This is a question that you should be able to answer in order to lay the foundation for your business. Your path to growth and longevity.
The easy answer to most when asked this question is $1,000. However, there are factors to consider when making the choice of pricing for your product/service.
Are you in a stage of your business where you can afford to have a longer sales process? If yes then continue with looking at higher ticketed pricing.
If you need the sales to cover the business expenses that you’re paying out of pocket. You may want to consider going for volume and referrals over one-off sales.
One of the things that I review with the clients that I partner with on projects and pricing strategies. Where are you now and how can we get you to where you want to be?
You’re not locked into a pricing structure or way of doing business. You are allowed to evolve. In fact, it’s mandatory to have success and longevity in business. There will be times where adjustments have to be made and you pivot as a business.
Evaluate where you are and what will allow you to run your business now. Plan for how you can implement new products & services in phases that will allow you to grow. This is something that existing customers not only come to appreciate and expect. It is something they’ll see the value in and be willing to pay more for because they’re familiar with your business and the level of support provided.
Food for thought. If you have any questions or want to talk through this further you can book a free consultation
