I am an established contracting company but shifting my business into administrative consulting geared for building contractors. I am unsure how to price my services as this is a new approach to business for me. Any guidance you can offer would be appreciated. —LS
That’s wonderful that you already have your target market figured out. And oh, we have LOTS of resources for you!
The first place to start is to download the free ACA Income & Pricing Calculator. Once you complete the fields, it will automatically calculate a baseline for what you and your business need to earn. This is often quite eye-opening for those who go through the exercises.
Pricing is also a frequent topic of conversation here on my blog for obvious reasons—it’s integral to the financial health, well-being and sustainable of our businesses, not to mention part of our marketing. How you price is a vital part of your positioning statement. That is, what your pricing is telling potential clients and what kind of clients it attracts.
Be sure and read the back posts on these blog categories:
I also teach people how to implement value-based pricing in their businesses to get off the billable hour trap and be able to serve clients better. You can learn more about my value-based pricing training and why billing by the hour (selling hours) is killing your business here. (Be sure to watch the video, too!).
Hope that helps!