Design a premium pricing structure


  1. Regularly reevaluate your pricing structure.
    Have you added new services? Have your clients experienced success from your work? Periodically assess your pricing to ensure it reflects your current level of expertise and the impact you have on clients' businesses. If your skills and the benefits you provide have grown, adjust your prices upward.
  2. Position your business as premium.
    Look at your competitors' pricing and deliberately set yours higher. This marks you as a premium option. Write down three reasons why your service is superior (e.g., faster results, personalized service, exclusive methods) and use these as your justification for higher prices.
  3. Ensure sufficient profit margins..
    Determine the lowest profit margin you can accept that still allows you to solve problems and maintain quality. If a project falls below this margin, don't take it. This might be a 30% margin, for example. Regularly review your costs and pricing to ensure you stay within this level.
  4. Design a flexible pricing model.
    Create service packages that include buffers for unexpected work, thereby avoiding change orders. For each service you offer, list potential extra demands clients might have and integrate a buffer into your pricing. This way, you're covered for the "just in case" scenarios without needing additional charges.
  5. Shift to value-based pricing.
    Move away from hourly billing for strategic work. Instead, set project or outcome-based fees. List the outcomes your strategic work achieves (e.g., increased sales, improved efficiency) and set flat rates that reflect these outcomes' value to your clients.
  6. Scale prices with client size.
    Develop a sliding scale for your fees based on client size and the potential value they gain from your services. Larger businesses should be charged more. Outline criteria for determining client size (e.g., annual revenue, number of employees) and adjust your pricing accordingly.
  7. Allocate a percentage of your profits for reinvestment.
    Decide on a percentage of your profits to reinvest in your business each year. This could be into new technology, training for you or your team, or marketing efforts. For example, commit to using 10% of your annual profits for professional development.


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