When determining the price for your product or service here are a few things to consider:
- What is the market condition?
- What is the market willing to pay?
- Do existing customers or clients clearly understand the value being created? How is this being communicated?
- Is the competition dictating the price?
- What is the company overhead?
- What does it cost to produce the product or service?
- What is the margin needed to cover the company overhead?
- Is the sales team leaving money on the table?
Answer the questions clearly and accurately to ensure that the pricing of your services are creating the opportunity for profitability.
Live Passionately!
John
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