Pricing your product is a question we all struggle with. If we price low, we potentially lose out on money, but pricing too high we could lose sales. It’s tricky, but there’s more to it than that. It depends on the kind of business you want. Do you want a lot of clients paying a small amount, like Netflix, or a few high priced clients like Nordstroms?
We also discuss how to know when it is time to dump some of your clients so you can focus on delivering to your best clients and making the best use of your time?
0:00 – How to find the best pricing for your market
0:58 – The velvet rope and Pareto Principle
2:35 – Using price elasticity
3:38 – Your hourly rate
5:40 – 5 vs 2 weeks a year of vacation?
6:45 – The overwork culture of entrepreneurs