Pricing is one of the biggest challenges that creative entrepreneurs come to me needing support with. There are a lot of different theories out there on how to price yourself, many specific for the fine art industry, but less for creative or spiritual businesses, which I believe is different to other services and products.
So I want to share my general guideline for pricing, and you can print out a pretty free Pricing Guide Here: https://www.realworldcreatives.com/pricing-guide
I believe that it is really important to find a way to price yourself that actually supports your energy capacity, your desired workstyle as well as your lifestyle.
There are a couple of different categories that I suggest people look at and add up when they are setting income and profit goals.
The categories that I invite people to add up and look at are:
Your business expenses
Your personal expenses (because your business needs to pay for your whole life)
Contributions that you want to make to savings and retirement funds
Any debt that you have to pay off
Fun money
Desired expenses
You might also have some other categories for yourself, so feel free to add in your own categories.
I believe it's important that people are thinking about pricing themselves to profit, so they can get the things, experiences and lifestyle they desire and contribute to the causes, people and communities they care about.
So whether that means bringing on an assistant full time or hiring a podcast editor, or getting weekly acupuncture treatments, any of those expenses that would support your business and your health. Look at what the cost of those things are, and factor this in when you are pricing your product or service. Including those anticipated expenses in the way that you price yourself now, is going to allow you to actually create the cash flow to be able to afford them.
I think a lot of people get tripped up with pricing, but also get tripped up with creating room for profit. I see a lot of people that hit income plateaus or get stuck in only having just enough money to cover your current expenses. It often leaves you feeling like you can’t move forward or you can't afford what you actually want. Not only for your business but also for your life. That is why I really recommend looking at what those upcoming and desired/anticipated expenses are, so that you can factor it into how you're setting up your fees right now.
I was doing an interview the other week, and I mentioned this idea of desired expenses, and the woman interviewing me was like, “Oh my gosh, I've never heard that tip before!” So I wanted to make sure that I emphasised it and shared it with you all. I want you to feel like you can keep growing and that you can get the support you want to have your version of abundance.
So if you want to check out that free pricing guide, pop over to https://www.realworldcreatives.com/pricing-guide
If you need some extra help figuring out your perfect prices, and making sure that you're in total alignment with your your prices, your offers, and the energy and mindset behind what you're putting out into the world- then hit me up, shoot me an email, make sure that we are connected. I would love to help you with that and really start to make some changes and see the results that you want to have in your money experience!