Pricing Is Positioning

Here is a question I get asked often: “Should I publish pricing on my website?” When discussing both product types, productized and customized services, the answer really depends on where you are in your consulting business and whether you're established or just starting out. In this episode I delve into this topic, offer insights, and examples as to when it’s best to list your prices versus when to leave them off of your site. If you have thoughts around this week’s topic, I'd love to hear from you. Use the links below to connect with me and tell me what has worked for you and your business. In this episode, I’ll cover these topics: Why new consultants, freelancers, or brand experts should NOT list their pricing on their website Some reasons established consultants may want to INCLUDE their pricing on their website The risks vs. the rewards of not including your pricing on your website When it makes sense to include pricing regardless of years in business Products vs. customized services and pricing Connec

When you're first starting out, or even if you're a seasoned professional, you can fall into the “stench of desperation” trap. What do I mean by that? Well, have you ever had this happen? You send out a proposal. Then after five minutes, you begin to wonder why you haven’t received a response from the prospect. And then the obsessive thoughts start to kick in.   “Has the prospect received the proposal or did it get lost in cyberspace?” You then continuously hit refresh on your email inbox. And, you’ve even begun to draft a follow up email. Next comes, “Was my quote too high?” You begin to beat yourself up and start planning how to broach the subject of discounting your fees if you do get pushback on your original proposal quote. Finally, you get to the part where you throw up your hands in exasperation and decide, “That’s it. They just don’t like me.” It’s now been 10 minutes since you’ve sent the proposal and you’ve already thrown in the towel. That, my friends, is what I mean by the stench of desperation. I

If you're a consultant, have a personal brand, or are a freelancer, one of the questions you might be asking is, “How do I create my first product?” In this week’s episode, I am going to share how to create and launch your first knowledge product.   First, the product you create is going to be wrapped around your area of expertise or knowledge that you want to monetize, which is why I like to call it a knowledge product. Before we dive into creating your first product, you need to know what a knowledge product is and what actually makes a good product.  I break down the different types of knowledge products you can have and then provide the steps needed to launch your product, successfully. If you're looking at taking advantage of today’s digital and knowledge-based economy, this episode is the one you won’t want to miss. In this episode, I’ll cover these topics: The various kinds of knowledge products, including e-books, online courses, paid webinars, paid masterminds, group coaching, and more One way to st

We all can agree that we want more revenue or income in our business, right? We also can agree that oftentimes in business we find ourselves taking the feast or famine approach. What if I told you that you could work a model that would not only allow you to increase your revenue streams, but essentially eliminate the feast or famine approach from your business, altogether? It’s true. In today’s episode, I am going to share with you how to implement 3 pillars of revenue in your consulting business for maximum success. How do I know the 3 pillars of revenue work? Well, I left my job, security, and career after 18 years in practice.  One of the things I had to do was figure out how to pay the bills quickly. Not only did I do consulting work during that time, but I also incorporated two of the three pillars into my business model. What I say is not absolute, but I like to share what worked for me and this approach did work. I think 3 pillars of revenue might help you move your consultancy and business forward to

This week I am excited to bring you my first podcast interview with guest Blair Enns, Founder, of Win Without Pitching and author of Pricing Creativity: A Guide To Profit Beyond The Billable Hour. If Blair’s name sounds familiar to you, it may be because I’ve talked about him in some of my past episodes. I'm just so honored that he was able to be my first guest because he is an inspiration to me and the work I do. In fact, his book, Pricing Creativity, was the inspiration for the name of this podcast! In addition to being an author and entrepreneur, Blair co-hosts the podcast 2Bobs, Conversations On The Art of Creative Entrepreneurship, with David C. Baker. He also lectures throughout the world on how creative professionals can win more business at higher prices and lower cost of sale. Sound familiar? In this episode, Blair and I discuss value-based pricing, including the purpose and benefit of using this pricing strategy. Plus, we talk about some ways to implement value-based pricing in your business. In thi

In this week’s episode, I want to share with you five pricing arrangements for your consultancy business and why I don't think you should be charging by the hour. Some of the pricing options I share in this episode may be new to you. And, that’s okay. I’ve shared this information with professionals in workshops and events, and they too were unaware of the different pricing arrangements that could be used in their business.  Knowledge is power. And after you listen to this episode, you’ll know these five pricing arrangements; which may help you quickly adapt almost any pricing conversation. Instead of a proposal or engagement going south, you may be able to move into a direction that will land you the job or maybe even help you secure a higher rate for your services! In this episode, I’ll cover these topics: Hourly pricing: why I can’t stand it and how it puts you and your clients at odds Refocusing the conversation from time to value and providing different levels of value in pricing options Daily rates: whe

When talking with potential clients about pricing for their brand or business, many ask me, “So, Paul, you talk about value ladders a lot. What is a value ladder, exactly?”  Well, in this week’s episode I am going to answer that question and by the end, you’ll know what a value ladder is and how to use one in your business. Plus, I will share with you priming, how to prime for higher rates, and anchoring, which ties everything all together for grading the value ladder. In this episode, I’ll cover these topics: Creating a value ladder of products and prices so prospects engage with you, onboard, and ramp up from there How creating a value ladder allows you to take a holistic look at your pricing Some real-world uses for value and product ladders Being upfront about pricing helps weed out those that can’t afford you (and why that’s okay) Placement of products on the value ladder Priming for the purpose of producing higher rates and how anchoring ties into it all Resources and links referenced: The Business of

In this episode, I am going to talk about not wasting time with long proposals and how to use the one page proposal in your business (which I’ve mentioned in past episodes). Oftentimes, firms or companies can end up putting together long proposals (upwards of 100 pages!). Most of these proposals are solution-oriented and resume-based.  And, yes, I was guilty of putting together long proposals over the years too. But, once I turned to my own business and consultations and read an eye-opening book, I learned the importance of limiting unpaid proposals. Today, I will share with you what I learned and hope to help you craft a one page proposal that not only saves you time and energy, but can help you increase your rates too. In this episode, I’ll cover these topics: Instead of putting solutions or scenarios into a long proposal, I explain what you can do Who should use one page proposals Things to consider before crafting your proposal Creating your pricing options Many of the elements to include in your one pag

Today I am going to share with you what I know about using options and anchoring in your pricing strategy. If you're not familiar with the terms options or anchoring, don’t worry! I am going to describe which each one is and how they can help you in your business.  Plus, I’ll share several ways you can increase your rates and your engagements with clients. By the way, in the first episode of Pricing is Positioning, I shared 7 tips for creating a pricing strategy. If you haven’t listened to it yet, I urge you to do so. I also touched on pricing options and anchoring in that episode. You can find it here. In this episode, I’ll cover these topics: Five different pricing arrangements you can use in your business Why you’re missing out on huge opportunities if you are not using pricing options or anchoring The power of controlling comparisons and behavioral economics Why providing options provides context in the value decision and the best number of options to have Value ladders and anchoring, how they make prici

What is The Pricing is Positioning concept and how can it help you with your overall pricing strategy? In this episode I share with you what I mean when I say pricing is positioning and how your brand’s value and pricing of products is important to this overall concept. Plus, I share seven very specific tips that will help you develop a better pricing strategy for your business or brand. These tips are ones I’ve learned through my own journey as a consultant and during negotiations, as well as, strategies I’ve learned from some of the greats like Alan Weiss, Ron Baker and Blair Enns. In this episode, I’ll cover these topics: Your brand’s perceived value in the marketplace Using the pricing of your products and services to command the right type of clients The importance of valuing yourself, first Commoditized service businesses, productized service businesses, and customized services Value ladders, what they are and how they can help your brand Using anchoring and options in your pricing strategy    Plus, my