Sep 10, 2019
In this episode, Karen and Cadie are talking about pricing, more
specifically, value pricing versus hourly pricing. Pricing is one
of the hardest things entrepreneurs and businesses have to figure.
Karen explains the fundamentals of pricing and why value pricing is
a smart and profitable way to charge for your services or
products.
Key Takeaways:
- Value pricing It's not what you can charge, it's what you can prove that you're worth.
- Value pricing is not based on how long it takes you to do something, but rather, it's the perceived value of that service or product and the experience that went into that.
- Know your true business costs and formulate a value-priced range for your services and products.
Cheersables and Quotables:
You have to know what your costs are first, and then what
percentage you want on top of that. - Karen Simmons
If you ask me to negotiate my bill, I am devaluing myself. - Karen
Simmons
Find your pricing comfort zone that other people are willing to pay
for your value. - Karen Simmons
Value pricing is not based on how long it takes you to do
something, but rather, the perceived value of the product, service,
and the experience. - Cadie Gaut
Value pricing incorporates knowledge, excellence, tricks of the
trade, reliability, credibility, perception, what you give to
someone. - Karen Simmons
Value pricing is what you are giving to your customer and what
they're willing to pay just to work with you. It's the perception
of your value. - Karen Simmons
It's not what you can charge. It's what you can prove that you're
worth. - Cadie Gaut