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 bottomline. 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 bottomline.
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
06:11 Streamline the offering
13:07 Stretch the revenue model
20:44 Optimize, bundle and splinter
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.
to download the FREE Worksheets (Prioritizing Profit Centres and Optimize, Bundle and Splinter Worksheet) compliments of our Gab Lab Champion, Community Futures Parkland.
Part 2 // The Weighted Pricing Process
01:20 Research the competition
08:57 Select the criteria
19:15 Score the product
22:22 Set the price
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).
Compliments of our Gab Lab Champion, Community Futures Parkland.
Part 3 // Reap the Rewards
01:29 Promote your price
02:12 Stand apart from the competition
02:41 Messages that hit the mark
04:22 How to increase value and price
06:31 Cost of Goods
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!
to download the FREE Playbook and Worksheets compliments of our Gab Lab Champion, Community Futures Parkland.
Champion Spotlight // Community Futures Parkland
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.
Nail the Numbers // https://www.nailthenumbers.com
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