Home – New Forums Starting your journey Pricing Strategies?

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  • #967898
    Lisa Murray – Biz Coach
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    I’ve recently changed my pricing strategy with great results for my business – improved cashflow, more clients and more profits! How does it get better than that? I’ve also had a client with an online retail business make major changes to their pricing strategy recently, with (so far) no loss to volume of sales and a much better margin. (Still testing and measuring this one, but interesting to see in a very price competitive industry!)

    These experiences started me thinking about how rarely soloists and small business owners review their pricing strategy in detail. So, I’m curious:

    • How did you originally come up with your pricing strategy?
    • When was the last time you reviewed your pricing strategy comprehensively?
    • If you have reviewed it, what was the catalyst for change and what results have you achieved?
    #1029579
    LeelaCosgrove
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    1. We work on a 10:1 value ration – so, we look at what we teach and ask ourselves “What could someone reasonably expect to make or save using our service?” – then we divide that number by 10. E.g. If we know you could make $100,000 we’d charge you $10,000.

    2. A couple of months ago actually!

    3. We doubled our prices across the board. The results? No drop off at all in event bookings – and twice as much money for the same amount of work = AWESOMENESS.

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