Ladies, we're accessing the next-level version of ourselves and embodying her with no apologies!
Recently, one of my clients approached me about wanting to increase her pricing but being afraid to make the move. She had been charging the same fees for her services since she began the business but was at a completely different stage of life; having married and had two children, she was seeking more financial freedom to enjoy her children while they’re young. Not to mention the fact that her skill level had increased over the duration of her business and she continued to invest in growing to provide the best service.
This is one of the most common issues I encounter with my clients. The idea of increasing your pricing, or asking for a raise, comes with a whole host of mental struggles. One of the most debilitating is the fear of the income dip.
We link our value so closely to the amount of money we are bringing in that if that amount were to dip, we see ourselves as failing, which messes with our psyche big time!
So, what did I do for her? I walked her through the Act As method.
The first thing you want to do is write down your current pricing (or salary) and what you want it to be. Examine the gap – this is the growth zone, and it is a place of discomfort. It’s important to focus on what the gap can bring you, and that is driven entirely by your own “whys.”
For my client, the gap meant she could work a little less, spend more time with her family, have more financial freedom, take her kids places, enroll them in sports and other programs more comfortably, all while continuing to advance her business.
Once you’ve connected to what the gap could mean for your life, it’s time to start embodying it. This is what I call the “Act As” method. Act as if you are the person making that next-level money now. What decisions would you make? How would you spend your time? What would your habits be?
Act As requires you to start building those habits into your life right now. Shifting your mentality to free you from the burden of fear. For my client, part of her Act As meant taking one full day during the week to spend with her kids – spending time with them, taking them to different local programs, catching up with family members and friends.
At first, she communicated how this felt like “skipping work” when she used to call in sick to her high school part-time job because she couldn’t bring herself to go in. It felt a little “wrong” and a lot scary.
But she quickly began to see this as part of her routine, and these new feelings encouraged her to push forward in making the shift. The shift is the point at which you go from “I can’t” to “I am,” – and having a community around to support you and encourage you will help make that shift happen faster – I built the CEO collective for this reason.
It’s at this point that people tend to lean one of two ways, some are willing to jump into making the change (amazing!), while others do better with a bit of a runway in place first (some savings put aside to help them through the potential income dip.)
This process can move as slowly or quickly as you feel comfortable with. For my client, it started with increasing her price with one or two clients a week; I coached her on the importance of presenting herself with the same confidence as she continued to level up and helped her to accept each “yes” as a driver for change.
She also continued building in Act As motivators in line with her risk tolerance. Remember, it’s essential to make yourself uncomfortable (we don’t grow in our comfort zones!), but do it in a way that doesn’t send you into dysregulation – some fight or flight is okay and expected as our subconscious is quite literally designed to keep us safe and within the “what’s known.”
The first step is the hardest, but as you continue to “level up,” you develop more confidence and a strengthened mindset. Let the gap between your current and desired pricing (or salary) fill you with nervous anticipation and empower you to go into the void (which is equal parts scary and exhilarating) because it’s through this that you gain the confidence and come out on the other side aligned with your desire.
And guess what? The other side isn’t an increased price point - it’s your next level.
Getting to your next level requires another currency exchange that is even more pivotal than your pricing strategy. It’s your SELF-worth, and it is responsible for shifting everything about yourself and the standard your hold yourself to.
This month in the CEO Collective, we’re exploring self-worth and the responsibility we all must take for our own. I can’t wait to chat with you about it.
Until then, believing in you,
Cheryl
