How to Price Your Products and Services and Determine Your Worth

What are you worth?

I am one of those rare people that loves selling and I love to help people to master the art of selling.

When I train on selling, one of the most common roadblocks is that wedding pros don’t know how to price their products and services.  They don’t know their value or worth.  The problem is, if you don’t know your value, you can’t price yourself and ultimately, you can’t sell your services.

Even though I love to sell, when I started providing day of wedding dressing service 5 years ago, I was at a loss as to what to charge. It was a service that very few people were providing, so I really had no benchmark to work off of. I hit a roadblock when trying to promote and sell my services, because I did not have confidence in what I was charging…HELL, I didn’t even know what to charge!

I’ve been where you are!  So, let’s break it down!

Here are 7 tips for pricing your products and services:

  1. Determine what your time is worth.  Identify an hourly rate for your services or the time required to create your product.
  2. Document your entire process step by step and apply the hourly rate to the total number of hours for the creation/completion of your product or service.
  3. Evaluate that number and determine if it makes sense for you.  Can you maintain the lifestyle that you want to have with that number?  Will that number allow you to reinvest in the business to continue to grow it?
  4. If the answer is NO to either of those questions, then write down your goals. Calculate what number you would need to make in order to achieve those goals. Increase your worth/hourly rate accordingly.
  5. Factor in the number of hours you want to work. Divide that into your value to determine the number of products you would need to sell or the number of hours of service you would have to provide in order to achieve your target financial goals.
  6. Explain to your clients what they get by booking you.  Show them your competitive advantage. Tell them what sets you apart!
  7. Don’t be afraid to adjust your price!  If you are finding that your price does not equal your value or the time that you are putting into your service, then unapologetically raise your prices!

The bottom line is that you can’t sell yourself if you don’t know your value.  And you can’t attract a client that will appreciate you if you price yourself too low!

So, do the work.  Determine what you want.  Value your services.  Sell yourself and your services based on that value. SHOW your clients why you are worth it! 

Want to learn more about improving your selling skills? Click here to be the first to find out when my Simplified Selling for Wedding Pros Course launches (hint…it is just a couple of weeks away)!