Point of Beginning

Sight Lines: Business Tips from the Trenches

November 11, 2009
Pricing for services is a common problem, especially in today’s challenging economy. But I recently spoke with a small business owner who doesn’t waste time thinking about what other firms are charging or what price clients might be willing to pay. He doesn’t haggle or negotiate. Instead, he sets his fee based on the value he believes he provides, and he only works with clients who are willing to pay that fee. What's his secret?



Do you bill clients what you’re worth? When a prospective client asks for a lower price, are you willing to say no?

Based on the number of RPLS.com posts on this subject, pricing for services is a common problem, especially in today’s challenging economy. But I recently spoke with a small business owner who doesn’t waste time thinking about what other firms are charging or what price clients might be willing to pay. He doesn’t haggle or negotiate. Instead, he sets his fee based on the value he believes he provides, and he only works with clients who are willing to pay that fee. His business has been successful.

His secret? He’s always on the cutting edge. As a specialist in laser scanning and modeling, he doesn’t have room to fall behind. He’s an expert in his field, and he’s constantly seeking ways to implement the next new technology that will keep him efficient and make his work more valuable to his clients.

Not everyone can operate in a niche business, and being a market leader often requires taking risks that some companies simply can’t afford. But value and creativity are key components in any successful business strategy. How does your firm measure up?


***************

Please share your comments below.