EPISODE 023: Pricing 101

Today, we are coming at you with another information-packed episode about, well, business! As entrepreneurs, we have all asked ourselves the age-old question: how do I know what to charge? It can be so difficult to know if you are over- or under-charging for your service or product, which is exactly why we are diving headfirst into this topic. It took us A LOT of trial and error to figure out what we should be charging for our services.

IN A NUTSHELL: How to establish your price ↓

  • Firstly, keep track of all of your expenses!
  • Time is money! So figure out how long it takes you to perform your service/make your product/etc.
  • Price shop your competition. Call local competitors if you need to! A Google research can also help.
  • Keep track of your books frequently. Make sure your profit margins stay the same.
Remember to stand by your price. Would someone walk into Starbucks & tell the barista that they want to pay less? Nope! So don't let anyone do that to you either.

Grab a pen & paper, & get ready to take notes! There is a lot to unpack today.

You can listen to today's episode on Apple Podcasts, Spotify or wherever you stream your podcasts. Enjoy!