Episode Overview
Host Janene Liston interviews Dr. Carrie O. Graham, a curriculum development expert who transitioned from healthcare to entrepreneurship. The conversation explores Carrie's pricing evolution, business challenges, and insights gained over her two-year entrepreneurial journey.
Listen Here > https://www.youtube.com/watch?v=EfeCbHfE9zw
10 Key Points
- Career Evolution Creates Value: Carrie's journey from healthcare provider in college athletics to educator to entrepreneur demonstrates how seemingly disconnected experiences build valuable skills. Her healthcare background taught her to ask deep, probing questions—a skill that now serves her clients.
- The Pricing Journey is Personal: Carrie emphasized that pricing, like entrepreneurship itself, is an individual journey. She started with hourly pricing based on what felt "easy" to her, not recognizing the true value of her 25+ years of experience.
- "Pin the Tail on the Donkey" Pricing: Initially, Carrie priced services intuitively without strategy—what Janene calls "Pin the Tail on the Donkey Pricing." This approach generated revenue but didn't match her time and energy investment.
- Value Recognition Takes Time: The transition from hourly to value-based pricing took Carrie about a year. The turning point came when clients consistently told her how powerful and transformative her work was for them.
- Customized Pricing Reflects Customized Service: Carrie learned that different clients receive different levels of service depth, justifying variable pricing. This challenged her "rule follower" mentality about fairness, helping her understand that fair pricing reflects actual value delivered.
- Introversion Doesn't Disqualify Leadership: Despite being incredibly shy and disliking public speaking, Carrie has presented at national and international conferences. She's learned to manage her introversion while still delivering value.
- Listening as a Superpower: Carrie identifies her exceptional listening skills—hearing both what is said and what isn't said—as her greatest strength, benefiting both her personal relationships and business clients.
- Focus Prevents Overwhelm: Early in her business, Carrie wanted to pursue three different passions simultaneously. The best advice she received was to pick one area to start with, though she's since incorporated elements of the other areas into her core offering.
- Pricing Evolution Never Stops: Both Carrie and Janene agree that pricing is a constant evolution. As entrepreneurs grow and expand their comfort zones, their pricing should evolve accordingly rather than lagging behind business growth.
- Faith and Business Integration: Carrie credits her faith and the Bible as her primary business resource, helping her navigate uncertainty and make decisions during her entrepreneurial journey.
10 Takeaways/Action Items
- Audit Your Past Experience: Reflect on your previous career(s) and identify transferable skills that add value to your current business. Don't disregard past experience—find ways to leverage it in your present circumstances.
- Move Beyond Hourly Pricing: If you're pricing by the hour, evaluate whether this reflects the true value you provide. Consider the depth of your experience, credentials, and the transformation you create for clients.
- Document Client Feedback: Pay attention to what clients say about the impact of your work. Use their language and outcomes as evidence for value-based pricing decisions.
- Embrace Customized Pricing: Recognize that different clients may require different levels of service and therefore different pricing. Tailor your pricing to match the actual value and depth of service provided.
- Stay Ahead of Your Comfort Zone: Regularly assess whether your pricing matches your current skill level and business evolution. Don't let pricing lag behind your growth and expanded capabilities.
- Focus on One Core Offering: If you're just starting, resist the urge to pursue multiple passions simultaneously. Pick one primary focus area and incorporate other interests as supporting elements.
- Practice Pricing Conversations: Develop comfort with pricing discussions by adopting the mindset that "your price is what it is." Practice articulating value before discussing price with prospects.
- Stop Comparing Your Journey: Avoid comparing your pricing or business journey to others. Focus on making the best decisions for your unique situation and business model.
- Plan Pricing for New Services Early: When developing new offerings, start thinking about pricing strategy early in the development process rather than as an afterthought.
- Develop Your Own Success Framework: Identify your core resources and support systems (whether faith-based, educational, or community-focused) that help you navigate business uncertainty and decision-making.
Notable Quotes
- "My superpower is that I have an amazing listening ear... I listen to what's said, but I also listen for what's not said."
- "Your price is what it is. It just is what it is."
- "Pricing, just like your entrepreneurial journey, it's yours... don't compare your pricing or your journey to the next person."
- "Pick one area to start in... you can circle back, but just pick one thing."
Resources
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