Okay ladies, money is always a touchy subject for women and it’s time to change that. When entering the world of creating an online business there’s a plethora of things you have to figure out and it can get overwhelming (join our free accountability group for support!) You have to think of a name, come up with content, grow your list, think of your service suite and most importantly, figure out your pricing. Because if we’re being 100 real, nobody starts a business to stay broke.
I get it, you’re probably like, “What if nobody buys my products or services?” You feel like you can’t price too high because nobody will buy or you feel like if you price too low you won’t be making any coins. Or you may have even picked a random number because that’s what you saw someone else do. I get it girl, we’ve all been there. That’s why we’re creating this post to give you a helping hand by listing out the 4 key things to consider when determining your prices, let’s go!
Before we get into it, I want you to take some time to reflect on your current prices for your business. Then I want you to ask yourself why haven’t you increased your prices already? If you were saying “that’s me” to the paragraph above then, girl you have to let that shit go.
It’s super crucial that you elevate your money mindset and understand that you are offering something because you believe in it’s value. You believe that what you are providing is going to help whoever your ideal client is and your prices should reflect that.
Cost of Creation
Think about the time it takes for you to complete your service(s). Be sure to pay attention the tools and software you use, the subscriptions, the materials, and other things of that nature. Would you have to use the money from your services to pay them?
Cost of Delivery
Are you or do you plan to spend money on social media advertising such as IG or FB Ads? What about affiliates and partnerships? Or things such as shipping and warehouse fees?
Things to consider under this would be things like your annual domain + hosting fees, paying your VA’s or employees, utilities, your rent, bills, etc.
Your profit is what comes beyond the labor, your salary, the cost of running your business, and bills.
Now that you’ve gone through the key four things you should consider, go back and write down the specifics that deals with your business before yo try to figure the exact price point you want to charge. Another thing to think about is how much of your money do you want to keep for yourself? This takes thinking and a little finesse but in due time you’ll have the perfect prices for you and your business.
Now, I would like to hear from you.
What the biggest struggle or frustration you have when it comes to pricing your product or services? Let me know in the comments below.
Remember, share as much detail as possible in your reply. Dozens of Goal Getters come here each week for insight and inspiration and your story may help someone else have a get to the next level.
Thank you, as always for visiting, sharing, and allowing me to be apart of your week.
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