Earning what you’re worth by pricing for success

Price shouldn’t be the amount you think people will pay for your product or service, or the amount you think you can afford to charge.

By really considering your pricing structure and charging the correct amount required to  reach your goals, you will actually create better opportunities for yourself and your business.

In small and medium businesses, as well as sole traders, I often see owners systematically undercharging clients, as they feel they need to keep prices low to grow their client base and increase revenue.

It’s easy to see why this approach is common – more clients means more work, and more work means more revenue.

But this approach comes at a price – for you, not for your clients.

Price shouldn’t be the amount you think people will pay for your product or service, or the amount you think you can afford to charge.

Correct pricing isn’t some random number plucked from the ether. It’s a hard number that is determined by factoring in;

1. The cost of goods required

2. Expenses and overheads

3. Marketing and branding

4. Payroll including superannuation and tax

5. Crucially, your time.

Undervaluing your product or service may seem like a good strategy for growing your business, but when you really think about it, you’re trapping yourself in a cycle of incrementally more work, working harder and longer, for comparatively little benefit.

By really considering your pricing structure and charging the correct amount required to  reach your goals, you will actually create better opportunities for yourself and your business.

Work smarter, not harder, to build your business.

For our pricing for success worksheet and further support to begin charging what you and your business are really worth, contact us at Small Business Society.


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About Kate Tongue

Kate Tongue is the founding Director of Small Business Society.

She is a qualified and experienced Human Resources professional with more than 10 years of experience across the private and public sectors.

Her particular interest and experience is in managing the employee life cycle, delivering process improvements, and Human Resource strategy.



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