My relationship with pricing in my own business has been a rollercoaster over the years, and I’ve come to realise that I’m not alone here.
What to charge is always a difficult decision when pricing your services.
Do you take a percentage or charge a flat fee? There are so many ways to go about it depending on the industry you’re in and where you sit in the market.
As business owners and service providers, it is so important to price your services correctly – it really can make or break your business.
More recently I’ve found light at the end of the tunnel and thought I’d share it,
here are a few tips to help…
Know the benchmark
Do your research and know what your competitors are charging for their services and what they offer, and then decide where you sit or where you’d like to sit compared to the competition.
Find your Niche… Identify your ‘edge’
Think about the things that set you aside from your competition and what your core strengths are. Fine-tuning your niche will help you determine who your customer is and be able to fulfill their needs.
Be an expert
If you are an expert, clients are more likely to trust you, be loyal and willing to pay a little more for your services.
Being an expert doesn’t mean you need to know everything there is to know in your field, it’s about valuing what you know and sharing it with your customers, these days information is currency.
Embrace the expert status and you’ll find a welcomed shift in your pricing confidence
Confidence in pricing is a state of mind. Get used to saying how much your services cost out loud until you feel comfortable. Exude authority, state facts and be clear and confident in your delivery.
The results you’ll find are customers wanting to leave their business and money in your expert hands. It works for me, I hope it works for you!
Marie Cruz-de Vera
Founder of The Style Co. / Co-founder of League of Extraordinary Women