How To Charge The Highest Price In The Market
- Aug 1, 2022
- 4 min read
Written by: Nida Leardprasopsuk, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Many experts that are exceptional at what they do undercharge. It’s because they weren’t aware that charging the highest fees in the industry was even a possibility for them. Some have a money mindset block, some didn’t know the right strategy to package their offer, and some were playing small unconsciously. They could be charging $100K, $500K, or even millions for their expertise if they chose the right clients, had the right offer and crafted the ideal package to sell. I challenge you to stop playing small and start owning your ambition. If you are honest with yourself, even if it feels scary, do you want this?
What it’s about
It’s not about making as much money as you can. It’s about delivering your best work to the highest level of clients and charging the price it’s worth. With the high-profit margin, you can pay for anything it requires to deliver the ultimate solution to your clients. As a result, you are known for delivering this level of deep expertise and results. This creates a lot of referrals and PR opportunities and builds a great brand reputation.
Who you choose as clients
If you want to charge the highest fees in the market, you can’t work with everyone, and you can’t work with anyone. The key is to be very selective. Choose to work with clients that you think can make the most impact and can pay you. Clients that are at the top. Maybe CEOs, millionaires, or even billionaires. Something that holds clients back from being selective is they want to help everyone. They feel bad about saying no to some clients. The truth is you make more impact working intensively with 10 high-level clients than at a surface level with a hundred clients. And you make a lot more profit for your business too.
The Offer
Answer the question: What are your clients really buying? What is the end result they want? Can you help them achieve it in the most efficient way?
They aren’t buying twelve months of coaching; they are buying a specific result. They are buying a transformation and an experience to work with you.
The Package
Answer the question: In order to help your client get what they want in the most efficient way and have the best experience, what elements are needed?
Is it access to your personal connections?
Is it a done with you or done for you service?
Is it a year of coaching one-on-one with you?
Is it a specific software or technology?
Is it a blueprint for solving a specific problem?
Is it personalized solutions?
Is it a large amount of exclusive time with you in order to create intensive and deep transformation? e.g., 1-5 VIP days
I will use my business coaching offer as an example. I work with leading world-class coaches, consultants, experts, and premium service providers.
The outcomes my clients want are:
Build a business that is truly unique, legendary, and stands out from the competition. It is perceived as top of mind brand in the industry (top-of-mind doesn’t mean everyone can buy it), and clients stay with them for life and refer them repeatedly.
Deep personal transformation – to become more of the person they aspire to be.
To build a life that is aligned with their values and aspirations.
The required elements that will help support them to be successful include:
access to my personal connections
intensive VIP days
a year or multiple years of coaching with me one-on-one where we work on the business as well as their own self-transformation
done for you deep dive research into their business and clients
analyzing the business and innovating ideas, offers, and processes for their business
short- and long-term customized strategy for their business
I wrote more about creating disruptive solutions for your clients in this article.
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Nida Leardprasopsuk, Executive Contributor Brainz Magazine
Nida is a top-tier business consultant, mindset coach, and former Fortune 500 executive with more than two decades of experience in marketing, business, research, consumer behavior, and human psychology. Her consulting and coaching business centers around innovation and customer-centricity, a key factor in her own success. She helps forward-thinking and purpose-driven coaches, consultants, experts, thought leaders, and service providers reinvent, innovate, differentiate themselves from the rest of the competition, and become a category one by 1.) Discovering and utilizing their ultra-geniuses 2.) Creating groundbreaking solutions that solve clients’ problems in an innovative way 3.) Using a short and long-term innovative marketing strategy that magnifies their thought leadership over time, and 4.) Help entrepreneurs innovate their businesses and build a culture of excellence.
She is the author of the One to Millions Entrepreneur and host of the One to Millions Entrepreneur Podcast show. She also has a master’s and bachelor’s degree in Business and Marketing and is currently completing her research for a Ph.D. in Social Psychology.
Nida offers 1:1 consulting and coaching services that help forward-thinking and purpose-driven entrepreneurs build a world-class legacy brand and hyper-grow their businesses through innovation and out-of-the-box thinking.
