As we get ready to launch our most recent group of personal stylist from our Committed Program off into the world with fresh eyes and newly awakened business savvy, this month we’re focusing on what can be one of the most challenging aspects of being an entrepreneur: pricing your services.
Today we’re sharing two of the most common issues new and established personal stylists encounter when they’re working through their new business model or trying to relaunch their established styling business to make it more profitable.
The first place some personal stylist struggle to confidently create a pricing model falls into the category of limiting beliefs. With or without a formal degree or certification in fashion, all of the women who go through our program are naturally drawn to fashion, are routinely asked to style the people in their lives, and have an innate skill for putting together looks that make other people look and feel fantastic. Because these skills come so naturally to them, many don’t see that being able to style another person (not just being able to put together killer outfits for themselves), is a skill that’s worth paying for. If you’re unable to see that your skill set is unique and doesn’t come naturally to everyone, it can be hard to make the leap from styling as a hobby to styling as a career. Putting a price tag on something that comes naturally to us isn’t always easy, requires some practice, and is often easier to see with a cheerleader, such as a mentor, to remind you.
The second biggest place we see personal stylists struggle when pricing their services is that they aren’t aware what they should charge for their services not just in their geographical region but within their target market. Looking at what other personal stylists charge in your area is useful but only if you share the same market. One way to think of what you charge is that your prices are an initial conversation between you and your potential client.
Before you ever communicate by phone or email, when a client sees your styling services and your prices (or price range) they automatically get a sense if you are a good fit. When you do finally get on the phone or receive an email from a potential client interested in your services, you're less likely to engage in an awkward conversation around what you charge because it’s already out there for all to see. You can then focus on figuring out if you’re a good fit for each other, ensuring they understand your process, and can answer any questions they may have. Not everyone wants the cheapest stylist on the block. Clients looking to make a lasting change want the most qualified personal stylist.
Need help to gaining confidence around your services and pricing?
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