I did something yesterday that absolutely terrifies the heck out of me. It’s something that’s well outside of my comfort zone and brought out feelings of imposter syndrome. I made a decision and pulled the trigger.
For all the new consulting offers my attorney and I were negotiating (and in the future), we sent counter offers back informing the companies that my new standard fee is $75,000 per three-hour training on each of my consulting topics.
I started my lifestyle business in the online space and it conditioned me to charge lower prices. $97 to $497 courses, $100 to $300 an hour coaching, and anything above $1,000 is considered “high-end.” The online space rates would be considered super low in the consulting at companies space. A company would think that a consultant doesn’t know their value charging those kinds of prices.
A History of Imposter Syndrome
I owned a service business in the vendor industry that had me delivering bread for 12 years. I didn’t touch computers and knew nothing about making money online. Discovering podcasts turned me on to this new world of opportunity. Coming from that kind of background, I constantly battled imposter syndrome. I felt like, as a bread dude, I had no place writing and teaching people anything. It took a lot of work to beat that mindset.
It took a lot of mental work to get my mindset to the point of being comfortable charging for my services. It took more work to get to the standard prices online. It took a major shift to pivot at the beginning of this year into mainly consulting and charging $45,000 per three-hour consulting training at corporations.
I raised my online prices by a factor of six and closed down most of what I do online to focus mainly on companies. I know it’s now time for my next growth level and another mindset shift.
Beating Your Inner Imposter
I’m nervous that companies will laugh when they see my rates. I’m scared that business could dry up. I feel like an imposter when I think about my past. Despite all of these self-limiting beliefs, I’m going for it anyway. I know this is what I need in my life and business.
I’m telling myself to focus on this: these companies are approaching me. I’m not pitching them trying to convince them. They want to hire me, they see the value in my content, and are already convinced that I’m the consultant they want. I can charge more because I have the experience (I’ve done consulting gigs at companies in 71 countries), expertise, and results. I also reminded myself that companies pay based on of value, not time. I’m ready for explosive growth in life and business, and to scale this thing!
But, what about you? Each of us struggles with imposter syndrome no matter where we are on our dream-chasing journey. Imposter syndrome derails some and makes others quit entirely. Here’s the thing, each of us has a choice to make. You can believe your self-limiting beliefs or you can prove them wrong. There is no in-between.
At the end of the day, you make progress when you take massive action. You have to take action despite how you feel. To make your goals a reality, you have to take small steps day in and day out working towards the bigger goal. You prove your imposter syndrome wrong when you take action, learn more about your craft, and start to see the fruits of your labor. Don’t let imposter syndrome keep you from living an amazing life.
Who else needs to raise their prices?
This article really helped me today. I have been waiting to pitch a luxury client for a listing in my area. I was supposed to call her on Thursday to try and get in. As soon as i read your article, I called her and got the appointment for next week. I also found the courage to call another client who has been sitting on the fence. And like a miracle he picked up the phone and said he was still interested in selling his house and that i should call him back later in the week to schedule a appointment. So this stuff works. Its just getting the courage to do it and BELIEVE regardless of the outcome. Thanks for leading the way.
It’s super inspiring to see you taking massive action! HUGE congrats and this is just the beginning.
I have been reading your book “Stop Chasing Influencers”. It’s a game changer in my life. Now, I just read this post and I’m so inspired. I was homeless and sleeping in my car in 2014. Last year for Christmas I gave two cars away to families less fortunate. I’ve been wanting to start an online coaching company and have faced everything you’ve brought up on your blog. Your transparency helped me so much! Thanks bro!
I’m super glad you’re getting value 🙂