📄 Pricing yourself out of - and into - a market
A while ago I issued a proposal to a potential client, and they turned it down because of the price tag.
“You’re pricing yourself out of the market” was the response.
“Not historically so”.
Arrogant perhaps, but true.
Here’s why this might be relevant to you:
Each market segment - and each prospect in those - has their own acceptable levels of investment.
And if you find that people turn down your offers because of price, it’s not that your pricing is wrong:
It’s that you’re talking to the wrong market, or making the wrong offer to that market.
Some people pay a maximum of 50 bucks for a pair of shoes, others pay 2000.
And as the one who owns or operates a business, you get to choose who you want to sell to.
If you have a high-value service offer, and there’s a considerable investment to make, you need to carefully choose who you talk to.
Many entrepreneurs who hear "It's too expensive" or "I don't have the money" on a frequent basis, will try to fix their price.
But that’s a losing game - it’s much more fun - and lucrative - to fix your targeting, niche and audience.
There’s people who are willing to pay top dollar for your work.
And if you want to earn top dollar, you need to focus your attention and efforts on engaging with those people, and only them.
Messing with your price is never a solution for trying to attract the wrong niche.
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