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Incredible Insight That Could Double Your Income Immediately

Michelle Dale - Thursday, August 29, 2013



What you charge may be a touchy subject for you, for example (let's pick a random number) you could say to people, "I charge £1000 an hour" - on the one hand, someone who with a certain mindset towards money one way will say, "OMG are you serious, that's so expensive!" and on the other, a different person would say, "Yikes, what a bargain! Gimme, gimme, gimme!" - Let's explore these reactions and how to process them in your circumstances.

Money Mindset.

First let's look at the (2) basic types of money mindset I've discovered. 

The Lacking Mindset

First of all, the person who would say, "OMG are you series, that's so expensive!" generally would be considering that the price was too high, unaffordable or maybe even greedy. There's a part of their mindset that focuses on "lack," maybe because they themselves have a lack of money, or they've been brought up to believe that money is hard to make, maybe even requires ongoing struggle.

The Abundance Mindset

The person who would say, "Yikes, what a bargain! Gimme, gimme, gimme!" has an abundance mindset, they have a perspective where £1000 is not that large of a sum, maybe even a tiny amount, perhaps £1000 wouldn't impact their wallet very much, after all, I know a man who was recently in Dubai who paid well over $1000 for lunch with a couple of friends.

So...

"Too much or too little", "extortionate or cheap", "daylight robbery or a steal" - whatever - it's all about perspective, and people will generally have their perspective shaped by their current reality. Whether people comment from a lacking perspective or an abundance perspective, what you charge is really all relative.

Some people with £100,000 in their bank account will see that as small change, while others will see it as all they've ever wished for.

But What's The Money Really For?

This is the real question right here. I think we have a fair grasp now on the (2) reactions and how really neither of them are right or wrong, they just are... What we need to think about is what the money actually pays for.

It's (Not) Time.

Some might say the money pays for time, if you charge by the hour, then surely you're paying for someone's time? Well in some cases yes, but in many cases, particularly for consultants, coaches and mentors, it's not really the case, even if you only spend an hour with them and exchange £1000 in the process, you're actually not paying for an hour...

It's (Not) Knowledge.

If we explore this further you could say that you're paying for someone's knowledge, their vast experience, what's inside their head so to speak - we want to pick their brains because they seem to 'know' so much more than we do, and they have spent years and years gathering all that juicy information, and all we have to do is pay for it - that would save us hours, days, weeks, maybe even years of studying. Well I suppose in a way we're getting warmer with this concept, but still, it's not quite there... 

It's (actually) Potential Outcome.

What we're really paying for is potential outcome, we want to achieve a certain goal, or ambition, or vision, and we need help and support to get there, we want to get there the quickest, easiest and most efficient way possible, and we're willing to do whatever it takes.

So, would you pay £1000 for an hour of time or information? Maybe you would, maybe you wouldn't... I guess it depends what it is...

Would you pay £1000 to achieve a life goal, pay increase, new home, luxury, better working conditions, whatever 'experience' you really wanted... My bet is, that if you had the money, you would. 

(wee) Reality Check.

At this point I don't want to be a party pooper, but I am a Taurus, so we have to have a bit of grounding in here somewhere ;-)

I hope by now that you have a grasp on the fact that there's really not "too much" or "too little".

However...

Would I personally (me) pay £1000 an hour for transcription? No, I wouldn't, because in my mind, I wouldn't be able to recuperate that £1000, and I know I can get great transcription for a fraction of that cost, I'm making a sensible decision for me. 

But, would I pay £1000 an hour for a conversation with a business mentor or consultant who could potentially increase my revenue by £1000 a month, YES! Hell yeah... I'd give it a shot, knowing there are never any guarantees in life other than death and taxes, I'd certainly make an educated decision to pay the money.

For me, it's all about recuperation, whether that's immediate, or over time, if it takes weeks, months, or years, I just like to know I'm making a sound investment into an outcome I want to see, that's important to me.

Other people might have other goals in mind, everyone is different, but don't let the people with the lacking mindset, or the people who don't want the outcome you're offering get you down. Just keep your conscience clear (very important), and do what feels right!

Ready To Double Your Income?

I don't know what you charge right now, but if you're the type of person who has been taking pricing or rates advice from too many people with a "Lacking Mindset" and feeling that you're underselling yourself, knowing what you know now, you could have the potential to now increase your rates substantially.... 

Look at what you offer, look at what people will achieve at the end of it, and putting aside time and knowledge, look at what the outcome is of the service you're providing. Then sell, sell, sell the crap out of it, so you can go on to achieve more of your own goals and ambitions :-)

If you've been sheepishly saying, "I charge $20 an hour" - on the next consultation, just try changing it up by proudly saying $40... If you charge $50, on the next enquiry, try changing it to $100 - what could happen to you from this change? Well, the honest answer is that if you don't try, you'll never know, but if we use a bit of logical deduction here Mr. Spok, what could happen is someone with an abundance mindset could start paying you double....

All you're really doing is pricing yourself out of one market, and then pricing yourself into another one.


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Hi I'm Michelle, an entrepreneur specialising in virtual assistance, a digital and real world nomad, and a down-to-earth mother of three.



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