Many biz owners price on FEELINGS ..not FACTS.
They look at the competition and Feel they can go lower than that ...and then they do.
Basing your price on what you see others doing and what you FEEL can drive you straight to the poorhouse.
Small Businesses cannot afford to act like Walmart. If you think people are only buying your service based solely on price..you are in trouble.
There will ALWAYS be someone who will try to beat your price.
Establishing the RIGHT price is not magic or competing with the "guy" down the street. It is based on what you need to run your business to cover all the costs, labor, material, overhead including paying yourself a decent salary.
Spend some time today observing yourself. Do you internally gulp when you have to state your price? Do you find yourself apologizing for the price? Are you constantly worried about the competition and what they are charging--
OR do you concentrate on what you can do to make your customer satisfied.
Observe and learn today and see what conclusion you come to.
No comments:
Post a Comment