Episode 198 of "Small Business Talk," I discuss the importance of pricing and how it goes beyond being just a number. Understanding how people perceive prices and aligning them with value is crucial for small business owners.

I suggest a simple approach to setting prices: Determine your desired annual income and divide it by the number of clients or sales needed. This helps establish the relationship between pricing and the required customer base.

Using package deals, rather than relying solely on hourly rates, is beneficial in the service industry. Offering options like three-month or six-month packages allow customers to choose according to their needs and budget.

Confidence is key to successful sales. Believing in the value of your offerings and your ability to help customers is essential. If doubt exists, reassess whether the product or service should be sold at all.

Price is just a number. Focusing on delivering value, being confident, and aligning prices with customer needs is crucial. By understanding pricing dynamics and finding the right balance, your small businesses will thrive.

Episode 198 - Small Business Talk with Cathy Smith brought to you by CATCO Enterprises.

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