How not to take it personally if a client asks for a discount
Well, I learned my lesson today.
I was at The Business Show UK, the largest business show in Europe with over 1500 businesses and their booths welcoming you into the massive Excel London, which hosts 17 simultaneous talks from 11 am to 5pm across 2days.
It was an awesome experience to talk to people from different industries and also to have a chance to talk about my own business to them as well.
I attended a talk by a well-known business coach and after the talk I went up to that person and introduced myself. There were discounted offers on one to one mentoring/coaching but still £999 is more than I can afford at this point. After I introduced myself, I felt like maybe it's rude to not show interest in the coaching even though if I'm completely honest, I wasn't looking to be coached right now since thankfully I have wonderful mentors in my life that support me generously with their time and knowledge.
Knowing I can't afford even the discounted price at the moment, I said, "I'm actually still a student. Do you offer student discounts?" And the answer I received was very reasonable, logical and thoughtful. "I don't do discounts as I value your time that you'll invest in growing your business through my help and there's value in that. What I sometimes do is I'll have them pay what they can now and when they're ready and have the funds they can pay the rest of the amount." (Paraphrased)
I was afraid I disrespected that person by asking for a discount and felt bad about that, but then the answer made so much sense that I feel grateful for the response I received. Because, yes! Of course I respect that person's experience, expertise, valuable advice and guidance that they'll provide. There's no doubt about that. The response gave options so that any person with any budget has a chance to receive coaching.
So, the lesson I learned today is...
Set your price that reflects the value you offer through your services.
Don't be afraid to defend your price. There's a reason why you set your price for that amount.
No one likes to be asked for a discount. But next time a client asks for a discount, don't take it personally, because it doesn't mean they don't think your services are worth that price. Like my experience today, the reason I asked for a discount wasn't because I thought the coaching wasn't worth that price. I asked for a discount because the price was more than what I can afford at this moment.
So, don't correlate having been asked for a discount with the value of your service because it has nothing to do with that. Think about it... if they thought your service wasn't worth it, they wouldn't ask for a discount. They wouldn't ask for your service. Period.
Photo by author.