Strive not to be a success, but rather to be of value.
– Albert Einstein
I want to talk about value-based selling and why it’s helpful. With value-based selling, you can determine a fair price that the customer should pay. To do this, focus on the value your product or service provides rather than its cost.
For example, if I spent $100 making a product, that doesn’t mean I should charge $150 for it. The product might only be worth $115 in terms of its actual value. Similarly with services like editing: even if my editing software costs me $100, that doesn’t mean my work is automatically worth that amount. You must set prices based on the perceived value.
When working with popular clients or successful YouTubers, consider the effort and hard work involved in providing high-quality results using advanced tools. This added effort increases the overall value of your service and allows you to charge more accordingly.
Remember not to base prices solely on your expenses; instead, think about what price reflects the true worth of your offering.
Read the original topic from Josh Kaufman: https://personalmba.com/value-based-selling/
That’s all for now—see you next week!