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 $57?
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 $57 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 opens on May 6th. Last time I ran it, it sold out for in four days – so you might want to get on the wait list!