Are you suffering from The Broken Cookie Effect®?
It is surprising how consistently The Broken Cookie Effect came up in my market research. I asked women business owners: “What would you do with an extra $100,000 in your business?”
There was no hesitation. They would hire more people, give their staff raises, and hold a company retreat. All lovely ideas, but what happened to the person taking all the risks and putting her reputation on the line? What could the owner do for herself with that infusion of cash into her business?
As I dug deeper into my research, I learned that women often feel both guilty and greedy – as if they don’t deserve the whole cookie!
I heard comments such as:
I heard recurring comments about “being fair” and “reasonable pricing,” but who decides what is fair and reasonable? Your ideal buyer does – not you.
When pricing your services, you may believe “that’s too expensive,” but your ideal buyer may think “that’s a bargain!” Everything in life and business is relative and, often, subjective. We make the mistake of believing everyone thinks the same way we do, their logic is the same as our logic, and their foundational beliefs are the same as ours.
Nothing could be further from the truth. This is why it is critical for your business success to:
As you’ll learn in this book, our limiting beliefs – as humans, as women, and as Good Girls – lead us to false conclusions. We then make life-altering decisions based on these imaginary, false foundations, marooning us on constantly shifting ground.
One of my foundational beliefs is that everything in your business flows from pricing. When your pricing is too low or seems arbitrary, it affects how prospects perceive you, your ability to attract ideal buyers, and the short- and long-term success of your business.
When your pricing is appropriate for you, your company, and your clients, you’ll generate more revenue with less stress. It’s not greedy to want more money – that is actually the whole point of owning a business.
This is what I call Justified Additional Revenue (JAR). “Filling your cookie JAR” starts with pricing for value.
Generating more revenue means you can help yourself, your family, your employees, and your community in a whole different way when you have less stress around money.
-- Excerpt from Patty’s book, Your Hidden Advantage: Unlock the Power to Attract Right-fit Clients and Boost Your Revenue
How Are You Filling Your Cookie JAR? I'd love to hear what you think and if you’re struggling with The Broken Cookie Effect®. Simply respond to this email. I read and respond to every email personally.
P.S. Are you giving 'invisible' discounts to prospects who didn't ask for them? The anxiety you feel when talking with a potential client leaks out when you slash your price because you're afraid you'll lose the opportunity if you don't. We think we're hiding our fear but others can sense it.
I've broken down exactly why this 'discount dilemma' happens in an exclusive training called The Value Equation, which you can get for FREE by signing up for the bonuses that are companion pieces for my book, Your Hidden Advantage.
Business advisor, pricing expert, and bestselling author, Patty Block empowers women business owners to turn up their power by shifting their mindset, attracting right-fit clients, and boosting their revenue to achieve a more profitable future. Isn't it time to run your business with more confidence, profit, and joy?
Unlock the Power to Attract Right-fit Clients and Boost Your Revenue