Logo

    5 Pricing Best Practices for Your Small Business in 2022 and Beyond

    en-usJuly 04, 2022
    What was the main topic of the podcast episode?
    Summarise the key points discussed in the episode?
    Were there any notable quotes or insights from the speakers?
    Which popular books were mentioned in this episode?
    Were there any points particularly controversial or thought-provoking discussed in the episode?
    Were any current events or trending topics addressed in the episode?

    About this Episode

    What are the things that businesses do well to improve their pricing? That's a great question. I often speak about the mistakes people make but this time I wanted to focus on what you can and should be doing with pricing to help you. We are in unprecedented times, things are changing so fast around us we can example after example of how those who are most adaptable are the ones who come out on top.

    Looking at best practices in pricing can help you make sure you're focusing on the right things and taking the best actions at the right time. These are just a few of the pricing best practices that small businesses can use. They are also in my experience the most important.

    That's why in this Solocast episode we are taking a look at the 5 Pricing Best Practices for Your Small Business in 2022 and Beyond. Let's make sure you're getting it right sooner rather than later.

    Podcast Highlights:

    • 0:00 Intro
    • 2:12 Pricing Must be Aligned
    • 4:38 Pricing Segmentation is Your Friend
    • 7:42 Pricing Must be related to the Value you Deliver
    • 10:01 Reality of Value Communication
    • 11:22 Pricing Needs to be Fair
    • 12:58 Your Prices Need to Change
    • 15:30 Wrapping It Up


    *********

    Reach Out, Connect or Book a Call with Janene

    Get started improving your business.
    Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

    Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

    Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. Book a complimentary Discovery Call today! (www.thepricinglady.com/book-a-call)

    Recent Episodes from Live with The Pricing Lady, the Podcast

    The Challenges of Pricing Your Own Services

    The Challenges of Pricing Your Own Services

    In this episode of ‘Live with The Pricing Lady,’ I’m joined by guest, Anthony Kuo, a seasoned career satisfaction coach and former pricing expert. Together, we embark on an illuminating exploration of Anthony’s transition from pricing pro in the corporate world to entrepreneurship, delving into the challenges he encountered while pricing his own services. And he shares what he’s observed working with clients.

    We uncover the key of finding intrinsic value in one’s profession and the inherent value that clients seek in return. Through our discussion, you’ll discover invaluable insights and effective strategies for navigating the intricacies of pricing, overcoming obstacles, and building the skill you need to be more successful.

    From Anthony’s personal journey to actionable advice for professionals in any field, this episode is a testament to the transformative power of aligning passion with purpose and understanding the dynamic interplay between value perception and pricing. Don’t miss out on this enriching conversation – listen and learn more about how to face the challenges of pricing your own services.


    About this Episode's Guest

    Anthony Kuo’s journey is a compelling testament to the distinction between proficiency and passion. After thriving in the corporate world, he realized his soul was unfulfilled. Now, as a Career Satisfaction Coach and creator of Untamed Career, Anthony helps professionals rediscover their true vocational aspirations. Join us as we explore Anthony’s transformative journey and glean insights into crafting careers that align with authentic fulfillment.

    How to Reach Anthony:

    LinkedIn: https://www.linkedin.com/in/untamedcareer/
    Facebook: https://www.facebook.com/anthony.c.kuo

    What to Listen out for:

    • 00:00 Intro
    • 01:22 Getting to Know Anthony
    • 03:08 From Pricing Expert to Career Satisfaction Coach
    • 05:43 Challenges of Pricing Personal Services
    • 08:28 Learning to Value Your Work
    • 13:41 Applying Pricing Knowledge to Career Satisfaction Coaching
    • 18:07 Marketing and Customer Insight
    • 24:28 Overcoming Pricing Mindset Challenges
    • 28:39 Final Thoughts


    Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

    *********

    Reach Out, Connect or Book a Call with Janene

    Get started improving your business.
    Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

    Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

    Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. 

    3 Essential Price Setting Tips for Beginners

    3 Essential Price Setting Tips for Beginners

    Hey there, fellow entrepreneurs! Are you ready for some price setting tips?

    Starting a business is like embarking on an epic voyage, full of excitement and endless possibilities. But when it comes to pricing your products or services, it can feel like sailing into uncharted territory. If you’re nodding along, feeling like you’re in the same boat, you’re not alone.

    Chances are, you’re more familiar with the role of a consumer than a pricing guru. You’ve seen businesses use all sorts of strategies, but deciphering how they arrived at those price points or why they’ve used that strategy or if it’s even worked for them, that’s a whole different story.

    You’ve likely already done your homework, having looked at costs and scoped out the competition. And while those things are important pieces of the determining what prices to offer, they in fact are not where you should begin.


    About this Episode

    In this episode, I’m sharing three simple price setting tips that’ll help you get started setting your prices in a better way. When you “flip the script” on how you go about setting prices you make it easier to feel confident about what you charge. And you put yourself in a better position to set prices that fit you and your clients. Whether you’re feeling lost, overwhelmed or just curious these insights will be your guiding light.

    Listen in as I break down three simple tips that help you build the right prices from your customers and your business needs, rather than what everyone else is doing. Trust me, pricing doesn’t have to give you a headache. You should feel jolt of expansive excitement about how pricing helps you reach your business goals.

    Let’s tackle it together and pave the way for prices that not only work for your business but also leave you feeling confident and empowered. Ready to get started? Let’s do this!

    What to Listen out for:

    • 0:00 Intro
    • 01:14 The Importance of Starting Point in Pricing
    • 02:38 The Role of Customer in Pricing
    • 05:00 Aligning Business Goals with Pricing
    • 06:47 The Impact of Mindset on Pricing
    • 08:16 Revisiting the Three Key Factors in Pricing
    • 11:04 Practical Tips for Clear Mindset in Pricing
    • 12:00 Upcoming Masterclass and Courses
    • 13:36 Final Thoughts


    Episode Links:

    The next Pop-Up Pricing Masterclass is on March 5th and we'll be focusing on Understanding Profit.  https://thepricinglady.thrivecart.com/profit-mc/

    The Customer Compass (previously the Customer Value Challenge):  https://thepricinglady.com/thecustomercompass

    Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

    *********

    Reach Out, Connect or Book a Call with Janene

    Get started improving your business.
    Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

    Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

    Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently cha

    The Importance of Decoupling Self-worth from Your Pricing

    The Importance of Decoupling Self-worth from Your Pricing

    "I had a plan and a strategy for setting my prices. It felt like I knew what to do but it just wasn't working. I got no where. I realized the connection I had created between my self-worth and my prices. It was time to start decoupling my self-worth from my prices."  

    Does that sound familiar to you?

    If so you, my friend, are not alone. It's easy to think of pricing as the logical, cold and calculated (no pun intended) thing. But the reality is your mindset gets in the way. You can know every pricing trick in the book but if you believe you are not worthy on some level, it just won't work because you won't believe it. It's up to you to starting decoupling self-worth from what you charge, failure to do so only holds you back. 

    Those thoughts and doubts will permeate everything you do, what you choose not to do and how you go about doing it. I've said it many times before but having your own business is a self-discovery journey and you're about to hear how one woman realized her own sense of self-worth was getting in the way of her dreams.

    About this Episode's Guest

    In this episode, I've got special guest Aya Ghosh. She's a Consciousness Coach and helps people find their purpose, fulfilment, and joy instead of being stuck in pain, suffering, or negative experiences. She shares with us how the realization that her mindset was influencing what she charged came about, As well as the steps she's had to take to free herself from tying her self-worth to her pricing. Let's help you get your mindset in the right place enjoy the episode.

    Don't have time right now to listen, scroll down for the episode overview. 

    How to Reach Aya:

    LinkedIn: https://www.linkedin.com/in/aya-transformation/
    Website: https://www.ayatransformation.com/

    What to Listen out for:

    • 00:00 Intro
    • 01:23 Getting to Know Aya
    • 02:35 Journey into Consciousness Coaching
    • 03:20 The Challenges of Pricing in Business
    • 04:48 Overcoming Self-Worth Issues in Pricing
    • 05:32 The Impact of Personal Beliefs on Business
    • 07:25 The Emotional Connection to Pricing
    • 10:24 The Struggle of Pricing Services
    • 14:18 Overcoming Needy Energy in Business
    • 16:14 Final Thoughts


    Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

    *********

    Reach Out, Connect or Book a Call with Janene

    Get started improving your business.
    Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

    Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

    Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. 

    The Power of Customer Experience in Pricing

    The Power of Customer Experience in Pricing

    On this episode of ‘Live with The Pricing Lady,’ I’m joined by the incredible Ghizlane Arifine, a true guru in Customer Experience. Together, we’re diving deep into the magical connection between the customers experience and the art of creating a great pricing strategy. Ghizlane reminds us of the pure gold in understanding the customer’s viewpoint, walking with them hand-in-hand through every twist of their purchasing journey.

    Join us as we dive into value-based pricing, where we explore how tuning into customer behavior and expectations can be the secret sauce to building the right pricing strategies.

    With a focus on small businesses, we explore the importance of knowing what your customers want, curating those personalized experiences, and tapping into those customer insights to sculpt pricing strategies that work. We’ll also break down the ‘customer’ versus ‘user’ dynamic, uncovering how these roles influence purchasing decisions.

    At its core, this episode is dedicated to the importance of understanding your customers and building an experience that fits them. It’s all about aligning your pricing strategy with the unique rhythm of your customers and the big dreams of your business. Join us for this amazing conversation – you won’t want to miss it!

    More About this Episode's Guest

    Dr. Ghizlane Arifine has over 12 years of dedicated engagement with organizations enhancing their customer experience standards and implementing successful marketing strategies. Ghizlane brings a wealth of expertise and knowledge on this very important topic.

    With over 12 years of dedicated engagement with organizations, she has been instrumental in enhancing the experience they deliver customers and implementing successful marketing strategies. Guided by her curiosity for and eagerness to deliver superior customer experiences, she serves as a lecturer, imparting knowledge in customer loyalty and behavior. Simultaneously, she is a CX/UX practitioner, actively developing and executing CX programs for companies.

    How to Reach Ghizlane:

    Instagram: https://www.instagram.com/xperience_metrics/
    LinkedIn: https://www.linkedin.com/company/xperiencemetrics/

    What to Listen out for:

    • 00:00 Intro
    • 01:31 Understanding the Importance of Customer Experience
    • 02:02 Getting to Know Ghizlane
    • 03:42 The Journey of Starting a Business
    • 05:52 Defining Customer and User Experience
    • 08:26 The Impact on Value Perception
    • 12:35 Risks for Small Businesses
    • 16:27 Understanding Customers for Better Business Decisions
    • 22:13 Advice for Startups and Small Businesses
    • 27:15 Final Thoughts


    *********

    Reach Out, Connect or Book a Call with Janene

    Get started improving your business.
    Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

    Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

    Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. 

    Pricing Trends for Small Businesses in 2024

    Pricing Trends for Small Businesses in 2024

    Do you know what pricing trends to expect in 2024?

    As we begin the new year, it’s a good time to take a look at what’s been happening and where things are headed.

    People often mistake pricing as a “one-and-done” activity. The reality is that if your prices aren’t changing, then you’re no longer aligned with the market. Meaning you’re under or over priced. The consequences of that are many, most remarkably lower sales and profits. Ouch!

    That’s no way to start a new year.

    To avoid finding yourself in this situation, take a step back and look at where things are in the world – in your market, in your business, and in your pricing. To help you with that, I’ve put together some research and my own insights to help you get started. Let’s kick the year off with a look at Pricing Trends for 2024.

    In This Episode:

    In the past few years, we have seen a lot of fast-paced change.

    As you consider your pricing strategy and what to do it’s good to take a look at where have things landed and what does it mean in terms of how people behave when they make purchases. That’s where we start our discussion, with a look at the “state of affairs”.

    Then we turn towards upcoming trends in pricing, as an indication of what you might expect in the year to come. And last, my recommendations on what you might focus your attention to get ahead.

    Enjoy the episode.

    Podcast Highlights

    • 0:00 Intro
    • 2:08 2024 Preview
    • 5:27 Navigating Global Trends
    • 8:34 Pricing Amidst Market Shifts
    • 12:21 Beyond Price Wars
    • 14:56 Pricing Trends
    • 23:38 Strategic Pricing in 2024
    • 26:37 Wrapping it Up


    Episode Links:

    NIQ 2023 Mid Year Outlook Survey: https://nielseniq.com/global/en/insights/analysis/2023/5-cost-of-living-trends-to-know/

    Check out the next Price Point Event full details at: https://thepricinglady.com/thepricepoint

    The next cohort of The Fair Price Formula Part 1 - Price Setting starts January 26th. Register at www.thepricinglady.com/setmyprices

    The Customer Compass (previously the Customer Value Challenge) is coming in February.

    The next Pop-Up Pricing Masterclass is on March 5th and we'll be focusing on Understanding Profit.  https://thepricinglady.thrivecart.com/profit-mc/

    Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

    *********

    Reach Out, Connect or Book a Call with Janene

    Get started improving your business.
    Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

    Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

    Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. 

    3 Things You Must Do When Planning Price Increases

    3 Things You Must Do When Planning Price Increases

    Ever wondered what key steps businesses often overlook when they're raising their prices?

    In this episode, we'll take you through three critical aspects of pricing that businesses frequently overlook when adjusting their prices. Whether you're considering raising or lowering your prices, it's easy to overlook these things. Often people are afraid to change prices especially raise them and postpone it as long as possible. When they finally do it they take big risks by applying a "rip off the bandaid" approach. Trying to get it done before they panic and decide not to. In that process, they skip some really important steps that help the increase be more successful.

    I'll break down the misconceptions and offer practical advice on how you can do this more effectively.

    Discover the power of differentiation – why it's essential to vary price increases across your offerings, rather than applying a uniform rate. Learn how mastering the math behind pricing can give you the confidence you need to make informed decisions. And we'll look at price communication – when to make clear communications and when a subtler approach is more suitable.

    Enjoy the episode. Don't miss out on the knowledge and strategies that can reshape your business's future.

    Podcast Highlights

    • 0:00 Intro
    • 1:54 Overcoming Fear and Taking Strategic Steps
    • 5:15 The Critical Role of Pricing Math
    • 8:24 Knowing When and How to Share Changes
    • 10:21 Wrapping it Up


    Episode Links

    LinkedIn Article: The Boulder of Pricing Inaction
    Tool Recommendation: Pricing Tool Kit

    Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

    *********

    Reach Out, Connect or Book a Call with Janene

    Get started improving your business.
    Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

    Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

    Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. Book a complimentary Discovery Call today! (www.thepricinglady.com/book-a-call)

    Should I Offer Black Friday Deals

    Should I Offer Black Friday Deals

    A few years ago I got an email from a client asking me to review "the attached" document. I opened it up to find a list of discounts and special offers she planned to make throughout the year. As I looked at the list my heart sank - each and every one was carefully thought out in terms of what the client was getting. But no thought had been put into whether or not they were a good business idea.

    I called and spoke to her about it. Asking her what the business purpose and goal were for each one. Part way through our discussion it dawned on her and she said, "Janene, from what you're asking me I think I see what you're getting at. I did this because it's what I see others doing. You're asking me to also look at what it means and if it's right for my business. Right?"

    She got it!

    As the holiday season approaches, businesses often contemplate the idea of offering Black Friday discounts to lure in customers. It seems like everyone else is doing it. But is this strategy right for your business?

    Join me as I explore the origins of Black Friday, its evolution into a global phenomenon, and the critical questions you should ask yourself before diving into the discount frenzy.

    In This Episode:

    We'll look at the importance of aligning Black Friday deals with your brand values, understanding your target customer's expectations, and whether following the competition is a wise choice. Plus, how important is it to ensure that special deals and offers have a real business purpose that you can track. Without that you're just discounting for no reason and giving money away.

    Deciding whether or not to offer Black Friday deals, is a strategic business move. Listening to this episode gives you the tools and insights to make an informed choice that aligns with you, your business and your customers and helps you achieve your business goals.

    Tune in as I help you navigate the intricate world of pricing and business strategy.

    Podcast Highlights

    • 0:00 Intro
    • 2:24 Decoding Origins and Tactics
    • 5:12 Brand-Aligned Black Friday
    • 8:29 Competitor Caution: Business Sense
    • 11:23 Volume, Profit, Math Mastery
    • 13:21 Wrapping it Up

    Episode Links:

    Pricing Tool Kit: https://thepricinglady.com/goodies 

    Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

    *********

    Reach Out, Connect or Book a Call with Janene

    Get started improving your business.
    Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

    Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

    Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. Book a complimentary Discovery Call today! (www.thepricinglady.com/book-a-call)

    From Vine to Wallet: Navigating Wine & Spirits Pricing

    From Vine to Wallet: Navigating Wine & Spirits Pricing

    Have you ever looked at a bottle of wine and thought "Whoa. Ouch that's pretty pricey!" Most of us have. Of course there are wines at all price levels but what really goes into the pricing of your favorite wine - that's what I wanted to know.

    One of the things that I love about what I do is that through helping businesses with their pricing I've been able to learn a lot about many different industries and about what goes into the making of that product, software or service. I enjoy learning new things and understanding why or how they work. I'm that annoying person at the eye doctor who asks what all the different machines do. Ha!

    And when it comes to understanding what price to set for something, understanding what's behind the business is an important part of the process. And while cost to produce isn't the only driver of price understanding what goes into production at least at a high level is pretty important to your pricing.

    Both as a business owner and as a consumer a big part of the value you get from something that you buy is related to what goes into it. And having worked in the agricultural industry for a while I had the opportunity to visit vineyards and understand wine production more. I'm not an expert by any means but I do have a much bigger appreciation.

    So I ask questions like...

    What goes into the pricing of a bottle of wine?
    What are the differences between the most and the least expensive?
    How does production or distribution impact the pricing?

    You've probably wondered about it yourself. And if you're a startup or business that has to set prices for wine then the biggest question you've probably got is "How do I find the right price?"

    You're in luck I've got just the lady for you.

    In this Episode:

    This time I've brought on a guest who is an expert in all things wine and spirits-related. Ruchira Neotia, owner of Neo Margarita Ltd., is a London-based drinks professional with a passion for the art of crafting exquisite drink experiences - across wine, spirits and saké. At the heart of Ruchira's expertise is her talent for creating harmonious connections between food and beverages. As a consultant, she excels at developing optimized drink lists for restaurants that perfectly complement the culinary offerings, enhancing the overall dining experience.

    She comes on the show to help us navigate from vine to wallet wine and spirits pricing. Ruchira shares with us some real insights into what we are paying for as well as some great tips for those who have to set prices for wine and spirits in their business.

    Enjoy the episode!

    Podcast Highlights:

    • 0:00 Intro
    • 1:35 Meet Ruchira
    • 3:02 What does her business offers
    • 5:11 How the Process influence the Pricing
    • 10:31 Exploring the Complex World of Wine Importing and Production
    • 14:54 How Margins, Volume, and Customer Experience Come into Play
    • 24:04 Sustainable Practices and Wine Pricing
    • 28:35 Pricing Spirits vs. Wine
    • 35:56 Striking a Balance
    • 40:55 Today's takeaway & Wrap up

    How to reach Ruchira:

    Instagram: https://www.instagram.com/ruchneo/
    LinkedIn: https://www.linkedin.com/in/ruchiraneotia/

    *********

    Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

    Apologetic pricing – looking back, this was my pricing strategy

    Apologetic pricing – looking back, this was my pricing strategy

    Welcome to another insightful episode of Live with The Pricing Lady.

    Apologetic pricing - a pricing strategy whereby your price reflects your thinking that  "Dear Customer, I'm sorry that I need to charge you for buying my product, service or software". There's an  embedded "apology discount" factored into your prices.

    Does this strategy sound familiar to you?

    For most people feeling unsure about your prices is normal, but other people can take those negative feelings to an entirely new level. As this episodes guest put it she felt guilty about charging clients for what she offered and not only did it impact her pricing, but her communication and everything she did in her business. Ultimately it also had an impact on the bottom line.

    Don't fret if this sounds familiar to you Mandy Bronsil, founder of B-inspired shares with us what she had to do to "break free" from that thinking and set herself up for success. Mandy talks about starting her business shortly before Covid hit and how that impacted what she had to do and the direction her business took.

    All that and so much more, enjoy!

    Podcast Highlights

    • 0:00 Intro
    • 1:17 Meet Mandy
    • 4:56 Why & how she started her business
    • 7:38 The first time pricing her offer
    • 9:50 Needing to shift the business
    • 12:55 Overcoming setbacks and challenges
    • 15:45 The importance of boundaries
    • 21:56 Today's takeaway & wrap up

    How to reach Mandy:

    LinkedIn: https://www.linkedin.com/in/mandybronsil/

    Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

    *********

    Reach Out, Connect or Book a Call with Janene

    Get started improving your business.
    Sometimes it’s difficult to know where to begin. I suggest you download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

    Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

    Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. Book a complimentary Discovery Call today! (www.thepricinglady.com/book-a-call)

    Flexible Pricing: How easy-going should your pricing strategy be?

    Flexible Pricing: How easy-going should your pricing strategy be?

    Do you find yourself wondering how flexible your pricing should be?

    In the world of business, pricing isn't merely a numbers game—it's an art of balance. And finding that delicate balance between flexibility and complexity can make or break your business.

    On the one hand it's great to try and meet the specific needs of each individual client, as each one is unique. But flexibility isn't always the best thing for you, your business or your customers. It's more complex a decision than just meeting the customers needs - it's more strategic that.

    And hold on, what about the downsides of working in this way? How does it impact your ways of working in your own business? And what downsides are there for clients? Yes, there are some.

    Well if you've asked yourself these questions, you're in the right place.

    In This Episode:

    In this episode of Live with The Pricing Lady,  we'll explore what you should consider when you're deciding the appropriate level of pricing flexibility in your business. Here's a glimpse of what you can expect to discover:  

    We look at the:

    • The Advantages: Learn how pricing flexibility can lead to tailored solutions, scalability, and agility in meeting your customers' unique needs.
    • The Trade-Offs: Explore the downsides of pricing flexibility, including customer confusion, perceptions of unfairness, and profit erosion.
    • Actionable Strategies: I share practical tips to help you strike the right balance in your pricing approach. From segmentation and clear tiers to modular pricing and value-based flexibility, there are several options to help you choose the level of and mitigate the downsides of flexibility.

    Whether you're new to the business world or a seasoned pro, this episode will help you think through this important aspect of your pricing strategy.

    Podcast Highlights

    • 0:00 Intro
    • 2:41 Advantages of Flexible Pricing
    • 4:12 Trade Offs that come from Flexible Pricing
    • 8:19 Effective Pricing Strategies
    • 14:02 Transparency and Simplicity
    • 16:02 Wrapping it Up


    Episode Links

    Join The Fair Price Formula (https://thepricinglady.com/setmyprices) group program and learn how to set prices for your business with more confidence.

    Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

    *********

    Reach Out, Connect or Book a Call with Janene

    Get started improving your business.
    Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

    Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

    Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. Book a complimentary Discovery Call today! (www.thepricinglady.com/book-a-call)

    Logo

    © 2024 Podcastworld. All rights reserved

    Stay up to date

    For any inquiries, please email us at hello@podcastworld.io