What are the things that businesses do well to improve their pricing? That’s a great question. I often speak about the mistakes people make but this time I wanted to focus on what you can and should be doing with pricing to help you – i.e. pricing best practices. We are in unprecedented times, things …
5 Pricing Best Practices for Your Small Business in 2022 and Beyond Read More »
One of the biggest mistakes small businesses make is not understanding what it is going to take to achieve the profitability they want to make. And yet it is so important to building a successful business. When you don’t know what it will take to achieve your goals (or if you don’t have the right …
Only After 100 Clients, Did I Realize I Wasn’t Turning a Profit Read More »
One of the questions I get most often from people is when should I start looking at pricing. Most experts, myself included will tell you as early as possible. Why? Because you need it to understand the profit story of your business. To understand what it will take to be profitable. To explain to investors, …
Many businesses use cost plus pricing to determine their prices but what is the role costs in pricing? Cost-plus pricing is one of the most widely used methods for setting prices, but it also more often to not leads to over- and underpricing. While understanding costs is important to having a successful Pricing Strategy and …
“For a long time pricing was a great big mysterious thing. I didn’t understand where the numbers came from.” If you feel or felt this was then you’re not alone. Pricing is rarely taught, in fact most people don’t even know there are people out there who are experts. Your job, one of them, as …
For a Long Time Pricing Was This Big Mysterious Thing Read More »
Avoiding everyone-itis is a better path for most small business owners. Certainly better than being a generalist.”Who’s your target customer?” I asked.” Well, anyone.” They responded with proud smiles.”Oh no…here we go.” I thought to myself.When it comes to starting or running a business nearly every program, coach or consultant will ask you who are …
Everyone-itis: How a One Size Fits All Offer Can Hurt Your Pricing Read More »
Commonly businesses believe they have to set their prices low to entice customers. However more often than not it can be counterproductive – in fact it might be what’s keeping people from buying. They just don’t believe they’ll get the value, because the price is so darn low. That’s what my guest learned and shared …
When the Price Is Too Low People Won’t Believe in the Value Read More »
There are three types of discounts effective, ineffective and unnecessary. Most small business could benefit from being more careful about the discounts they offer and when. In fact, when it comes to “leaking” profits, poor discounting habits are often the biggest drain. It makes sense to put more rigor and thought behind what you’re doing. …
6 Questions You Should Ask Before Offering a Discount Read More »
Over the years I have heard the battle cries from businesses and sales people about how the competition has such low prices. “It’s killing our business. What can we do?” They cry. Often they feel defeated and like they don’t have a chance to be successful because these “cowboy” competitors are in the way, with …
How Can the Competition Have Such Low Prices & What Should I Do About It? Read More »
“Sometimes it’s just as simple as asking for more.” These are words to live by in life and in pricing for your business. Most young businesses start out underpricing. This happens for a variety of reasons by design, lack of confidence, untested offers, their offers often have lower value. But most come to a point …
How Sometimes Pricing Is Just as Simple as Asking for More Read More »
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