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Over the years I have heard the battle cries  from businesses and sales people about how the competition has such low prices.

"It's killing our business. What can we do?" They cry. 

Often they feel defeated and like they don't have a chance to be successful because these "cowboy" competitors are in the way, with their very low prices. "Shouldn't we lower our prices too?" They ask.

Not necessarily, in fact more often than not, it isn't the best solution. Just because the competition has a lower price doesn't mean you should too. Nor does it indicate that they have a successful business. Nor does it mean that all is lost for you. In fact, it might just be an opportunity.

 To figure out what to do and how to deal with what seems like a rogue competitor you need to understand WHY, they might have such low prices and what it means for you.

My mother always said to me, "Well Janene if your friends are jumping off a bridge it doesn't mean you have to as well." Little did she know I was often leading the charge. But that aside the same thing applies to your business and pricing.

In this Episode

In this solo cast episode I share with you 6 reasons why they might have low prices and why it may not be the same for your business even though you offer the same / similar product, service or software. Then we take a look at what it means you should do. Enjoy the episode!

Highlights:

  - 0:00 Intro

  - 2:41 Who's the target

  - 4:10 Value perception

  - 5:38 How to set prices

  - 6:31 The strategy

  - 9:10 The tactics

  - 10:44 Profit margins

  - 11:24 What to do

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

Join our co-hosts, Certified Health Coaches, Danna Levy Hoffmann, and Megan McCrory, while they explore all things related to health and wellness. You'll learn a ton of new things while having fun at the same time.

https://linktr.ee/sofrickinhealthy

In this episode, I speak with Till Kraemer, who is a mathematician turned social entrepreneur, and is the co-founder general manager of the organisation ICE (Inter Cultural Education) based in Hong Kong. Till has a fascinating love of the world and intercultural exchanges, and he approaches all aspects of life with a curious eye. This approach is embedded in the foundation of the ICE organisation and in our discussion, Till shares a number of stories of the impact that these kinds of exchanges have not only had on him, but also the students and members of the community.

Till shared with us his favourite podcast Dear Hank and John which addresses a variety of topics through two lenses: science and philosophy. He also recommended their YouTube channel, Vlogbrothers. A book that particularly made an impact in Till’s life as a teenager was Roger Penroses's The Emperor's New Mind. A YouTube channel that he absolutely recommends is Geography Now which offers bite-sized engaging history and geography lessons about each country in the alphabet.

To find out more about ICE you can check out their website, find them on LinkedIn, Facebook, Instagram and an excellent Ted Talk on YouTube. To connect with Till, you can find him on LinkedIn.

Visit our podcast website for the full episode transcript

Mentioned in this episode:

Narratives of Purpose is a proud member of the SwissCast Network

Discover more great podcasts for English-speaking Switzerland

SwissCast Network

Welcome to season three of the podcast. Throughout this series, we will continue to shine a light on the changemakers who are having an incredible impact on the world whilst finding innovative ways to build a better future. In this first episode of the season, my guest is Akim Tejan Cole, founder of Maayee Fashion and advocate for fashion activism.

In this discussion Akim talks about his personal experience seeking asylum from Sierra Leone and facing a culture shock in Switzerland as he adjusted to his new life, and how that inspired him to create a way to bridge the gap between individuals from different backgrounds.Tune into his story here.

At the end of each show, I ask my guests for their top recommendations. Akim shared that he enjoys listening to 80’s rap music, particularly Biggie Small. Books that he absolutely recommends are Immortal Self by Aaravindha Himadra and Man's Search for Meaning by Viktor Frankl. And at the moment he is reading Paradise by Abdulrazak Gurnah.

To find out more about Maayee Fashion and the impact being made through this movement, be sure to check out their website and follow on Instagram and LinkdedIn. To connect with Akim, you can find him on LinkedIn.

Visit our podcast website for the full episode transcript.

Mentioned in this episode:

Narratives of Purpose is a proud member of the SwissCast Network

Discover more great podcasts for English-speaking Switzerland

SwissCast Network

Introducing the third season of the Narratives of Purpose podcast. In this new season, I continue to share unique stories of global changemakers and trailblazers, passionate people who are making a meaningful impact in the world. My journey in the next episodes will bring me from Hong Kong to New York via India, Sweden, Ireland and Switzerland. The conversations with my guests will be centered around education, dialogue and understanding, inclusion and equity, but also empowerment.

Welcome to season three of the podcast! Glad that you tuned in, and you are following the Narratives of Purpose in amplifying social impact.

Visit our podcast website for the full episode transcript.

Mentioned in this episode:

Narratives of Purpose is a proud member of the SwissCast Network

Discover more great podcasts for English-speaking Switzerland

SwissCast Network

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"Sometimes it's just as simple as asking for more."

These are words to live by in life and in pricing for your business. Most young businesses start out underpricing. This happens for a variety of reasons by design, lack of confidence, untested offers, their offers often have lower value. But most come to a point in time where they know they must raise their prices. That's when fear often gets in the way. Reality is if you don't test the waters and ask for more you'll never know what's possible.

My guest in this episode has done it himself and seen it with his clients, sometimes you simply have to test your prices and see what happens. Then test it again.

In This Episode:

I sat down with Bob McIntosh, Co-Founder of 3 Degrees Consulting. Bob is a national speaker and entrepreneur having spent over 3,500 hours on stages and helped more than 15,000 people across the US, he’s a #1 Amazon best-selling author and has been personally responsible for helping thousands of entrepreneurs generate millions in profits through digital marketing.

He shares with me his own pricing journey and behaviors he sees in his clients that get in the way of their pricing. That and so much more, so you'll have to give it a listen.

Podcast Highlights

• 00:00 Intro
• 1:58 Getting to Know Bob
• 3:13 The Value Bob delivers clients
• 5:35 How he started
• 7:10 Pricing at the beginning
• 11:39 Internal thinking
• 15:39 Asking for more
• 19:37 Biggest takeaway & wrap up

How to reach Bob:

Facebook: https://www.facebook.com/TheBobMcIntosh

Instagram: https://www.instagram.com/TheBobMcIntosh

LinkedIn: https://www.linkedin.com/in/TheBobMcIntosh/

Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

Send us a text

Ease-based pricing. No it's not a technical term but it some that many people do at the start. For example hourly based pricing can feel like the easy thing to do. The question is, is it the right thing to do? If you do it just because it's easy, it's probably not the right thing to be doing. And just think of all those years you've spent getting great at what you do or your product does. The schooling, the hours of learning, experimenting, getting it wrong, getting it right and making it "easy" for others. Doesn't that count for something?

And just because it's easy for you, doesn't mean it's easy for everyone else. If they were to take the same path as you to know what you know or do what you do, then they too would have to invest all that time, energy and resources to get the results. You're offering short cut of sorts...and that has value. If you're pricing based on ease, then you're ignoring the value you deliver.

In this episode...

That's precisely what this episode's guest found herself doing. Dr. Carrie O. Graham, owner of Carrie O. Graham Learning Solutions and Adult Education Expert confesses she defaulted to what was easy. She soon recognized it left her feeling that what she was charging wasn't matching the time and energy she put it in nor did it reflect the value of her offer.

How to reach Carrie:

WEBSITE: https://learningandsolutions.com/home

Inst: https://www.instagram.com/drcarriegraham/

Linkedin: https://www.linkedin.com/in/carriegrahamphd/

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

Send us a text

Pricing versus the competition may seem like the best and sometimes easiest thing to do in some businesses. In other businesses, where there's less price transparency, it may feel like you're missing out on a key piece of price setting information because you have no idea what the competition charges.

Of course the competition is an important pricing consideration for many but what does it mean for your business? Can you only know what price to offer when you know the competition?

It begs the question, should I based my prices on the competition?

In this episode, we break this down and talk about when and how to use the competition when it comes to price setting in your business.

Podcast Highlights

  - 0:00 Introductions

  - 1:23 What's Your Strategy?

  - 3:08 Small business specificities

  - 4:59 Rules of Thumb

  - 7:24 When not to

  - 8:50 How to use it

  - 10:11 Wrapping it up

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

Send us a text

Making the shift from job to entrepreneurship can be tricky. Pricing is one area where most people have no idea where to start.  They end up making it up as they go along, which leads to mistakes & a lot of wasted energy. Finding the right prices is more difficult than needed and the uncertainty in your prices makes communicating them feel incredibly awkward. Of course, learning the hard way may also lead to some great successes. Probably with more pain than necessary along the way.

What can you do? Listen to others who have gone before you. Learn from their mistakes and successes. Someone like my guest on this weeks' show.

In this episode I sat down with Kristen Westcott, online business strategist and copy writer for coaches. When she started her business she made two simple mistakes. She's also seen, as a coach herself, how others struggle with pricing. We can learn from her experience and better understand what doesn't work and what does.

Reach Out to Kristen:

https://www.instagram.com/kristen.westcott/

https://www.kristenwestcott.com/facebook

https://www.linkedin.com/in/kristenwestcott/

Book Recommendations:

The Work, by Byron Katie

Delivering Happiness, by Tony Hsieh

The Big Leap, by Gay Hendricks

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

Send us a text

Aligning the price to the value you deliver makes sense. But too often it's simply not the case.

Selling a high value offer at a low value price is a situation many businesses find themselves in. Often because they don't understand the value of what they're offering. Sometimes that's combined with a lack of confidence in charging the higher price. Either way the result is the same, they're undervaluing their offer. 

That's what I spoke about in this episode with Amanda Berlin, she's a visibility and business consultant for entrepreneurs. Helping them grow their business and impact based on tactics used and honed over 12 years in the corporate PR world. 

We talked about how the first step is awareness, because only once you know the problem can you start to solve it. Only then are you ready to raise your prices. There are many ways to go about it. This is one of the things that Amanda shares with us in this episode of Live with the Pricing Lady. She realized she was selling a high touch, high ticket offer at a low ticket price. What did she do? You'll have to listen to find out.

Reach out to Amanda:

• Instagram: https://www.instagram.com/amandagailberlin/
• LinkedIn: https://www.linkedin.com/in/berlinamanda/
• Facebook: https://www.facebook.com/amandaberlin
• Twitter: https://twitter.com/AmandaBerlin

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.