The Price Is The Price

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Ever had this sitting in your chair? I mean, seriously? Standing firm on your prices and also making sure you are increasing prices over time is so very important for a ton of reasons; but the most obvious is so you can be financially stable and hopefully save for retirement. 

Let’s face it; most of us probably won’t want to still be out there hustling when we've reached our golden years. I talk to lots and lots of stylist who need to raise prices but haven’t out of fear they will lose clients. Look: you can't be all things to all people. Your target market will pay what the marketplace has proved it will pay.

Morton’s Steakhouse in Nashville does NOT lower their prices on Filet to match prices with the Logan’s Steak House Filet. This isn’t a strike against Logan’s, it’s good. But the point is this: both restaurants offer many of the same steaks….but they play to their market and market toward the type clientele they wish to attract.

Logan’s is a casual laid back atmosphere, peanut shells on the floor, and servers in t-shirts and jeans. Morton’s is white tablecloth, with servers in tuxedo shirts, dress pants, and 200 wines on the menu. Morton’s isn’t just selling steaks and wine, they're selling an experience. 

So, back to the beginning, you wouldn’t go to Morton’s and ask, “I'm only going to eat half of my steak, can I just pay for half of it?” Of course not, that’s beyond ridiculous. 

Don't compromise, your prices are non-negotiable. You’re a professional – charge what your worth. Focus in on the kind of great clients you want on your book, and cater your service menu to them. 

Sell the experience – not just the service. You deserve the best! 

♥ Heather 

#theheathersmithproject

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