When last I checked, there were about a dozen books on my shelves about PRICING.
Many small business owners will tell you how they approached pricing.
1. Make an offer at a price that you peel off the top of your head.
2. The person quickly accepts the offer.
3. Immediately you think, “Man, I should have asked for more.”
4. The second offer you make is higher as you begin to test what you can get.
5. Again, the prospect accepts.
6. Once again you think, “I should have asked for more.”
7. The process continues until a prospect rejects your offer, at which point you stop, and offer a discount.
8. Whatever discounted offer made the sale becomes your regular price. For awhile.
9. After awhile you start asking for more and measure the impact it has on your business.
That’s real-world. And there’s nothing wrong with that strategy. I’m employed that strategy a lot in my career. But it all begins with an earlier process. Watch the video and I’ll tell you about it.