The Goldilocks Strategy for Getting Clients that Fit Just-Right A Teleclass Tuesdays at 9:00 AM PDT (noon EDT), June 24 - July 29 Only two spaces left! Visit the Goldilocks Page for more info. The Way of the Accidental Entrepreneur Women’s Business Exchange, Seattle, WA June 12, 7:30 AM It has happened to many of us. You have fantastic passion and talent for something in your life, and then, be it by organic seed or cataclysmic event, that calling leads you down the path of self-employment. You don’t have a map. You don’t even have a teeny bit of fabric or string to use as a trail marker. But are you lost? Nope! And Thursday morning in Seattle, I’ll be explaining why your personal journey can align so well with your business journey that they nourish and guide each other, enabling the growth of a successful business that is a beautiful reflection of you. All that in 30 minutes! The Law of Attraction: What Abundance Gurus Don’t Tell You Keynote for the Capital Coaches Conference, Washington, DC June 13, 2008 What do you do when real life collides with The Law of Attraction and, in spite of the best efforts of you and your clients, success remains elusive? That’s what I’ll be exploring with the coaches in the Washington DC Metro area on Thursday morning. Wish me well! How to Get Clients Without Shouting Workshop for Bizjam, Seattle, WA July 9-10, 2008 Bizjam Seattle is an indie business conference dedicated to helping you grow your small business using social media such as blogs, social networks and online communities. The Bedside Table Book Thinking, Cheri Britton Okay, I’m not actually reading this now, but I did read a review copy two months ago. A few days after reading it, I found myself talking about it in a session with a client. Why? Because Cheri’s approach is vivid, fresh, and practical. If you are looking for a motivational kick-start, this is a good one. Revised Teleclass Schedule Coming Soon Photo by Dan McComb from a Biznik Workshop on pricing I led earlier this year. That’s me on the left with my hand up. I’m in the midst of a remedial organizing project, and the schedule for teleclasses through 2009 is being revised. I’ll let you know as soon as the schedule is complete and available on the Web.

Can You Charge Less Without Feeling Small?

It’s said that your fees are a reflection of your self-esteem. If you charge less, you value yourself less, and vice versa.

Believe it or not, I disagree.

Fees are not about you. They are a measure of the value of your work as perceived by the person who hires you.

There’s More to Value Than Dollars and Cents
In early May, a cyclone struck Myanmar (Burma), MSF killing over 130,000 people. Cholera is endemic in the area. The reclusive generals that head Myanmar’s military government resent foreign intrusion.

When well-heeled physicians from Boston or Seattle volunteer to help in Myanmar, we don’t assume there is something wrong with their self-esteem or that they lack skill. On an entirely different note, when the grocery store runs a special on milk, customers in the check-out line don’t whisper that the manager is has lost confidence in the dairy.

Photo credit: Myanmar 2008 © Robert Genest/MSF An MSF staff member treats a mother and children in Bogaley.

In these situations, we understand that price is only one component of value. For the doctors, the opportunity to give back may be priceless. For the grocer, getting customers in the store is worth many times the cost of the discounted milk.

What Makes Lower (or No) Fees Work
The key to using lower fees without sending yourself or the world a negative message is to be clear about two things: the purpose of charging less and the real structure of compensation.

About a year after I started coaching, an attorney I knew invited me to lunch. She wanted to understand coaching so she could refer people appropriately.

At the end of lunch, she appreciated the conversation and, while she knew more than before, she still wasn’t quite clear about what I did. I thanked her, then went home and fretted. A few days later, I realized that coaching was so new and unfamiliar that even the best definition was likely to fall short of giving a real understanding of the work.

So I invited her to become my client for three months at no charge. What was I thinking?

Build Powerful Referral Sources
In the situation above, the client had already told me she wanted to send me business. She was an accomplished, highly motivated woman with a happy home life. To tell the truth, I was a little intimidated by how together she seemed.

For me, the purpose of the pro bono work was to educate a powerful referral source. Part of my compensation was getting the opportunity to coach someone whom I respected and admired.

If you offer sample sessions, and they aren’t working, consider making a bolder offer to someone who’d be a powerful source of referrals instead. Be sure to choose someone that you know will be motivated enough to reap the full benefits.

Create a Comfort Zone
Lower fees can create a comfort zone for a new practitioner. Provided that this comfort zone doesn’t turn into what Cheri Britten calls “a velvet rut,” charging a bit less than the “going rate” can have definite advantages.

For the client, lower rates reduce the risk of hiring an unknown.  In turn, that takes some of the pressure off you. When both you and your client are worried about making every minute count, it can be difficult to be truly present. And who does their best work if they’re thinking about money instead of the relationship?

In this situation, the purpose of the lower rates is to create a comfort zone and part of the compensation is gaining experience.

Refine the Focus of Your Business
Another reason to offer a reduced fee or no fee at all is to refine the focus of your business or change your niche.

Say you’re a body worker. Until now, you’ve been happy to take any client who walks through the door. But the truth is, you’ve always wanted to work with athletes.

Offering a special through a business or organization that caters to athletes can be an effective way of getting both experience and exposure. This might look like a gift certificate for the first 50 people to complete a triathlon or a discount to members of the Masters Swim Team.

You get to work with a chosen clientele at a higher level of expertise. They get body work at a reduced price from a practitioner who really cares about their issues.

The purpose is to refine the focus of your business. Part of the compensation is exposure to your just-right clients and experience working with them.

Build Momentum
Lower rates can also help you build momentum, provided you use them strategically.

Let’s say you are an acupuncturist, and you’ve had a steady flow of about 15 clients a week. You want to double that.

Much as you want more business, you may be intimidated by the prospect of working with twice as many people. Given the old maxim that work tends to expand to fit the available time, you think about your current clients a lot. Won’t it be exhausting to have more?

In this situation, you might offer a special rate to selected people for a limited time. You’d choose people who fit certain criteria, such as commitment to well being, healthy lifestyle, and the ability to give articulate feedback. You’d set aside a specific number of appointments each week for these folks, and you’d establish a waiting list when those times are filled.

By coupling reduced rates with a waiting list, you create momentum. Your compensation includes getting to work with a waiting list (a powerful psychological shift) and gaining experience working with more people at a time.

Less Can Be More

You don’t need to be a doctor or a grocer to see where lower fees can work in your overall business strategy. Just be sure that, whatever you charge, you are clear about two things: the purpose of charging less and the real structure of compensation.

Until next week,

---

Talk back: I love to hear from you, and I read every letter personally. Send your thoughts to letters@authenticpromotion.com. And be sure to let me know if you prefer not to be quoted.

---

Privacy Statement & Subscriber Info

This mailing is part of a regular series of more or less weekly newsletters and informational mailings about our products and services. It is sent only to confirmed, double opt-in subscribers who have signed up at mollygordon.com, shaboominc.com, authenticpromotion.com, learntolovemarketing.com, or by emailing a subscription request or signing up at a partner Web site.

To update your subscription address, please click here.

If you no longer wish to receive mail from us, click the *** link below or email mailto:unsub@authenticpromotion.com.
***

---

Publication and Reprint Info

U.S. Library of Congress ISSN: 1530-311X
Unless otherwise attributed, all material is written and edited by Molly Gordon, MCC. Copyright (c) Shaboom Inc.(r) 2008. All rights reserved. Visit our extensive archives at www.mollygordon.com .

You may reprint material from Authentic Promotion in other electronic or print publications provided the above copyright notice and a link to http://www.authenticpromotion.com is included in the credits. Please send a copy of the publication along with a note referencing the reprint.

"Shaboom, Inc." and "Authentic Promotion" are registered trade or service marks of Shaboom, Inc. All other trademarks are property of their respective owners.

Shaboom, Inc
Life could be a dream!
PO Box 195
18718 Third Avenue NE
Suquamish, WA 98392-0195
P 360-697-7022
F 801-996-7022