If you ask a random person “what would make this product better?” most of them will tell you to make it cheaper. Price is always the focus when the product or service isn’t differentiated in any other way.
Do you let customers brow beat you into believing your service isn’t worth what you’re charging? Do you lead with value instead of price?
Today, I discuss some pitfalls of going from employee to lone wolf when it comes to pricing your services and making sure you’re charging enough to run a responsible business.
To avoid making the mistake of pricing your service too low, look at your established competition in the market and figure out what they’re charging. You should be within about 10% of them to be sure your business is viable. Also, don’t compare yourself to other brand new businesses – they could be making this mistake and not realize it yet.
If you have stories of cheap customers or customers insisting on paying you what you’re worth for your services and would like to share them on the podcast, send me an Email. My address is at the top of the site. You can also use the Contact page to get me a message.