In this episode of Ambitious, I discuss the critical signs that your pricing strategy might be broken, leading to burnout and lack of growth. With over 70% of service-based businesses undercharging for their offers, I explore the detrimental effects this has on scaling your business and personal well-being. We talk through seven common pricing mistakes and dive into a six-part framework designed to help you set strategic, intentional prices. From understanding your costs and evaluating brand positioning to competitor analysis and the importance of credibility, this episode offers a comprehensive guide to revamping your pricing strategy. Plus, I share personal experiences and insights on how the right pricing can energize you and your business. Tune in to learn how to confidently command your prices and scale your business effectively.

00:00 Introduction

01:39 Common Pricing Mistakes in Service-Based Businesses

09:39 The Accessibility Trap and Its Consequences

13:55 Competitor-Based Pricing: Pros and Cons

17:58 The Importance of Profit Margins

30:49 Steps to Determine Your Pricing

37:39 Understanding Hourly Value and Team Costs

39:43 The Importance of Knowing Your Costs

40:26 Brand Positioning and Pricing Tiers

47:34 Competitor Analysis and Pricing Strategy

51:09 Credibility and Expertise in Pricing

55:28 Client Desire and Outcome Value

59:41 Emotional Alignment and Pricing

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