profitability / 1 posts found

What’s your perfect price?

by mike tombs
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Pricing is notoriously difficult. We tend to undervalue ourselves, which inevitably leads to under-pricing ourselves. Under-pricing yourself leaves you having to work harder and longer hours, to maintain the same profit margin. Instead of managing as many customers as we can cope with, why not consider working with fewer clients, who pay who more? That way you can provide an excellent service or product to people who appreciate what you have to offer, without having to scrabble around working all hours for a tiny profit margin. The golden rule is a 10% increase to your prices will increase your profit [...]