Emotionless Pricing
I can imagine as a small business owner pricing can be difficult. Personally speaking, I have a little side hustle where I make and sell clay earrings. I do put a lot of time and effort into the pieces but potential customers are more concerned with the product itself. At the end of the day the goal is to sell. Here are a few pointers on how to take the emotion out of pricing.
Change your mindsetWhen pricing, don't come from a place of scarcity, come from a place of abundance.
Work backwardsFigure how much you'd like to earn in a year and then work backwards.
Take out emotionPretend your pricing items for a friend. It will feel less personal.
Price the valueFocus on pricing the value of your product or service over the time taken.
This may be a bit of a hot take on this topic. Should small businesses exclude emotion when it comes to pricing? Does it depend on the product or service? Let me know what you think!