Are you an entrepreneur who needs to price your services and products yourself? Are you as mystified by the process of naming prices as I have been? EESH! It's all made up, like with sports figures' salaries, movie stars, and top executives. Is it just what the market will bear? Is there a formula or a rule?
I'll be you're hoping I'll say yes! Well, I'm not that kind of number-crunching rule creating mathematical coach! I'm going to give you my thoughts and an exercise coming from my gut, from my experience and from coaching my solopreneur women clients every day. The answer lies in valuing yourself and your work, on top of the usual business-y things like cost of materials, overhead and the like.
New entrepreneurs often start out underpricing their services and minimizing or even cutting into their profits. Plus, when you don't have a lot of clients, you might find you take extra time, since there is plenty of it, to do things you could do in less time. Are any of these motivations and actions familiar? They mostly stem from fear.
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