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Friend-of-the-list Brandon Hughes started an interesting discussion on price and rates. “If you find the price, you would give the extra value.” This makes sense on the way we’ve been taught about pricing and prices. We need to find the right price. But there’s no right or wrong price. Just a price. We’ve been taught that first you find how much it costs you, then you find the right price, and then you see the value that can be added to your customer. That’s backwards. You don’t find the price to then give the value. 1- You find the value of what your customer is after, then 2- you set the price (an acceptable value/amount for the customer as a trade-off in exchange for what they desire), and then 3- you determine the cost of what you could do to make your price workable for you. We’ve been taught the wrong way. But you can change that. 🙂 |