Four Cs To Stop Pushback On Your Pricing
Competing on price alone is a losing proposition for small business owners who provide professional services.
- It sets you up for burnout because you need to take on ridiculous amounts of work to make a living wage.
- It sends the message that you’re of “bargain basement” caliber. (Nice reputation to have, eh?)
- It attracts cheapskate clients who will try to take as much as they can from you for as little money as possible.
Who needs that? Not me. Not you.
And not your clients.
Speaking as a client of other professional services providers, I—and I think the majority of B2B clients—don’t mind paying a higher price to a vendor who delivers these things:
Naturally, it makes sense to want the job done well. Does it matter how cheap you can get a professional service if the person or company providing it doesn’t seem to have the expertise or skills to provide quality results?
Working well with others, sharing ideas, and coordinating efforts—collaboration makes a tremendous difference in the end product and client satisfaction. Excellent collaborative abilities help keep projects with multiple moving parts on time and on target.
Good communication skills set expectations and avoid misunderstandings. Sadly, not everyone has them. People who are good communicators…
- Ask the right questions to fully understand clients’ needs.
- Define the scope of work and the responsibilities of themselves and clients before starting projects.
- Keep clients informed of their progress.
- Ask for feedback.
- Respond promptly
If your vendor is disorganized, doesn’t pay attention to detail, or is a procrastinator who veers off course or can’t stick to deadlines, does a cheap rate make that OK? Conscientious professional services providers care about doing the best job possible and meeting expectations. They’re meticulous about delivering quality and consistency.
Avoid The Low Price Pitfall
A low price doesn’t do clients any favors if they’re not getting quality work but are getting major headaches from working with a “professional” who is cutting corners by not devoting the time and energy needed to the business relationship.
As a small business owner who provides professional services, take your business—and your clients—seriously. The rates you charge should reflect the value of you as a total package. And your total package will be worth a higher rate if it includes the four Cs I mentioned above. Deliver on them, and you’ll find less pushback on price and more appreciation of you as a business professional.
How do the four Cs differentiate you from your competitors?
Image courtesy of winnond at FreeDigitalPhotos.net