Jazz is starting a business. She’s done her market research, she knows who her ideal customer is, and she’s decided on the first thing she wants to offer.
There’s just one sticking point: how to price it.
She has settled on a price, but it doesn’t feel quite right.
She’s not alone in thinking this; when she mentioned the price to a few friends, they raised their eyebrows and told her she’s undercharging.
But she’s terrified of raising the price and putting people off. She thinks she should focus on quantity over profit so that she can break into the market.
You might relate to this…
- Do you start to panic when someone asks you how much your product or service costs?
- Do you immediately drop your price if a potential customer says they can’t afford it?
- Did you price your offer so low that you’re barely breaking even or operating at a loss?
- Or worse yet, do you even know?Continue Reading