Here's a photo capturing behavior that was rampant in the Atlanta area over the past several days as a winter storm approached.
We might chuckle at such behavior, yet many of us unconsciously operate from this same mindset of scarcity in our professional lives.
For a coach, consultant, or some other professional selling their expertise, the symptoms of a mindset of scarcity include:
Signing every client that comes our way, regardless of whether they are best fits for us.
Saying "we can do that" to everything, regardless of whether "that" involves our expertise.
Reluctance to raise prices because we might lose clients.
Just like hoarding milk, operating from scarcity creates several problems, including:
The "milk" (client relationships) spoils because we've taken on clients whose needs we cannot adequately address.
Because we have too many poor-fit clients, we don't have enough room in the "refrigerator" for best-fit clients when they appear.
We appear desperate or unprofessional to potential clients and to our network in general.
Our reluctance to raise prices causes struggles in our business.
The voice of scarcity whispers, “There’s not enough,” but it’s a lie. When we operate from a mindset of generosity—trusting in the value clients tell us we have given them—several things happen:
We naturally attract those who want to help us in our business, leading to referrals and opportunities for growth.
We help clients who aren’t great fits to find another professional who can do a better job for them than we can. It’s better for those clients and frees us up to deliver more value to our best-fit clients.
Because of our focus on best-fit clients and the exceptional value we’re able to deliver to them, we are much more confident in our ability to price relative to that value.
We’re much happier professionally and personally.
The Generosity Mindset™ isn’t about ignoring the reality of business cycles or challenges. It’s about leaning into the value we deliver—not what we think that value is, but what clients perceive.
When we let go of the milk-hoarding mentality, we find that we have plenty already.
Image Credit: Everything Georgia
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Are you frustrated by your pricing? Need help articulating your value? Do you need a better way to identify and close your best-fit clients? Do you want to restore the joy you used to have for your business? I may be able to help you.
I’m John Ray, a business consultant and coach, author, and podcaster. I advise solopreneurs and small professional services firms on their two most frustrating problems: pricing and business development. I’m passionate about how changes in mindset, positioning, and pricing change the trajectory of a business and the lifestyle choices of a business owner. My clients are professionals who are selling their expertise, such as consultants, coaches, attorneys, CPAs, accountants and bookkeepers, marketing professionals, and other professional services practitioners. Click here to learn more or contact me directly.
I’m the author of the national bestseller, The Generosity Mindset: A Journey to Business Success by Raising Your Confidence, Value, and Prices. The book covers topics like value and adopting a mindset of value, pricing your services more effectively, proposals, and essential elements of growing your business. The book is available at all major physical and online book retailers.
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