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Why Underpricing (and Overdelivering) Is Creating Business Burnout

by | Last updated: Apr 14, 2022 | Podcast

We women entrepreneurs keep underpricing ourselves when offering the same service or product as our male counterparts. On average, we price up to 20% less. When I first heard that, I was blown away!

Pricing is one of the quickest and most powerful ways to adjust your business trajectory and make it more sustainable. I’ve seen it in my business and those of my clients. So in this episode, I discuss why properly pricing your offers is the first step to designing a successful sustainable business.

On this episode of Promote Yourself to CEO:

3:36 – What is the feast or famine zone, and does your business fall into it? Discover the two biggest reasons why businesses in this zone struggle to compete. 

8:40 – I demonstrate how underpricing can easily lead to overworking by using the example of a wedding photographer.

12:18 – Taking the wedding photographer example further, this simple step is an easy way to improve your profitability and ease burnout.

14:42 – What if you want to double your rates? You need to take a deeper look at these factors in your business.

17:42 – Pricing impacts other aspects of your business. Michalowicz’s Profit First percentages can help you figure out the math to meet your revenue goal.

20:43 – I push back against the hype of online gurus who have a certain mindset about pricing. There’s a reason why I primarily work with service providers.

23:50 – What if you’re not used to selling at a higher price or booking multiple sessions at a time per client?

26:55 – Here’s why you don’t need a large audience to get enough clients for your higher-priced programs and services. I give you a behind-the-scenes look.

28:52 – Keep these questions in mind as you crunch your numbers.

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This post is just part 2 of a much bigger series: 3 Key Strategies to End Hustle and Entrepreneurial Burnout

If you’re ready for a business that doesn’t require working 24/7 and to finally get out of the feast or famine cycle – you’re in the right place! Here’s what you can expect from the series:

1: How Hustle Culture Creates Entrepreneurial Poverty for Women Entrepreneurs
2: Why Underpricing (& Overdelivering) Is Creating Business Burnout

3: Increasing Profit and Decreasing Burnout: A Case Study with Sarah Young

4: Your Profit Roadmap for More Sales & a Truly Sustainable Business
5: From Struggling to Selling Out Your Offers: A Case Study with Leesa Klich
6: Avoid Hustle & Burnout with The Hidden Money in Your Business

If you’ve been loving this series – join the waitlist for The CEO Collective to be the first to know when we open the doors to new members PLUS get a waitlist only bonus!

Keep learning! >>> Increasing Profit and Decreasing Burnout: A Case Study with Sarah Young