How to Price What You Sell

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq., owner of Ask The Business Lawyer, is an award-winning business attorney, speaker, and Entrepreneur Magazine online contributor. She saves consulting and professional services companies time, money, and aggravation by serving as their outsourced legal counsel.

Posted on January 2, 2015 in Business Transactions

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“What should I charge?” It’s a perennial quandary that crops up for virtually every entrepreneur. It’s also an area where women entrepreneurs tend to undervalue what they offer, so they run into two problems:

  1. They don’t adequately convey their value proposition to clients, so they have trouble attracting them in the first place.
  2. As they underprice their products or services, they earn less per transaction.

Joe Love provides some helful guidelines in his article, “How to Price What You Sell“–especially the part where he cautions small business owners not to compete on price. That’s often a self-defeating situation. . . entrepreneurs may reduce their prices to such an extent that they end up losing money on each deal.

Whatever you choose to charge, and whatever the reasons you choose for it, be sure to put your prices in writing so that there’s no confusion for your customers!

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