One Creative Moment is a daily email for founders, owners, and creators. You'll get insights, irreverence, and inspiration to help you build a better business & live a more creative life.
Value pricing explained perfectly (at least for me)
|
If you work with clients on custom projects and have ever toyed with the idea of using value pricing, perhaps this framing will help you too! In a recent piece, friend of the list (and Ditching Hourly host) Jonathan Stark cleared it up for me in a big way. He pointed out that people want to work with you because they believe that what you do “…will improve something that contributes to the bottom line.” (They wouldn’t be spending a part of their one wild life talking to you for no reason, right?) He goes on to say, “The trick is finding out what the something is before you set your prices.” Aha! So, value pricing is doing super deep market-of-one research before setting your prices. I replied to Jonathan, thanking him for putting it thus, and he went even further in his reply, saying, ‘‘Yes! (And only after you set your prices do you decide what you can do for them at that amount).” Wow! So, to summarize, value pricing means:
I don’t know about you (or if you’ve had trouble making sense of it like I have), but this clears things up immensely for me! Clearly, |
One Creative Moment
by James E. Turner
One Creative Moment is a daily email for founders, owners, and creators. You'll get insights, irreverence, and inspiration to help you build a better business & live a more creative life.
Not to be that “newsletter recommending” guy, having just yesterday drawn your attention to a new one I’m enjoying. But this has to be done and has to be done now. (I had meant to do it before the start date! But, life…) So I’m sharing this in case you would also find it interesting: Craig Mod’s latest pop-up newsletter, “The Return to Pachinko Road.” It’s, as Craig puts it, “…an 18-day pop-up walk, walking 600km from Kyoto to Tokyo along the Tōkaidō (“Pachinko Road”). Starting on May 14,...
Just read the second issue of a promising new newsletter from Finn McKenty. (I know him from LinkedIn, but am most intrigued by what he has to say about making YouTube work.) It included this painfully true quote: “… opportunities usually go to the people who are the most visible, not to the people who “deserve” them.” If you needed an extra boost to help you put yourself out there (or remind yourself why you’re doing it in the first place), there you go. There I go, too! Be seen, James
Think about the way your living space is set up right now. Has it always been that way? I’m guessing not. And yet, I was reflecting today that to our children, our kitchen/dining arrangement, for example, must seem permanent. Things that to them are the only way-things-can-be are, to us (Kayte and me), more like something we’re trying out “for now.” To them, this house is the seat and centre of tradition. To us, this is our suburban bungalow period. (Note: I’m not saying they’re wrong, nor...