How to Price Correctly as a Service Based Business
We need to make sure you know how to price correctly in business because proper pricing can make or break a business.
Too many business owners are missing critical areas when they are considering pricing, causing losses in terms of money, and in terms of clients.
In this episode, I cover the two ways you need to look at pricing so that you are pricing for your own businesses profitability, and to make sure that you are delivering a winning situation for your clients.
The first thing we need to look at when it comes to pricing is ensure we are pricing profitably. That doesn't just mean including the costs of servicing your clients, but it also includes allocations for overheads, taxes and your own pay. Things which many business owners forgot when it comes to reviewing pricing, and causes them to dig more of a financial grave with every sale.
The second thing is value. Pricing profitably is really important, but if we are not providing incredible value to our clients, then no one will want to buy from us at that profitable price point. Therefore this is a crucial step in ensuing your prices are where they need to be. Pricing with value in mind ensures there is a win-win for you and your clients.
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