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Entries in pricing (6)

Wednesday
Mar282012

guest post | Should you list your prices on your website?

today we have a guest post from Alli Price of motivatingmum.com answering a question i get asked often by little biz builders: Should you list your prices on your website?

An interesting discussion came up at a recent Businessmums’ Club in Melbourne. Interesting because it pretty much split the room and there seemed to be no agreement as to what was the right thing to do.

The question? Should you list your prices on your website?

The answer? It seemed there was no answer. And the reason was that every mum in that room had a different income, a different attitude to what they would pay for services for themselves and their families.

The only thing everyone could agree on was that listing your prices on your website is as dependant on your target market, your business vision and you as every other decision you make for your business. However, there are a few points that can be considered to help you make the decision that’s right for you:

  1. What are your personal views on whether prices should be listed? Does it drive you crazy if they’re not there or do you expect not to see them?
  2. What are your target markets personal views? What would they expect to see on a website offering the service you do?
  3. What are your target markets presumptions on viewing a site without prices? i.e. too expensive, I won’t call or a quality service
  4. Is your service priceable? Can you price even a basic service or package and invite contact for more involved work?

So, the answer for me is yes.

  • Personally, I hate when prices aren’t listed on a site and am loathe to call as am expecting the pitch,
  • My target market like to see prices as many can’t afford the high price of business services
  • My services are priceable – pricing a mentoring session or an event is not as tough as putting a price on developing a website.

So what about you? Do you list your prices? Do you like to see them listed? 

a not from karen: the answer for me is yes too. i will often not bother contacting the biz owner for prices if they are not listed - i will just go with the biz that has listed prices. and for my photography biz i feel like listing my prices helps to narrow in on my target - i weed out all of those people who i am not the right fit for and save myself time answering inquiries that won't go anywhere. what do you think? add your comments below, we would love to hear from you!

Tuesday
Jun072011

group buying deals: are they good for your biz?

so this morning i opened up my email to find one from a group buying site. normally i delete them without even opening because i never want the thing they are offering. and i can’t figure out how to unsubscribe from the bloody thing, but that is another rant for another day.

today the daily deal was:

$19 for a $490 photography package.

needless to say, as the owner of a photography biz, that caught my attention rather quickly. i feel really frustrated when i see any business offering something so far below market value, especially when that business is in my field. urgh!

so i have been silently analyzing this whole group buying thing in my head all day, and finally decided to write a post on it to see what others think.

i have a few problems with this deal specifically…

1. it is not specific

this deal says the family gets a ‘personalized photo session and a DVD slide show of the best images to enjoy’ – it does not say how long the session is or anything about how it is ‘personalized’ and it doesn’t say how many images will be on the DVD or if they are low resolution (for viewing on a screen) or high resolution (for printing). basically, i have no idea what you really get.

2. it is not transparent

i had a look at the website to see what the prices are for prints, which is generally the way they suck you in. offer you a deal on something (the session) and then charge you to the hilt for what you really want (the prints). no prices are listed on the site. so in addition to my question about the cost of prints i also wonder where the “$490 value” comes from.

3. it doesn’t instill confidence

as of this moment 238 people have signed up for this deal with 2 days to go. as a photographer i do not see how those sessions could possibly be personalized, how the images could be hand edited with care, or even how they could all be done by skilled professional photographer. i picture this being done like a cattle call with trained minions pushing click as each family files through!

but after being annoyed all day i am just going to let it slide. in the end this business is not really my competitor, i don’t really want the sort of client who only wants to pay $19 for my time, talent and expertise and i know the service i provide is nothing like what i am imagining this to be like. i am going to just keep on being awesome.

but i still have questions about group buying in general.

what could a business get out of doing a deal such as this?

traffic

clearly it works to get traffic through your doors. but are these really the clients you want? ones who are just buying something from you because it is on offer at 96% off? are those your ideal clients?

maybe if you were using group buying as a way to get some extra traffic to fill up a slow period, or to sell off some unwanted stock… but i wouldn’t bet on those people becoming repeat customers, or passing your name on to people who are ideal clients.

exposure

i guess if you have 238 new customers in one day, that would probably mean a much larger number have looked at your website, or will now recognize your business name.

but again, if those people are all just people looking for a deal, are they going to come back to your site again? or just grab the next deal that the next biz offers?

money

perhaps the goal is that once you get the people in the door, they will spend more at your business and you will make a profit at the end.

but what if they don’t? what if all of those people only want that deal? what if you potentially harm your brand & image for no profit?

in the end, my major concern for these types of deals is what is the long term effect on your brand? yes, your price is part of your brand. by offering something at such a huge discount you may be giving the following message:

  • your product or service does not have the value (quality, expertise, detail etc.) you say it does
  • your product or service is ‘cheap’
  • your business or brand is untrustworthy (suspicion often follows an extreme deal)
  • teaching your customers to wait for the next deal before making another purchase

like any other promotional offer, i am sure there are ways to do group buying deals well. there is a time and a place for offering people a discount. i would just warn businesses to be cautious: you should have a purpose in mind and be careful that you are doing it in a way to maximize the return and maintain your brand message.

what do you think about these types of promotions? would they work for your biz? how do you feel when your competitors do them? have you ever bought one for yourself?

here is some further reading on group buying. have a read and let me know what you think, i’d love to hear from you!

 

Tuesday
May312011

what message are you sending with your prices?

if you have been reading this blog for a while you have already heard me say this: your brand is not your logo. your brand is the message you are sending the world about your business. and part of that message, part of your brand, is your price.

be aware of the message you may be sending if you engage in the following practices:

facebook sale albums, market nights, discounts, coupons etc.

don’t get me wrong, there is a time and a place for a sale or special offer (for instance if you want to generate some buzz, create a time constraint to buy, get rid of samples or discontinued items) and i am sure there are businesses that swear that their discounts work.

but i get this question a lot: "people only seem to want to buy from me when i have a sale. how can i get them to buy items at full price?" or "i do a 'sale night' on facebook once a week and it used to be popular but now it seems like even the sale prices are too high for people" or "people only seem to like my page if i am doing a sale or giveaway. i only sell stuff when i have a discount."

be aware of the fact that when you reduce your prices you create a culture where people won’t want to buy at the full price. you are training people to expect to get your items for 'cheap' and you often need to continue to reduct prices to stay competitive - it becomes a vicous cycle! this seems especially true on facebook where people often are only looking for a ‘deal’.

  • instead: if you have a sale, make it a rare occurance and have a purpose for it; if you want to offer discounts/deals do it for your VIP customers - the people who often buy from you at full price; don’t call it a sale or a deal or any word that implies that your products are cheap or have less value; create a culture of exclusivity with your offer.

tag-to-buy style promos where item is ridiculously low priced

this seems to be a way of businesses getting around facebook’s rules for promotions. you are allowed to sell your thing on facebook any way you like, so rather than have a giveaway I have seen page owners ‘sell’ their items for 1c, 5c, $1 or some other ridiculously low price.

a giveaway (a prize with monetary value that people want to win) can create interest in and buzz for your brand. your offer implies exclusivity in that there can only be one winner, and the value of the prize is noted so even though it is a freebie the entrants are aware of your full prices.

selling your item for $1 doesn’t really send that same message. instead you are telling people that either you don’t care about making a profit or your products do not have very much value in the first place.

  • instead: if you want to create some buzz and excitement for your page with a purchase (instead of a giveaway that involves annoying rules) then again, create a culture of exclusivity. a limited edition product, an in demand product that you only have a few left of, a small sampling of something new you have on offer… and be sure that your discount is reasonable, that you are clearly still making a profit with the sale.

under pricing the standard rates in your field or niche

setting your prices well below the norm in your niche, as a method of gaining customers, will usually backfire. if your prices are cheap your product is often seen as cheap as well, and you usually attract people that aren’t your ‘right people’ at all. you can’t run a business if you don’t make a profit and it is sometimes difficult to raise your prices later when you realize this mistake.

  • instead: set your prices so that they fit within the standards of your field. if you have low prices as a method of gaining experience, building your portfolio, or testing out a new product – then make it very clear that that is what you are doing. state your ‘standard rates’ and then describe your special rate along with why you are offering it and for how long it will be on offer.

‘affordable’ as your brand message

affordable is a relative term. what is affordable to one is cheap to another and expensive to yet another. what one person values is different from the next. so selling your item on the fact that it is ‘affordable’ is pointless, it doesn’t really tell anyone about what you do and why it rocks.

not only that, anyone else can come along and undersell you… if the only thing that was keeping your customers interested was your ‘affordable’ price then you have just lost them.

  • instead: sell on the benefits of your product or service. sell on the thing that makes you stand out from the rest. sell on the way in which you solve your customer’s problems or meet their needs. sell on the thing that your people value – the thing they will pay you for even if you changed the price or some other biz tried to undersell you.

pricing that does not match the rest of your brand

lately i have seen examples of some gorgeous custom-made products being sold on excellent professional websites with knock-out visual branding, but the prices were so low i wondered what was wrong with them.

i have also seen some really shocking, unprofessional looking sites and pages with homemade looking logos that were selling products or services at prices that were quite high in their niche. if i were going to pay that price i would expect it to come from a business that was much more professional.

  • instead: your brand message must be consistent. consistency builds trust. if i don’t trust your biz/product/service/brand i won’t buy from you. if you are just starting out with a homemade logo and website, be sure you are clear that you are JSO and offering introductory prices. if you have a professional business then act like it! set prices that clearly demonstrate the value, expertise and uniqueness of your product.

even if you are ‘just starting out’ with your business idea, if you are just a hobby at the moment, or if you only have a facebook page for your business – i would bet that your goal is to be a ‘real business’ one day. all the more reason to careful with the prices you are setting for your products.

what you do now will have a lasting impact on your business and on your brand.

further reading:

Thursday
Nov042010

{pricing} how my 'special deal' ended up biting me in the ass

do you ever have times when the universe seems to be sending you a message? or rather beating you over the head with a message until you get it through your thick skull?

that is happening to me this week, so i thought i would share with you. we can call it a light bulb moment, like oprah does. also known as ‘duh haven’t you figured that out yet?

i decided to think outside the box when it comes to selling my thing, so i recently did some one day events in which i offered a modified, ‘more affordable’ version of my normal service, had some special prices on my products, and gave a portion of the fee to a fundraiser.

i did this as a way to get my name out in the community, to provide a service to a large group at once and to introduce another income stream into my biz that wouldn't require as much time as my 'regular' work.

before i go any further with my story, i would like to insert that these were indeed great events, and for the most part i think the clients were pleased with their service and products.

but on one day, i had a large number of problems arise from one event: repeated emails and calls asking me to do stuff for free, switched and cancelled orders, people pushing for things even after i said no, people criticising my methods because they know ‘so-and-so’ does this and offers that and doesn’t charge anything... well you get the idea. needless to say i was frustrated.

don’t get me wrong, i don’t mind dealing with client requests and taking as much time as needed to get an order just right, when clients pay the full price for my regular service. my time and expertise and attention are part of the value people get when they come to me. but these events were meant to be quick, simple and no-frills.  and it turned out to be anything but.

this is what i noticed; it seemed that the clients who were the most high-maintenance were the ones who perceived my products to be ‘cheap’. the ones who found it to be ‘expensive’ still spent their hard earned dollars on my stuff, but they never made a complaint or extra request, and are thrilled with their results.

i also found that people who knew of me from when i was just starting out and not charging much were the most difficult; i felt they did not value my work, my time or my expertise. the ones who only know me as my ‘new’ professional brand did not question my value or expertise, and treated my biz as a professional.

since that day i have had the following messages cross my path:

~ if you attract people based on price, you will attract people who are difficult (dave Navarro, the launch coach)

~ your right price has got to be enough that you are happy to do the work and you filter out people you do not want to work with (dave navarro, the launch coach)

~ when you discount you start to attract price sensitive clients who are coming to you simply for one reason, because you are inexpensive. And you are also teaching your really good clients to wait for a sale. So you are devaluing the long term value of your business and of your brand. (sarah petty, the joy of marketing, posted on MCP actions)

~ the 'give stuff away for free, make money later' strategy gives the impression that your products (and ultimately you) aren’t really valuable. (megan auman, crafting an MBA)

~ when you stop advertising low prices, those whose only loyalty was to the lowest price stop coming in (mark silver, the heart of business)

when i look back on my clients over the past 2 years i can see a pattern. the ones who were the most difficult were the ones who were there because i was offering something really cheap. they are still difficult even though i have relaunched, rebranded and repriced my biz. they still expect something for nothing.

the clients who have been the real gems to work with are also the ones who have spent the most money on my service and my products. they are not high maintenance because they trust me and they have confidence in my work. they see my biz as having value and being professional based on my prices and my brand.

ta da! price affects perception. low prices attract difficult people. the right price is more than just profits, it is branding.

in the end, i did enjoy doing those events and i think there will still be a place for them in my biz. but in the future i will be reframing the way my pricing and value is perceived by clients on that day. i will also be very clear about the service i am offering – ‘no frills & low maintenance.’ if you want the frills, you need to pay for my regular, more expensive, more value-added service. new rule. =)

what do you think? what experiences have you had when offering discounts or special deals? have you had troubles changing perception as you have changed your prices? do you agree with the statements above? i would love to hear from you!

Thursday
Sep232010

{pricing} 46 random tips to help you price your stuff

pricing. seriously, i think this is one of the most challenging parts of building your own little biz.

last week i recommended an ebook called earn what you deserve. this book does not give you a magic formula for figuring out your pricing. what it does do is tackle the underlying issues you need to consider before you can really charge what you are worth.

let me say that again. no pricing advice in the world is going to help you if you do not have a sense of the value of your work.

earn what you deserve is going to help you do that. with it, you consider what it means to be a biz owner, tackle your own beliefs about money and finances, figure out the true cost of doing business, look at new ways of marketing and selling, and start to build your own sense of value in your work and your product. once you have done that, then what?

well it is time to look at what you have been charging for your product. as promised i have compiled a list of tips, advice and strategies from all over the place that may help you with this. this is not a step-by-step formula for figuring out your price. (if i ever find the elusive, magic step-by-step formula for pricing i will share it immediately!) what i have done is a lot of research into different strategies and taken the bits and pieces that make sense to me and apply them to what i do. so i am sharing those bits and pieces with you here.

first, let’s get your head in the game...

~ you have to value your own work. or no one else will.

~ cheap prices give the impression that your thing is cheap. (cheaply made, cheap in quality, cheap in value etc.)

~ your low, low price should not be the thing that makes you stand out among competitors. this is not sustainable or wise. someone else can come in and undercut you in a second, and if your only thing is that you are cheap your customers won’t stick with you.

~ the quality of your products and services will not only be judged by your prices but also by the prices of the products and businesses you associate with. choose wisely.

~ stop apologizing for your style, your product, your methods and YOUR PRICE. if you do not have confidence stating the price for your thing, no one is going to be willing to pay that price.

doing comparisons...

~ as part of your market research you probably looked into what other people are charging for similar things. that’s a great tool for getting a snapshot of what is happening in your niche and seeing what others are doing with similar products and services. (maybe you can offer something they are not!) but using someone else’s advertised prices to determine your pricing strategy is a slippery slope.

~ a comparison to what someone else is selling and charging does not factor in YOU – your level of expertise, your costs, your time, the value your customers receive, where you get your supplies etc. etc.

~ you do not know their costs of doing business: do they have 5 nieces helping them make their thing for no charge? do they have to rent a studio space? do they have to pay for childcare so they can work? do they frequently discount those prices?

~ comparing is looking to external factors (what other businesses are doing) for answers to internal questions (what is the value of what i do? what is the right price for me?). you need to get those things sorted for yourself.

~ you will probably never feel comfortable stating your prices if you based your strategy on what someone else is doing. it has to fit your brand, be based on your value, and feel like your right price if you are going to have confidence in it.

true cost of goods...

~ take the time to calculate the true cost of doing biz. (you will have done this if you read earn what you deserve.) this is not just what it costs you to make your thing (supplies and materials), but all of your extra and yearly expenses (insurance, website, bank fees, licenses, office supplies, ads, packaging, postage, etc. etc.)

~ you can determine a price for your thing by taking the cost of goods and multiplying (by 3, 5, 10 etc.) it to get a profit. just be sure you are including an amount to cover your cost of doing biz, an amount to put aside for your taxes, an amount to pay yourself, an amount to go back into growing your biz and an amount to cover any possible discount you might offer (facebook promos, market specials, repeat customers, package deals etc.) or commissions you might share.

~ take time to figure out your average monthly sales, your yearly earning goals, and the average number of hours you work. calculate how much you would need to work and sell to cover your costs and meet your goals. it can help you determine how much you would need to charge.

~ your thing might be a physical product, an hour of your time or some combination of both. it can help to weigh both factors when you are coming up with a cost for your thing. time is money! things can cost a lot in materials but take no time, or cost very little in materials and take a lot of time. don’t forget to factor in your time.

~ keep it simple. a size 2 dress is priced the same as a size 16, regardless of the amount of materials used. no need to get sticky about exact cost for the square cm of materials; round to an average or use the highest amount for your pricing. try just having a few catagories (small/med/large, low/mid/high, basic/premium/deluxe etc.)

~ pricing is not just based on cost alone. you also need to consider value. value is the total sum of what customers get from dealing with you. this can include quantity, quality, expertise, time, attention, and more. here is a great post from a photography blog that i think exemplifies what value means.

~ is there a way to add more value to your product or service without increasing your cost by much? this will allow you feel more comfortable with what you need to charge and clients will love the added value.

~ clients aren’t aware of and frankly don’t really care what your true cost is. they have a problem they need solving and they probably have a price in mind about how much it should cost them. if you consistently solve their problem, if you offer them awesome value and service, they will pay you whatever you ask.

creating packages...

~ consider a la cart pricing vs package deals. packages are a great way of offering added value to your products and customers feel as though they are getting a good deal.

~ studies show that people often go for the ‘middle’ product or package so keep that in mind as you are building your packages.

~ have an ‘a la cart menu’ for your individual products and/or services that have quite a high mark up – if people just want to buy one thing from you it will still be worth your time, and this high mark up allows you to offer package discounts.

~ make a small package based on the minimum average sale you would like to achieve and offer a discount that will still allow you to make your minimum profit goals. a medium package should offer great value to the client and  be priced so you make your ideal sales goals. a large package should be for the client who wants it all. offer them the works at a premium price which will still be a lot less than if they had ordered each item separately from the a la cart menu.

~ clearly show people how much money they save on each level of package. people love to feel like they are getting a crazy deal!

~ try to incorporate both products and services into your packages for extra value. an a la cart item might be a ‘what you see is what you get’ product while a package could offer customization or a one-on-one consultation.

~ try to be creative in your packages. list every possible product and service you could offer a client and see how you can use them in your packages.

trust your gut...

~ these strategies are all fine and dandy but if you are not feeling comfortable with the numbers you get you aren’t going to be confident in charging those prices. do not underestimate the value of your intuition. if you have really been focusing on your ideal client and are aware of what is going on in your industry then you will be attuned to what feels right.

~ mark at the heartofbiz.com has a wonderful strategy for finding your right price. i love it because it speaks to the discomfort we sometimes feel over a price that we have arrived at just by plugging numbers into formulas. mark’s method involves more heart and intuition, and it might suit you more than a formula does.

~ once again, no price will feel right if you do not value your product or your business enough yourself. you need to have a strong sense of what you are worth, and be determined to earn what you deserve. get there first and the right price will be much easier to decide and live with.

consider your brand....

~ just like with any other aspect of your business you send a message with your price. think about your branding message. what are you saying with your brand? (for example.... quality, luxurious, timeless, reliable, trustworthy, innovative etc.) does your price point match this message?

~ be transparent about your prices. publish them on your website, facebook page etc. potential clients should be able to tell right away if your product is the right fit for them and there is no sense in you wasting your time for someone to tell you your price isn’t right.

~ the value of your product, the quality of your product, the price of your product, the characteristics and needs of your ideal client, your marketing strategy and your overall brand message.... these things should all should line up!

~ once again, cheap prices give an impression that your stuff is cheap. is that the message you want to send with your brand? then why are you sending it with your prices?

a few random points....

~ when you get too busy, increase your prices.

~ some people should find you too expensive.

~ time is money. time is money. time is money. yes, get that in your head already!

~ you will get to a point you can’t just make more stuff in order to increase your profits. you won’t have enough time. find other things you can sell, other income streams.

~ focus your marketing efforts on your big money makers, the stuff you love doing, or the big draws that get people into your shop and buying.

~ charge more for stuff you don’t really like doing. if someone asks you to do something you don’t like to do or don’t have time to do, quote an outrageous price. then if they take you up on it is worth your while!

~ combine things that cost you a lot to make (or take a lot of time) with stuff that doesn’t to create better value for a price.

~ make stuff that people really need. solve problems. it is easy to charge more for stuff people really want, than for stuff you sell just because you love it.

~ start as you mean to go on. even if you are ‘just starting out’ set your prices where you want them to be once you are established and offer a discount for clients who support you as you build your biz. be clear that you are in the ‘building phase’ (photographers call this ‘portfolio building’) and that the discounts will only apply until a certain date when you launch your biz.

~ terms like ‘sale’ or ‘discount’ can sometimes undervalue your product. try using words like ‘special VIP prices because you are an important customer’ or ‘special market prices for stall holders and guests only’ or ‘special membership prices’ or ‘a special price to say thank you for passing my name on to 10 friends’... well you get the idea

~ you don’t have to give discounts and have sales or let your friends and family have free suff. part of valuing what you are worth might mean that you just say no to freebies. or maybe you say yes, it’s up to you. either way, make your choice and stand by it.

finally, question the rules...

(just so you know, this is my favourite thing to repeat to myself when i am struggling to wrap my head around any strategy for business: question the rules.)

~ just because ‘everyone else’ is doing it one way does not mean you have to as well. (packages, discounts & sales, multiply by x to get the price, etc. etc. etc.) do what feels right for you and your biz. there is no right formula, no fixed magic number that works.

~ maybe think outside the box to find a strategy that suits your style. some creative pricing strategies i have seen are: letting the customer name the price, letting the customer build their own packages and doing a bidding or negotiating system.

~ some of this advice might be feel like absolute crap to you and your biz. don’t struggle to fit your biz into someone else’s formula. pick out the things that feel right or that will work for you. ditch the rest. =)

ok – that is my mish mash of pricing tips and advice. i hope something in there helps you find your right price. do you have a tip, a bit of advice or a strategy you can add to this list? please leave a comment, i would love to hear from you!

Thursday
Aug192010

{branding} how serious are you?

are you serious about this little biz idea of yours? seriously serious? as in you actually want it to be a success? as in you actually want to make some money selling your ‘thing’?

then look like it.

there are a number of things i have noticed lately looking at little biz websites, facebook pages and emails. a lot of folks who are working on building their little biz don’t give off the appearance of being very serious about it. their look screams hobby. or screams amateur. or, the worst, “i sort of want to sell you something, but my biz is being held together with duct tape, so i will just do my best.”

maybe you are doing this as a hobby. and maybe you are an amateur in your field. and most likely you are super busy and can’t do everything at once. but there are a few things you CAN do, right now that will make you look professional (even if you don’t feel pro right now, fake it!) and will make you look like you are taking your business seriously. (really, if you don’t look like you are taking this seriously, why would you expect anyone else to?)

get a new email address.

using emails like kargunt678@hotmail.com, karheartsbeer@yahoo.com, theguntonfamily2010@yourphoneprovider.com to do business is just plain silly. if you can’t say it out loud, if it is the email your best friends from high school use to find you, if you share it with your spouse, if it will disappear if you change your service provider next year, or if it has ads at the bottom you need to change it.

there is no excuse not to have a dedicated biz email. gmail offers excellent free email, and i am sure there are other choices for you out there, so go get a proper biz email address. your email should simply be your biz name or your full name. no nicknames, cute spellings, abbreviations or random numbers. again, if you can’t easily say your email out loud to a customer, then it is not very effective.

get a professional logo.

i am not saying you can’t design your own logo. i know of some awesome biz logos that were designed by the biz owner, but these folks generally have some design skills, and usually the thing they are selling is their artistic talent. if you are designing and making your logo yourself, do a hell of a lot of research to ensure that yours looks professional. if you can’t do that, hire someone to do it for you. and if you can’t do that right now (you really are just getting started) i think it would be better to have a simple, plain text logo with your biz name rather than have something that looks unprofessional and cheap. 

using clip art, garish or difficult to read colours, difficult to read text and fonts, elements that are not aligned... ugh. these are just some of the things i have noticed lately. pretend you are someone visiting your site/facebook page/etsy page/market stall for the first time. what would you think? pretend you are a customer and have a choice between you and your 3 closest competitors. if you didn’t know you, who would you choose based on appearance alone?

if you just love your logo, but can admit that it doesn’t look pro – then get a designer to turn your idea into something really professional and awesome. your logo is often the first interaction anyone has with your biz. why would you want to ruin that first chance?

get smart about your pricing.

look, i struggle with pricing as much as the next guy. maybe even more (given the hours of sleep i have lost trying to figure out the right price for my products). and i know that when you are just starting out, or when you are running things as a hobby, you either can’t or don’t want to charge too much for your thing. but if you are charging rock bottom ridiculous prices you are sending a very loud and clear message about your stuff.

if you don’t have confidence in your stuff (shown by charging market rates) no one else will. there is value associated with price and it is good if some people find you too expensive. being cheap sends the message that your stuff is cheap.

why does this stuff matter?

all of this stuff is part of the brand you are creating for your biz. it sends a message about the thing you sell. what do you want that message to be? i would bet that: skill, quality, excellence, professionalism and confidence would be on your list. you might not feel like you are all those things right now but you ought to start acting like it! and if your brand is not sending the right message, maybe it is time to change it. just sayin’.

what do you think? i am i being too harsh here? do you think these things matter? do you need help with any of these things? please leave a comment or send me a message, i would love to hear from you =)