226: Mastering The Art Of Pricing In Your Mentorship Business - #GrowYourLife

Hey, everyone. Thanks for listening to the Grow youw Life podcast. My name is Jeremiah Krakowski. I'm thankful that you're here. This podcast is for coaches, trainers, mentors, authors, and thought leaders who want to get more clients in their business, make more money, and live the life of their dreams. Now, today I want to talk about a topic that I've been thinking about for a while, and it's so important. It applies to every single aspect of your business. Did you know that your pricing has to do with your boundaries that you have? Let me explain this. Boundaries is such an important part of the process. As a coach, as a mentor, and not allowing other people to encroach upon those and to be able to control what we will do and won't do that it goes down to even our pricing. Let me explain this. If you're like, I, you know, I don't know if I could charge more than $500 for my coaching. And that means that that's your boundary to which you are willing to help other people and coach them. And that, that your boundary is at $500 financially. Mine is at $2,000 financially for group coaching and over $15,000 for one on one coaching. That's my boundary. Some of you, your one on one coaching is only $2,000, okay? So understand this. My boundary is further away from me because I'm charging more money. People can't get access to me unless they pay at that place. And so it's directly related to the boundaries of how much we allow other people to use us and walk all over us and take advantage of us in our business. Listen, if you're somebody who gets satisfaction from helping other people, which, by the way, I am as well, I wouldn't be doing what I do if that wasn't the case. But if you sacrifice yourself, your family, your finances in order to help others, and you constantly allow people to encroach upon you to the point that they become a burden to you. That's a boundaries issue, okay? And so what we're doing is we're allowing other people, you know, some people have no boundaries. And so they will just coach people for free. And what's interesting is when they finally set boundaries, they start charging. The people who got free access to them will complain, they'll whine, they'll be upset, they'll be angry. They might even criticize, scrutinize, and demonize you for setting a boundary on your access to you. I had this happen to me myself. Is that when I started charging what I do. To get access to me, I had offered people, they could schedule free calls with me, free 15 minute calls. And I told everybody, you can direct message me for free. I have open dms. Anything you need help with, I got you, I'm here for you. And I set a boundary to where no longer would I do free calls and no more DMS for, for coaching and advice, no private advice like that. And it shows because people got angry that I no longer offered that and I said, you're gonna have to. If they, if you have questions, listen. By the way, if you're listening to this, I still provide. If you go post on my YouTube channel, if you comment on my social media, if you're in my coaching group and you ask a question to help you, I will answer you and I will help you and I'll guide you through those things. But I don't do private coaching that takes my time away in a one on one setting level with anybody who pays less than $15,000 minimum to do so. And I have a group coaching program that's $2,000. So my boundary expanded to the level of access that I was allowing people to come and get access to me. And so we have to a set those and stick to them. If you're constantly allowing people to encroach upon them, you don't really have a boundary. And you may need to ask yourself, why am I letting people treat me that way and why am I disrespecting myself by allowing other people to disrespect me, to get free access to me, free access to coaching, whatever that is. And so with this, this is why now when we show up and somebody gets angry and says, you know, there's no way you could ever expect anybody to pay you $2,000 to work with you, what kind of crazy person are you? You have a decision, I have a decision. In that moment, do I let this person decide where my boundary is for me? And some people would because they don't want the conflict, they don't want the interaction, they don't want the negativity. That's where you need to strengthen your ability to have boundaries of what you're willing to give up in your life. You know, we have to have this when it comes to our morals and our integrity. We have to have this in a number of different areas of our life. But when it comes to building our business, I find that people disrespect themselves more than anything else, more than any other area because they're trying to get Validation from. From other people. They're trying to get people to like them and they struggle to express the limits of where people can get access because a lot of times they're so desperate to be seen and heard. I'm so desperate for people to just see my value that I'm willing to sacrifice my boundary. And now I have no value. And I'm showing up as somebody who is just looking to get validation and nobody will invest in that. And now you don't have a business. And that's the situation that most mentors and trainers and coaches find themselves in, is without a business because they're giving away so much of themselves for free or dirt cheap to people. And they have no respect for themselves because they're just seeking approval from others as payment. How many y' all have done that? Listen, I've done it. I'm just. I'm gonna be straight up with you. I have done this for way too long and enough is enough. And I'm done with it. And I'm done giving up what's valuable that I have that special, that when people come into my space, I help them become millionaires. And I'm not going to give that up for free or cheap just because somebody else doesn't see my value or thinks they are entitled to me because I can help them. Yeah, and you'll have people, they will try to beat you up, knock you down, try to tell you that you're not worth what you're asking for. And this is why. What you believe in yourself is what determines how much money you can make. If you don't believe that you're worth, worth it, you'll give yourself up to the first person who gives you validation. You know, honestly, this sounds like a training that I would teach to teenagers and young people about dating as well. You'll give yourself up to the first person to show you attention. And we find, by the way, by the way, that was, that was me when I was younger, a teenager. And so in that, that same thing, we end up bringing into the same way we would in romantic settings, we end up bringing into our coaching and we don't respect ourselves. And we, and, and if somebody can just say the right things, they can get us to give up our values for just a small moment of validation. And, and we know that, that doing that in romantic relationships is. It's not healthy. And it's not healthy at all in a business setting either. It's not healthy even in a family relationship at that point. And so boundaries are so Important to be able to express, to stick to, to hold to. And that helps you determine what you're willing to charge in your business. If we're having the conversation about pricing, for your mentoring, for your coaching, we have to first have the conversation of are you so desperate for other people's approval? First for other people using you, for other people taking advantage of you. And I get it. I used to be that person. I was like, please, if I just want somebody to take advantage of me, I have, I have so much to offer, but nobody's seeing it. And I was desperate to be seen and heard by others. So much so that I devalued myself to zero in business, even though I had built multi million dollar businesses. And I would bet and challenge you that if you're listening to this right now, you might be doing the same thing in your own business. You might be doing the same thing in your life. And it's time to stop, to grow, to charge 50 to 100% more than you are. If you're charging a hundred bucks right now, charge 150 to 200 next time you get a client. Oh, Jeremiah, I'm not ready for that today. Great. Do it in two months. Give yourself a 60 day countdown. By the way, this might become a great sale for you to get some clients. Listen y', all, I'm raising my prices. In 60 days they're gonna be double. But you can, you can grab it. Now that's a way to inject cash into your business right there. Okay, We've done that multiple times by the way. But you have to have boundaries and you have to be willing to stick to your guns even when people try to discredit you, even when people try to tell you that you don't have value. I had people hop on the phone with me and tell me, jeremiah, if your system so damn good, then you would give it to me for free and I wouldn't have to pay. And so the fact that you're charging is proof that it's worthless. Literally. That's what they told me. And I'm like, what the world kind of gaslighting craziness is this? But that's what will happen in business. That's what happens in business is that people will try to show up to get you to give up your values to them so that they can actually benefit from it. And then they'll kick you to the street with no respect for you because they don't have respect for you. And they don't have respect for somebody that's willing to give themselves up that quick. Now, here's the thing. I've never had those people come back to pay me what I'm worth either. And so for me, if somebody's gonna treat me that way, they've automatically disqualified themselves from doing business with me, especially if they do it two or three times. And I've gotten some emails from people. There's even some of y' all that are listening to this podcast that I've gotten emails from. And, and, and, and as you can tell from my response, I clearly don't listen to it. I, I mean, I do read it. I see it. That's why I made a podcast about this topic, because I think it's so valuable. I think that people need to understand this and that if you're a mentor, if you're a coach, if you're a thought leader, if you're a trainer, you need to get this and not allow it to control you to where you let other people's opinions, if somebody tells you you're not worth anything, xyz, that you lower your standards down to meet them for their validation. Instead of that, realize that you need to raise the value that you offer first off, and also become really good at communicating that value to people. And so that was my issue that I struggled with, is I struggled to actually communicate that value with confidence. I struggled to actually, with the words that I said and how I would show up in my business. And by the way, that had nothing to do with how I was dressed. I've actually dressed down a lot in my business, and I find that when I dress down, there's a positive financial benefit for me. And so in that I'm paying attention to who is becoming paid clients of mine, who is actually joining me, who is actually coming into my space, and I'm paying attention to, okay, what are they struggling with? How can I help them? How can I provide value? That's why this podcast exists. This is to provide value. Resources, tips, tricks, help, and things that are going to help you make more money in your business. Now, in our Client Growth Accelerator coaching program, we go a lot deeper into that with the courses that are in there, with the discussions that we have. And so if you have an opportunity to join the Client Growth Accelerator, make sure to get on the waiting list, jump into it. At the time of this recording, it's only $2,000 a year, but it will go up in the future. Okay. Don't wait on taking action to actually build a mentorship business that can make you Six and seven figures. Start to move the needle forward for yourself and start to do the things that are going to make the real difference. And one of those big things is your ability to hold to your boundaries, to stick to them, to not let people walk all over them, to not let other people decide for you what your boundaries are. And let yourself be the one that decides. Even if people get upset, even if they get angry, even if they try to paint you as the enemy, that you don't waver, that you don't let others treat you and mistreat you that way. And that you focus on those that are celebrating you, that are enjoying working with you. And maybe you're listening to this saying, jeremiah, I got nobody. I got nobody celebrating me. I got nobody as a client. How can everybody's just negative and nobody sees my value. It starts by you seeing your value yourself first. It starts by you seeing your worth first. There's a great book called you are a badass by Jen Sincero that can help with some of that. Seeing that you're absolutely incredible and worth people working with and worth people spending money investing into just as you are right now. You're not looking for validation from others to tell you that you're worth something. Take it from me. In my business and my experience in the last 12 months we've earned over a million dollars in our business that it wasn't until I started seeing my value and asking for it and not giving myself up to people. I stopped a year and a half ago doing free calls with people. And that immediately sparked. For about six months, I didn't see any more cash flow come in. It was like dead zone when it came to actually money. When I did that, I had to go through a dead zone of no sales because I was getting some clients through the free calls, but it was only like 500 to a thousand bucks a month. Then I had to go through a dead zone when I got rid of that and then I launched my group coaching program and that's what's generated that, that million dollars for us. And so understanding that you might have to go through a season where your biggest fear actually becomes a reality, you might not get business during that time. You might have to put some things in order and, and do the thing that terrifies you the most because on the other side of that is the dreams that you have. And start visualizing the, the dream life that you want. What is that dream life and dream future that you want for you and your family? Start to see it in your mind's eye and then start doing the things that will get you there. That's why this podcast is here, to help you do that. That's why my client, growth Accelerator, is there to help you do that. I'm here for you, and I can't wait to see you go to the next level. Grow your life. Everybody share this podcast with somebody. We'll talk soon. Have a good one.