In this blog post, you will discover the 3 biggest mistakes I see impact-driven entrepreneurs do, when it comes to set up their price.
First off, let’s just make sure we are on the same page here : what I mean by “impact-driven entrepreneur” is, people who become entrepreneurs in order to have a positive impact in the world, make a difference that matters, contribute to Sustainable Development… in a financially durable way (by choosing to NOT rely on donations or grants, like NGOs do, and developing an actual product or service instead).
I love the idea of using business to make the world a better place. That’s why I dedicated my own career to it ;)
I strongly believe impact & income can work hand in hand…
… and yet, this is where most socially-minded entrepreneurs struggle !
I started this consulting agency for social entrepreneurs back in 2014, and have supported close to a hundred different Global Citizen entrepreneurs to find their true purpose, launch their sustainable business, and reach financial sustainability.
Recently, I ran a survey to understand better what my community struggle with in particular when it comes to pricing (a question my private client ask me ALL THE TIME, and something I love helping with !).
Interestingly, here was the TOP 3 struggles I identifies through that survey (based on a 120+ answers from 15+ countries) :
- The fear of being “too expensive” (76%)
- Feeling uncomfortable to talk about pricing with prospective clients (56%)
- The fear of not being able to make a decent living, because of the industry being “hard” (46,5%)
Interestingly, only 29% of respondents has experienced actual clients finding their price too expensive… which means that the fear far exceeds the reality.
Quite logically, the #1 topic survey respondents said they wanted to learn about was :
“How to price my product/services in a FAIR way (both for my beneficiaries and my business’s sustainability)” (73,2%)
I am creating a video series to help impact-driven entrepreneurs set up the right price for their business to be sustainable… but also feel more comfortable about those prices (you can learn more about that here).
But first, I wanted to share the most common mistakes (I see aaaaaalllll the time in my strategic consulting practice) you can avoid if you want to make BOTH a positive impact AND create enough revenues for that impact to be sustainable over time !
Solène is the Chief Empowerment Officer of Creators for Good.
She developed a methodology that allows Global Citizen to start and grow their own impactful businesses from anywhere in the world – and with no need for investors or government support.
