How to know what to charge for a value-based business

If you’ve been in business for any length of time, you’ve had to struggle deal with that age-old question:

What to charge for what you do. If you charge too much, your ideal client won’t find you and if you charge too little, your non-ideal one definitely will. When you have a product that clients can see, hear, touch, taste, or smell, the task is a little easier because the client is basing their expectations and impending results (satisfaction) on their senses. When you have a service, it’s more complicated because it’s based on that intangible thing called…value.Value-PRICELESS-1-400x600

Kind of like a magician pulling a rabbit out of a hat, attaching a price tag to the value you will create for them (note I said “will” as in it hasn’t happened yet) is, for some, just as impossible.

For you, value is based on three things:

  1. Quality
  2. Commitment
  3. Results

For your client, value is based only on results, and to some degree, time. Did you solve their pain in a reasonable amount of time?

Recently, my husband and I completely renovated a new house. The contractor agreed to work within our budget (which made my husband cry) and made the necessary changes in about two months. When I was getting ready to write the final check, I thought about asking for an itemized list of every nail, screw, and bucket of plaster to see if it had lined up with what I had paid. But, I realized that I had what I wanted. A beautiful house that was completed on time and close to the agreed budget. My point being that I got the results I wanted so it didn’t matter what I paid.

If you can deliver quality service and results to your client, you are providing value that is priceless to them.

So, make sure your pricing reflects that value. You (and they) are worth it.

How do you price your services? Please share your thoughts below. If there’s someone you know who would benefit from this article, please share it with them.

Thank you for sharing this space with me!

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