What you will learn from this episode:
- Find out how you can achieve a better work-life balance by only having a few clients and still earning more profits in your beauty business.
- Discover the 3 essentials for establishing higher prices so that you can strengthen your profits and help your prospective clients say yes to buying your products/services.
- Learn how to develop an excellent money mindset so that you are not afraid of increasing your prices.
- Understand how to lower your prospective client's perceived purchasing risk so that you get more yeses and sales of your service.
- Hear about the pricing psychology of how you can anchor your prices to convey the service's value for more sales overall.
You may think having more clients means earning more; therefore, you may be afraid to raise your prices with the thought of potentially losing clients and income. But, on the contrary, you can make more money with less work because there's a more innovative way to manage your business without sacrificing so much of your precious time and energy.
What are the best ways to increase your profits with fewer clients? How can you overcome your negative subconscious thoughts and beliefs about money? How do you showcase your services so that the value outweighs the price in the prospect's mind?
Beauty professionals April Meese, Karen Betts, and Vicky Martin share essential and valuable practices, insights, and real-life experiences of setting or increasing your prices---without the fear of losing clients.
00:56 - Why you shouldn't look at your competitors for determining your prices
02:57 - How your beliefs will influence your prosperity
05:28 - Ways of reprogramming your thoughts for a wealthy mindset
07:01 - How you can earn even more with few clients
12:25 - Looking at areas where you might be leaking profits
13:30 - The 3 Essentials to prepare for and help you establish higher prices
15:02 - How to lower the perceived risk for your prospect so that you get more yeses for your beauty services
15:53 - Creating mental exercises with a few 'mind gym' tasks
20:48 - How to turn your goals into reality
24:19 - Lessons learned from lowering prices
26:14 - What it means to use pricing psychology to anchor your prices
27: 23 - Real beauty business examples for more sales
“Testimonials are a great way to lower the (perceived) risk (for the prospect), and to actually bring in clients not just for marketing, but for them also telling other people.” - April Meese
“One of the things to do is to anchor your prices, and this is sometimes called chunking up or chunking down.” - April Meese
“Reprogramming your mind and changing a belief that you got when you were a child is through repetition. You can create new programming by doing something over and over again.” - Vicky Martin
“The first thing you need to do to create your money dream is you need clarity, you need to know what you want.” - Vicky Martin
“One that you could do, you could quite easily put a picture on your screensaver of your dream holiday, the business you want just something powerful. Your mind is so incredible. It's got like a mirror neuron in it, your mind will draw you to what you look at. So put good things in front of it. And that is my mind gym.”- Vicky Martin
“Do not be afraid to put your prices up. You need to know that you're worth that value.” - Karen Betts
“Now you will see our prices, permanent makeup started getting higher, because I know we could prove our value and what we do for our students. I'm now not afraid because I've proven myself, I feel that I've undervalued our training, and I will now be putting those prices higher. But I've had to prove it to myself, you need to make sure that you charge what you know your value is and make sure your prices are higher.” - Karen Betts
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