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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Key Takeaways

  • 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)

Homework

  • 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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