How to Price Your Services | Business.com

Coming up with a business idea is only half the battle. Determining a price for your services is another huge part. As business owners, you need to determine a price for your services before you can start offering them to potential customers, and if you can’t offer your services, you can’t make any money. So setting a proper price is one of the crucial first steps in setting up your business.

“Pricing is a mix of art and science,” said Blair Enns, published author and CEO of Win Without Pitching. “For customized service firms – where each engagement is a blank slate of possibilities – it’s mostly art. For productized services, which are intended to scale to many clients or customers, there’s more science in the form of competitive analysis and audience segmentation.”

Business.com community member Jessica Federman asked fellow members how people charge for a PowerPoint presentation. The truth is PowerPoint is a service that should be customized to each individual client, because each one will have different needs. Therefore, it is important to determine pricing for the client, as opposed to for the job itself.

Enns said the basis for the different prices should not be the time it takes to do the work or the number of slides, but rather the value of the presentation to each individual client or organization.

“Different clients will and should pay different prices based on the value of that PowerPoint design to the client,” he said. “For example, a PowerPoint presentation for a solopreneur small business coach that would be used to pitch new clients should be priced differently than a presentation the CEO of Microsoft would use to pitch his new strategic vision to the board of directors.”

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How to Price Your Services.