I’m taking a short breather to recharge and bring you even more valuable bookkeeping and business matters. During my quick hiatus, let’s revisit a fan favourite from our podcast vault. It’s all about pricing for profit and avoiding costly mistakes. This is essential for every business owner to be across.
Enjoy this episode flashback and I’ll be back with you soon with fresh content to supercharge your financial journey….
This is a topic I love chatting about as it makes a huge difference to small businesses and their bank balances – profitability!
Working with hundreds of clients across different industries and models over the years I have seen countless ways business owners work out their pricing, as well as the mistakes they’ve made along the way.
I want to share my super simple pricing process with you, and some of the mistakes business owners commonly make, so you can avoid them.
Pricing your products or services can actually be one of the hardest parts of running a small business because there is no exact science to it, and it is different for every single person. However – the foundations are the same.
In this episode, you’ll learn about the importance of working out your costs first (as well as what those should include), how to ensure you don’t miss the GST and when you should be doing a pricing review.
I also take you through the most common mistakes people make with pricing including not considering time and wages and discounting.
You need profit to grow, for expenses, to build up savings and to invest in your business. If this is a topic you still feel unsure about, jump in – you’ll be on your way to a profitable business in no time after listening.
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