How do you know if you charge enough for what you do?

 Are you cheap? Are you good value? Do you give customers great service? You have to choose which two are important to you as you can’t be all three – it just doesn’t work. Something’s got to give.

Pricing is key to the profits in your business. Over the years I’ve seen so many businesses go out of business because they didn’t charge enough. They ran themselves ragged doing a great job and giving great customer service at really low prices. But in the end it wasn’t enough and they gave up. It was too much like hard work and without the rewards.

So think about what you do. Have you forgotten to charge for something that’s an integral part of your product or service? Is there something that takes longer than you had anticipated when you first set your prices?

Are you being unrealistic about the quality of customer service you can deliver at the price you charge? Please don’t drop the quality of your service, your good customers will happily pay more for this. Do you like crappy service? It costs more but it’s not something you can compromise on.

Do yourself a favour, have a look at what you do and how you charge for it. At the end of the day your customers will choose on price if that’s the only difference between you and your competitors. Give them bloody good service and let them know you care. They will pay more and stay with you longer