Accelerate Your Profits
Creating sufficient profits for for the long term can be challenging and elusive. Yet for most businesses, the answers are right under their nose.
Many business owners these days are working harder than ever without earning sufficient profits. Some of the issues I see are owners who are:
- Overworked and underpaid
- Delivering more than what they charge
- Struggling to take a regular salary
- Stuck in no growth mode
- Not consistently making significant price increases to keep up with rising expenses
If you can identify with any of these issues then you are probably under valuing your products or services and pricing them accordingly. In other words, you can stand to have a price increase…or two.
What you need to do is set a value based price to ACCELERATE YOUR PROFITS.
Value based pricing is a concept that may be familiar to some but how to determine that has been somewhat of a mystery. Unfortunately, this is why most businesses set prices based on a cost plus (mark up the price a percentage to cost of goods) approach or by measuring themselves to the competition. Neither of these methods accurately capture the value of the product/service and leaves the business exposed to ever changing cost and market conditions that forces the it to rely on increased volume just to break even.
Creating a value based approach to setting your sales price will put you in the top 25% of businesses that have enough margin to regularly reinvest into the business, expand the business, hire more employees, pay good wages, do good and have time to enjoy life
Starting on September 6th I’m going to tackle these issues and more. Join us for this three part series as I guide you to:
- Identify where you are losing profits
- Develop a value based pricing model that will maximize profits
- Effectively communicate (market) the value of your product/service to the right customer that will pay what you’re worth
Schedule ALL TIMES PST
September 6th, 10am – 11am (online) PST – Title: Finding the Gold Within
This will be a deep dive into your last 12 months income statement where I will show you how to perform an audit of your financials so that you can find the areas you are underpriced.
- Audit sale price/unit
- Audit Cost of Goods/unit
- Audit marketing expense
- Audit fixed expenses
September 13th, 10am – 11am (online) PST – Title: Value Based Price Setting/Forecasting
Setting the correct value based price takes into account a variety of objective and subjective measures. Here are some of the items we will cover to help you determine what your product/service is worth. You will:
- Determine your value (what makes you great)
- Establish a value based pricing strategy
- Determine profit goals
- Creating a 3 year forecast
September 20th, 10am – 11am (online) PST– Title: Selling Value Not Price
Customers are willing to pay for a brand. They buy commodities on price. So to effectively sell what you’re worth, you need to communicate the strength of your brand. If you sell on price, you’re telling the customer you’re a commodity. Once you’ve determined your value based price, it is now time to:
- Target the right customer
- Create a clear brand statement that will resontate to your target customers
- Choose the right marketing approach
- How much money/time to spend in marketing
You will receive a welcome email with online link shortly after registration.