How often you have heard this from your prospects: “I can’t afford it.”
It’s happened more times than you can count, right?
And it hurts, because it leaves you feeling completely powerless.
You see this amazing person whose life you can change forever, and she just said that she doesn’t have the funds to hire you.
You want so badly to help her, but she just said it’s impossible and there’s nothing you can do about it.
Now, what if I told you she was lying to you?
Today, I’m sharing the cold, hard truth:
If your prospects are saying those four dreaded words, they’re often lying to you (even if they don’t mean to).
But there’s good news…
When you know this is happening (and exactly what to do about it), instead of your bank account bottoming out, it balloons. Instead of trust being destroyed, it’s built. And relationships blossom.
Even better?
Once you know what to look for, this lie is pretty easy to spot, which means you have the power to turn these potentially destructive situations into wildly positive and prosperous ones.
Click to TweetWhen your prospect says, “I can’t afford it” use these magic words from @jennyshih and @kendrickshopeWe’ve all done it…
I know the topic of money can get messy, so let’s get out of your business and your clients’ bank accounts for just a second.
Instead, let’s focus on you:
Can you think of a time when you thought, “I totally want that [insert coveted object or experience, like a gorgeous purse or Hamilton tickets], but I can’t afford it”?
And then… maybe one hour, one day, or one week later, you splurge on that coveted thing.
Here’s the thing:
When you said, “I can’t afford it,” you totally believed it!
But the truth is, you had the funds available to you—whether as space on your credit card or money earmarked for savings—or you found a way to get the funds you needed (by squirreling away money, getting a part-time job, or selling old baby toys).
So what changed between when you said those words and when you made the purchase?
You rationalized, justified, and found a way to get what you really wanted.
Now, I’m not judging you. This is a pretty common human behavior, one you and and your clients are doing all the time.
I see it in my clients all the time. Smart women will say they can’t afford my program, then go sign up!
Their desire is so strong that they find a way to make it work.
And if they truly can’t afford it because they don’t have the funds, they wouldn’t reach out in the first place or they would suggest creative ways to pay you back.
So the question is, for the clients who can afford you but tell you they can’t, how do you help them make the shift from thinking they can’t afford it to realizing they totally can?
What people really mean when they say “I can’t afford it”
First, you need to know what people really mean when they say, “I can’t afford it.”
Here are some of the options for what they really mean:
Option 1: I don’t believe in your product or service.
If your prospect read your Work with Me page and/or chatted with you on a consultation call, and they’re still saying “I can’t afford it,” then it likely means they don’t believe your product or service will deliver on what you say it will.
It’s possible they’re not the right fit for the offer (which is fine!) but more often, the language you’re using isn’t connecting with their deepest challenges and goals.
Option 2: I don’t believe in you.
Again, if your prospect read your Work with Me page and/or chatted with you on a consult, it’s possible that you have the perfect offer for them, but for some reason, they aren’t connected with you.
There could be something you’re unintentionally projecting energetically. Maybe you’re being too pushy, coming across as desperate for clients, feeling insecure or uncertain of your offer (or of yourself), or maybe—like above—you’re failing to connect with the same language your prospects are using. All of these things will cause them to run in the opposite direction.
Option 3: I don’t believe in myself.
Think about it for yourself: How many times have you gotten in your own way when trying to make a big decision?
It happens to all of us, including your prospects. Your prospects might worry that they don’t have what it takes to stick with your program, or make the money back from their investment, or have the guts to put themselves out there.
Now you can clearly see how it’s way easier to just say, “I can’t afford it.”
On the one hand, it’s a culturally acceptable saying. It’s an easy out. And it’s something that almost no one will challenge when you say it.
When a friend, a sibling, or a client says to you, “I can’t afford it,” you’ll never never say, “I don’t believe you. Show me your bank statements, your credit card bill, and your monthly budget.”
Not only that, but people often don’t even realize that those three things are what they’re thinking!
That’s why it’s so easy to just say, “I can’t afford it.” It allows them to end the conversation without putting themselves in an awkward position.
This is also how your clients are using these words. Except…
It doesn’t have to end their conversation with you… if you know these super secret and powerful sales tricks, which I learned thanks to my dear friend and sales genius, Kendrick Shope.
Click to TweetHere’s what your prospects REALLY mean when they say they can’t afford to hire you.What to do when you hear “I can’t afford it”
Now that you know what’s going on inside your prospects heads when they say, “I can’t afford it,” what do you do about it?
The next thing you need to do is acknowledge what they said with empathy.
Again, as my smart sales friend Kendrick Shope taught me, use the exact words, “Thank you for sharing. I understand…”
This isn’t about acting empathetic to get the sale.
Use genuine empathy. I’m confident you can relate to your prospect’s situation. You might say something like, “I understand what it’s like to see an investment you want and not have the funds to invest.”
Another reason people say, “I can’t afford it” is because they’re afraid of being sold hard. When you thank them for sharing and express genuine empathy, you’re instantly building trust (instead of eroding it by trying to sell harder).
Once you’ve said those magic words, get curious. Ask questions to see if you can discover the real reason your prospect is saying these words.
Some questions you might ask include:
What would need to be included in the program to make this a no-brainer investment for you?
If money were no object, would this be a service you’d invest in (or would I be the kind of coach you’d want to work with)?
These may or may not be the right questions for your consult process, your offer, or your client, so that’s something you’ll have to feel out in the moment.
Digging deeper and figuring out what’s really going on with your prospects is also really helpful for when you need to write follow-up emails to close sales after the consult is over.
My Personal Recommendation for YouCurious About Kendrick Shope’sAuthentic Selling® University? My 100% Honest ReviewUse this idea on yourself
Before we wrap up this post, there’s one more thing I want to mention, because this is a powerful tool for your own personal growth as a business owner:
Use this on yourself.
Seriously, next time you find yourself thinking, “I can’t afford it,” whether it’s about a business investment or a vacation or braces for your kid, see what your real objection is.
Do you believe in the product or service?
Do you believe in the person you’re buying from?
Do you believe in yourself?
Where is the gap, and what needs to happen—if anything—to close that gap?
Do you have questions you need to get answers to?
Do you have some self-accountability that needs shoring up?
Get honest with yourself, and then you’ll make a much better decision, whatever that happens to be.
You tell me
I’m really curious…
How often do you hear “I can’t afford it” from prospects? What do you think their real objection is?
How often have you used that excuse in your own life or business? And what did you really mean when you used it?
How do you plan to use your new insights in your own business?
Fill me in below!
My Personal Recommendation for YouCurious About Kendrick Shope’s Authentic Selling® University? My 100% Honest Review
I work on coaching around price a lot because my group is high-ticket and the price isn’t on the website, so there’s often sticker shock even from people who end up signing up. I love this idea for an intro phrase where you acknowledge that it’s challenging to want to invest in something and not have the funds to do so. Thank you for that tip!
I’m curious about the question: “If money were no object, would this be a service you’d invest in (or would I be the kind of coach you’d want to work with)?” – I imagine people just say yes, because it seems hypothetical and it’s polite. So how does that get you more info? This seems like it takes you right back where you started.
Such a great question, Kara! The first thing to notice in your question is that you’re believing the story that they can’t afford it. As long as you believe that, you’ll end up in this same spot.
For a moment, suspend your belief that they’re telling you the truth and instead, consider that they might be not telling the full truth. Now, you ask “Is a service you’d invest in (or would I be the kind of coach you’d want to work with)?” and they say YES.
Great, so now you know that they want your service. From there, you can follow up with, “You believe in me and in my service. You believe it can change your business/life. I want this for you as well. So what needs to happen so we can make this work for you?”
This opens up the opportunity for a deeper conversation. Because you’re changing the conversation and indirectly saying, “I don’t believe you about the money thing” without actually saying it, you’re getting the prospect out of the old money pattern.
Now sure, sometimes they’ll come back and say, “Really I just can’t afford it. I’m behind on my mortgage, my husband is in the hospital, etc.” But sometimes they might say, “I need a payment plan” or “Can I start next month?” You’re simply giving them another opportunity to tell you what would help them make this happen for themselves.
One more thing: If you have transparent pricing (pricing on your website, which I’m a huge fan of), if they got on the phone with you for a consult, they know the price. And most people won’t get on the phone if they aren’t actually considering hiring you. So don’t ever buy into the “I can’t afford it” objection because it’s just a story they’re telling you (that you’re believing).
Hope this helps!
Thanks Jenny! Insightful as always.
I actually didn’t mean I believe they can’t afford it – I think that “I can’t afford it” / “I have to ask my X” almost always means either “I don’t believe I can really change” or has to do with their own money thoughts, like that debt is bad or it’s frivolous to invest this much in themselves, etc. I can see clearly that it’s a good investment for them because there will be emotional and financial payoff for them that makes the investment worthwhile.
But I was kind of thinking they would just say “yes of course but I can’t afford it” and I’d be back where we started in terms of needing another question to move it forward. Love the suggestion of “what would need to make it happen” though, that’s helpful – I will try that! I do hear “I need to save up” often, for sure. Thanks for your reply!
I love how self-reflective you are! (No surprise, really! Caryn told me how awesome you are! 😉 )
That line is definitely more “aggressive” and isn’t for everyone. I am a superfan of having clients practice their scripts and all of these lines with a partner to test them out and see what feels good to you. Speaking of which, most of it feels awkward the first time, but gets easier over time.
Oh lord for sure. I think the place in my life right now I most see the benefits of being willing to be more and more uncomfortable is in coaching over price objections/sticker shock. I still have a ways to go but even the progress I’ve made so far has been SO uncomfortable but so worth it. Thanks for your wisdom!
Oh lord for sure. I think the place in my life right now I most see the benefits of being willing to be more and more uncomfortable is in coaching over price objections/sticker shock. I still have a ways to go but even the progress I’ve made so far has been SO uncomfortable but so worth it. Thanks for your wisdom!
This post is everything. Such great tips. I’m wondering if you ever recommend that we share a personal story of a time we invested even though we weren’t sure we could “afford it”?
I’m going to be honest and put it out there that sometimes when I feel like it’s not the right fit or I’m being pushed into something I don’t feel comfortable with I’ve used the, “I can’t afford it right now” or “It’s not the right time” or “I need to talk with my husband about it. It’s really just an escape plan for me when I started to feel pressured or like there’s no other way off the line.
I recently read a story about someone who was attending a workshop and the coach offered a limited number of spots for 1:1 work with him at $85k. The first thought the author had was – hell no. But then she started to justify it to herself and found a way to make it work because she believed the investment would make life-altering changes for her business.
Great question, Kim! And the answer is a resounding YES! You’ll see in the consult and follow-up templates that there are suggested places where you can use a story to connect with your prospect. It’s another one of those things like I suggested to Kara above where you would want to practice it before you use it so you can get comfortable with the wording—and it’s a great tool to use to overcome objections.
Love this! I tweaked it and just sent this email to a client who recently responded to a proposal saying “We decided we don’t want to spend that much right now.”
Here’s the email I sent. What do you think?
===========================================================
I was just thinking about your project and I’m wondering a couple things:
What would need to be included in the program to make this a no-brainer investment for you?
If money were no object, would you be ready to sign up?
The reason I ask is sometimes people automagically say “I can’t afford it” when they want someone to leave them alone or the price is a bit higher than expected. We all do it and often without even realizing it.
May I ask you to reconsider the proposal?
Do you believe in the service I will be providing and do you believe in me? If so, I want to challenge you to consider the return on investment you would get from the project. I firmly believe you would make back more than your investment!
That’s all I wanted to say. Thanks for listening!
Thanks!
Glennette
Way to take action!
Kendrick taught me that when we sell, we need to “feel into” what is right and genuine for us. For me, your email is a bit too direct, meaning not exactly what I would send. That doesn’t mean it’s wrong.
Telling someone, indirectly, “I think you’re lying to me when you say you can’t afford it” isn’t usually a tactful way to make a sale. It would likely push them away, though everyone is different, so you’ll learn from it for sure.
Instead, starting a conversation about what their needs are and how to make it work usually will create a win-win outcome. Ask just the first question, “What would need to be included…” or a derivative of that to see what they’re really thinking. It goes back to my comment earlier about creating genuine empathy and connection with someone.
I dive into these in more detail in my consult and follow-up scripts, which you can find in the shop: https://jennyshih.com/products
Great information and conversations here.
You ladies have inspired me to go back and follow up with two woman who basically said, “I can’t afford it” , before I had the consults that convert.
I had an older script I used to use that worked very well when my program was a lower price point.
But since I’ve increased the value and cost of my program I’ve found
that old script isn’t effective. It’s an interesting dance!
Time to practice the new script.
Love this, Martha! You’re so right on this—when you have a new offer or increase the price, you also have to update the consult script. Do you have the follow up templates as well? They will give you the extra oomph to nail this. So excited for you!
Yes Jenny. I was pleasantly surprised to get the tripe bundle upgrade when I got consults that convert. So awesome to have all these tools and templates! I had been doing more of a strategy session with a sales pitch at the end, for 3 years. It worked really well when my program was a lower price point. Now that it is nearly doubled it’s a real shock to people at the end of a strategy session and it feels uncomfortable for them. I needed a new approach and system. Really excited to start using these templates.
Yes! Love this! I’m a huge fan of deliberately separating free advice from sales consults. You can see a video I did a few years ago over here: https://www.facebook.com/jennyshihpage/videos/955436204543861/
I’m really excited fro you to try this new, clean and clear sales approach. It’s worked wonders for me and my clients, and when you put the time in (which you, no doubt will), it totally pays off.
Cheering you on, Martha!
HI Jenny,
Thank you for this article. I found it very helpful. To answer a couple of your questions, I HAVE said “I can’t afford it” and it was totally and literally true at the time. I had confidence in the service and in the person offering the service, I had HUGE confidence in myself in that I would benefit from the service. AND I didn’t have the funds in my bank account to pay for it. So I did exactly what you said some clients do. I saved up out of my monthly living budget for over a whole year and then I signed up for MIWO. So glad I took the time to save. 🙂
Yes, it is an easy way out, saves face, and buys time in order to buy your investment. All works out in the wash though.
I almost didn’t read this article because I don’t like the title and it put me off right away. No, when people say to me “I can’t afford it”, they are not lying to me–I definitely do not perceive it that way. Thus, my hesitation to read the rest. I did read it though, and hope one day you’ll change the title to something more charitable. I’m sure you can come up with a dynamic, positive, and attractive title that speaks to us with no hesitation to read further. 🙂