Pricing our services is challenging for so many reasons. But pricing that covers our costs, allows for growth and scaling, gives us our desired salary and lifestyle and attracts our ideal customer is critical to the longevity of our business.
There are so many different pricing strategies all with advantages and disadvantages, it was important to me to create a simple solution for my clients. One that is replicable, explainable and builds confidence in the business owners and trusted relationships with the clients.
Pricing should never be plucked out of the air. We should never stick a zero on just because we think we can or because someone else has/tells us to. There's a lot of bad advice and practice out there at the moment, and I want to challenge that. Value based business owners must get into the detail and, ultimately, ensure their pricing holds true whether they are selling on social media or in a room full of people 'in real life'.
So here's to building a pricing strategy for your service based business that creates flexibility and freedom for you, upholds your values and enables you to build long term relationships with your clients.
Before you use the calculator, there are some things you need to know ...
This calculation and the Innovate & Thrive Pricing Methodology should in no way be construed as financial advice. Please seek the advice of a qualified and regulated financial advisor for all financial planning.
This calculator is for guidance only.
It will generate your basic service price. This is the minimum you should charge for your service. You may wish to increase the price based on your market research and/or transformation/impact to client.
I hope you find it helpful!