How to Create Value Pricing - What does that mean? Is it beneficial to you? And, how do you implement it in your business without upsetting your clientele!

The Business Behind Small Business

#55. Today we'll be delving into the concept of value pricing! If you're a business owner or entrepreneur looking to maximize your profits and create lasting customer relationships, this episode is for you!

Many of us start our businesses with a cost-based pricing, which is ok, for some, at first, but then you’ll find your competitors are soaring faster to levels of success, you’ve not reached yet, or maybe you have but it’s been a chaotic topsy turvy ride you’re not sure your heart can handle much more of.

So, how do you create a level of value and respect for your products or service that don’t make you feel like you’re getting undercut or undercutting a client?

Take a dive into value pricing with Sevana and Tiffany on today's episode!

References:

https://online.hbs.edu/blog/post/value-based-strategy

https://hbr.org/2016/08/a-quick-guide-to-value-based-pricing

https://www.gemsociety.org/article/ten-gemstones-rarer-than-diamond/

Tiffany's Recommendations - Books:

Implementing Value Pricing by Ronald J. Baker

Value-Based Fees: How to Charge What You're Worth and Get What You Charge by Alan Weiss

Automatic Customer by John Warrillow

Sevana's Recommendations - Tools:

Wiser

Talon One

Price Intelligently

About BBSB - We are two business owners with two very different perspectives on building business, and the business behind that in order to achieve your goals. One of us built to sell, and will continue on the serial entrepreneur path, which means your focus and drive should include very particular tools and tips in order to achieve your goal. The other, is building a generational business, one that can go on long after she’s let go of the wheel. This type of business also requires very specific tools and platforms to achieve this goal. Both women have been successful in their own right, but in honesty - haven’t scratched the surface!

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Disclaimer - We are NOT licensed financial experts, nor do we give financial advice. Anything we share with you here on our podcast, whether it be a personal experience or submission, or advice/tips that have worked for us, or that we believe would work for you should not be viewed as either financial, business, or tax advice. We ask for you to do your research, have open and honest conversations with your company’s own support providers and make decisions based upon that. Throughout this broadcast we will share our knowledge and give suggestions and hope you will receive them as part of your overall research to better your own company.