Suz Chadwick [00:00:01]:
Hey, lovely. Welcome back to the Brand Builders Lab podcast. Awesome to have you here. Today we're doing something a little bit different. I'm going to be sharing with you a live call that I did in my Brand Builders Academy, because once the call was done, I just thought, I feel like I need to share this outside of my community. And I really wanted to share it with you here on the podcast because there were some concepts that I talked about that I just think are so important for you to know now. One of the things I really wanted to do is that in March, I kind of wanted to have a bit of a sales theme. So I've got a couple of people coming onto the podcast where we're going to be talking about sales and pricing and money, et cetera.

Suz Chadwick [00:00:44]:
And so I thought this was a really great start to March, march on the podcast. Money and pricing. So I am calling this pressure testing your pricing this week within Brown Builders Academy. Cause we obviously do live coaching every week. And one of the things that I do is that on a Monday, I set my clients up for what we're gonna be going through in the week. And so this is you getting an insight into that. And the one thing I would say is that if you enjoy my style of teaching and you wanna come and coach with me, then obviously you can come and join us in BBA as well. But this is really sharing with you some of the things that I just think are so important for my clients to think about and do when it comes to pricing, thinking bigger, really testing what we feel like our thresholds are around the amount that we charge and the fact that there are so many people out in the market that are charging more.

Suz Chadwick [00:01:40]:
And we just need to be really asking ourselves, what do I need to do to, number one, know that the value that I bring is worth what I charge. And also, how do I start to stretch myself so that I can earn more in my business as well? So that's what we're talking about on the podcast today. As I said, this is the live recording of my Monday setup for my clients about what we're going to be talking about. And then this week I'm going to be coaching them on it. So, as I said, if you want to come and join us, head to C B A and get involved. But listen, without further ado, let's dive into this week's episode.

Suz Chadwick [00:02:19]:
There are a lot of beliefs and blocks and perceptions when it comes to money and charging. We all have views on it. You know, some people will charge $50,000 and not think anything of it. And some people really struggle to charge $500. And so we've kind of got to really start to understand ourselves and understand where we sit with this and what our money stories are as well. And so when we talk about pricing and packaging, I just don't think that we can talk about it without going into that, because everybody's going to be really different. And it was really interesting. I've got a friend coming on the podcast soon, Kate.

Suz Chadwick [00:03:04]:
And she was at, I think it's called. It's called, like, Funnel Hackers Live, if anybody knows Russell Bronson, he owns a business called Click Funnels, et cetera. But the story that came out of it is that he made a $1 million offer. So he made an offer to his audience, and he was like, this is not for everybody. This is not going to be for everybody. But I have this offer. It's a million dollars. And I think 20 people took him up on that.

Suz Chadwick [00:03:32]:
Now, the point of the story is that there is always. There is always an audience. There is always a market for what it is that you want to sell. And the thing, and the thing is, is that you're going to have a group of customers in that market, and some of them will be at one end where they're, like, only wanting to pay $500 for something, and you'll have customers that are at the other end that are willing to pay a lot more. And our ability to show up and create the offer and build the brand and make the offer has a lot to do with which end of the scale your audience is willing to be at. And so we're going to talk a lot about this this week. But one of the things I really want you to do is spend a little bit of time really sitting and testing your boundaries, your money boundaries. And what that means is sitting and going, okay, when I think about my offer, if I wanted to charge a thousand dollars, how does that feel? Easy, of course.

Suz Chadwick [00:04:39]:
Like, that's cheap. If I wanted to charge $2,000, how would that feel? Yep, still easy. Still. Okay, if I wanted to charge $10,000, how does that feel? And you might go up in different increments, but I want you to start to do a little bit of pressure testing, that's what I call it on yourself when it comes to your pricing. Because when you start to pressure test yourself with your pricing, there's a couple of questions that can come up. One of them is, do I believe that what I'm offering is of value and Am I willing to charge that amount of money? And if I was willing to charge that amount of money, who, who is the ideal client that is buying that without a second thought? So, for example, if somebody makes me an offer and it's say $500, that is a non decision price point for me. So what a non decision price point for me is that if I really want it, that's not something that I need to think too much about. If it's $1,000, if I really want it, it's probably not too much of a stretch.

Suz Chadwick [00:05:54]:
And so you've got to work out for your audience. And this is where you've got a bit of a client adjustment as well. Because if you're like, my audience wouldn't pay that, you've got a problem. Okay. So there are multiple things that we find that we're going into which can feel a little bit complex if you haven't done this before. But this is what we're doing. We're seeing from last week what it is we want to charge in order to earn what we want this week. We're saying, okay, how can I create the value and how can I charge what it is that I want that's going to get me the outcome that I want.

Suz Chadwick [00:06:33]:
But in the process of doing that, I have to pressure test myself as to what my $10 Mercedes is. So what is it that I'm like, yes, I will charge that much. Yes, I know my ideal client will pay that much. And yes, I know energetically I'm all good for going all in on that amount of money to charge for it. Does that make sense? I just, just give me a yes or no in the comments or give me a nod or headshake. Does that make sense? Okay, cool. So even as we're talking about it, because we want to be people that are open about talking about money, which is another whole thing I don't want to get into. But what is your, what's your pressure test money, like level? Would you charge $2,000 for something? Give me a yes or a no.

Suz Chadwick [00:07:27]:
But what you're doing right now, give me a yes or no. Would you charge $2,000? Let's write it in the chat. You can say no as well. Like, it's fine. There is no right or wrong answer here. Would you charge $5,000? And I really want you to like, feel it. Okay, cool. Maybe.

Suz Chadwick [00:07:51]:
Yeah. And so it feels yucky. You're so interesting. Okay, so Karen, I'd love you to do. We can, we're not Going to talk about it right now, but. But to write down why it feels yucky for those who were saying, yes, would you charge. I said 5,000. Would you charge $7,000 for something and you may not have it in your business yet.

Suz Chadwick [00:08:16]:
I just want to say that there might be something that you could create. And I'm not saying you're going to create it. This is about pressure testing. Is there something that you could create where you're like, I would actually feel okay charging $7,000 for something. I may not have it just yet, but if I created something that I feel would be of a huge worth and value to my audience, yes, I could charge $7,000 maybe. And Lauren, maybe you could get paid that in a day. We're just entertaining new numbers for our brain and our nervous system to be like, what could that look like for a bigger project? Maybe in a month somebody pays you that because you come in and you audit their business and you set up all their systems and you do it fast. So instead of that being, okay, well, that's three months retainer or four months retainer, maybe we do things fast for a client and you get paid because it's done quickly instead of them having to wait three months.

Suz Chadwick [00:09:29]:
So sometimes I'll charge 10,000 for the day because we've got multiple things happening and they get multiple deliverables, but it's all done in one day. And I just want you to know, and this is one thing I want you to understand, is that there are people out there who do what you do, who may or may not be better than you, who are charging much more than. And so sometimes we've got to stretch out thinking as well around it. And this is where your ability to see possibilities in what it is that you do and you offer, but also seeing how am I, can I be energetically aligned to that and can I be focused on it and know that there's an audience that's willing to pay it? And so now we're like shifting our brain, saying, hey, brain, you know something? We could charge $5,000. Brain says, that feels yucky. And Brain says, but we don't have anything that we can charge for that. And Brain says, but I don't really think anybody's going to pay that. And we say, well, that's an interesting brain, because remember, I am not my thoughts, but what if I created something and what if I believed that it was possible? And what about if I positioned it to the right audience? Then all of that is possible because I have Actual proof that there are other people out in the market that are already doing it.

Suz Chadwick [00:10:57]:
So this is not like a pipe dream. This is not something like I've imagined up and it's not possible and nobody's doing it. There are people that are charging a lot more than you are. And I'm not saying to do big leaps and jumps. Like, that's not what I'm saying. But it's about constantly pushing ourselves to say, why wouldn't I charge that if I feel like that's of massive value to my audience and massive value to my clients, and the fact that, yes, they get this big outcome and this big transformation, and I also get rewarded for that because of my expertise and the things that I do and create and help with. I just want to. I'm just going to come into the comments.

Suz Chadwick [00:11:41]:
I just want to know, how does that feel? So just that little bit of a stretch, that pressure test, how does that feel? Does that feel possible? Does it feel a little unsure? Does it feel like it sounds good? Suze? Okay, I just want to come back to the comments. So Karen says because of the doubting the worth of the product charge 5,000, I would have to create a big package to feel it's worth. This is so interesting. So our perception of big packages is that. And once again, this is a pressure test. It's not something that's just gonna happen overnight. It's something that you work on, like over days, months, years, et cetera. But they're like, you could spend a half a day a day with a client where it's like a VIP day or it's two days or something like that.

Suz Chadwick [00:12:38]:
And you could charge $1,000. And my Aussies in the room majority of that time that is USD. So that's the other thing is that there's always a client who is wanting the transformation that you offer that is willing to pay a premium for it. I just want to really give you that there is always a client that wants what you offer and is willing to pay a premium for it because you're very good at what you do. It does feel possible. And opening my mind to bigger possibilities is the start. My great. My brain goes from selling to consumers to business where I can quantify my value and there's a bigger budget.

Suz Chadwick [00:13:28]:
But I also just want you. Like, I feel like we're like, oh, it needs to be really big and grand and huge and massive and all the things if I'm going to charge a lot more. And I also want to pressure that it Doesn't. It can, but it also doesn't have to be. Like, sometimes we feel we have to give more and more and more in order to get more. And the leveling out here is just accepting that the value that you bring is already of huge value. So, for example. And Leslie, I'm going to think about you for a second.

Suz Chadwick [00:14:09]:
So there's photographers that I know that for a shoot, they charge anything from 6 to $10,000 for a shoot. And Lauren, that's for you, too. So they do a whole shoot. It's like there's like a, you know, there's a bit of a styling element. There's my hair and makeup, all the rest of it, but it's like a minimum of six and a half thousand dollars for a shoe. And I think this is the thing, is that when we don't allow ourselves to be exposed to other people in our space, it's like a fine line. It's for research, not for comparison. So it's for what is.

Suz Chadwick [00:14:51]:
What is. What are people in my market paying? Or what are people in my industry charging? Sorry, what are people paying? Where am I in that mix? What would I need to do? And maybe it's an energetic shift to get that kind of client to charge that kind of money if I wanted to. And so I think we've just kind of got to ask ourselves and push ourselves and pressure test ourselves with some of that as well when we're in the process of creative packaging and pricing. Because you're always going to be kind of in this space as well. Like, I was, I was listening to Alex, I'm Ozi on the Weekend. I was just like, if you want to earn more money, and I love this story, if you want to earn more money, just charge more. It sounds really basic, but he said, this is a fable. I don't know if anybody else listens to him or not, but he said, this is a fable.

Suz Chadwick [00:15:49]:
There was a baker, and the baker sold bread for a dollar or whatever. And every day the baker would work, like all day and he would sell out. And so a very rich merchant in the town came to him and said, you should raise your prices. And he said, but if I raise my prices, I'll lose customers? He said, yes, but you'll also make more money. So the next day, the baker raised his prices and he had half the customers, but he still earned enough money and was working less. So he earned the same amount of money as the day before because he doubled his prices, but he worked less. And so the Merchant said to him, I would encourage you to raise your prices more. And the banker was like, no, like, I'm not going to have any customers.

Suz Chadwick [00:16:38]:
And he said, just try it. So he raised his prices more and he had less customers, but he made more money. And with the time that he wasn't working, because he only now worked half the day and earned the same amount of money, if not more than he was when he was working and selling out and being very cheap, he then started to create new products which he then charged more for. And he had more time for his family, and he had more time to work out the systems in the business to become more efficient and then hire somebody else. And by creating those new products and raising his prices, not only was he now earning so much more than he was before, but he had more time and he had more efficiencies. And so what we do is that we're like, I have to earn every cent in every minute with my blood, sweat and tears. We're like sometimes in that where it's like, if I haven't given them my firstborn, then I can't charge $5,000. And I want to shift your thinking that it's possible for you to charge more and for you not to give everything away and that there are people who value you highly enough to pay you that kind of money.

Suz Chadwick [00:18:00]:
People are only going to pay us as much as we charge, and we're only going to charge as much as we value what we do. And if we don't value it at a higher level, nobody else is going to value it at a higher level. And that's the pressure test. And it's scary and it's awkward and it's uncomfortable, but if we can do it incrementally, where we're like, okay, so my very first coaching package that I ever did for three months was $1,500. That was my very first coaching package. And Now I charge 10,000. And I have people that come to me and they're like, oh, cool. And I think, damn, I should have charged more.

Suz Chadwick [00:18:48]:
Oh, awesome. Okay, that's fine. That's annoying when somebody says yes too quickly. You know you have to raise your price. I'm just going to come back into the chat for a second. Okay. Lauren says it does feel possible. Yeah.

Suz Chadwick [00:19:05]:
Open my mind. My brain definitely leans towards the give more to get more. Leslie, it's such an interesting one, too. I just really want you to understand the dynamics of this. And it was interesting. I was working with somebody in collaboration recently and she kept saying, we've really got to bring it suits. Like, it's got to be really good. It's got to be, like, amazing.

Suz Chadwick [00:19:31]:
And I just said to her, what else would it be? Like, what else would it. You and I are doing this. What else is it going to be? Why? Because I understand what her value is and I understand what my value is. I don't feel like I need to, like, bring it, because bringing it is what I do every day. It's not like I'm not going above and beyond when I bring it. That's like, who I am. So I think that this comes into identity as well. It's like when you know, you're like, I'm really good at what I do.

Suz Chadwick [00:20:05]:
But if you're really good at what you do, you don't need to give more to get more. You've just got to price it better because you're already bringing it. You don't have to be like, oh, I just gotta give more. I'm still like, there's so much more I've got to give. And then. And then they'll value it more. No, we've just got to be okay and be like, I know what I give and I. And the biggest gap is communicating the value.

Suz Chadwick [00:20:34]:
So when I see somebody and I'm going to use a photographer that I know who charges like 6 to 10,000, she's always like, her socials are great. Like, I'm always seeing behind the scenes. I'm always seeing the shoots. I'm always seeing the clients sitting in the makeup chair and dancing and having the stylist. Like, I. It's about communicating the value. One thing you can't do is be like, I'm amazing. I'm going to charge $10,000 and I'm going to not talk about it at all then.

Suz Chadwick [00:21:07]:
Doesn't work. The reason that people can charge a lot more, the reason that they're positioned in the market, their brand positioning, is at the level where people are more than happy to pay, is because their visibility communicates the value of what the experience is. Like, does that make sense? Is like, we buy with our eyes, we buy with our ears. When I'm like, listening to somebody online and they're like, oh, my gosh. So one of my clients had this transformation, or, you know, we did this incredible retreat and we've like, it's five star, and it's massages and it's like transformations galore. Pop, pop, pop, pop. And like, people like, oh, my gosh. Like, I've got to come to the next one.

Suz Chadwick [00:21:57]:
So it's. There has to be. It's like a. I decide that this is what my pricing and packages is going to be. I believe that I am of value. I believe that I don't always have to give more. But the one thing I will say with that is that you can always load it with things that don't cost you your time and effort. So, you know, when somebody buys from you and they buy a shoot or they buy coaching or they buy OBM work or whatever, it's like you not only get this, but you get all these things that I've created previously that don't actually cost me any time and money, but I give them to you as a bonus and it's a huge value to them.

Suz Chadwick [00:22:35]:
So that's one thing you can do with your packages. But then you've got to communicate the value. You've got to communicate the transformation. You've got to communicate the win. And that is where I think one of the biggest gaps are when people are like, I can't charge more because I don't think people will pay it. And I think if it's of great value and others are charging more and you feel like you're comparative to the experience and the outcome of the transformation that you give people, you've got to communicate it. They're just communicating it better. If you're sitting in there going, why can they charge that and I can't? They're communicating it better than giving people a reason to buy.

Suz Chadwick [00:23:18]:
They're building aspirational desire. Aspirational desire is where I see something and I'm like, that's now on my vision board, that person. I'm going to work with them one day. I'm going to buy from them one day. They're the person that, like, when I can afford that, I'm actually not going to go with the cheaper option. I'm going to wait. And when I can afford it, I'm going to work with them. But that only happens through you communicating it.

Suz Chadwick [00:23:49]:
Even though I've had multiple clients over the years tell me that what I offer is so much I should raise my prices. And so Leslie, like, why? Lisa says, or maybe I just put my product in a better wrapper, a different twist, a better brand. Absolutely. And that's what I mean. Sometimes you've just got to package it better. If I give you a present in a plastic bag, a supermarket, cheap plastic bag, and I say, here's a gift for you, you're going to Be like, awesome. Thanks. Your expectations, what are they going to be? They're going to be low.

Suz Chadwick [00:24:21]:
If I have a beautiful, like, gift wrapped with bows and a card and I'm like, here, you're going to be like, oh, my gosh, what is it? So exciting. You've got to wrap it. Wow. The quality of the present inside the box is great, but you've got to be able to present it. So then it's something that people will pay a premium for. You've got to deliver. Yes, You've got to be great. But a lot of it is about perception.

Suz Chadwick [00:24:54]:
Like, make me want to buy from you. Make me want to buy from you. If you look at everything you put out into the world, whether it's social, whether it's in person, no matter what it is, do you think you make people want to buy from you? How good is your wrapping? Or is it crappy? Lizzie says a limiting belief that comes up as well is people in the city are willing to pay that, that people in the regions aren't. Oh, my God. Have you seen the median price of people who live on the coast? Like the median earnings of people who live on the coast? It's not cheap to live on the coast, trust me. I looked, I was looking at a three bedroom unit in Torquay and it was $3.5 million for a little unit. Don't assume that people on the coast, Leslie, are not willing to pay. They've got money girls and they got a lot of it.

Suz Chadwick [00:25:54]:
So that is what this week is all about, is pressure testing your pricing mindset. Really having a think about if I want to charge more, what needs to shift, and it may not be more stuff. It might need to be the wrapping. It might need to be the communication. It might need to be the communication at the transformation. Yeah. Because when you do that, that is what's going to shift. And I was speaking to a girlfriend who's a marketing consultant and she's really good on TikTok and stuff and she's just like, people with less experience who are nowhere near as good as you are, making a hell of a lot of money because they're willing to package it and talk about it and communicate it more.

Suz Chadwick [00:26:42]:
And I know that's a big challenge. It's a challenge for me sometimes. But we've got to make a decision about what we want to happen and how during the process of us working together, you're going to make those shifts. What needs to shift in you for you to be like, I'm going to Have a VIP package. I'm going to talk about it, I'm going to offer it. It's going to be freaking like stretching me, but I'm going to put it out there and see what, see what you come up with. Creative packaging. What is your VIP offer? Is it a VIP day? Is it a VIP transformation? Like if you were to think about the best thing that you could do with somebody that would be amazing, what would that be? So just for me and I don't have this offer, but what it could be is that we go away to like a luxury hotel for two days and one night and we've got incredible food and we just spend the first like three quarters of the day doing their strategy, planning it out, getting it all ready, et cetera.

Suz Chadwick [00:27:49]:
And then we like go, we can do massages and have this like incredible, just like awesome conversations. And then the next day they do like a video and they photo shoot and everything and then that all gets delivered to them and then we have like a wrap up of like how they get it implemented all and it's. And then like at the end they get like a really cool gift or something like that. And it's just like this incredible VIP two day experience that makes them feel like a queen and so luxurious and so amazing so that they feel like they want to elevate their brand to that. And it's like $20,000, $25,000 and they're just like, oh my God, that was the best money I ever spe. Like just imagine like whatever yours is. I love all those things. I like luxury hotels and massages and spas.

Suz Chadwick [00:28:44]:
Yes. Like all of those sign me up. Like them being totally immersed in what they want and how they're going to show up and what they're going to create. And we plan it all and then we like execute it and we do it in style. That's my kind of VIP experience. Yours might be completely different, but I want you to really think about. I'd love you to drop it in the group. What would your ideal dream VIP experience for your clients be and how much would you charge? This doesn't have to be something that you do, but I want to stretch your thinking.

Suz Chadwick [00:29:22]:
I want you to think about your client, their desires, what they need, their transformation and how could you make it irresistible? Because even if you do that, it's just like, it's the whole thing of, you know, what is that if you reach for the moons, you might hit the stars. Like it's like think bigger and then something else might come out of it that may not be right at that level but it could be the start of something else and we want to be vying for the people who are just like I'm all in, like what have you got for me? I just want it all. You're gonna have lots of people who are not there but I want you to think about the people that are like just give it to me Susan. I mean I've had a couple of clients in the last 12 months that have done all of that. They're like six month coaching, full day shoots like all other things that we've done and it's been like 20 grand and they've not blink, not blink. And I just want you to know that there are clients out there that want to work with you that love what you deliver and do and they will not blink. So about having a thousand of you might need 10, think a little bigger.