Unfortunately, there are many gurus in the personal development world who rely upon this adrenaline/endorphin effect in their work. Some of these come from the body of coaches who preach that you should charge ‘what you’re worth’. Like the celebrity mentioned above, such coaches challenge the limiting beliefs of their audience, encouraging them to think big. In this case, the goal is to get clients to dare to dream of monetary figures that ‘take their breath away’. In fact, if it doesn’t take their breath away, they’re told they are still thinking within their limited mind-set. In this way, the client is encouraged to ask the Universe for more and more until it almost feels like too much.
I can understand the intention behind more database getting people past their limiting beliefs; it’s a valid and important aspect of coaching. The trouble is, when we pull numbers out of a hat based on how much adrenaline is pumping through our bodies at the time, there’s no business logic to back it up. I agree that many independent business owners undervalue themselves; but setting financial targets or deciding your prices for your products and services shouldn’t come as a result of heightened emotions, but from a sound and sustainable business model.
Unfortunately, I have found very few people who seem to understand how to do it. That’s why lately I’ve been working with a LOT of my clients on their pricing. And for most of them (or at least, so they tell me), it’s been a very enlightening experience.
