Are you tired of working too hard for too little? In this episode, we’re going to talk about a common mistake that many businesses make – underpricing. Let’s explore why some firms fall into this trap and how to avoid it.
Listen below.
0:34 – In this episode, we delve into why some firms struggle with underpricing and how to avoid it to achieve better results.
1:20 – Good pricing strategies can lead to earning more while spending less time with clients, while poor pricing strategies can drag a firm down.
2:01 – Firm owners may feel guilty about raising prices for long-term clients and worrying about
their reputation.
3:22 – Hold your ground and communicate professionally to ensure a good business transaction for both parties.
3:35 – Some firms offer loaded service offerings to small businesses at a low price due to the limited affordability of their clients.
4:05 – I was coaching one firm. The firm was offering a great service but was not profitable, and price adjustment was the only solution.
4:54 – Charging the right price for your services is essential because it benefits both your firm and clients in the long run.