In this episode, Alyssa discusses the importance of pricing for creative service providers. She argues that photographers, for example, should charge a minimum of $5,000 for wedding services to cover expenses, taxes, savings, and profit. Alyssa emphasizes the need for a basic framework for pricing services and encourages new entrepreneurs to charge sustainable prices. She also highlights the importance of profitability and investing in education and equipment. Alyssa urges listeners to have open conversations about pricing and to run the numbers to ensure their businesses are profitable.
Chapters
00:00 The Importance of Pricing for Creative Service Providers
01:25 Guidance on Pricing for New and Growing Entrepreneurs
02:22 Pricing for Profit: Building a Sustainable Business
03:44 Dividing Revenue: Mike Michalowicz's Framework
04:13 Tools for Pricing: Calculator and Workbook
05:11 The Importance of Doing the Math in Pricing
05:24 Pricing for Profit
06:30 The Consequences of Undercharging
08:19 The Misconception of Charging Based on Experience
10:44 Having a Conversation on Pricing for Profit and Sustainability
Mentioned Resources:
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