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Are Your Prices Making a Profit? Pricing Strategies
Manage episode 406497195 series 3448465
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For any business to be profitable, services must be priced appropriately. Business owners need to regularly set profit margin goals and adjust pricing accordingly.
In this episode, I break down cost-based and value-based pricing, and tips for competitive prices that keep clients happy and revenue goals on target.
In this episode, you’ll also hear:
- Covering costs and profit margin
- Advantages of value-based pricing
- When to change your pricing strategy
Must-listen moments:
[00:00:38] We think if we do more sales, we'll be profitable. But if you haven't priced your services correctly, no amount of sales is going to make you profitable.
[00:06:26] Your knowledge comes from years and years of experience and should not be set at an hourly rate. That doesn't cover all the education, all the training you've done, but value-based pricing would cover that.
[00:08:49] The right pricing strategy is clearly based on industry, your target market, and unique value proposition that your services bring.
Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com
Reach out to Alisa: Alisa@firststepsfinancial.com
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Credit:
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