Aug 18, 2020
Today I’m discussing what is hands down one of the things I get asked about the most: how to price your product or service. 80-85% of the clients I work with are not pricing their offering in a profitable way, which leads to losses in their company and is one of the major reasons the owners are not paying themselves consistently.
Interestingly enough, while I talk about this all the time, I haven’t yet done a show on pricing. So today’s episode comes to you courtesy of my 11 year old niece. We have spent the last few weeks together as she has also been at my parent's place in Nova Scotia so she can attend a figure skating camp. In her downtime from skating she has been making all of us beaded bracelets – some on spec and some custom.
Any business with cash flow issues is at risk of closing within 90 days, and getting your pricing right is critical to avoiding this potential catastrophe. Listen in as I share the three steps to pricing your offering in a way that not only makes sense to your business, but to your customers as well. You'll also discover why planning is so important to any business and the one crucial cost that many business owners fail to include in their pricing.
“Of the clients I work with, I would say that 80-85% of them are not pricing their offering in a profitable way.” - Tracey Bissett
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