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002 - Understanding your Costs
What You’ll Hear:
In this episode of the Profit Plus Podcast, host Kesha Hill discusses the critical topic of pricing services for service-based businesses. She covers the importance of understanding and calculating various costs, including direct, indirect, variable, and fixed costs. Kesha provides a step-by-step guide to determine the cost per hour and explores different pricing strategies such as cost-plus pricing, value-based pricing, competitive pricing, package pricing, and tiered pricing. She also discusses how to adjust pricing based on market and client factors and the importance of effectively communicating prices to clients. Tune in to learn how to set prices that ensure profitability and reflect the value of your services.
Chapters:
00:00 Introduction
01:19 Understanding Your Costs
02:12 Types of Costs in Service-Based Businesses
03:05 Indirect Costs
03:40 Variable Costs
04:09 Calculating Your Costs
05:48 Exploring Pricing Strategies
07:52 Adjusting for Market and Client Factors
09:02 Communicating Your Prices Effectively
09:54 Conclusion and Final Thoughts
▼Connect with Us▼
🔗 WEBSITE - https://www.instagram.com/tailored_bizsolutions/
🔗 INSTAGRAM - https://www.instagram.com/tailored_bizsolutions/
📧 EMAIL - [email protected]
#pricingstrategies #servicepricing #profitabilitytips #costcalculation #pricingservices #businesscosts #costmanagement #pricingmodels #valuebasedpricing #costpluspricing #competitivepricing #packagepricing #tieredpricing #freelancepricing #marketingcosts #financialsustainability #businessgrowth #profitmargins #clientnegotiation #pricingtransparency
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By Kesha HillWhat You’ll Hear:
In this episode of the Profit Plus Podcast, host Kesha Hill discusses the critical topic of pricing services for service-based businesses. She covers the importance of understanding and calculating various costs, including direct, indirect, variable, and fixed costs. Kesha provides a step-by-step guide to determine the cost per hour and explores different pricing strategies such as cost-plus pricing, value-based pricing, competitive pricing, package pricing, and tiered pricing. She also discusses how to adjust pricing based on market and client factors and the importance of effectively communicating prices to clients. Tune in to learn how to set prices that ensure profitability and reflect the value of your services.
Chapters:
00:00 Introduction
01:19 Understanding Your Costs
02:12 Types of Costs in Service-Based Businesses
03:05 Indirect Costs
03:40 Variable Costs
04:09 Calculating Your Costs
05:48 Exploring Pricing Strategies
07:52 Adjusting for Market and Client Factors
09:02 Communicating Your Prices Effectively
09:54 Conclusion and Final Thoughts
▼Connect with Us▼
🔗 WEBSITE - https://www.instagram.com/tailored_bizsolutions/
🔗 INSTAGRAM - https://www.instagram.com/tailored_bizsolutions/
📧 EMAIL - [email protected]
#pricingstrategies #servicepricing #profitabilitytips #costcalculation #pricingservices #businesscosts #costmanagement #pricingmodels #valuebasedpricing #costpluspricing #competitivepricing #packagepricing #tieredpricing #freelancepricing #marketingcosts #financialsustainability #businessgrowth #profitmargins #clientnegotiation #pricingtransparency