Managing Money

When it comes to pricing products or services, most small business owners don’t know where to start. Perhaps you’ve had the experience of basing your prices off competitive offerings in your market or by adding “x” percent to cost of production—and then not looking back to evaluate or consider the systemic or holistic impact of your pricing structure. In our experience, one of the hardest tasks small business owners face is how to price the goods and services they sell. It’s much more than just plugging in numbers—it’s observational, intuitive and even a little interesting! But with strong business systems and documentation to back you up, it’s far more achievable than you think to find that sweet spot in your market.