"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…
Coulda, shoulda, woulda. For every business owner or entrepreneur there are things they wish they knew at the beginning but didn't. Here are a few pricing lessons most entrepreneurs learn too late. Some common pricing questions people ask at the beginning include: How to set the price of my products?…
Ease-based pricing and common mistake in pricing. No it's not a technical term but it's some that many people do at the start. For example hourly based pricing can feel like the easy thing to do. The question is, is it the right thing to do? If you do it…
Making the shift from job to entrepreneurship can be tricky. Pricing is one area where most people have no idea where to start. They end up making it up as they go along, which leads to mistakes & a lot of wasted energy. Finding the right prices is more difficult…
Selling a high value offer at a low value price. This is a situation where many businesses find themselves. Often because they don't understand the value of what they're offering. Sometimes that's combined with a lack of confidence in charging higher price. Either way the result is the same, they're…
Are you using time-based pricing? It's quite common for people who offer services like coaching or consulting to use hourly based pricing. For most businesses such a pricing model doesn't serve either the client or the business. From the clients they often try to skip important steps that help them…
I'm here to work and make money too. But...I can't charge people because this isn't my real job. I can't charge because I'm new. I can't charge because they can't afford it. These are just a few of myriad reasons people give for giving things away for free and for…
Do you know how what you say impacts customer willingness to pay? Clarity of message is key in all things, and pricing is no exception. A customer's willingness to pay for something can be fickle. That's one reason why an important part of pricing is to consider the message. The…
Pricing behavior is fascinating and it is influenced by many things - like geography, culture, upbringing, industry etc. We can learn so much by simply observing the world around us. Many years ago I was in Egypt at one of the markets and there was a stall with at least…
Overcome your thinking...sometimes that's what's needed to move forward in life. A simple shift in your thinking can make all the difference in life, in business and yes in the effectiveness of your pricing. Often being able to overcome your thinking is what makes the difference when it comes to…
Your personal traits, money and pricing are all related, but how? What's your relationship with money? How does that impact your decision making? And what does it mean for your business? The way you think and behave with money influences not just life but also business. It changes your view…
Raise profits (or even maintain)...that's an important part of growing your business. To do that you've got to understand the things that influence your profits and know how best to leverage them. Your goal isn't to raise profits just because you can. It's to do so in order to continue…
Profitability is one of the main goals of your business, but if what you know about pricing is all wrong you will struggle at best. What we learn as consumers is by in large the knowledge that most people posses about pricing. The retail world is different than most businesses.…
Pricing your offer is a challenge under "normal" circumstances, but what if your offer isn't like the "magic pills" everyone else is offering? It's not that it's not valuable it just doesn't have that "sexiness" that other offers do. Should your offer be cooler in order to price it right?…
Diminishing word patterns can kill pricing conversations. It might just be that they way you're talking about the value you deliver or the prices themselves is actually turning people away. In her book Playing Big, Tara Mohr talks about diminishing word patterns. I confess I saw myself in that too…
Have you set the right prices? Do you know what the 5 key steps are to pricing success? For small businesses, startups, and entrepreneurs you need to know what pricing really is before you can do it properly. Get a brief introduction in this video. Pricing is so much more…
Do you feel like a fraud when it comes to telling customers what you charge? Are you striving to charge good money for what you offer but unsure if your price is right? If so you're not alone. Many people struggle with this and sometimes for good reason too. In…
Dirty, disgusting discounting habits. They are killing your business and it needs to stop…now. Have you ever granted a discount because: it was easy, you felt ashamed of your prices, guilty to charge that much, anxious or afraid to ask for it, too lazy to stand up for your value,…
It's time to face your pricing fears. When it's your own business, pricing and fear often show up as a dynamic duo...and not in a good way. It's a major reason why many young businesses struggle so much to get to a sustainably profitable state. You have to recognize when…
Traditionally we think of value being derived simply from the functions & features of a product or service. But what about the influence of a company's purpose or their impact on the world, how does that affect value perception. And how is that reflected in what you can charge? That's…
This week I released my newest tool the self-assessment Pricing Scorecard. I've had a Scorecard for a while now. Many of you have used it and shared your learnings and insights with me. The new one is a self-assessment tool, meaning you can download it immediately and use it without…
There's a huge temptation for small businesses to try to compete on price. Especially with new business it's often the "go to" strategy. In fact, most businesses spend more time, energy and creativity trying to lower their prices then they doing putting efforts into maintaining or raising prices. Competing on…
Pricing without reason. Pin-the-Tail-on-the-Donkey was a popular party game at children's birthday party. It was a lot of fun but terribly frustrating to get it right. Your dizzy, often pointed in the wrong direction and blind folded. Making it really difficult to do anything much less get the poor donkey…
When it comes to making decisions about pricing in your business you are as important a part of the equation as is your customers. Too often people don't take that into consideration and then find themselves with the wrong prices. In this episode of Live with the Pricing Lady, expert…
