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Episode 2 // Pricing That Packs a Punch
Championed by our friends at Community Futures Parkland
What are the two most common mistakes Founders make when it comes to pricing?
One, they set their price based on what the competition is charging;
And two, they neglect to take into account all the hidden costs associated with selling the product/service. Unfortunately, these innocent oversights have costly consequences on the bottom line. Tune in as NTN Pro, Taunya Woods Richardson and guest Host, Andrea Lutz walk you through a powerful four-step process that packs a profitable punch to your pricing and bottom line.
Don't forget to download the companion Playbook to get your step-by-step process to Pricing That Packs a Punch, compliments of our Gab Lab Champion, Community Futures Parkland.
Part 1 // Strategic Selection
Stop. Wait. Think. Before you jump head first into a pricing strategy, get crystal clear on where your sweet spots are! What are the top performing products/services driving (or have the potential to drive) the majority of topline revenue? A profitable product suite is what we're after.
Part 2 // The Weighted Pricing Process
Stop selling yourself, and your products, short! This
four-step process will show you the hidden value in each of your products/services and have you confidently promoting a new, powerful and profitable pricing strategy. One where everyone wins (O.K., maybe not the competition).
Part 3 // Reap the Rewards
BAM! Get ready to reap the rewards of a profitable pricing strategy! Gone are the days of relying on your competitors to set the price, of feeling awkward and uncomfortable when talking price with clients. It's a new day, Founders!
About the Pro // Taunya Woods Richardson
Taunya Woods Richardson is a serial entrepreneur, financial strategist and neuroeconomics expert who is applauded for her innovative and refreshingly pragmatic approach to inspiring money mastery among entrepreneurs. On stage, she’s a riveting, genuine and unforgettable speaker, engaging audiences with a wide range of science-backed financial insights that offer life-changing impact.
She's the creator and architect of the Cashflow Canvas and Money Mastery Matrix, and the founder and CEO of three fintech ventures, Epifany Financial Group, Nail the Numbers and Champs of Change. Her 30+ years immersed in entrepreneurial finance has led her to work with federal banks, credit unions, NGOs and universities to financially embolden thousands of entrepreneurs across North America.
Her insights and expertise on the topic have been featured in numerous media outlets including the National Post, Globe and Mail, Financial Post, Profit, CBC, CTV and Global Television.
About the Champ //
Community Futures (CF) is a community-based, economic renewal initiative, funded by the Government of Canada and directed by local volunteer boards. Their main objectives are to help rural Canadians start or expand a business and to help sustain and improve communities and their local economies.
The team at Community Futures Parkland is a growing, engaged, supportive, and collaborative community who have long been staunch supporters of financial empowerment of Founders. Whether it’s business coaching, lending or financial education, Community Futures Parkland has you covered.
Connect //
Nail the Numbers // https://www.nailthenumbers.com // 1.844.844.3660
NTN Gab Lab // https://www.nailthenumbers.com/thegablab
NTN Champion, Community Futures Parkland // https://cfmanitoba.ca/parkland
NTN Pro, Taunya Woods Richardson // https://www.epifany.ca
NTN Host, Andrea Lutz // https://www.facebook.com/collectivesoulsociety
Have an idea for a Gab Lab episode? Looking for help with a specific topic?
Hit us up at helpdesk@nailthenumbers.com
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