She said it with the absolute best intentions.
I knew where she was coming from when my business friend reached across the table, and did that “I’m about to say something important” head tilt:
“Sarah, I’m concerned that you’re under-pricing your stuff. When you price things that low, people don’t take you seriously. They associate low prices with low quality.
And if you’re starting at $25, how far can you ever really raise your prices? You’re going to be trapped selling things for $37 for the rest of your life.”
I get it. Really! With zero snark, I appreciate her concern. Money blocks are real, women chronically undercharge, and when people pay more, they’re more committed. (And don’t worry, I also sell $200 products and my hourly rate for coaching and consulting is high + industry-and-experience appropriate.)
And it does seem a little weird that a live, five-week group program would cost less than a Target swimsuit.
But here’s the thing: if someone has five-figure debt, they probably can’t (or shouldn’t) buy a $2,000 online program.
They probably can’t (or shouldn’t) be spending thousands of dollars on things that aren’t 100% necessary.
Most programs and courses about money aren’t really priced for … people who are struggling with money.
So why is Bank Boost $25?
Even though it comes with an ebook, live q & a sessions, and a private Facebook group?
Even though it helped one of my students pay off a $10,760 credit card balance?
1. I’ll do pretty much the same amount of work no matter how many people enroll
I wrote the book and weekly emails. I’ll check our Facebook group most days. I’ll host three live q & a sessions. The amount of work I’d be doing for 50 people isn’t that different than the amount of work I’d be doing for 500 people.
But if I can help more people for the same amount of work, why wouldn’t I want to help more people? I set my prices based on accessibility, not quality. I create things that are highly accessible AND high quality. Click To Tweet
2. Everybody deserves help, regardless of where they are financially
I’ve been in a place where $25 is a lot of money. I’ve spent ten minutes hemming and hawing between the $11 lipstick I really want and the gritty, chalky $3 lipstick.
And I was just as worthy of help and support then as I am now.
Of course, there are plenty of free resources for people to get their financial lives together. We can all use the public library and Google.
But I wanted to create a real-time, accountability + support system for people struggling with money. Now matter how much they have now.
Enrollment for Bank Boost ends tonight at 10 pm. I’d love it if you joined us! I’m not sure when I’ll run it again and next time it’ll probably be, like, $35!