Let’s Talk About Money
How a system of fair exchange helps everyone
By Mardi Rogers
In an attempt to consistently improve my offerings, coming into term 4 with a new higher cost venue I was faced with the decision whether to raise the price of my donation based meditation groups.
After much internal debate, and with the concept of fair exchange in mind, I’ve decided that yes, prices will rise – for your benefit, as well as mine.
When I put a donation based payment system in place I had the intention of helping more people that price might otherwise be a barrier for, and also support my costs. But the truth is that what seems to have happened is that I’ve devalued the teachings, and instead of increasing, attendance and engagement has actually dropped. This in turn means that the donations I’ve received have barely covered costs, and this can be tricky as apart from venue hire costs, I too have bills like petrol, food and rent to pay.
Then a great insight…
I went to a business coaching workshop last week and the presenter had a very good point/question:
“If you price yourself too cheap what you offer will be perceived as low value – and who does that really help?”
Now we’re not talking sheep stations here – the price rise will be increased from $5 to $15/$10 concession/seniors with multi class pass discounted options which will bring the cost inline with my yoga sessions – which you will be able to interchange between the different sessions. And this is still cheaper than many other meditation and yoga classes.
Is it too much?
I really struggled with the idea of essentially doubling the cost, until I wondered if anyone would hesitate to pay $10-$20 for lunch at a cafe? And isn’t meditation like feeding your mind? I know without a doubt that the information I share in my meditation groups is worth the cost of a lunch. I hope you agree.
Then why the hesitation?
I worry that people won’t be able to afford it – but the truth is that if we value something we find a way.
We choose this instead of that.
How important is cultivating a meditation and mindfulness practice to you?
When it comes down to it the more you value something the more attention you pay, and the cost becomes a part of the budget. When something is free or cheap how much time do you invest in it? How often do you really ‘show up’.
Of course, if you are really struggling financially please simply pay what you can afford – and maybe help support the classes in other ways, like sharing and recommending to others or sharing home grown fruit/veg. What is a fair exchange for you?
I love sharing meditation and yoga with you – and with your regular attendance and financial support I hope to continue offering you value – that your really do cherish, and utilise in your life for more health and happiness.
Don’t hesitate to contact me, or come and see me if you have any lingering questions or feedback – I’m always happy to help 🙂