Comments on: Is the Price Right? http://www.aspirekc.com/Blog/2007/10/25/is-the-price-right/ Bigger, Better, Business Mon, 06 Feb 2012 17:07:36 +0000 hourly 1 http://wordpress.org/?v= By: Direct Help from Business Developers » Are parts of your marketing a tough challenge? http://www.aspirekc.com/Blog/2007/10/25/is-the-price-right/comment-page-1/#comment-37 Direct Help from Business Developers » Are parts of your marketing a tough challenge? Sat, 27 Dec 2008 09:37:40 +0000 http://www.aspirekc.com/Blog/2007/10/25/is-the-price-right/#comment-37 [...] over product or service pricing is pretty common, but the group agreed that most of the time it’s a manufactured fear and [...] [...] over product or service pricing is pretty common, but the group agreed that most of the time it’s a manufactured fear and [...]

]]> By: Are parts of your marketing a tough challenge? | Aspiring Business http://www.aspirekc.com/Blog/2007/10/25/is-the-price-right/comment-page-1/#comment-36 Are parts of your marketing a tough challenge? | Aspiring Business Sat, 06 Dec 2008 00:08:01 +0000 http://www.aspirekc.com/Blog/2007/10/25/is-the-price-right/#comment-36 [...] over product or service pricing is pretty common, but the group agreed that most of the time it’s a manufactured fear and [...] [...] over product or service pricing is pretty common, but the group agreed that most of the time it’s a manufactured fear and [...]

]]> By: Shawn Kinkade http://www.aspirekc.com/Blog/2007/10/25/is-the-price-right/comment-page-1/#comment-35 Shawn Kinkade Sat, 03 Nov 2007 16:33:53 +0000 http://www.aspirekc.com/Blog/2007/10/25/is-the-price-right/#comment-35 Great Illustration Adam - thanks for sharing! Great Illustration Adam – thanks for sharing!

]]> By: Adam Sonnhalter http://www.aspirekc.com/Blog/2007/10/25/is-the-price-right/comment-page-1/#comment-34 Adam Sonnhalter Sat, 03 Nov 2007 11:10:15 +0000 http://www.aspirekc.com/Blog/2007/10/25/is-the-price-right/#comment-34 Shawn, Always an interesting topic of discussion with business owners. I agree about the irrational fears. These are ones we faced in our business early on, but once we gained the confidence in our process we've been able to more than double our prices in the last two years. From a story standpoint, we're having great success recently with a new client who provides a unique service in the sense that he helps create ambiance at events. Since he started the business he has been struggling with what price to charge and he's almost embarrassed to ask for more money. One of the first things we've worked with him on is to increase his asking price by at least 50%. The rationale we've used is that for the events he's part of, the cost of his service is minimal compared to the overall budget so a 50% increase won't even be noticed. Being a good client, he's taken our advice over the past couple of months and his average price per job has nearly doubled compared to where he's been historically. And he hasn't lost a job on price yet. In fact, anytime someone wants to negotiate his price, he now has some wiggle room and where he ends up is still significantly higher than where he was in the past. Bottom line, more profit for the same or less work. What a great way to work smarter vs. harder! -Adam Shawn,
Always an interesting topic of discussion with business owners. I agree about the irrational fears. These are ones we faced in our business early on, but once we gained the confidence in our process we’ve been able to more than double our prices in the last two years.

From a story standpoint, we’re having great success recently with a new client who provides a unique service in the sense that he helps create ambiance at events. Since he started the business he has been struggling with what price to charge and he’s almost embarrassed to ask for more money. One of the first things we’ve worked with him on is to increase his asking price by at least 50%. The rationale we’ve used is that for the events he’s part of, the cost of his service is minimal compared to the overall budget so a 50% increase won’t even be noticed. Being a good client, he’s taken our advice over the past couple of months and his average price per job has nearly doubled compared to where he’s been historically. And he hasn’t lost a job on price yet. In fact, anytime someone wants to negotiate his price, he now has some wiggle room and where he ends up is still significantly higher than where he was in the past. Bottom line, more profit for the same or less work. What a great way to work smarter vs. harder!
-Adam

]]>