Uncertain about your pricing?
Inflation creates instability - we become uncertain about our prices:
• are they too low (keeping up with inflation)?
Or,
• are they too high (because inflation has created a cost of living crisis resulting in people sitting on their wallets)?
So, what to do?
It's easy to become frozen in our uncertainty…I'd venture to say that the WHY of your business deserves better than that!
HOW TO SET YOUR PRICE:
Cost plus?
• if your value proposition is more/better, then you’re leaving $ on the table.
• if your price isn't going to deliver the cashflow needed, then does it fit you.What everyone else charges?
• Don't be a victim of the curse of the average. You may be better than most, so why should you be average?
• You also end-up getting lost in the crowd which only inflames the uncertainty and paralysis.
The first port of call is your Value Proposition – it needs to be doing the ‘heavy-lifting’ for your pricing.
Question: What value are you adding that is ‘hidden’ from your market?
For the next few weeks, we'll post a series of questions that can help you supercharge your Value Proposition...to give you your confidence back.