Transcript
Let's talk about a common question that I get, which is, George, I would like to price my services differently for people who would live in different countries Because I live in it for example, I live in the United States or I live in the UK.
And what about people in South Africa?
What about people in India?
What about people in, even Canada or Australia?
Right?
They have different currency.
And listen.
You could do whatever you wanna do, but let me talk to you from 15 years of full time business experience with pricing and with clients from all over the world and coaching clients who have clients from all over the world.
Let me give you if I can help you here.
And And if you don't agree with me, just skip on to the next lesson where we have templates where you can actually do your pricing, and and we don't have to be so political here.
But what I can see is listen.
People tie themselves into service providers who have big hearts like you and me, tie ourselves into knots by going, no.
No.
No.
For South Africa, I have priced this way because listen, I I I know that economy.
Oh, for Canada, it's different from the US because their currency is like this.
Even from the US and Canada, we got a price differently.
Good luck.
Really, I wish you well because you're going to tie yourselves in knots over the years.
I've seen it with my own clients so many times.
They they they try to be so compassionate and go, oh, well, from this person.
And then and then, of course, a UK person comes along and go, I I lived in South Africa before.
I have most of my family there, and I still need to support them.
Why can't you give me South Africa pricing?
Well well, listen.
I'm not living large in in the UK here.
Right?
Who are who are you to say that's just someone from the from the UK should be charged more than someone from, you know, India or someone from Canada.
Someone from India could be who knows?
They could have really they could be really wealthy.
Right?
And someone in UK could be really struggling.
Who are you to are you gonna look at their yeah.
Some people do this.
Some people look at their okay.
Send me your bank statements.
Really?
Do do you really wanna go there and go send me send me all of your financial statements?
Because your bank might have very little money, but maybe you have your trust fund, which comes in every month.
Send send that to me too.
How much do you want do you want you wanna get into realistically compassionate pricing?
Because you're going to have to look at all these statements.
And you're gonna have to look at well, I know I have a trust fund, but I really feel poor.
And and and it doesn't feel just for me that you're charging me this price.
Let's let's go there.
Right?
So I like I said, 15 years of coaching people on this stuff, I'm like, wow.
No wonder you're not making any money because you're tying yourself into knots unnecessarily.
And 15 years of charging the same price to somebody in India, somebody in think I don't have anyone in Bangladesh.
But someone actually, I think I have one before.
Someone in India, someone in UK, someone in South Africa, someone in Canada, someone in the US, same price for all my services.
My goodness, I will tell you it is life giving.
It's like giving to my business, but it also is very simple for the person to go, well, that's his price.
Currency doesn't matter, please.
Okay.
Let me let me can I can I just do a just a just a one minute rant here?
You're misunderstanding math.
Currency doesn't matter.
Go no, George.
You you charge a 100 you charge 250 an hour in the US.
You can't charge me you could charge me 250 Canadian dollars, but not US dollars because 250 Canadian is different from 2 no.
That's madness.
What what are you talking about?
I buy bread in US dollars.
I don't buy bread in Canadian dollars.
Are we talking about my expenses or your expenses here?
Do do you understand?
Like, that's you're misunderstanding math.
I can't well, I live in India.
You got charged 250 Indian group group I don't know what the Indian dollar.
Sorry.
Indian money is.
Well, I I can't buy bread in Indian prices.
I buy bread in San Fran when I lived in San Francisco.
Now I buy bread in Mexican prices.
So I start to I start to, I don't actually charge less now, but I but I take fewer clients so I can spend more time with my programs and improving them.
So that's how I'm adjusting my prices now that my cost of living literally is lower now here in Mexico.
But I'm like, okay.
I'm just gonna spend more time experimenting with offers that are probably not gonna work.
So but I think are important.
I'm gonna sell you what I think you need now, not what I not what you want.
And I'll I'll have fewer people.
True.
Just like just like actually, funny thing.
As I'm recording it, this course you know, I've I've been in Mexico now for a year.
I'm selling this course knowing that it's not gonna sell as well because it's what you need, but not what you want.
But, anyway, so that's an example of how I'm experimenting.
But please please please, if I could if I could if I could be of a positive influence to you, let me just encourage you to charge the same price for everybody.
But, George, what about India?
What about South Africa?
What don't worry.
We're gonna have we're gonna talk about that coming up with the concentric circles model.
You can help everybody, just not at the same service level.
Do you understand?
No.
The other the other opt the other option for you, this is a and this is a this is one that I do wish more of you would consider.
You could move to a cheaper economy.
Right?
I mean, that that is that is a choice you can make.
It's it's gonna take a year to declutter and, you know, say goodbye to your friends and family.
But you could move to a cheaper economy and therefore be able to charge India prices, South Africa prices, Bangladeshi prices, and Mexican prices if you want to do that.
Therefore, you'd be like, you'd be flushed with clients.
You'd be like, oh my god.
I can get you at you used to charge you used to charge you 50 an hour.
Now you can you're able to charge a 125 an hour because of your where you're living, you're gonna be flushed with clients.
You'll be, like, fully booked for for months.
Right?
So that's a that's an option.
So instead of charging people in different countries enterprises, you should move to a cheaper economy and be able to charge whatever low price you want.
So I hope this is helpful.
This is real talk, and I look forward to seeing your complaints below.
Thanks.
Price your thing differently depending on where they live? (bad idea)
Updated Aug 14, 2024
Some of us serve clients who live in different economies.
For example, you might live in the USA but have clients in Canada, Australia, UK, India.
My advice is to keep the same price for everyone.
1. It's simpler. (You won't ever have to justify your different pricing to any clients nor feel guilty about it.)
2. It's more sustainable for your business. (Spend way less time figuring out different pricing and what it means for paying your bills.)
It doesn't make sense to me to adjust your price downward for those in lower-income economies or because of "currency differences" because you don't live there.
Your own expenses are still tethered to your own economy. Beware of practicing a martyr complex.
You must price your offers based on what it takes you to live well, so that you never become resentful of the energy that your clients require of you.
Also, don't price your thing upwards for people who live in a higher-economy region. You don't really know their financial situation.
(This is a preview lesson. If you cannot access the comments below or have the ability to comment, it means you're currently logged out of the course.)
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