Are You Pricing for Profit?
“If you're underpricing because you're trying to get more people to buy, you are literally going to get the bargain hunters, and bargain hunters have no loyalty.”
- Shelagh Cummins
Are you pricing your offers to pay the bills, or for profit? Many of the entrepreneurs that I work with find it incredibly challenging to properly price their offers, and end up making financial decisions for today, that leave money on the table for tomorrow.
The reality is, not monitoring and knowing and understanding your numbers is actually impacting the growth of your company. Because you're either overspending, underspending, or you're just not making strategic decisions that are going to help you grow.
Pricing too low is one of the biggest mistakes I see entrepreneurs make, because it is expensive to run a business. So in this episode of The Road To Seven podcast, I’m going to share with you a practical, step-by-step process to price your offers properly, so that you get more profit out of your business.
In this episode of the Road to Seven podcast, you’ll discover:
What the biggest pricing mistakes entrepreneurs make are
My pricing strategies
How to future-proof your business through pricing
Highlights:
00:00 Intro
01:23 Pricing for profit
01:57 The biggest mistakes entrepreneurs make
09:05 Base your pricing on future needs
11:02 Pricing is not randomly generated
12:46 Perceived value
14:57 Pricing strategy
23:56 You get to choose your business
27:55 Wrapping up
Links:
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