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Check out this insightful article from Eva Tang about a topic every entrepreneur struggles with. Eva leads marketing at Practice.
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Pricing can be such a tricky topic, especially when you’re pricing something for the first time.
A few questions for you to consider when thinking about pricing:
The thing that people don’t tell you is that a pricing strategy is more about psychology (yours and your clients) than it is about finance.
Let’s get the finance part out of the way first, and then we’ll move on to psychology.
Let’s get the brass taxes (pun intended) out of the way. How do you figure out the actual price of your services, the cadence, and then how to make sure it’s all neat and tidy come tax season?
As we alluded to earlier, this will be the harder of the two pieces in pricing your services. Asking for money is one of the hardest things people run up against when it comes to building a business, so let’s respect that and then make an action plan.
Pricing your services well is key to a sustainable business, for you and your family, so make sure you account for the nuts and bolts of it as well as the psychological aspects. You can do it, and once you’ve asked for the first payment, every one after that will feel significantly easier.
If you’re interested in making your business life a lot simpler, we’ve partnered with Practice for this post. Practice is client management software for businesses of one – think coaches, consultants, even dog trainers. They help you manage all the administrative pieces under one roof, because you don’t have the time to try and tape it all together.
Do you find it challenging to hold yourself accountable? If so, working with others can help you crush your business goals one by one. Snag a membership at The Founding Moms today.
Eva leads marketing at Practice. In her spare time, she fosters, boards and trains dogs through Eva Trains Dogs.
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