Pricing insights for women-led businesses
Send us a text How can women-led businesses determine their pricing strategy? Today’s episode features Shannon Tacheny, an accomplished brand strategist and owner of Feather Blue Studios. Shannon's entrepreneurial journey is truly inspiring. From photography to brand strategy and marketing and business coaching, she has continually evolved her approach to pricing and value. Our conversation explores the pivotal moments that shaped Shannon's pricing philosophy. She reveals the liberating reali...
How can women-led businesses determine their pricing strategy?
Today’s episode features Shannon Tacheny, an accomplished brand strategist and owner of Feather Blue Studios. Shannon's entrepreneurial journey is truly inspiring. From photography to brand strategy and marketing and business coaching, she has continually evolved her approach to pricing and value.
Our conversation explores the pivotal moments that shaped Shannon's pricing philosophy. She reveals the liberating realization that there are no fixed limits to what clients might pay for a product or service. It all comes down to who we are targeting, what they value and what you feel is possible for your business. This episode explores pricing as a powerful tool for positioning, growth, and creating meaningful impact.
About this Episode’s Guest
Meet Shannon Tacheny, a dynamic brand and marketing strategist dedicated to empowering big-hearted female entrepreneurs. With over 15 years of entrepreneurial experience spanning multiple industries, Shannon is passionate about helping women embrace their unique gifts and personalities to attract clients authentically.
Through her expertise in crafting compelling brand stories and simplifying online marketing strategies, she guides entrepreneurs towards success without sacrificing authenticity or burning out. Based in Minnesota with her family, Shannon finds joy in fostering confidence and purpose in others while indulging in simple pleasures like chai tea, dark chocolate, and the serenity of the beach.
Come along as we explore Shannon's path, glean from her wisdom, and uncover practical advice for mastering the skill of confidently setting prices.
What to Listen out for:
- 00:00 Intro
- 00:45 Meet Shannon
- 03:59 Starting a Business: Challenges and Inspirations
- 17:12 Transition to Marketing and Brand Strategy
- 18:37 Struggles with Project Management and Pricing
- 20:45 Balancing Purpose and Profit
- 25:29 Understanding Client Value Perception
- 28:32 Celebrating Pricing Successes
- 30:30 Final Thoughts
Episode Links:
Connect with Shannon:
Instagram: https://www.instagram.com/featherbluestudios/
Facebook: https://www.facebook.com/FeatherBlueStudios/
Recommended book: "10X is Easier Than 2X"
Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.
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Hi I'm Janene, Let’s Take the Next Step Together
Pricing can feel confusing or overwhelming — and that’s completely normal. I’m here to help you gain clarity and confidence.
If you’re ready for personalized support and real solutions, book a call and let’s talk about your unique pricing challenges.
https://thepricinglady.com/book-a-call/
Not quite ready? Visit my Resources page to explore guides and tools that meet you where you are — including the friendly Pricing Scorecard to help you uncover opportunities without any pressure.
https://thepricinglady.com/resources/
No matter where you are in your pricing journey, the next right step is waiting for you.
Mentioned in this episode:
The Pricing Lady is a proud member of the SwissCast Network
Discover more great podcasts for English-speaking Switzerland
Welcome to Live With The Pricing Lady.
Speaker:I'm Janene, your hostess.
Speaker:This show is all about helping you build a sustainably profitable
Speaker:business while making an unbelievable impact on your world.
Speaker:Learn from my 20 years of experience and from my guests as we discuss their pricing
Speaker:challenges, failures, and successes.
Speaker:Pricing is a way of being or behaving in your business.
Speaker:My mission is to help you confidently charge for the value you deliver.
Speaker:Pricing is either hurting or helping your business.
Speaker:Let's make sure it's helping you reach your dreams.
Speaker:In this episode of Live with The Pricing Lady, I sit down with
Speaker:Shannon Tacheny brand strategist and owner of feather blue studios.
Speaker:Shannon has priced so many different things over her entrepreneurial career.
Speaker:And she's sitting down to share with us her journey and what that
Speaker:meant for her over the years.
Speaker:I found this episode absolutely inspiring, and I hope you will too.
Speaker:So sit back, relax and enjoy the episode.
Speaker:Welcome to today's guest Shannon Tacheny.
Speaker:Hi, Shannon.
Speaker:Hi, Janene.
Speaker:So happy to be here.
Speaker:Thanks for having me.
Speaker:I'm super excited to have this conversation with you.
Speaker:Shannon, why don't we start with where you're joining us from today?
Speaker:I'm in Minnesota in the United States.
Speaker:Excellent.
Speaker:I'm near Minneapolis, Saint Paul area.
Speaker:What would you call your superpower?
Speaker:You know I think that My superpower is taking what people have in
Speaker:their business, like what women have to give and connecting it to
Speaker:the person who needs to find them.
Speaker:So I do that mostly through like, you know, brand strategy, messaging
Speaker:design, but it's like this instant, what, what can I pull out from you
Speaker:that can connect you to what the person needs to hear to find you?
Speaker:And I just feel like it's a combination of empathy and communication skills.
Speaker:That's kind of where I thrive.
Speaker:Oh, that's really, that's so wonderful.
Speaker:I can imagine that with your clients, that makes a huge difference to them because I
Speaker:mean, quite frankly, that's what for most people who are starting businesses, you
Speaker:know, that's sort of part of the element that they're missing is that connection.
Speaker:Yeah.
Speaker:And we all need an outside person I think to help us See what we
Speaker:really have to bring to the table.
Speaker:Yeah, it's hard to, you know, see the forest through the tree, so to speak.
Speaker:So, you get a different perspective when somebody else is looking at it.
Speaker:Yeah.
Speaker:So Janene, what is one interesting thing that most people don't know about
Speaker:you that you'd like to share with us?
Speaker:Yeah.
Speaker:I was telling you earlier that I lived in Paris for six weeks.
Speaker:This was kind of like during college years.
Speaker:And, I had been studying communications and graphic design and marketing.
Speaker:I had always wanted to go to Paris and I found a way to take
Speaker:a photography class there that I needed for my graphic design minor.
Speaker:And so I signed up for this class and like, wonder upon wonder, somebody
Speaker:from my school who, my boyfriend at the time knew was going to.
Speaker:So it was this great experience.
Speaker:We got to go to Paris and live there for six weeks.
Speaker:The funny part is that we walked by the Eiffel Tower literally every
Speaker:day on the way to our class, but we never ever went to the top.
Speaker:So I just find it very ironic.
Speaker:We went all the way to Paris.
Speaker:We did a lot of amazing things, but here we are in this space and never
Speaker:went to the top of the Eiffel Tower.
Speaker:We'll go
Speaker:back and do it.
Speaker:But
Speaker:we'll say, have you been back and did you do it?
Speaker:Not yet!
Speaker:Uh oh!
Speaker:No, and my husband really wants to hit Italy, so I feel like if we go to Europe
Speaker:again, we'll hit Italy, and maybe I can do a little side tour, you know, of France.
Speaker:You can stop by and say hi to me, because I'm right in between the two!
Speaker:That would be marvelous!
Speaker:Cool, excellent.
Speaker:So, yeah, so I guess there's definitely something on your to do list there.
Speaker:Yeah.
Speaker:Okay, Shannon, why don't you share with us about what you, what led you
Speaker:to starting your own business and how that process was like for you?
Speaker:Yeah, well, I mean, as somebody who's had sort of multiple businesses along a
Speaker:journey, I think for me, quite honestly, starting as an entrepreneur, really
Speaker:young, like right out of college.
Speaker:It was just a gut instinct and a drive.
Speaker:I mean, I don't think I recognized that, you know, at the time, you
Speaker:know, you're in college and you're on the path to get the career role.
Speaker:And, you know, here I was thinking I was going to go into advertising.
Speaker:So I'm like, well, I need to work more on my portfolio before I can get a job and
Speaker:learn some new programs and these things.
Speaker:And so.
Speaker:You know, you kind of, put the brake on the actual like full time job thing,
Speaker:but really I think it's cause I just had my heart to do all these things.
Speaker:Right.
Speaker:So, I started designing handbags and jewelry was my very original
Speaker:business that was kind of on my heart in college and that I just kind of
Speaker:dove into and I was able to work.
Speaker:for a part time, worked part time for a jewelry artist at the time
Speaker:who had a really thriving business.
Speaker:She still does.
Speaker:And you know, was able to sell retail and wholesale.
Speaker:And that helped me go like, Oh, this small business thing is like doable.
Speaker:Like, and now I understand things like for instance, pricing, like
Speaker:how the heck do you price anything?
Speaker:How do you, you know, find wholesalers?
Speaker:How do you find people to buy?
Speaker:And I think that probably the combination of this natural drive,
Speaker:which I mean, I had a store out of my bedroom when I was eight.
Speaker:Okay.
Speaker:All my summer plans involved around like garage sales and bike washes and
Speaker:carnivals in the neighborhood so that we could, it was just in me, this spirit.
Speaker:and so that's probably what really, drove me to start was just this initiative
Speaker:that was inside me, but then being able to see somebody else demonstrate
Speaker:that you can run a small business was probably what kept me on the path, right?
Speaker:So I transitioned through the years after that, but I think
Speaker:that was sort of the initial drop.
Speaker:Did you come from a family of entrepreneurs?
Speaker:You know, my mom, I have three sisters.
Speaker:There's four of us girls.
Speaker:My mom did run a business at home.
Speaker:I think it was more out of necessity than drive.
Speaker:You know, it was more like, this is the skill I learned.
Speaker:I learned how to type so I can, you know, have this kind of.
Speaker:Business at home.
Speaker:But I think she had a little bit of an independent spirit too.
Speaker:And
Speaker:I do love how this does run in the family.
Speaker:I look back to like my great grandpa who I just heard stories about.
Speaker:He was always kind of like chasing the next idea and buying the next business
Speaker:and moving the family to the next thing.
Speaker:And even though I never met him, I always think, Oh, I get that spirit.
Speaker:Like I have that entrepreneurial spirit in me.
Speaker:Right, so you came out of the womb.
Speaker:Sold!
Speaker:I think so.
Speaker:You know, I wish people would have recognized that in me
Speaker:earlier and poured into me like, Hey, here's where you're gifted.
Speaker:I can see this path being good for you.
Speaker:A lot of times we just have to figure that out for ourselves.
Speaker:I think that's normal.
Speaker:But now I can look at like my children and be like, what do you have in you?
Speaker:Let's help you pull it out so that you can get to live a life of joy along
Speaker:the journey you were created to be on.
Speaker:So
Speaker:that's your superpower.
Speaker:That's yeah.
Speaker:Also helping a lot of people at a young age, love seeing
Speaker:people's gifts and bringing, like elevating those gifts for them.
Speaker:Shannon, when you started that first business doing the jewelry and handbags,
Speaker:I think you said the first time you had to like set a price and tell people what
Speaker:the price was, what was that like for you?
Speaker:Yeah, I mean, I've been thinking about like how so many things
Speaker:go into setting a price, right?
Speaker:And especially when you first start and especially when something
Speaker:is personal to you, a lot of it is just, I want to do this.
Speaker:What will people pay for it?
Speaker:If they won't pay this for it, then I'm being rejected in some way, shape or form.
Speaker:Right.
Speaker:I think That, that can be in the early cycle and also that can
Speaker:like recycle through the journey of your business because it's
Speaker:attached to our confidence a lot.
Speaker:I will say, I think that going into that first business, because I actually set
Speaker:my handbag prices fairly High end at the time, and I did take into account
Speaker:definitely the products and the materials.
Speaker:And I was thinking about the marketplace, like where do
Speaker:these fall into the marketplace?
Speaker:I think at that point in time, I wasn't taking into account as much of my time.
Speaker:And that was probably a factor there.
Speaker:But I did, I mean, I look back and I go, well, I had a little bit of guts to say
Speaker:that these belonged at this price point.
Speaker:And at that point was able to sell them like on a small level at boutiques
Speaker:and at art fairs and things like that.
Speaker:Custom work for like bridesmaids and stuff.
Speaker:So I had some success at it.
Speaker:I didn't really.
Speaker:and I didn't do that business very long because we ended up moving and I had
Speaker:gotten married young, we were moving and we were having a baby And so it
Speaker:just kind of naturally dropped off.
Speaker:but it's funny because then I look at other businesses or other focuses
Speaker:down the line and think sometimes you go backwards in your pricing.
Speaker:Sometimes you go backwards in your confidence and.
Speaker:Yeah, there's just a lot of psychological elements that go along
Speaker:with pricing, which you well know.
Speaker:Yeah, absolutely.
Speaker:There are.
Speaker:So one of the things that we had spoken about is that you've
Speaker:priced lots of different things.
Speaker:So you, you left your jewelry and handbag business.
Speaker:And then where did you go and how did that shift your, your thinking
Speaker:or your approach to pricing?
Speaker:Yeah.
Speaker:So, lo and behold, since I had taken that one class in Paris, studying photography,
Speaker:I had bought a camera at the time.
Speaker:And even during that time I was doing handbags and jewelry.
Speaker:I was doing like a tiny bit of freelance photography kind of for fun, right?
Speaker:Like people knew.
Speaker:You know, that you had a camera and you got referred to some random kids
Speaker:and started experimenting, right?
Speaker:So a few years down the line, you know, my family and I moved from Minneapolis
Speaker:area to St. Louis area in Missouri.
Speaker:My husband had got promoted there.
Speaker:I had a baby there, did all sorts of really cool, creative things, mostly
Speaker:volunteer, back a couple of years later.
Speaker:And ironically into the same house because we had rented it and we had remodeled it.
Speaker:And so we're moving back in and I said, Hey, here I am now with
Speaker:like an almost two year old.
Speaker:What do I want my career path to look like?
Speaker:Like I had this drive still.
Speaker:But I also knew that I loved being a mom.
Speaker:I wanted to find this balance.
Speaker:And so we continued to remodel the house and we put in a photography
Speaker:studio in the basement of that home.
Speaker:And then I went on to run a photography studio for about 10 years at that point.
Speaker:So then it became a big pricing journey.
Speaker:Pricing the
Speaker:house
Speaker:is very interesting because it's both a service and it's product, right?
Speaker:You're selling prints or you're selling digital images.
Speaker:Wow.
Speaker:I mean, we were at the beginning of the digital images versus the print stage
Speaker:and, the mental approach to how a digital image might not be as valuable as a print,
Speaker:but really was more valuable because
Speaker:it was
Speaker:telling your negative to somebody, right?
Speaker:Like all the potential that became a lot of what was being talked about in industry
Speaker:and a lot of what I had to process.
Speaker:So I think that I was lucky to start in that industry when
Speaker:prints were still the standard.
Speaker:Help me place the value on not just the session, but then you
Speaker:choosing these images afterwards.
Speaker:And so there was that, that was helpful going in at the same time.
Speaker:I remember getting like my first, like somebody wrote me a check for
Speaker:101 and 50 cents or something for her, order of her children's pictures.
Speaker:And I thought, Oh my gosh, I'm making it like 100
Speaker:to do what I love to do.
Speaker:Like it's happening.
Speaker:And.
Speaker:Looking back, I very much did not account for time.
Speaker:I think that's probably been one of my default
Speaker:trends.
Speaker:I can definitely price for product.
Speaker:I can maybe even price for value and marketplace, but your time, because
Speaker:you just want to do it and you underestimate how long it takes and,
Speaker:you know, that can be okay, but if you're trying to make a living over
Speaker:the course of a year and you only have so much hours to put into something,
Speaker:you
Speaker:have to factor in that element and then you have to factor in like.
Speaker:Am I worthy as an artist, right?
Speaker:This is the emotional end of it, to ask people to pay this much.
Speaker:Do I have enough experience?
Speaker:And so definitely I started underpricing in the photography industry.
Speaker:Definitely priced, repriced probably every other year or
Speaker:more, like rethinking the pricing.
Speaker:I mean, it's like constantly very complex because you're pricing this service.
Speaker:And then you're pricing these.
Speaker:Do you buy these things separately?
Speaker:Do you have a package?
Speaker:Do you put it all in one big package?
Speaker:I mean, there was so many decisions, complex decisions around photography
Speaker:as an industry period, but it did force me to really think about how I do this.
Speaker:And by the end really massively changed in my money mindset.
Speaker:And even that's where like, now that I'm a brand strategist and a business mentor
Speaker:for women, I can say, I also understand how I started out like I want to be for
Speaker:everybody and got to the point where like, no, I need to have a singular brand
Speaker:that draws exactly the right client I want who's willing to pay what I need
Speaker:to get paid to just stay in business.
Speaker:Right.
Speaker:And so all of that really goes hand in hand.
Speaker:Yeah.
Speaker:Yeah.
Speaker:I've worked with quite a few photographers and, I've seen one, the struggle that
Speaker:they have with pricing, also the criticism that they get sometimes from people about
Speaker:their pricing, which I find incredibly,
Speaker:hmm, what's the right adjective?
Speaker:, Mean at times.
Speaker:Yeah,, the, the feedback that people get about their pricing structure,
Speaker:especially when they try to adjust it, so that it's something that
Speaker:they can make a business from.
Speaker:I had a guest on the show a few years back, a Maria Ramanatha.
Speaker:She's also in photography, or had part of her business was photography related.
Speaker:She shared with us a story how it took her like three times to at least three
Speaker:times of changing her prices until she was actually attracting the kind of customers
Speaker:that she wanted to be working with.
Speaker:And that, you know, being underpriced brought her customers
Speaker:who didn't value her service, didn't value what she was offering.
Speaker:And, and so she ended up, you know, with these low prices, she
Speaker:just attracted the wrong people.
Speaker:I think that's a really important, point.
Speaker:for people to, to reflect upon.
Speaker:Yeah.
Speaker:I mean, really as a brand strategist, I can say that your pricing is part of your
Speaker:brand because it is one of the elements you are giving off that's going to
Speaker:attract or deter the right person for you.
Speaker:So really knowing who you want to work with and where you want to fit
Speaker:in the marketplace is super important for both your brand and your pricing.
Speaker:I do want to just speak to that thing about like people's
Speaker:perceptions of pricing though.
Speaker:And I. I think you're right in the photography industry.
Speaker:It's been extra hard to like prove that this is how much something is worth
Speaker:because we live in a digital era, wherever we can take a snapshot on their camera.
Speaker:And I think that initially it can feel very like hurtful as
Speaker:you try to raise your prices.
Speaker:And as you try to, see the value people have of something, and that's
Speaker:probably true in other industries.
Speaker:So what I want to share is that I think as a business owner, we can make the
Speaker:mental shift to say, it's not their fault for being naive about pricing.
Speaker:It's my fault.
Speaker:Now, I don't want to induce guilt here, right?
Speaker:But my responsibility to
Speaker:educate why this has value and educating why something has value
Speaker:is a really big part of marketing.
Speaker:And so we can see that's just a regular piece of the marketing puzzle that I no
Speaker:longer have to feel bad when somebody.
Speaker:Perceive something as low value than it is.
Speaker:I have to say, Oh, that is an eye opening conversation to help
Speaker:me be a better CEO and marketer.
Speaker:And now I know what to put into my messaging to help people come into
Speaker:this conversation on pricing with the right perception right away.
Speaker:So hopefully that like makes people feel better about it.
Speaker:I know it has for me.
Speaker:It's really important to establish the value.
Speaker:And I go back to this example all the time.
Speaker:It's one of my very favorite examples of, you know, putting
Speaker:that value stake in the ground.
Speaker:It was also a photographer and on his, I don't remember his name.
Speaker:I'm sorry if you overhear this and you know who you are and
Speaker:I don't remember your name,
Speaker:but on his website, on his pricing page, it says, Yep.
Speaker:It's going to cost you at least 2, 000 for me to photograph your wedding.
Speaker:Are you okay with that?
Speaker:And I said, yes.
Speaker:It said, you know, book a call with me.
Speaker:No, here's the link to Craigslist.
Speaker:Which is like a really beautiful way to establish value and help people
Speaker:understand, you know, how at least they perceive value and to steer people
Speaker:who weren't willing or able to pay that, you know, in another direction.
Speaker:So, I think that's a really important aspect.
Speaker:So Shannon, I'd like to shift into the business that you have now and some of
Speaker:the learnings that you've had in pricing, either your own experience or what you've
Speaker:seen with clients and what you do now.
Speaker:Yeah.
Speaker:Well, so now as.
Speaker:I mean, I started, I shifted from my photography studio to a full service
Speaker:marketing firm, which felt very comfortable to me at the time because I
Speaker:was still selling tangible things, right?
Speaker:So I recognized that, you know, while I loved my photography business and my
Speaker:clients, I wasn't using all of me, which is part of what I now like help people do.
Speaker:Right.
Speaker:I was really missing the marketing elements and the brand elements that,
Speaker:and the writing that I was really loving in my photography business, and I'd kind
Speaker:of mastered the photography part and it didn't feel like as much of a challenge.
Speaker:And I thought, I need to just.
Speaker:Go into the full me.
Speaker:And that was
Speaker:of course an identity shift too, not just like a brand shift, right?
Speaker:Like I'm a photographer and now I'm suddenly saying I'm a brand
Speaker:strategist, I'm a marketing strategist.
Speaker:So we won't go into that.
Speaker:But if anybody's in that, know that we feel you because You're giving yourself
Speaker:a promotion or you're a new job and you have to be the one to identify it.
Speaker:So I move in first to this marketing, you know, firm type model where I can
Speaker:say, Hey, we will do this for you and you can pay this much for a package.
Speaker:And by then I was much more adept at like going, okay, I can't do this unless.
Speaker:I guess it's going to be worth my time.
Speaker:There was still definitely some struggle around value.
Speaker:Like am I definitely going to give them, I'm new to this thing, even
Speaker:though I'm experienced and I've been doing stuff like this for years.
Speaker:So there was some struggle in the value and I think then the biggest
Speaker:though, thing I learned about pricing during that stage was, Every
Speaker:project I was doing was individual.
Speaker:So if you need, you know, a website and Facebook ads and a marketing funnel
Speaker:and a logo, and you need, you know, social media graphics and whatnot, I'm
Speaker:starting from scratch with each project.
Speaker:And so, yes, I might be pricing at a level that is You know, reasonable
Speaker:for my business, reasonable for you.
Speaker:But the project management part was tricky because you're changing
Speaker:mental hats every time you're making different contractors for each one.
Speaker:And, and I realized that that didn't feel good and that if I was going to do it
Speaker:that way, I definitely was going to have to price more to hire a project manager.
Speaker:Right.
Speaker:So then I went kind of from that, that stage, excuse me.
Speaker:into a shift to I'm really seeing women have a lot of success when I
Speaker:just coach them around how to do this.
Speaker:And a lot of these women's struggles isn't that they need
Speaker:a new logo or a new website.
Speaker:It's that they need the confidence to, you know, step into whatever
Speaker:is that next thing for them.
Speaker:Then they need somebody to help them pull out the words to define it.
Speaker:Then they need the online presence to bring that, right.
Speaker:And so to back up and give them this freedom to like
Speaker:strategize who you really are.
Speaker:What you and your company bring to the table and how we need to communicate that.
Speaker:Then I was leaning in towards like coaching and mentoring, and
Speaker:that becomes a whole new pricing issue, because you're straight up
Speaker:pricing for what the transformation you're bringing, not the hours.
Speaker:I'm not right.
Speaker:And so then I really had to establish, Hey, where do I
Speaker:fit into the marketplace here?
Speaker:And again, for people pivoting their business, the confidence
Speaker:again, like, yes, I'm a quick to
Speaker:do
Speaker:this, but I just transitioned again.
Speaker:I feel like a newbie in a marketplace.
Speaker:Even though I have, you know, almost 20 years of experience
Speaker:in the business place, right?
Speaker:So, that all goes into it.
Speaker:But I think for me, where I've gotten to now, like just straight up having been
Speaker:in business for over 15 years, it has to be this balance of First of all, how much
Speaker:money do I just straight up need to make?
Speaker:Right?
Speaker:I'm purpose driven.
Speaker:I want to help people.
Speaker:I want to see everybody get the transformation they want, but I
Speaker:can't just run myself ragged, right?
Speaker:Or I can't not be able to pay my bills.
Speaker:So straight up at the end of the day, how much money do I need to make in a year?
Speaker:How many hours do I actually have to give?
Speaker:To a client, to clients, right.
Speaker:Versus how many hours go to other things in my business, administration,
Speaker:marketing, behind the scenes stuff, right.
Speaker:How many hours do I want to work a week?
Speaker:Let's just take my actual whole life picture into consideration here and then
Speaker:go, okay, here's how much time I have to put into actual clients and here's
Speaker:how much money I need to make, like minimum to like my high goal, right.
Speaker:And then work backwards and say, what is the absolute minimum I can price a client
Speaker:at to hit that, and then taking that number and going, here's the reality check
Speaker:and then factoring in the other elements.
Speaker:Like, okay, where do I want to be in the marketplace?
Speaker:How do I want to be perceived?
Speaker:What does my client have to pay?
Speaker:Because somebody who is, for instance, starting a business is in a
Speaker:different spot to invest in somebody.
Speaker:You know, transitioning a business, even if the value you bring us the same.
Speaker:And so it's okay if you price it.
Speaker:Probably different in those two phases, right?
Speaker:The value.
Speaker:Yeah.
Speaker:And that's totally okay.
Speaker:Right.
Speaker:You just have to decide who you really want to serve and then go, if this
Speaker:is the person I really want to work with, where does this element of what
Speaker:I need to get paid meet what, where they are expecting to pay something in
Speaker:the marketplace, that's fair for them.
Speaker:Right.
Speaker:And then kind of maybe accounting for all the little extras that might kick
Speaker:in above and beyond them too, right?
Speaker:So a little, little wiggle room because it's very easy for us
Speaker:to just inch our way up and not allow for the wiggle room as well.
Speaker:And so I think some combination of that is now where I approach pricing.
Speaker:And it's much more based on the transformation that I'm
Speaker:going to get from somebody.
Speaker:and the investment it is for them than it is on hours or expectations or things like
Speaker:that.
Speaker:I'm so glad you brought up the wiggle room.
Speaker:And I mean, there's a lot of different contexts in which, which we can
Speaker:talk about this, but actually having this conversation earlier today with
Speaker:someone, you know, if you, let's say you, you offer, 500 whatever
Speaker:us dollars, Franks, whatever, you know, doesn't matter for 500, right?
Speaker:But then you decide you want to offer an early bird special, so then you're selling
Speaker:it less than 500 and then, you know, some coaching organization approaches
Speaker:you and say, Hey, we'd love to have this course on offer for our people.
Speaker:Are you willing to offer it, you know for us at 30 percent discount because we can
Speaker:bring you so many and then all of a sudden You know, it starts whittling away and
Speaker:then if you take payments by Stripe, they take 3 percent And if you have the course
Speaker:on a course platform, they may take, you know, 10 or 20 percent The wiggle room,
Speaker:you know, depending on the strategy that you have and how you're, you know, Putting
Speaker:that course or that program or whatever it is out there is a really important
Speaker:part of where you set your prices.
Speaker:Yes, I really, it's really good I think for you to emphasize
Speaker:that and I'm sure you have more experience than anybody with that.
Speaker:But it is definitely something we as entrepreneurs tend to not include
Speaker:that margin, the margin in our time and the margin in our finances.
Speaker:And I think that's where it gets most of us in trouble because we just
Speaker:genuinely want to do what we love to do.
Speaker:And so we just try to make it as accessible as possible.
Speaker:And that we forget along the way that we are just wearing ourselves out by not
Speaker:having this financial or time wiggle room.
Speaker:And, and sometimes you just need somebody to speak that into you too, right?
Speaker:Like, Hey, you have all this expertise.
Speaker:You're allowed to have a little break in your day.
Speaker:You're allowed to have a little vacation.
Speaker:You're, you know, like we're all
Speaker:allowed, you know, actually I would even all say more than allowed, but it's.
Speaker:It's, it's right to have financial independence and security, right?
Speaker:Wise.
Speaker:It's wise to
Speaker:have this wiggle room.
Speaker:It's wise as well.
Speaker:Yes,
Speaker:certainly.
Speaker:But it, you know, it's really, in my opinion, it's something
Speaker:everybody in, you know, in a sense should be entitled to almost.
Speaker:You know, because it's so important to just everything
Speaker:else in, in your, in your life.
Speaker:Okay, Shannon.
Speaker:So.
Speaker:I have two more questions before we start wrapping it up.
Speaker:So as you've gone through and you've, you know, had all these sort of evolutions
Speaker:in your own pricing journey, what's been the difficult, most difficult thing
Speaker:that you faced in terms of pricing?
Speaker:I think probably when we go back to that part where people undervalue you.
Speaker:Before you get to the mindset and the confidence level that you
Speaker:don't have to take that personally.
Speaker:I think
Speaker:when you're in that stage, that hits you very hard.
Speaker:Right.
Speaker:I will share one quick story.
Speaker:It's kind of later on in my photography business and I'm sitting across from
Speaker:the desk with a woman who's going to buy pictures for her children.
Speaker:And you know, she's always talking about the budget at this point.
Speaker:I mean, my photography was, you know, more towards the higher end part, not.
Speaker:Maybe all the way, but I felt good about the prices, right?
Speaker:And, but you're still feeling bad because the person's talking about, you know,
Speaker:maybe they can't afford this and whatever.
Speaker:And she'd been a client for a few years, so I knew her pretty well.
Speaker:And, you know, I, I'm, I can't remember if I was either like about
Speaker:to offer her an extra discount or we were kind of narrowing down what
Speaker:she was going to buy to eliminate.
Speaker:And then she starts talking about this designer handbag she just bought.
Speaker:And it was this eye opening moment.
Speaker:And I didn't feel bad and I didn't feel mad.
Speaker:I thought this is my fault because she values that designer handbag more than
Speaker:she values these pictures of her family.
Speaker:And that means I have not done a good enough job marketing the value of this.
Speaker:So I think in one hand, it was, it was good that I was a very healthy
Speaker:mindset place to recognize that.
Speaker:But definitely, you know, when we as solopreneurs, many of us, some
Speaker:of us have small teams, right?
Speaker:I felt like.
Speaker:It's personal.
Speaker:What you do is personal.
Speaker:And to have to face what other people think about that, it can be hard.
Speaker:So learning to let go of that partially, really stand firm and
Speaker:know that in order for me to have the joy fueled, purpose driven business
Speaker:I want to have, I need to work with people who value me and appreciate me.
Speaker:And so do my clients, right?
Speaker:But I think that since it is personal, that can be one of the biggest struggles.
Speaker:I love that story.
Speaker:So my story, similar story, was a vacation to Jamaica.
Speaker:That was, that was what came up during the conversation.
Speaker:You may be like, wait a minute here.
Speaker:Yes, you have enough money for that vacation to Jamaica.
Speaker:I think you can handle this.
Speaker:But it's what people value, right?
Speaker:And it is such a good reminder.
Speaker:I mean, I think people need to hear this.
Speaker:People want to buy things.
Speaker:People want to buy things they care about.
Speaker:People want to spend money.
Speaker:You just have to give them a reason for your thing to be the thing they want to
Speaker:spend the money on or save the money for.
Speaker:You need to entice them and give them the time to build up because people
Speaker:don't make a sale right away either.
Speaker:They think about things, they dream about it, they reflect on it, and there's also
Speaker:this sense too that if I get rejected right away, Oh no, my prices are too high.
Speaker:Well, maybe that person just needs the time.
Speaker:To like save up or dream big about it or recognize that it's now like the priority.
Speaker:So I think it's good for people to hear that.
Speaker:Yeah.
Speaker:Yeah.
Speaker:I think that's really important.
Speaker:Thank you so much for sharing that.
Speaker:So now we just talked about, you know, what was a big challenge.
Speaker:I'm curious, what's something that you felt that was a real success when
Speaker:it came to pricing in your business?
Speaker:I think that anytime you price, whatever you have at your highest price that you
Speaker:feel like is Too good to be true, and then somebody spends the money on it.
Speaker:And then you go, oh, I guess I could go up again from here.
Speaker:And you start to recognize that.
Speaker:There aren't necessarily limits.
Speaker:And I don't mean that meaning like we're always just trying to like raise
Speaker:our prices and price the highest thing ever, but I think there's freedom
Speaker:and recognizing that what I cannot imagine right now that somebody might
Speaker:pay for a product or service, right.
Speaker:Is something that I, my business could get to.
Speaker:And you know, our imaginations can only imagine what they know is the truth.
Speaker:Right.
Speaker:And so to, to have that eye opening ability to go, Hey, I'm going to I
Speaker:mean, I say I've priced things from, from 15 to like 9, 000 packages.
Speaker:Right.
Speaker:I've sold all those levels.
Speaker:So, to go, Hey, somebody just paid me this much for something.
Speaker:Oh, I guess maybe in the future.
Speaker:Right.
Speaker:It's something that has, and it's just really freeing.
Speaker:And it doesn't like necessarily fix all your pricing and money problems
Speaker:right away, but it does make you feel like you have some good mindset around
Speaker:the area of pricing and opportunity and kind of like being a really
Speaker:stepping into the visionary CEO role.
Speaker:Where does my business fit in the market?
Speaker:And what can I do for the world?
Speaker:Right.
Speaker:Oh, I love that.
Speaker:I love that.
Speaker:It brought to mind for me.
Speaker:Oh, what was her name?
Speaker:Marie Kondo and the Spark of Joy.
Speaker:Oh, we have Spark of Joy moments for my clients.
Speaker:That's a big deal.
Speaker:Because I mean, business building is a journey.
Speaker:You aren't just trying to hit a goal in the end.
Speaker:I mean, yes, you think you are, but you're living your life along the way.
Speaker:You need to celebrate and have Spark of Joy moments.
Speaker:Enjoy the journey.
Speaker:Like as you get to whatever it is that next goal, you're gonna
Speaker:have another goal after that.
Speaker:Yeah.
Speaker:I think we found the hashtag for this episode.
Speaker:Okay.
Speaker:So why don't we start wrapping it up?
Speaker:I'm curious if there's one thing that you want people to remember
Speaker:from this episode or that you think it's important for them to remember.
Speaker:What would that be?
Speaker:Yeah.
Speaker:I mean, it's really easy to say, don't worry about what people think,
Speaker:because the truth is we all worry about people think whether that's
Speaker:our brand or our pricing or whatever.
Speaker:But I think to start your pricing and start your brand around,
Speaker:what really do I want to create?
Speaker:If I could have the perfect business that makes me feel the most freedom and joy,
Speaker:and like I'm bringing the most purpose and impact to the world through what I
Speaker:do, what would that look like on paper?
Speaker:Like, what would it be priced at?
Speaker:What would you do?
Speaker:What would you not do?
Speaker:Right?
Speaker:What freedoms would you have?
Speaker:What would you let go of?
Speaker:Give yourself permission to just go all out.
Speaker:Nobody has to see it.
Speaker:I think we sometimes won't even go there because we're so busy worrying about what
Speaker:people will think along with what we want.
Speaker:And we're always kind of trying to cut the difference.
Speaker:And it doesn't mean you don't think about the market or the people you do, but give
Speaker:yourself permission to start with what would I love this to look like for me.
Speaker:What would I love to do?
Speaker:What would I like my brand elements to be?
Speaker:How much do I want to show up online?
Speaker:Where do I want to fit in the marketplace?
Speaker:All those things.
Speaker:And
Speaker:then secondarily fit the other things in.
Speaker:Just give yourself permission to dream really big.
Speaker:No, I love that.
Speaker:Thank you so much.
Speaker:Okay.
Speaker:Two more questions.
Speaker:So is there a book, a tool, a podcast, something that you're
Speaker:really excited about right now that you'd like to share with us?
Speaker:And if so, what?
Speaker:Oh yeah.
Speaker:Okay.
Speaker:So my favorite thing right now, I was thinking about, right now versus
Speaker:like in the past, I read a lot.
Speaker:I love to learn.
Speaker:But right now I have been reading, 10X is easier than 2X is the name of the book.
Speaker:It's kind of a combination of the guy who's run the business strategic
Speaker:coach for like 30 or 40 years.
Speaker:So he's a little bit older.
Speaker:And then this other guy who has been a writer and like a psychology
Speaker:and human expert has come in and kind of co written them with him.
Speaker:but this concept that.
Speaker:It's kind of that margin part.
Speaker:Sometimes we think that just a little bit more up is going to be easier.
Speaker:It's easier to get double my business.
Speaker:It's easier to just get a little edge up when sometimes actually like going
Speaker:way beyond what you think is easier, because in the process you create so much
Speaker:more time, freedom, creative freedom.
Speaker:The ability to.
Speaker:to think and be visionary, to solve more problems well.
Speaker:and I just, it's a very freeing book.
Speaker:So I would encourage people to find that one.
Speaker:Super.
Speaker:So we'll put a link to that in the show notes as well for everyone.
Speaker:Thank you.
Speaker:My last question is if people would like to find out more about you,
Speaker:connect with you or work with you, where should they reach out to do that?
Speaker:Yeah.
Speaker:So, I'm just basically everywhere at Feather Blue Studios, but you can find
Speaker:me on Instagram at Feather Blue Studios.
Speaker:Same thing for my website and Facebook.
Speaker:So, yeah.
Speaker:Great.
Speaker:So we'll put all those links in the show notes as well.
Speaker:So people can get to you easily or find you connect with you easily.
Speaker:Let's put it that way.
Speaker:Shannon, thank you so much for coming on the show today.
Speaker:It's been such an inspiring conversation.
Speaker:Thank you so much.
Speaker:It's always a pleasure to talk to you.
Speaker:And just what you do is important to the world.
Speaker:You bring so much value, Janene.
Speaker:So thank you for having me.
Speaker:Thank you for listening to this episode of Live with The Pricing Lady, the podcast.
Speaker:If you enjoyed the episode, rate, review, and subscribe to it, then share
Speaker:it with your friends and colleagues.
Speaker:I love hearing back from you listeners.
Speaker:If you've got comments, questions, or topic ideas, go on over to thepricinglady.
Speaker:com and contact me there.
Speaker:Not sure where to start when it comes to improving pricing and profits?
Speaker:At ThePricingLady.
Speaker:com you can download a copy of my Self Assessment Pricing Scorecard.
Speaker:Find out where it's going well and where you can begin improving.
Speaker:Or just simply book a discovery call with me.
Speaker:There we can discuss what's up with pricing in your business and
Speaker:how I might be able to help you.
Speaker:Thanks once again for joining.
Speaker:Remember, pricing can hurt or help your business.
Speaker:Let's make sure it's helping you reach your dreams.
Speaker:See you next time and as always, enjoy pricing.

