Tired of Competing on Price? How to Use Value-Based Pricing to Boost Your Bottom Line | EP 36

FACT: If you’re a small business that’s selling services on the low end of the market, it’s going to be almost impossible to scale your business. You’re also likely to be pretty stressed out since you constantly need to scramble to get new clients, complete their projects at lightening speed to be profitable, and deal with the looming threat of being squeezed out by a competitor who offers an even lower price. Most things naturally drop in price over time, and there’s not much you can do to control that. Disruptive technology, for example, is making things like web design, legal services, marketing, and electronics cheaper by the day. If your only value proposition is a claim to offer the lowest price, that’s a crumbling cliff’s edge to build your business on. Someone will always be able to do it cheaper (or say they can).