Thread by Shane | Achievement for Soloprenuers
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- Jul 23, 2022
- #Pricing
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I went from charging $10k to $100k for the same service.
Follow these 10 commandments to level up your pricing:
👇
Follow these 10 commandments to level up your pricing:
👇
Over the last 5 years running my agency I’ve learned a lot about what it takes to charge high-ticket prices.
The most surprising takeaway?
Talent & experience have nothing to do with it.
So what does?
The most surprising takeaway?
Talent & experience have nothing to do with it.
So what does?
Commandment 1: stop underselling your value.
The biggest thing stopping you from charging premium rates… is you.
Call it imposter sydnrom, call it low self-worth.
If you believe your service is only as valuable as the time you spend doing it — you’re done for.
Time ≠ money
The biggest thing stopping you from charging premium rates… is you.
Call it imposter sydnrom, call it low self-worth.
If you believe your service is only as valuable as the time you spend doing it — you’re done for.
Time ≠ money
Commandment 2: establish a reliable pipeline.
If you want to charge more, you’ve got to be willing to say no.
Hard to do that w/o any other options.
Focus on building a pipeline, then repeat after me:
“Sorry, but these are the rates if you’d like to work with us.”
If you want to charge more, you’ve got to be willing to say no.
Hard to do that w/o any other options.
Focus on building a pipeline, then repeat after me:
“Sorry, but these are the rates if you’d like to work with us.”
Commandment 3: solve big problems, create big value.
Different clients have…
Different problems &…
Different budgets
Solve the same problem for 2 different clients & generate drastically different value.
Your job: Find the clients who get the most value from your service.
Different clients have…
Different problems &…
Different budgets
Solve the same problem for 2 different clients & generate drastically different value.
Your job: Find the clients who get the most value from your service.
Commandment 4: embrace the micro-agency model.
Like it or not...
Agencies command higher prices than freelancers.
But the traditional agency model sucks:
→ It’s risky
→ Requires capital
→ Slow to profit
Thankfully, there’s another way.
Like it or not...
Agencies command higher prices than freelancers.
But the traditional agency model sucks:
→ It’s risky
→ Requires capital
→ Slow to profit
Thankfully, there’s another way.
It’s called a micro-agency.
It combines the benefits of the freelancer & agency models, without all the BS.
Interested in learning more?
Check out my thread on how to build a micro-agency here.
It combines the benefits of the freelancer & agency models, without all the BS.
Interested in learning more?
Check out my thread on how to build a micro-agency here.
Commandment 6: Stop pitching.
Pitching establishes the wrong power dynamic between you and the client.
Us versus them.
Win or lose.
Stop doing it. Instead, flip the script.
Turn it into a conversation. Work together to uncover their problem & define a solution.
Pitching establishes the wrong power dynamic between you and the client.
Us versus them.
Win or lose.
Stop doing it. Instead, flip the script.
Turn it into a conversation. Work together to uncover their problem & define a solution.
Commandment 5: Ask the right questions.
Anyone can “do” the work. Few can offer strategy.
To amp up your value:
→ Ask great questions
→ Do more digging
→ Diagnose hidden problems
They should leave the conversation feeling like you know their business better than they do.
Anyone can “do” the work. Few can offer strategy.
To amp up your value:
→ Ask great questions
→ Do more digging
→ Diagnose hidden problems
They should leave the conversation feeling like you know their business better than they do.
Commandment 7: package your solution.
Are you building a website?
Or helping satellite universities improve recruitment by optimizing their platform?
The same service with an ace package can be worth 10x the value.
Don’t sell a service…
Sell a solution.
Are you building a website?
Or helping satellite universities improve recruitment by optimizing their platform?
The same service with an ace package can be worth 10x the value.
Don’t sell a service…
Sell a solution.
Commandment 8: make them feel safe.
Want a client to pay you $100k?
Then they need to feel confident they’re in good hands.
1) Have a bulletproof process
2) Communicate it clearly
Show them you’ve done this before.
Make ‘em feel safe, remove all room for doubt.
Want a client to pay you $100k?
Then they need to feel confident they’re in good hands.
1) Have a bulletproof process
2) Communicate it clearly
Show them you’ve done this before.
Make ‘em feel safe, remove all room for doubt.
Commandment 9: remove the risk.
Risk & price have an inverse correlation.
Remove risk & you can charge a lot more.
Ask yourself: what is the riskiest part of working with me? How can I remove that risk for the client?
Add a guarantee…
Then 3x your price.
Risk & price have an inverse correlation.
Remove risk & you can charge a lot more.
Ask yourself: what is the riskiest part of working with me? How can I remove that risk for the client?
Add a guarantee…
Then 3x your price.
Commandment 10: become an authority.
Nobody knows your world better than you.
Create content that establishes you as a thought leader.
> Twitter
> Youtube
> Podcasts
My trick: Audit big brands in a public way. Show us what they're doing wrong.
Instant credibility.
Nobody knows your world better than you.
Create content that establishes you as a thought leader.
> Youtube
> Podcasts
My trick: Audit big brands in a public way. Show us what they're doing wrong.
Instant credibility.
Hi, I’m Shane. If you enjoyed this thread…
1. Follow @Shane___Martin for more on how to build a 1-person agency.
2. RT the tweet below to share this with your audience!
1. Follow @Shane___Martin for more on how to build a 1-person agency.
2. RT the tweet below to share this with your audience!
