Jack Mencini and Adam Sonnhalter of Maximum Value Partners discuss a good problem for small businesses in how do you set your selling price if your business is going well on their April 17 Dirty Secrets of Small Business show on WINT 1330 or on their podcast.
Do you look at your competition to analyze and then discount your price? That is a slippery slope for a smaller company. If you look at the competition, do you also reflect on the way they do their business and all the variables associated with that business? Their overhead and equipment could be totally different than your overhead.
If you are going to base your pricing on the competition and a totally different business model, the variances in costs from one business to another should be key in your consideration. If you don’t, it will be like the old adage of comparing apples and oranges. Not a really good formula for your new pricing structure.
Jack and Adam also announced that Dirty Secrets of Small Business is making the move to prime time!
Starting on May 3, the show will air live on Wednesdays from 7:30 pm (EST) to 8:30 pm (EST) right after Tech Talk on WINT 1330 AM. The move to Wednesday evenings has the small business coaches, as part of the station’s must-listen-to lineup with other business shows scheduled to air in the evening time slots.
Do you have any How Questions or need more insight on how to do pricing for your business? Take a moment to email Jack and Adam? Do it by sending your questions to email@example.com or submit a question on their web site on this page.
If you have a success story or a question you would like to share, email or call (firstname.lastname@example.org or 877-849-0670). You can also call in during the show each week during April at noon (EST) – 1:00 pm on WINT 1330 AM, call 440-946-9468 to ask your question to the Maximum Value Partners’ coaches or tweet your question to @MaximumVP.