How do I know the price of my book? You'd think that pricing a book is pretty straightforward. But there are, just like anything else, many different things that influences how you set the price. How you're using the book in your offering. What your goals are with the book.…
We have a joke amongst pricing professionals that when pricing goes well, every one (all the departments like sales, finance and marketing) claims responsibility. When it’s not, they’re pointing fingers of accusation at one another. What’s also interesting is how often people leave pricing out of the discussion until the…
Many entrepreneurs are afraid to choose a single target customer group because they fear if they do they won't sell to anyone else. However the opposite is true. By being too general in who you're targeting you will weed many people out because your message and offer will be too…
In this episode, we focused on a different aspect of profit optimization, cost management. We're talking about how to improve the bottom line in your business from the other side. Yes, I'm always saying focus on price and value. That's true most businesses don't focus on them enough. But that…
Small businesses spend way too much time and energy trying to lower prices and not nearly enough finding ways to get better prices. Even when they know their prices should be higher they're often afraid of raising them and instead do nothing. There's nothing to fear when you know what…
Pricing brings out a lot of internal conflict around money, success and worthiness. More often than not people feel like they'll be judged as an imposter if they charge "those" kinds of prices. Reality is if they're delivering the value not only can they but they should be. All this…
Most of the time when it comes to pricing people are focused on THE NUMBER. That's the full extent of what they think of as pricing. BUT words matter in pricing. In fact, quite often the words matter more than the price itself. One thing you can do to improve…
Price setting is a thought process not a mathematical calculation. Often when people ask me how they should know what to charge they expect me to give them a formula to make the calculation. Price setting isn't as simple as that. Companies that treat it as a math problem are…
The new year is a new opportunity to take those important steps towards better profitability in your business. The fastest route to that is by improving your pricing. The question is what can you do? In this episode of Live with the Pricing Lady I'll share with you 5 (pricing)…
Many clients ask me the question "How do I know when to change my prices?" I realize that they are asking mostly because they are afraid to do it. Often they know it's time but the fear of losing even one customer is so horrible they can't reconcile it in…
Do you know the value delivered to customer(s)? Reality is if you don't value what you deliver your customers, chances are no one else will either. Too often business owners don't really believe in what they deliver. On the surface they say and do seemingly the right things, but at…
When it comes to customers asking for discounts the urge to simply say yes can be hard to resist. Let's face it's an easy thing to do. And an easy way out of what feels like a difficult discussion. Sometimes you're even tempted to preemptively offer a discount. However the…
One of the things that holds many service providers back in their pricing is the idea that the value of their services is directly proportional to the time it takes you to deliver the service. Here's what I say... "Time is just the wrapper your service comes in." Think about…
Years ago one of my bosses came to me and said, "Janene, you've got to help me. The management team is having a heated debate about what's more important value pricing or transactional pricing. As I'm not the expert, I need to know what to tell them. So, which is…
Price and brand are intricately connected. Both topics drive perceptions and customer behavior. As a business owner you need to understand how they influence what people do and what they're willing to pay. We need to understand why so many are willing to pay more for brands and what that…
A Pricing Strategy is the first step to setting your prices. More than that it will help you steer your business in the right direction and ensure that your pricing is setup to support your business objectives. Without one it's like playing the children's game pin the tail on the…
Often when clients come to me they believe that just because they are selling to different countries they HAVE to offer different prices. My answer is always..."It depends." This week on Live with the Pricing Lady I've got special guest Adelina Stefan. Adelina focuses on Career Coaching for Expats. She…
It's true employees don't automatically make the best entrepreneurs. There's a lot that needs to change in mindset, behavior and skills in order to make it work. It's also different when it comes to pricing and selling. For most it's painful at times, there's lots to learn and it's a…
Most business owners have war stories about when times were tough, when they took a risk and it didn't pay off. Money & pricing are often an areas that people struggle with for a long time in their business. There are things you can do to make sure that you're…
Wanting to serve others is a noble cause and what drives many practitioners to start their own business. It can also lead to conflict that's hurting your pricing. Many people in this area feel a conflict between making a good living wanting to help others. It get's in the way…
Knowing the profitability of you business is critical. As a new business you need to be able to test out your business model and understand what you can earn. Even if it's feasible to earn enough. As an existing or growing business you need to know if you're going to…
Coaches in general are pretty terrible at valuing themselves. Combine that with the fact that there are coaches who charge everything from 0 to 10's of thousands of dollars or more and it's easy to see why they struggyle to find the right price. It's important for you as a…
Typically when I talk with people about price setting there are two default approaches. Either "cost plus" (mostly product based businesses) or "versus the competition" (most often for services). Both ignore the customer and value. Good price setting will at least consider value. The best pricing is based primarily on…
Many businesses offer discounts. The question is are they communicating them in a way the enables them to hold the value of their offer? Or are they simply destroying the value of what they offer. In this show we'll take a look at how your discounting habits can destroy value…
