Shahab, Are You Flexible with Your Fees?
Today my friends, I'm going to talk to you about the importance of FLEXIBILITY when it comes to your fees.
Let me share with you one of my stories. Many years ago, when I started out as a subject matter expert; Trainer / Coach / Consultant / Author; I had this strong belief that I need to have fee integrity. If I'm providing a wonderful service or product or offering then I need to charge what I'm worth.
So, I stated my fees proudly and loudly, and if somebody wanted to get a discount or somebody wanted to nickel and dime me; I didn't budge. I said: "this is my fee! It is what it is!" and I was not flexible at all.
The good thing about this fee integrity was that I almost always attracted the right audience; the kind of audience that was actually my ideal clients, and knew the true value of my work. That was the good part.
But the downside of this approach was that I sometimes lost really good prospects that COULD become high paying clients, and build a strong relationship with potentially good clients but because of my fee integrity and my unwillingness to budge I lost those opportunities.
So, after a while, I realized that, OK, I'm charging this much for my keynote address or or for my training program or for my six-month coaching package. But if a company, if a corporation, or if a really good consumer in the B to C case, approaches me, and asks me to become a little bit flexible about my fees, but, instead, they are willing to put me in front of my ideal clients, and they are willing to compensate in another way; Now I can be a little bit flexible. For example if I'm charging this much for a keynote and the corporation does not have the budget or is not willing to pay much for the keynote; I now get creative and ask them: "What else can you offer to match the balance?"
So, if they want to pay like sixty percent of my fees; I will ask them to refer me to another corporation, or I will ask them to buy a bunch of books for me, or I will ask them to book me for another engagement, maybe a follow-up training or next year's keynote or so on and so forth.
So, I try to get creative, and actually come up with a solution that will be a win-win for both sides so that I keep my fee integrity and I charge what I'm worth but they will feel that they are heard they are listened to and they are getting the maximum value for their buck.
So, my question to you is: How can you be more flexible when you're stating your fees, and at the same time, charge what you're worth?
Please share below this video what you think.
My name is Dr. Shahab Anari and if you need help to grow your business through personal branding, if you need more visibility, credibility and profitability, please reach out to me at northstarsuccess.com
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