Little scares entrepreneurs as much as pricing. We all know that if a prospect eagerly becomes a new client with little questions that we may have just given away the farm. When a prospect doesn't call back after being told the price - and this not on the first or second meeting - we've probably charged too much.
I just read an amusing and informative article on Fast Company about pricing. The article is geared to big business, but there are always lessons even if you're a one-person shop.
Another blog post over on Fast Company by Alison Yama talks about pricing in a depression, and her approach is very relevant to small businesses. In fact, I shared her article in my class on pricing and distribution for entrepreneurs at the Renaissance Entrepreneurship Center.
I found this nifty tool that will calculate your gross profit margin at Bankrate.com
Enjoy!
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