What do your rates say about you?

I always tell my audiences that their rates say things about them. Many people hope their rate says they are a “good deal”. But is this really what your rate says? Is it making you look second-rate? Remember that pricing is about perceived value. I thought about this when a friend recently told me about her quest to find a good therapist.

My friend decided she wanted to do some therapy on a particular issue, and set about finding a good therapist. She was committed to do the work, and really wanted a good therapist who specialized in a particular area. After talking with about four therapists over a week, she grew frustrated finding the right one. Rate-wise, she discovered that they charged in the $115 to $125 range. She heard about a potential therapist from her doctor, and called her. This therapist seemed like a great counselor, and my friend began to wonder if this was the woman. When my friend asked, “What are your rates?” The therapist paused for a while, and then said “$90 an hour. And of course I have a sliding scale.” She offered hurriedly. My friend thanked her and hung up. She didn’t pick the therapist. I asked her why. She said it seemed like the therapist was a newer therapist, or wasn’t confident in her skills, or had few clients and was trying to attract new ones. None of which appealed to her. So what about you? What do your rates say?

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