What Creates Value?
When you deepen your understanding of what creates value, pricing becomes so much easier. It becomes a matter of mechanics. And pricing mechanics can be straightforward.
Long-time readers of this list know I love Bronze-Silver-Gold as a starting point for monthly ongoing services.
Also available is the single flat fee, for:
A business or personal return
A one-hour strategy session
A ½ day intensive, that drills deeper into one’s books
A clean-up project
A diagnostic service (“Let me look at 3 years of returns and I can tell you what I see, but we don’t actually do anything.”)
And from there, you can give buyers payment options:
Secure your spot by paying in full up-front now
Split the payment in two for 10% more
Pay monthly for 15% more
Wait until you’re ready to buy, but the price may have gone up by then
Of course there are more pricing tools available for use, but that’s for another day.
What I invite you to consider is to focus first on building out the value of your service to the fullest extent possible.
Then, when you go to price, regardless of which pricing mechanics you settle on, your prices themselves will be much higher and you will have more latitude to work with.
The tendency is to go directly to choosing prices and pricing mechanics, while skipping the “create more value first” step.
I get why; value is esoteric, nebulous, intangible. It’s not as easy to work with as pricing.
But lots of hard-to-do things… are still worth doing.