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Top Tips & Thoughts
Pricing – a pain in the neck
by Janet Torley on 22/11/2012

I don’t really know about the sort of questions and issues that arise at other small business style Boardrooms / Peer group meetings and I suspect that there will be common themes of personal effectiveness, marketing, making enough profit……and so on.  So I thought I would share over a few short articles some of the surprises that I have personally learnt from along the way and hope they help you too!

Pricing high enough is something we all seem to be shy of.  I know even after years in business that it is one of the hardest areas to cover.  Never more so that now is these ultra cost conscious times when there is so much available for free.  So here are two very small steps if you don’t yet have confidence to actually raise your prices.

I  bet you actually discount your prices as the fear of losing the business is too frightening.  So why not just stop discounting your prices as a first step to seeing how much a potential client values your business.  If they are wanting you to deliver for next to nothing then they are probably a next to nothing client!  Walk away…………please…………

Pick your happiest client – you know the one you have had for ages and who you probably priced far too cheaply anyway  – the one who thinks you are truly wonderful and that you have total confidence that you are delivering a fabulous service – and let them know that after all these years you will have to raise their price.  Perhaps not to market level but respecting their much valued business that you are still offering them a serious discount on your 2013 prices.  Bet they don’t walk away – remember it is a lot of work to walk away and find a new supplier if you are delivering a fabulous service anyway.