Experiment With Your Prices

Earlier today I hopped on an easy-going networking session.

One of the other chaps there was a web designer, and we had a little chat about pricing. He shared his current prices—£25 per webpage.

This person was running a lifestyle business, and seemed happy with it. I don’t think there are any real rights or wrongs in setting your prices. If you’re content with yours, that’s great. 

The thing is, the rest of us rarely know what we’re missing. We can’t see into the future, or know what would’ve happened if we’d done things differently in the past.

Here’s an idea I’ve shared in the recent past: Experiment with your prices. I borrowed this from Jonathan Stark, who (I think) was inspired by someone else. 

To join Jonathan’s 5th run-through of his Pricing Seminar I paid $245. A few months after it finished, he launched it again for the 6th time. And the price?

$1,250. (If memory serves).

Even if 80% less people signed up, he’d still make roughly as much money. And if less sign up, he has less work to do. Yes, ‘work less, earn more’ is a cliché—but cliché’s are often rooted in truth.

Nothing is set in stone—not your business, or the prices you charge. 

 


Quote Of The Moment:

‘You started your business, I suspect, for two reasons. First, to do something you love. And second, for financial freedom. You did it for some degree of wealth. You did it to put profit in your pocket.’

From Profit First by Mike Michalowicz


 
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