In this super fun and spontaneous conversation, Sandra Boekhoudt CEO of WealthyWiseWomen.com) and I talk about the art & science of price setting, why women have such a hard time to set a price and hold it, and what factors play a role in setting a price from a marketing and financial point of view.
Why is pricing so elusive?
The reason you went into business selling services to customers was to make a profit.
If you are giving away your services pro bono, for less than cost, or just breaking even, you are operating a a business that’s likely to fail.
One of the most important decisions you need to make to determine whether you turn a profit or not is how to price your services.
Get your pricing strategy for your services wrong and you will create a problem you may never overcome. Get it right and you will dramatically increase the likelihood of creating a business that perseveres and takes care of you financially.
Pricing our services is one of the hardest decisions women entrepreneurs have to take. It’s even more difficult than pricing products because it’s more subjective to calculate the worth of your counsel, your staff’s expertise, and the value of your time.
As if the above is not enough, all kinds of thoughts populate in our minds: do my clients have the money? Who am I to charge THAT amount? How do I figure out the math of it? How do I tell my potential clients my fees without feeling I am about to faint?
Grab your favourite drink, your notepad and get ready to take notes, because your most burning questions are being answered today.
It’s time you stop being ashamed and start charging what you are worth!