So, you have your business up and running. You have some products and services set up to offer to clients and prospects. <\/p>\n
Sometimes this is the part where you might begin to feel a little stuck, because you begin to wonder how to set your prices. <\/p>\n
Maybe you have a business where prices are already set, that\u2019s fine because then you don\u2019t have a choice \u2013 or maybe it\u2019s bad because you don\u2019t have a choice. More than likely you have a business where you need to really think about what you\u2019re going to charge your clients for what you\u2019re offering.<\/p>\n
Now, this might sound a little strange at first, but you\u2019re going to charge whatever you want for the products and services you have. It\u2019s your business – so you can do that. You might be thinking that sounds just a little crazy, but you have the freedom to set your own prices. <\/p>\n
Here\u2019s the thing, you can decide to charge prices that are on the high-end, the middle or the low-end of your industry. So, you\u2019ll have a tendency to look at what everybody else in your industry is charging. <\/p>\n
For example, if you sell a computer program or software, and it\u2019s similar to what some others are selling, you\u2019ll look at what they\u2019re charging for their software. Then, you\u2019ll more than likely decide whether or not you want to squeeze in with them and be in the midrange, or if you want to try and take all their customers by charging less, or if you want to stand out in the market place and charge more than they\u2019re charging. <\/p>\n
You get to make those decisions. There\u2019s nothing wrong with being on the high-end. There\u2019s nothing wrong with being on the low-end. And if you want to be average, if you want to fit in with everyone else, by all means, that\u2019s your choice to do that too. <\/p>\n
If you\u2019re going to be on the high-end, you\u2019ll want to decide what sets you apart. What\u2019s the value of what you\u2019re selling over the value your competition is offering? <\/p>\n
Value is the key to setting prices in the range you see fit as opposed to feeling like you have to fit in with everyone else. If what you\u2019re selling has less value, or no additional value, than what your competition is selling then you can expect to run into some problems or challenges if you\u2019re trying to sell in a different price range than they are.<\/p>\n
Here\u2019s something else, though, it\u2019s your business, and you have the freedom to change your prices. You can test and adjust your prices until you get the results you\u2019re after. That might mean you have to add a bonus or take away a bonus \u2013 just keep modifying and changing what you\u2019re offering until you get the results you want.<\/p>\n
Your prices will change based on a variety of factors like the economy, current trends, the need for what you have and even your clients. You have clients who will drop thousands of dollars on things and not give it a second thought and you also have clients who won\u2019t spend hardly anything, and everything in between. So you\u2019ll have to test and modify, and test again, until you find the amount your clients are willing to invest. <\/p>\n
There\u2019s no perfect formula for setting prices. It\u2019s your business, so you can charge whatever you want. But you do have to be willing to test and modify, and change prices when your business and clients tell you to. <\/p>\n","protected":false},"excerpt":{"rendered":"
So, you have your business up and running. You have some products and services set up to offer to clients and prospects. Sometimes this is the part where you might begin to feel a little stuck, because you begin to wonder how to set your prices. Maybe you have a business where prices are already…<\/p>\n