How to stop undercharging with Jasmine Parasram

"Pricing" remains a pervasive challenge in every business, regardless of its nature—be it product-based, service-oriented, freelance, or corporate. Many find themselves grappling with uncertainty, pulling random numbers without a clear strategy. However, embracing a more inquisitive approach and investing in finding optimal solutions can yield greater respect, more opportunities to show your genius side, and increased financial gains. Clients place their trust in us to solve their problems, and it is our responsibility to take that trust seriously and determine the value we offer to provide the right pricing. By taking ownership of our offerings, value, and worth and pricing them right, we will ultimately get better outcomes for our businesses.

In this episode, we are joined by Jasmine Parasram, a pricing queen, to talk all things PRICING to shed some light on the complexities of pricing, particularly when your brand or business is based around you, your skills, or your services. Jasmine is a designer, pricing expert, and Creative Business Kitchen's founder, helping business owners and freelancers confidently sell their worth.Episode Highlights:
[00:01] Episode intro and a bit about our guest today, Jasmine Parasram
[02:36] A bit about Jasmine's background and what she does
[06:15] What makes freelance and services based brands so hard to gross
[09:34] Why most of us are undercharging and how to start charging your worth
[12:17] 3 things to help you get clear on the value you provide to price your offering right
[18:14] Macro and micro experience and the role they play in our relationship with clients 
[23:53] Mind pricing play and how to overcome these mental blocks 
[26:57] How to get out of a cycle of raising and lowering prices to get clients 
[31:13] Commercial Break
[33:44] Pricing differently based on long-term relationship and lifetime value
[38:04] How to monetize time you spend in your business and justify your pricing incrementally 
[42:41] The trap of raising your prices and why it doesn’t work for most business
[46:47] Building relationships and experience with individual clients, not businesses 
[50:06] Market research and how to deal with comparison in pricing 
[54:43] How to reach out to Jasmine and the things she has going on 
[55:27] Ending the showStandout Quotes:
“To get someone who can invest in you, you need to invest in the success of what they are going to have and your thought process in what is going to bring the best results to them.”- Jasmine [12:40]
“It’s hard to charge cheap and then work your way up, and it’s hard to charge expensively and find the right client; everything has a difficulty level, and you choose your hard."- Jasmine [17:12]
“Problem-solving will sell more than skills, sales, and services; if you can solve a problem, that is where your secret sauce can really shine.”- Jasmine [31:00]
“Just charge more is not a strategy; it’s a lack of one; it means that you have no strategy around your pricing; you need to calculate your pricing for yourself, and if it feels high, that is an opportunity for you to earn value.”- Jasmine [40:16]
You need to make your own version because if you make what everyone else is making, you become a choice in the lineup, and they will go for the lowest price; people, when faced with the cheaper options, they are looking for a temporary solution.”- Jasmine [51:22]Stay Connected

Jasmine Parasram

Website: https://creativebusinesskitchen.com

Instagram: https://www.instagram.com/yourpricingqueen/

Pricing calculator: https://creativebusinesskitchen.com/calculate


Emma Edwards

Website: https://thebrokegeneration.com/?v=518f4a738816

LinkedIn: https://instagram.com/the.brokegeneration
Instagram: https://instagram.com/the.brokegeneration

Thanks to our Season Sponsor H&R Block. 

As Australia’s leading tax experts, the team are here to help, offering on-going support for individuals and small businesses, and FREE BAS services for all newcomers. Get more, for sure, with H&R Block. 

Visit hrblock.com.au to book an appointment.

<ul>
<li>
How to stop undercharging with Jasmine Parasram
"Pricing" remains a pervasive challenge in every business, regardless of its nature—be it product-based, service-oriented, freelance, or corporate. Many find themselves grappling with uncertainty, pulling random numbers without a clear strategy. However, embracing a more inquisitive approach and investing in finding optimal solutions can yield greater respect, more opportunities to show your genius side, and increased financial gains. Clients place their trust in us to solve their problems, and it is our responsibility to take that trust seriously and determine the value we offer to provide the right pricing. By taking ownership of our offerings, value, and worth and pricing them right, we will ultimately get better outcomes for our businesses.
In this episode, we are joined by Jasmine Parasram, a pricing queen, to talk all things PRICING to shed some light on the complexities of pricing, particularly when your brand or business is based around you, your skills, or your services. Jasmine is a designer, pricing expert, and Creative Business Kitchen's founder, helping business owners and freelancers confidently sell their worth.
Episode Highlights:
<ul>
<li aria-level="1">[00:01] Episode intro and a bit about our guest today, Jasmine Parasram</li>
<li aria-level="1">[02:36] A bit about Jasmine's background and what she does</li>
<li aria-level="1">[06:15] What makes freelance and services based brands so hard to gross</li>
<li aria-level="1">[09:34] Why most of us are undercharging and how to start charging your worth</li>
<li aria-level="1">[12:17] 3 things to help you get clear on the value you provide to price your offering right</li>
<li aria-level="1">[18:14] Macro and micro experience and the role they play in our relationship with clients </li>
<li aria-level="1">[23:53] Mind pricing play and how to overcome these mental blocks </li>
<li aria-level="1">[26:57] How to get out of a cycle of raising and lowering prices to get clients </li>
<li aria-level="1">[31:13] Commercial Break</li>
<li aria-level="1">[33:44] Pricing differently based on long-term relationship and lifetime value</li>
<li aria-level="1">[38:04] How to monetize time you spend in your business and justify your pricing incrementally </li>
<li aria-level="1">[42:41] The trap of raising your prices and why it doesn’t work for most business</li>
<li aria-level="1">[46:47] Building relationships and experience with individual clients, not businesses </li>
<li aria-level="1">[50:06] Market research and how to deal with comparison in pricing </li>
<li aria-level="1">[54:43] How to reach out to Jasmine and the things she has going on </li>
<li aria-level="1">[55:27] Ending the show</li>
</ul>
Standout Quotes:
<ul>
<li aria-level="1">“To get someone who can invest in you, you need to invest in the success of what they are going to have and your thought process in what is going to bring the best results to them.”- Jasmine [12:40]</li>
<li aria-level="1">“It’s hard to charge cheap and then work your way up, and it’s hard to charge expensively and find the right client; everything has a difficulty level, and you choose your hard."- Jasmine [17:12]</li>
<li aria-level="1">“Problem-solving will sell more than skills, sales, and services; if you can solve a problem, that is where your secret sauce can really shine.”- Jasmine [31:00]</li>
<li aria-level="1">“Just charge more is not a strategy; it’s a lack of one; it means that you have no strategy around your pricing; you need to calculate your pricing for yourself, and if it feels high, that is an opportunity for you to earn value.”- Jasmine [40:16]</li>
<li aria-level="1">You need to make your own version because if you make what everyone else is making, you become a choice in the lineup, and they will go for the lowest price; people, when faced with the cheaper options, they are looking for a temporary solution.”- Jasmine [51:22]</li>
</ul>
Stay Connected
Jasmine Parasram
Website: <a href="https://creativebusinesskitchen.com">https://creativebusinesskitchen.com</a>
Instagram: <a href="https://www.instagram.com/yourpricingqueen/">https://www.instagram.com/yourpricingqueen/</a>
Pricing calculator: <a href="https://creativebusinesskitchen.com/calculate/">https://creativebusinesskitchen.com/calculate</a>
 
Emma Edwards
Website: <a href="https://thebrokegeneration.com/?v=518f4a738816">https://thebrokegeneration.com/?v=518f4a738816</a>
LinkedIn: <a href="https://instagram.com/the.brokegeneration">https://instagram.com/the.brokegeneration</a>
Instagram: <a href="https://instagram.com/the.brokegeneration">https://instagram.com/the.brokegeneration</a></li>
</ul>
Thanks to our Season Sponsor H&amp;R Block. 
As Australia’s leading tax experts, the team are here to help, offering on-going support for individuals and small businesses, and FREE BAS services for all newcomers. Get more, for sure, with H&amp;R Block. 
Visit <a href="https://www.hrblock.com.au/business-services/small-business/" data-saferedirecturl="https://www.google.com/url?q=https://www.hrblock.com.au/business-services/small-business/&amp;source=gmail&amp;ust=1684451735712000&amp;usg=AOvVaw3rdYc7ExAn-XYfu_iCobJN">hrblock.com.au</a> to book an appointment.

Welcome to Broke Business – the money podcast for business owners, brought to you by The Broke Generation.

Broke Business was born out of my own experience dealing with the unique financial realities of self-employment. Going from employed, to employed with side hustle, to full time self employment has been... interesting to say the least. Being in business completely transforms your relationship with money, and presents new opportunities and challenges along the way. I created Broke Business as a space to have more conversations about money in business.

Broke Business will bring you:
tips on managing money as a business owner or freelancer
support on the financial challenges of self employment
ideas on how to make more money – and feel confident doing it!
insights into how your sense of self plays a role in business finances
an understanding of your own financial psychology in business
stories, insights and advice from fellow business owners who 'get it'
welcome relief from the 'girl boss' business narrative 
tips on resilience and bravery in business
a real, unfiltered look at the intersection of business and money
money conversations specifically for business owners and self employed people

Hosted by Financial Behaviour Expert, Emma Edwards, Broke Business will leave you feeling seen and heard when it comes to business and money, and give you practical and emotional advice on how to feel more financially confident in your business. 

Find Emma on Instagram at @the.brokegeneration. 

Welcome to Broke Business – the money podcast for business owners, brought to you by The Broke Generation.
Broke Business was born out of my own experience dealing with the unique financial realities of self-employment. Going from employed, to employed with side hustle, to full time self employment has been... interesting to say the least. Being in business completely transforms your relationship with money, and presents new opportunities and challenges along the way. I created Broke Business as a space to have more conversations about money in business.
Broke Business will bring you:
<ul>
<li>tips on managing money as a business owner or freelancer</li>
<li>support on the financial challenges of self employment</li>
<li>ideas on how to make more money – and feel confident doing it!</li>
<li>insights into how your sense of self plays a role in business finances</li>
<li>an understanding of your own financial psychology in business</li>
<li>stories, insights and advice from fellow business owners who 'get it'</li>
<li>welcome relief from the 'girl boss' business narrative </li>
<li>tips on resilience and bravery in business</li>
<li>a real, unfiltered look at the intersection of business and money</li>
<li>money conversations specifically for business owners and self employed people</li>
</ul>
Hosted by Financial Behaviour Expert, Emma Edwards, Broke Business will leave you feeling seen and heard when it comes to business and money, and give you practical and emotional advice on how to feel more financially confident in your business. 
Find Emma on Instagram at @the.brokegeneration.

Broke Business

On season one of Broke Business you will hear insights from Emma Edwards of The Broke Generation all about financial psychology, behaviour and business ownership. You'll also be privy to practical tips from tax experts and pricing professionals, and lots of rich stories from other business owners on how they feel about money in their businesses.

On season one of Broke Business you will hear insights from Emma Edwards of The Broke Generation all about financial psychology, behaviour and business ownership. You'll also be privy to practical tips from tax experts and pricing professionals, and lots of rich stories from other business owners on how they feel about money in their businesses.