Setting a price for your work is the hardest task for the solo professional. Here is step-by-step guidance on how to know your numbers and set your fee for your services as a solo professional.
Understand the basics Federal contracting process. Why is BD necessary? Do you really understand capture? Why you really need to integrate your BD and Proposal process to win more business. This presentation is the start of a series and very high level. Useful for someone new to the federal contracting and proposal process. It is also useful for Public sector employees transitioning into Private sector.
Presentation held at the Stockholm Value-Pricing Meetup on May 10, 2016 covering the basic ideas of value-pricing (value-based pricing), why it is in many ways superior to cost-plus or hourly billing and why you should adopt it.
Understand the basics Federal contracting process. Why is BD necessary? Do you really understand capture? Why you really need to integrate your BD and Proposal process to win more business. This presentation is the start of a series and very high level. Useful for someone new to the federal contracting and proposal process. It is also useful for Public sector employees transitioning into Private sector.
Presentation held at the Stockholm Value-Pricing Meetup on May 10, 2016 covering the basic ideas of value-pricing (value-based pricing), why it is in many ways superior to cost-plus or hourly billing and why you should adopt it.
Startups are cool. They are Sexy. But why do people fail so often. This presentation talks about some insights on startup culture. Being a part of IT culture from quite some time I usually speak with startups and discuss their problems, viewpoints and solutions. It's an attempt to bring some key challenges and solutions to a common platform. Thoughts welcome.
7 Lessons Helping Start Pardot, SalesLoft, and Calendlysaastr
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Selling Power sponsored webinar*
As sales professionals in today's competitive market, our customers and prospects demand more from us than ever before. We are expected to be advisors, consultants, and collaborate with relevant solutions for their business. To become that advisor, not only do we need to have current knowledge on our company's products and services, we need to also have business acumen and knowledge to be credible and relevant.
Greater Phoenix SCORE presentation on what you need to do when you are starting your own business. What entrepreneurs need to know about small business start-ups.
The secret to salary negotiation involves timing, preparation, and not being the first person to blurt out a number. This short presentation offers tips from the hiring manager's perspective on how to approach salary negotiation, and how to ask for more than you want to end up with exactly what you need.
Presented by John Ashraf, Product Owner for Pricing & Portfolio Management at SKIM
At first glance, setting your price seems like no sweat, but getting it right can be a real challenge. Consumers make their decisions in real-life, with all of its complexities. That said, the revenue you can make with strategic pricing is highly rewarding and the process can be fun and insightful. In this webinar, John Ashraf, Product Owner for Pricing & Portfolio Management at SKIM, brings practical and solid solutions for traditional and contemporary pricing issues.
Pricing outcomes and insights are generally discussed across a wider group of stakeholders: finance and operations; marketing, brand, and category managers; and sales, account, or channel management. What does each of these stakeholders use in order to make a decision, what do they expect in a changing daily reality, how are they using the insights and outcomes, and what do they decide based on the outcomes or based on their mutation of the outcomes? We tackled how to fulfill the needs of your stakeholders and make them happy while sticking to the solidity of the insights.
John also touched on the changing reality of strategic pricing. What’s new, what will change, and what it means for you as an insights professional in the context of generating and using pricing insights. We talked about e-commerce pricing, the mobile reality, and more new trends in pricing.
Drug Forecasting in the Age of Personalized Medicine – The Only Way is Mobile!SKIM
An innovative approach to drug forecasting – in-the-moment mobile research enables collection of robust data close to the point of prescription. Applied to forecasting the advantages are significant – individualized data accounts for the increasingly personalized approaches to treatment based on bio-markers. Furthermore, the mobile platform enables collection of more qualitative information to supplement the quantitative, delivering robust yet holistic outcomes.
Startups are cool. They are Sexy. But why do people fail so often. This presentation talks about some insights on startup culture. Being a part of IT culture from quite some time I usually speak with startups and discuss their problems, viewpoints and solutions. It's an attempt to bring some key challenges and solutions to a common platform. Thoughts welcome.
7 Lessons Helping Start Pardot, SalesLoft, and Calendlysaastr
David Cummings is the co-founder of the Atlanta Tech Village, Pardot which sold to ExactTarget/Salesforce.com, Hannon Hill, Rigor, SalesLoft (raised over $75M in capital), Terminus (raised over $25M in capital), and several more. Join him for a session on lessons learned over the years through Pardot to Calendly.
TiE Sales Masterclass - Guerrilla WarfareTiE Bangalore
Guerrilla Warfare: the art & science of early-stage selling in the B2B world, by our Charter Member Rajiv Raghunandan (Managing Partner, seedX & Arali Ventures)
Selling Power sponsored webinar*
As sales professionals in today's competitive market, our customers and prospects demand more from us than ever before. We are expected to be advisors, consultants, and collaborate with relevant solutions for their business. To become that advisor, not only do we need to have current knowledge on our company's products and services, we need to also have business acumen and knowledge to be credible and relevant.
Greater Phoenix SCORE presentation on what you need to do when you are starting your own business. What entrepreneurs need to know about small business start-ups.
The secret to salary negotiation involves timing, preparation, and not being the first person to blurt out a number. This short presentation offers tips from the hiring manager's perspective on how to approach salary negotiation, and how to ask for more than you want to end up with exactly what you need.
Presented by John Ashraf, Product Owner for Pricing & Portfolio Management at SKIM
At first glance, setting your price seems like no sweat, but getting it right can be a real challenge. Consumers make their decisions in real-life, with all of its complexities. That said, the revenue you can make with strategic pricing is highly rewarding and the process can be fun and insightful. In this webinar, John Ashraf, Product Owner for Pricing & Portfolio Management at SKIM, brings practical and solid solutions for traditional and contemporary pricing issues.
Pricing outcomes and insights are generally discussed across a wider group of stakeholders: finance and operations; marketing, brand, and category managers; and sales, account, or channel management. What does each of these stakeholders use in order to make a decision, what do they expect in a changing daily reality, how are they using the insights and outcomes, and what do they decide based on the outcomes or based on their mutation of the outcomes? We tackled how to fulfill the needs of your stakeholders and make them happy while sticking to the solidity of the insights.
John also touched on the changing reality of strategic pricing. What’s new, what will change, and what it means for you as an insights professional in the context of generating and using pricing insights. We talked about e-commerce pricing, the mobile reality, and more new trends in pricing.
Drug Forecasting in the Age of Personalized Medicine – The Only Way is Mobile!SKIM
An innovative approach to drug forecasting – in-the-moment mobile research enables collection of robust data close to the point of prescription. Applied to forecasting the advantages are significant – individualized data accounts for the increasingly personalized approaches to treatment based on bio-markers. Furthermore, the mobile platform enables collection of more qualitative information to supplement the quantitative, delivering robust yet holistic outcomes.
Presented by:
- Ji-Hoon Dierckx, CMK Associate Director at Procter & Gamble
Currently leading Gillette Consumer and Market Department for Europe, IMEA and Asia
- Dirk Huisman, Founder and Chairman of SKIM
- John Ashraf, Pricing and Portfolio Director at SKIM
We began by answering a variety of business questions and unraveling the different stakeholders’ perspectives and needs across different industries. As you well know, outcomes and insights are generally discussed across a wider group of stakeholders: finance and operations; marketing, brand, and category managers; and sales, account, or channel management.
What does each of these stakeholders use in order to make a decision, what do they expect in a changing daily reality, how are they using the insights and outcomes, and what do they decide based on the outcomes or based on their mutation of the outcomes? We dug deep into the so what and what’s next questions they will have. In the morning, attendees learned based on active participation in case studies and roleplays.
In the afternoon session, we dug deeper by tackling how to fulfill the needs of your stakeholders and make them happy while sticking to the solidity of the insights. For each issue, we showed how to generate the insights. We nailed down what’s possible and not and what the strengths and weaknesses of the different options are.
At the end of the workshop, we discussed the changing reality of strategic pricing. What’s new, what will change, and what it means for you as an insights professional in the context of generating and using pricing insights. We dug into e-commerce pricing, the mobile reality, and more new trends in pricing.
Automotive Product & Marketing Innovation For MillennialsGood Rebels
The Spotify and Netflix generation is as comfortable sharing and subscribing to their driving options as they are to their entertainment. Smart players will place equal emphasis on monetising services as they will innovating their product range.
If the trends seen in this report become reality, a business based purely on production and volume sales will fail. Traditional OEMs must become service-based businesses to thrive.
Find out how to thrive if you are a product or marketing automotive professional.
How to charge what you are worth for solo-based businessesJackie B Peterson
Under charging is the main reason for failure when you're working for yourself. Learn how to stop sabotaging your efforts and set yourself up for success.
How to Scale an Award Winning Remodeling BusinessSurefire Local
Two successful entrepreneurs in the home remodeling business share their experiences on how to succeed in the home remodeling industry.
Mark Richardson is regarded as a pioneer in developing standards of professionalism in the residential remodeling industry. He served as President and Co-Chairman of Case Design/Remodeling, one of the leading remodeling organizations. He now assists others as a national educator, speaker, author of books including the best-seller “How Fit is Your Business?” as well as “Fit to Grow.” He’s columnist and contributor at Professional Remodeler magazine and advisor to leaders across the industry. During his weekly podcast, “Remodeling Mastery” Mark offers up actionable tips and industry wisdom listeners can put into practice for their own business success.
As Owner & President, Chad Hatfield’s belief in team building, product quality, customer value, and the importance of branding has been crucial to Hatfield Builders & Remodelers being one of the most influential remodeling businesses in the Greater Dallas Area. He lives and works by a pay-it-forward mentality in which he shares his experiences and learnings to to help mentor other remodelers. His company has won countless awards for their excellent work (Awards include: best of Houzz in design & service in 2015, remodeling big50, and many more), including recently being chosen for the Model Remodel project. Chad himself is also a CotY award winner, and he has the real hands on experience it takes to know this business inside out: certified Remodeler (CR)*, Certified Kitchen & Bath Remodeler (CKBR)*, (NARI).
Do you want to talk to somebody who can help you set up your digital marketing goals? Email us at info@surefiresocial.com
David Jacobs Software business broker overview 2021David Jacobs
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It doesn’t matter how many leads you have; it matters what you do with them. Buyer and seller leads are only as valuable as the time and effort an agent puts into them – from seeking out high-quality leads to nurturing and incubating them to converting them into clients who know, like, and trust you.
It is a given that we will all exit our business at some point - willingly or not! - and it is never to soon to start planning that exit.
There is a link at the end of this deck to the associated blog and webinar recording
The Money Path can help you look at your business differently. It guides you through a process to evaluate your products and services and their potential to earn money prior to implementation.
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This deck is free for anyone to modify and use, but please keep in mind that I do not own copyrights for most of the images on those slides (with some exceptions).
Get a merchant to offer a discount on their product or service and proceed to market that discount to their audience for a set period of time or until the offer sells out. The primary sales and persuasion triggers that daily deal and coupon websites typically use is urgency, scarcity, and convenience.
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http://www.blog.househuntnetwork.com/pre-listing-presentation-preparation/#.UzNk7cRDv-Q
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Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
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3. How do you price your
products or services?
What you have to know:
• Your costs
• Your competition
• Your break even
• Your expenses (business and home)
• Your future plan: Profit to grow and invest
4. Pricing
Pricing must be high enough to:
• Cover costs
• Cover expenses: overhead and taxes
• Create profit
• Pay off loans
• Pay owner
• Allow some reserves for growth
5. Pricing Range
• The low range is just enough to break even
• The high range pushes the envelope-the customer
may refuse to pay or finds an alternative
• If the customer complains about the price AND your
price is reasonable, you have not clearly articulated
your value strategy!
6. Pricing Message
How we price says a lot about us.
• If we price at the very low end……..
• If we price at the very high end……
• Why is it that so many small businesses are reluctant
to charge enough for their product or services?
7. Pricing Competition
How to find out about the competition
• Web site
• Price lists
• Visits to their locations
• Call and ask
• Ask customers
• Pay attention in the market place
9. Pricing
• Pricing is part of your brand
• Pricing positions you relative to your competition
• Pricing positions your product and your company
in the marketplace
• Pricing is where actual cost and perceived value
come together
11. Elements of a Price
• Direct costs of product
• Overhead or Costs of running your business
• Non starvation costs
• Your commitment to your household
• Taxes
• Planned profit (also debt service and reserves)
• Customer perceived value
12. Calculate the Price
Add up all the elements of a price
• Get an annual total
• Divide by 12 for a monthly total
• How much money do you need each month?
• Divide by how many units you can sell in a month
• Result: minimum price per unit
13. Calculate Your Price
My direct costs
My overhead:
Non starvation add on:
(i.e. health insurance, retirement,
college fund, vacations)
Share of household*:
Taxes:
Planned profits:
Total All Costs*
* give me your card and I will send you work sheets
14. Check Your Price
• What are others selling for?
• Is your calculated price much higher?
• Can you justify it with quality or differentiation?
• Is your calculated price much lower?
• Explore
• Check the competition
15. How Can I Increase My Price?
• Better Experience
• Minimize Risk
• Create New Client
Opportunities
• Upselling
• Save the Customer Money
• Branding
• Help Customer Achieve
Goals
• Problem Solve
Increase perceived value
16. How Can I Increase My Price?
• Improve your quality
• Know that quality often means customer service
• Don’t settle for “good enough”
• Don’t aim to be the low cost provider
• Price for value then work like crazy to support that
value (increased skill, education, benefits)
17. How Can I Increase My Price
• Never sell by the hour
• Create packages of products and/or services
• Offer a payment plan
• Take Credit cards
• Look at your pricing regularly (at least once a year)
• Never go lower than $50 per hr.
18. How Can I Increase My Price?
• Customers buy value!
• Vustomer buy benefits, not features
• Always be ready to talk about what they get when
they buy from you
• When they ask price, answer with value
• Ask questions, listen to what they want and need
19. Selling Time
• If your business is a consultancy, training, or some
other offering that is time only, you will not have a
gross profit margin like those selling a product.
• Instead, make an assumption about billable hours.
• There are 173 hours per month
(40 hours per week x 4.33 weeks)
20. Selling Time is Different
• Assume that of those 173 hours, you will only
have between 40-65% as billable time
(69-103 hours)
• You must earn all your money and cover your
expenses in those 69 hours
• You cannot survive freelance billing less than
$50 per hour at a minimum
21. Managing Costs
• Clear product specifications
• Excellent design
• Shopping well (combine orders, look for new suppliers,
buy in larger quantities, watch for storage or perishability
issues)
• Reduce Waste
• Increase labor efficiency
• Be ready for the work to be done
22. Managing Expenses
• Budget
• Compare budget to actual
• Delegate responsibility to others and hold them accountable
• Contracts-get it signed
• Keep your financial records current
• Control waste
• Comparison shop
23. Let’s Do a Problem
A graphic designer:
Annual costs: $30,000 (does not include a salary)
(including rent, phone, travel, auto, marketing, insurance,
office administration, office supplies, legal, bookkeeping,
etc.)
Target Income: $40,000
(taxes will be $8,000. Plus $10,000 to reinvest in the company
cont. ed, trade show, advertising campaign, new computer)
What should be the minimum billing rate?
24. If You Do Not Charge Enough
• No money to hire “waterbug” outsources help
• No money to renew and replenish yourself
• No money to take a vacation
• No money to invest in retirement
• Besides: People Think You are Not Any Good!!!!
25. If You Do Not Charge Enough
People will refer you:
“Hire Mary, you can really get a deal!”
The referral you want:
“Hire Mary, she is spendy, but it is worth every penny.”
Do not be the low cost provider!
26. Quote a Price/Close the Sale
• Know the price: Know your own bottom line
• Practice dealing with any objections
• Practice what you will say
• Feel confident
• Decide how much you want this project
27. Other Strategies
• If it does not sell, raise the price
• Package things together
• Offer smaller bites
• Ask your customers for feedback and input
• Consider the “soft” elements such as: Customer
service, delivery times, selection or variation, time
of year, lead time
28. Other Strategies
• Always follow up
• Ask Closing Questions:
• Are you ready to get started?
• Would you like to schedule an appointment?
• Shall I draw up a contract?
• Shall I finalize the details?
• Do we have a deal?
• What is the best time to deliver?
29. Other Strategies
• Learn to talk with a pen in your hand
• Always say “Thank You”
• Make sure all documents are signed
• Only offer to reduce your price as a last resort…
and then only as a one-time discount
You can always go down but never go up.
30. Learn more about Jackie’s
programs and products at
BetterSmarterRicher.com
Your solo business journey starts here.