You Are A Badass At Making Money (Part 2) book review
People spend money on all kinds of things just because they want to, all the time. And you might need a career coach to tell you, no, they actually got that amount of value.
You Are a Badass at Making Money by Jen Sincero is a nonfiction book about business, self-improvement, and financial improvement. And this time, I want to talk about how to stop being afraid to talk about pricing as a business owner.
Stop it.
But you’ve got to practice being confident to stop being afraid of talking about pricing.
There are three things that Jen says that I absolutely love.
The first thing Jen says that really caught my eye is: your client is not going to go broke from hiring you.
What do you mean if I tell them, “My services are $1,300 a month”? What if they can’t pay it?
They can’t pay it, they’ll tell you no.
They can’t pay it, they’ll figure out a way to stretch and get it because they really want to work with you.
They can’t pay it, they’ll decide they’re unwilling to pay it and that’s not what they want right now.
How does that hurt you?
Wouldn’t you rather have someone be honest with you and tell you they can’t do it than sign up for you and then have to miss payments in the future?
Get out of this scarcity mentality that if they work with you, they will now be broke and can’t ever do anything again in their life.
It’s not true.
People spend money on all kinds of things just because they want to, all the time. How many things do I spend money on just because I want to? And if I wanted to spend money on something else, I would. I would find it, get a credit card, write a check.
It alleviates so much pressure off your shoulders to be like: just say your price.
They can meet it. They can’t.
I love it.
The second thing is: trust them to know their finances.
Part of the reason why this relieves so much pressure for me is because I don’t know your bills.
If I’m on a discovery call, which is one of my favorite calls, you’ve already come to my website. I already have a question in there that says, “My services start at this price. Can you afford it?” You say yes, and then we get on the phone and I’m like, “Hey, how can I help you?”
We’ve already seen some of the money.
You should already have an idea of what you kind of want because I’ve been prodding that information out. Now is where we sit down and say, “Is this what you want? Here you go. I’ve already created a proposal. You’ll have it in your inbox in 30 minutes.”
I don’t know their money.
They’re the one taking the risk on talking to me and asking themselves, “Is this really what I want? Can I afford it?”
When you don’t know their bills and you don’t know their expenses, why would you waffle?
Why would you say, “Well, I think based on looking at them that they can probably pay $600.”
How rude and how petty and how presumptuous.
Stop it.
Tell them the price.
You don’t go into a grocery store and say, “Well, this brand is $3, but I wonder if they could take it for $1.50.”
They will tell you to go to another store.
I’m sorry. That’s the price.
You need to be the same way.
You don’t know their money.
It is that serious because you’re asking for it, and that can be a vulnerable thing. But when you realize that they will just tell you no, that’s not what they want, or they will ghost you if that’s not what they can afford, say the price and keep it moving.
“Say the price, keep it moving.”
Those two things really helped me.
This time when I was reading the book, I was like, “I’m a badass at making money because I’m gonna say my price. I’m gonna say it with my whole chest.” And if they can’t afford it, they can’t afford it.
Lastly, Jen says to think about the energy of money.
If you steal $50 from someone’s purse, you don’t feel that good. You spend it on that thing and it goes bad or it’s rancid. The energy of it is wrong.
If you are pricing yourself appropriately for the services you’re offering, you should not have an issue with stating your price and stating it with your whole chest.
They will tell you. You put the ball in their court for them to respond.
Now, if you don’t have pricing for that, if you think, “Oh, I really wish they’d pay me more,” you probably need to look at where your pricing is.
Or if you think, “Wow. They really paid me all that for that little work,” you might need a career coach to tell you, no, they actually got that amount of value.
Pricing is very, very, very difficult. But when you price it right and you’re like, “Wow. They got the value for what I priced it at,” you feel good.
You have to figure out what that ideal, perfect pricing is.
For me, I used to work with clients and tell them it was around $230. I had people sign up, and then with one person I was like, “Well, that actually wasn’t the right price. This is the new one.”
And they were like, “Can’t afford that.”
Dang.
Then another person was like, “Well, I’m not gonna show up.”
My goal is to create storytellers by creating podcasts. If I’m working with someone and the price is too low, that’s not going to cover my needs. I need to actually have a very specific client base so they can pay this top level and show up because the price was so high, it’s not worth just walking away from the money.
And that takes some time.
There’s some psychology to it and all of it. It takes some time to get there. But if you know that your pricing is right, you can’t be mad at them for whatever they say or whatever their decision is.
You absolutely can’t.
One of the things I learned is that your number one priority is helping them get the value that they’re paying for. If you know that you’re offering that, you can’t have an issue with your price.
You’ve got to say your price. You’ve got to stand in it. And that’s it.
And a little bonus here for me is: you are worthy of that price that you’re asking for.
I had to take this a step further. I am not worthy because I am giving them the service. I am not worthy because I’m on a discovery call with them. I’m worthy because the time I spend working on their task, service, or product is time away from my family. The time I spend with them is time that I could spend relaxing or resting or working with someone else.
They have to pay for that value.
“We’re not exchanging time for money. We’re exchanging value for money.”
If you need some help, listen to the audiobook or pick up the actual book.
I always get my books from the library on audiobook. I listen to that, and then I will pick up the book and read it.
This is a seven-hour book. I read this book for two days, one hour, and 58 minutes. It was so good. I constantly kept it playing.
I’ve already done a book review on this. In the first book review, I mainly focused on Chapter 10, where Jen says, “A Letter From My Accountant.”
She’s basically like, you want to run your business? You’re not making any money? Go get a job. Stop putting all that pressure on your skills. Stop putting all that pressure on your talents. Go get a job. Stop forcing it.
When I got a job, I was cool with the job.
The job was eliminated.
What are you going to do now?
That kicked me into fight or flight in the best way ever because I decided to fight.
I was like, “Well, this is what I want to do, so how am I going to find a client? Well, I have to tell people I want clients. Well, I have to go tell people they should pay me to be my clients.”
Jen helped me with that.
Rachel Rodgers kicked it open with We Should All Be Millionaires. Jen Sincero, rereading this book, took it another level.
Yeah, Kyla. It’s value-based pricing.
If someone ever sends you a note that says, “Oh my goodness, you saved me so much time,” the price is going up.
The price is going up.
That is value-based pricing.
Stop being afraid to talk about your prices.
And if you need some help, listen to the audiobook or pick up the actual book.
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Until the next book review,
Kyla
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