It’s about basing your pricing strategy on what YOUR target customers are willing to pay for the VALUE that YOU bring to them.
Because – especially once you’ve been running your business for a while, and selling your packaged solutions, successfully, for some time – you may well find you’re able to offer even MORE. You may well be able to help MORE clients, solve MORE problems, and as a result … have an even MORE profitable business.
Offer something unique, offer something “extra”, offer something that adds even more VALUE, and you’ll immediately be standing out against the other service providers your potential client might be considering.
More often than not, if people haven’t come looking for YOU, it’s because they’re not READY yet. Maybe they’re not ready because they don’t yet need it ENOUGH … which means they won’t VALUE what you’re able to offer as much.
So before you try to adapt you to suit your client … think about whether you should perhaps adapt your client to suit your service. Because chances are, you already offer EXACTLY what someone needs … you’re just offering it to the wrong people.
Hands up if you’ve ever replied to someone querying how “work is going” with something along the lines of “Good thanks … busy!” Thought so. Because for some reason our society has gradually associated “busy” with “good”.
The main reason pricing strategy is usually a problem … when they first come to me … is because they are stuck in that age-old belief that they have to charge based on their TIME. Whereas, in reality, they need to be charging based on their VALUE.
Maybe it’s worth taking the risk. It’s time to stop sitting at the roundabout, wishing you had the courage to go round it, and instead to just GO …
So maybe we need to revert to our more childlike attitude … perhaps we need to go and touch that hot plate, every now and then, to see if that “truth” is indeed true … or at least, to find out if it is true for US.
They’re paying me for the all the times before … all those times I spent practising and perfecting it, so that I COULD produce the perfect dish in just 45 minutes. Yet, if I was charging by the hour, my rate would need to be CONSIDERABLY higher at my 100th time, to reflect the TRUE value they are getting from the short 45 minutes I spend making it.