Do you know what pricing personality you are? These four personalities are something that can help you see your weaknesses and issues around money and pricing. They also indicate how to remedy them, making them super-valuable to your success.
Because let’s face it. If you want to become a more successful business, you need to understand where you’re losing money through your actions and beliefs.
As mentioned in Tackling your pricing gremlins, your pricing personality can play a big part in identifying the limiting beliefs and traits you have around pricing. You can then look to tackle the pricing gremlins that have been plaguing your business and holding you back.
So, if you’re wondering what those four pricing personality types are, here’s a quick rundown on each.
As an Overpricing Orla, you’re pricing based on what you believe you’re worth, but you’re not necessarily showcasing the social proof to match, so people won’t pay it. You find yourself getting passed over by potential clients because you’re not paying attention to the signs they’re giving you, that something doesn’t match. You’re very confident with your pricing and confident with managing your money. However, you could be missing out on the pleasure of giving through pro bono and charity work, as well as opportunities such as affiliate deals.
If you’re an Underpricing Una, you’re working every hour, but struggling to grow your business. You’re simply too busy completing client work. The weight of underpricing means you can’t reach your full potential, as you’re unable to invest in opportunities that arise. You’re also running the risk of resenting the clients you do have, simply because you feel you’re not being valued.
Pricing personality #3 is someone who is not confident with pricing, so the default strategy is to discount at every opportunity. If this is you, you’re really busy with clients, but still end up missing out. You see pricing as something uncomfortable and money as tacky, so you avoid money-related conversations and tasks. You know you’re not pricing enough, but you’re too busy avoiding trading your time for hours, to even review your pricing.
Generous Gina is the pricing personality that gives away all the free content and hates charging. This is you, if you’re not growing and have no funds to invest or pay yourself. Your client is in charge of your business - they seem to set the pricing according to their budget and needs. You’re simply avoiding money conversations altogether, so have no idea of your figures or how successful your business is. You need to get clued up, fast.
So, now you know what the four pricing personality types are, you’ll no doubt want to find out which one you are!
My ‘Find Your Personality’ quiz can help you find yours. And as a bonus, you’ll also receive my best tips to improve your mindset and management around money.