I’ll be having a call later today with a pricing strategist with over 20 years of experience Susan Trivers and her impact based pricing strategy.
We will be talking about how we can schedule a workshop together to discuss pricing and the freedom it gives to scale, exit and ultimately succeed.
As Dan Kennedy tell us, nearly 90% of companies underprice for what they deliver.
And in Socratic Scaling, being able to stand out so you can price at the right level is the foundation to growing and building a business that gives you the life you want.
I’ll let you know when we have something firm scheduled but I wanted to touch on a couple of things quickly.
Many of this is common sense but often we forget or ignore it.
First, how and where you price tells us how confident you feel about the quality and effectiveness of what you sell.
If you promise to change my life but only want $20 for that…. I suspect something is wrong.. namely that your product or service doesn’t work.
Or there is some sort of catch.
The second is where you price determines everything else you can do.
How much you can invest to take care of your customers and get new ones
How much you can invest in making your solutions better or more upto date
When you price based on your competition, you commoditise yourself. You end up trying to race them going uphill and stuck in the wrong gear with the parking brake on.
Instead you want to stand out with what makes your customers care to only do business with you.
And then do more of it.
And price accordingly because they will not look for the cheapest when it comes to the transformation you can provide.
There’s a lot to say on this subject and we will over the next few weeks.
Just know.. you are not stuck with low and cutthroat pricing.
There is a way out – and It’s simple to understand – which we can bring up at the next Owner’s Table.
Sign up here if interested to attend.