Today we’re onto our 2nd part of our Pricing series. We’re going to talk about the nuts and bolts, the down and dirty, how to come up with a price for your products. We’ll walk you through several methods and give you some of the pro’s and cons of each to help you price your products better.
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- Priceing strategy is not based on a “one and done” cookie cutter method. You need to understand multiple aspects of how the market works in order to win.
- Market Price
- Cost price
- Labor rate (day rate)
- Make a pricing spreadsheet in some form for your products using your known labor and costs
- Know what “levers” you can pull to change the price
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