Archive for March 12th, 2007

What Reasonably Priced Really Means

I’m confused.

What exactly do people mean when they ask that a professional be “reasonably priced?”

One person’s “reasonable price” is going to be another person’s perceived “extravagent, way-out-of-my-league price.”

If someone asks me if I’m “reasonably priced,” my answer is “Sure. I’m very reasonably priced for a seasoned pro with the superior level skills and knowledge that I offer clients.”

I might even think I’m a bit on the “cheap” side.

But a new business owner, one who’s never owned a business before, and perhaps knows little about business and business economics might think I’m really expensive.

On the other hand, a savvy business owner might see that “extravagently” priced service as a bargain in terms of the value and results that I can bring them.

To be perfectly candid, the implication of “reasonably priced” is a bit offensive to me.

If someone asks if I’m “reasonably priced,” do they really mean to ask if I’m willing to devalue myself and what I offer?

Are they asking me to price my service and knowledge at a rate that won’t keep me in business or earn a profit? Are they asking if I would be willing to sell my value at far less than it’s worth?

I understand the need to make the most of whatever resources and budget you have available. But being smart in business means understanding the value of a good investment and thinking strategically.

Sometimes a bargain doesn’t come wrapped as “reasonably priced.”

Sometimes a real bargain costs a bit upfront, but the results are well worth the investment and end up saving you dollars in the long-run.

Don’t be penny-wise and pound-foolish.