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It’s Not Your Job to Save Your Customers Money. Here’s How to Overcome the Anxiety of Pricing | Inc.com

I call it the “Pricing Panic.” It’s when you are talking to a client about pricing, and you assume that there’s no way they’ll ever pay your price, so you start thinking of ways to discount the price before the conversation even starts.

It’s one of the most challenging things about starting a business, especially a service-based business. What do you charge for your product or service? How you answer that question will say a lot about how you value what you do, and what you want others to think.

Here’s the thing; your clients are grown-ups. It’s not your job to figure out how to save them money.

You’re not alone.
It’s not that uncommon among small business owners to have this nagging doubt in the back of your mind. “Will they think I’m too expensive?”

“Their budget can’t be this high, there’s no way they’re going to pay this.”

“What if they laugh at me?”

The key is to figure out what’s causing you to doubt your value to a potential client, and develop a game plan to get past it. Here are four tips that will help you be confident in your pricing conversations with clients:

1. Do your homework.
Your pricing should be based on your expenses plus a profit. If it’s a business, making a profit is important–and your pricing should reflect this. The only way to really have confidence in your pricing is to do the hard work of figuring out what you should charge, based on what it costs you to be business.

Once you know that what you’re charging is based on your business, and the value you bring to the customer, it’s much easier to stand behind your pricing. When you know that you’re charging what you’re worth, it’s much easier to talk about it with confidence.

It’s also less intimidating when someone says no since you recognize that it’s not worth it to be working for less than what you’re worth.

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It’s Not Your Job to Save Your Customers Money. Here’s How to Overcome the Anxiety of Pricing | Inc.com.

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