Pricing: The Art and Science Behind Setting the Right Value

Pricing is just one piece of a big puzzle.

It is an art.

Your price transparently shares the value YOU believe it is worth. Your aligned client will find you. There are a lot of factors to consider: market rate, cost of service, ROI provided, supply & demand, experience or quality, competition, etc.

💰 You need to know your customer. You need to determine WHO your customer is — what their pain points and true needs are. Once you know your niche customer and offer/product, the pricing game begins.

💰 If you price too high too early, you yourself will not believe the value and thus, neither will your desired client.

💰 Do not double or triple rates overnight. Do it gradually; test the market, ensure you’re confident sharing the price, feel it out a bit.

💰 Do not offer discounts. Ever. Instead, you can offer a flexible payment plan or something off the shelf at a lower rate.

💰 There will inevitably be an offering/product that is valuable to others that drains you/doesn’t bring you joy. Eliminate it or triple that price. They will still come, and you will now feel valued when providing it.

My advice — niche down enough in a specific market and provide several price points that cater to different needs.

A big thanks to BlogHer and Dreamers & Doers® for featuring this article and including me among fantastic female business owners who’ve mastered the pricing game. If you’re a business owner or entrepreneur looking for inspiration, check out the article for gems and wisdom from those who’ve successfully scaled their businesses.