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The Financial CoPilot
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Financial Literacy for Business Owners
Financial Literacy for Business Owners

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Find a balance of emotionally responding to money; when you have it, be grateful and honor its presence. http://ow.ly/s25Q9

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You can take a vacation from work and come back refreshed and recharged; I show you how in a new blog. http://ow.ly/s24Br

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Know what your customer wants to avoid, and what makes them feel great; you'll have the upper-hand over the competition! http://ow.ly/rKYbi

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Build a team that supports you, and you can free up time to work on what you need to. Read more to learn how! http://ow.ly/rKWUK #teamwork  

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When setting prices, understand that the value you bring is an important factor. Read my new blog about Determining Prices. http://ow.ly/rHF97

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Pricing: If your customer saves $250.00 from a process, having them pay a fraction of that is appropriate. http://ow.ly/rDsEW
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When an idea isn't big or sexy enough, it will not attract the right investors. #investing
http://ow.ly/qTvMf

Determining prices for your products usually has to do with the positioning of the product, how your customer perceives the value and ultimately what the market will bear. Will the right number of people purchase your product for you to maintain profitability? Because it is not just the pricing, but it is also the volume of product that you move at the given price in order to breakeven.

The Center Of Your FocusPricing War

The number one area I would focus on is what the value is to your customer. How does the product or service interact with your customer’s life, and how much are you creating for them? This is what tells whether you have a deluxe product for charging a lot of money or not. Your interaction allows the customer to perceive its value.

Trial And Error

We made lots of money in creative ways where the price was not necessarily upfront. We had a price that allowed for our revenue to be more consistent and our cash flow to become much more stable over time. Start by understanding how the product or service interacts and enriches the lives of your customers then work backwards to make that really great benefit happen. Test to see whether or not the market will bear it, people will like and pay the price you are asking. Keep asking and tweaking your pricing until it is right. I would not suggest starting low, as a matter of fact, most business owners do not charge enough.

I have won on different occasions by not being the cheaper provider but by actually being a modestly priced value provider who creates and provides a lot of value. In order for that moderate value to be compensated, the price is much higher than any of my competitors because my competitors do not o what I do. It is important for you to distinguish yourself and communicate it this way. Then have your customers engage the value proposition since they are buying from you.

Your Final Mission

It is not just about the price it is more about the execution of extremely incredible, overwhelming value that creates a buzz making your customers happy that they spent whatever money they did on you! That is your mission.

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One of the most critical pieces in building a powerful culture is hiring the right team. Read more! #hiring http://ow.ly/qTv9m
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