by Tanya Ganian
Tuesday, May 14, 2019
(TRANSCRIBED FROM AUDIO)
Let’s talk about three things that you’re doing to undercut your online business. So I want to be totally transparent here – I do all of this and you would think I would have learned by now but it’s been 20 years that I’m in the business and I catch myself every single time.
Undervaluing Your Knowledge
So there’s such a thing called Imposter Syndrome where you don’t think that you are qualified to talk about topics that you are actually qualified to talk about and you assume that others are the real experts, not you. We tend to put a lot of value in what other people are doing and compare ourselves to them and, and we kind of never make the cut. What of the reasons is because we’re not there for what I call the show.
Let’s take Tony Robbins for example. If you get to where Tony Robbins is, you have nothing to worry about or do you? We’re not there for the show. I mean what’s happening behind the curtain at Tony Robbins’ house? What happens before he comes out on stage?
I would assume he’s pretty secure. I don’t even doubt he knows what he’s talking about. But does he feel secure? I’m not there for the show before the big event.
But we are there for our own show – I’m not good enough. I’m not sure if I should be talking about this. I mean, who am I? Look at the way she’s doing it. She’s been doing it for 10 years. She looks so natural. I keep stuttering and it goes on and on and on and on.
And I’m not there for your show. So if you’re selling something, especially if you’re selling your knowledge, I am already believing you are the expert.
There is no reason for me to think that you are talking about something that you know nothing about. So I’m assuming you already know what you’re talking about. Whereas you’re coming from the other end, which is the impostor syndrome, that you are not qualified to talk about what you actually are probably very qualified to talk about.
Underestimate Our Audience
The second thing that we do that will undercut our business is underestimating our audience. Not Everybody is born with the knowledge that you’ve accumulated in your lifetime. There are brilliant people out there. It doesn’t mean they know what you know. It doesn’t mean that they’ve been able to learn what you’ve learned through your mistakes and through your struggles. It’s very much tied into underestimating our knowledge and what we have to offer in that impostor syndrome, underestimating our audience and what they need to hear from us can become a huge deterrent in the amount of information and the type of information that we release to our followers, to our potential clients.
Underpricing Your Product
Which leads me to the third thing we do to undercut our value, which is underpricing our product. And this is very much tied to underestimating our audience and also undervaluing our knowledge. When you underestimate your audience, you’ll tend to underprice your product. You will not believe that your audience is willing to pay the price for your services or your product. By underestimating your audience, you start to underprice your projects and it starts to become a reflection of your product or your services. Because psychologically people will assume right off the bat whether it makes sense or not. That’s something that is at a higher price, holds a lot more value, and something that is a lower price is not something that they’re going to benefit much from. So by underpricing your product, you are underestimating that your audience is going to be willing to pay for the information that you have.
Your potential clients are not going to value the information that you’re giving out and your audience will not be convinced of your expertise. It didn’t come to cheaply. Even if it took you a minute to put it together. I am certain it took you 30 years to learn to put it together in a minute. And that has a lot of value.
Change your mantra instead of ruminating on all of that doubt that comes automatically.
Give yourself a pep talk exactly the way you would tear your children exactly the way you would employees, exactly the way you would to any sports team. Whether it’s a Youtube video or it’s a social media post or it’s a podcast like this one or it’s an article that you’re going to write. Take a few minutes, change your mantra, give yourself a pep talk that’s going to work you up into presenting yourself and believing in yourself, the expert that you actually are so that your audience can believe in you as well.
The second thing is do not underprice your product. The price tag really reflects on the value that your audience is going to get. And don’t underestimate your audience. They’re willing to pay for really, really good value. And the ones who aren’t are not the types of clients that you are. It’s going to backfire and you will not be able to sustain a business selling things for dirt cheap.