Terrific students attend the classes I teach. They ... ... that ... my ... ... When I teach a building a business ... class, I'm usually asked, "How doe
Terrific students attend the classes I teach. They ask
profound questions that "stretch" my knowledge and
resources. When I teach a building a business foundation
owner class, I'm usually asked, "How does someone price a
product or service?" During a recent class, I promised to
write down what's in my head and send it to the students.
And because of them, you now have it, too. In order to
keep things simple, I'll use "services" to mean both
services and products in the list below.
1. Locate a trade association, organization or networking
group whose specialty is your service. If none exists, find
an association with a similar product. In general,
associations can tell you the high-low and average prices
charged by members. You can find some organizations listed
in an article I wrote called "Network To Success". Find the
link at http://www.coachmaria.com/articles/ If you're a
coach, visit these coaching resources
http://www.coachmaria.com/business/coaching.html and virtual
assistants can start at
http://www.coachmaria.com/business/virtual.html
2. Trade/Business Journals and newspapers contain articles
that may include prices. At least once a year, I see an
article about my industry online or in a periodical that
contains industry fees.
3. Ask your CPA for some ideas; after all, they deal with
business owners’ finances all the time.
4. There are many career and employee guides that provide
industry or job related prices. You can view my favorite
resource, Occupational Handbook; online at
http://www.bls.gov/oco/home.htm You’ll also find this book
at your Library's career resources area. Also check the
Labor Department and Employment Security Commission for
resources and brochures that can assist you. 5. Obtain the
cost of raw materials and supplies necessary
for your product. Surely you want to charge more than it's
costing you for the items!
6. Many business owners place a pricing structure on their
websites. Using the industry name, plus the word "rate" or
"fees", you can find those sites on the Internet.
7. Determine your hourly rate. What is your time worth?
8. Call similar businesses, outside your local area, for
their prices. If you're not their competition, you have a
better chance to be told the score.
9. Visit stores that sell the product you're interested in
selling to determine their pricing system.
10. Ask everyone you know "if" and "what" they will pay for
"x".
11. Use your Ideal Client Profile (ICP)
http://www.coachmaria.com/ebooks/business2.html) to create
different pricing packages. The packages can differ in
length of time, products, and/or services. This way, you
can offer a variety of affordable pricing plans. Many
business owners who provide a service offer packages... from
coaches, to web designers to virtual assistants.
Developing An Ezine: For You If You Don't Enjoy Writing
Do you know that many business owners market their businesses by writing content for their online newsletters (e-zine)? And if you don't enjoy writing, the authors make those articles available to you.
10 Networking Myths For Newbies-To-Networking
It's a given, isn’t it? If you're in business, your number one job is to market. If you keep your business a secret - don't let people know how you can help make their lives better and what you do, you won't be successful - because no one will know that you're in business.
23 things to say when someone wants to
When you value your services and create boundaries; others will value your services, too. Remember, you're in business to earn a living and then live the way you've always dreamed of.
