07/12/2023
Mistakes, we've all made them. And when it comes to pricing, new entrepreneurs often fall into common traps (trust me, I've been there too). Here are a few blunders to watch out for:
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1️⃣ Basing Your Price Solely on Time ⏰
Charging by the hour isn't inherently wrong (I do it myself for consulting services). However, it's crucial to price your services based on the value you provide, not just the time it takes to deliver. Remember, anyone can assemble an Ikea dresser, but ensuring the drawers open smoothly? That's where expertise shines.
2️⃣ Not Listing Your Price on Your Website 💻
It's a polarizing topic, but hear me out. Listing your price, even if it's a "starting at..." figure, helps filter out those who aren't ready to invest. This saves you countless hours of wasted discovery calls. As an introvert, I've skipped opportunities simply because I had no idea about the price range. Let's not be those people, shall we?
3️⃣ Forgetting to Put Aside Money for Taxes 💼
Oh, the joy of seeing client payments in your bank account! But beware, Uncle Sam will come knocking, hand extended, backed by the IRS mob. When pricing your products, factor in 10-15% for taxes. It's essential to account for this reality from the start.
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