Price to Thrive, not just Survive with Austin L. Church
Mar 21, 2024
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Explore the challenges of pricing services, setting rates based on goals, and overcoming mindset hurdles with Austin L. Church. Learn about strategic pricing, financial planning, and the evolution of entrepreneurship in the digital age.
Setting prices aligned with immediate needs and long-term goals is crucial for entrepreneurs.
Effective translation of freelancing roles and confidence-building strategies aid in setting fair rates.
Deep dives
Establishing Smart and Strategic Pricing for Long-Term Goals
Setting prices that align with both immediate needs and long-term objectives is crucial for entrepreneurs. By avoiding common pricing mistakes and building rates around personal goals, entrepreneurs ensure progress towards their aspirations. Embracing strangely specific prices and learning from past errors helps in achieving sustainable and strategic pricing strategies.
Navigating Conversations on Entrepreneurship and Pricing
Discussing entrepreneurship with those unfamiliar with freelancing or consulting roles can be challenging. Still, effective translation of roles helps bridge understanding gaps. Engaging in conversations about pricing also requires confidence-building strategies to shift from undervaluing services to setting fair rates that reflect expertise and worth.
Transitioning from Survival to Dream Rates with Concrete Steps
Moving from survival to dream rates involves practical calculations and considerations. Starting with a survival number based on essential living expenses, business costs, and taxes lays the foundation. Transitioning to a dream number involves factoring in ideal work hours, lifestyle goals, and a meticulous pricing strategy for sustainable growth. Incremental rate adjustments and calculated risks lead to increased confidence and better valuation of services.
Deciding what to charge for your service or product is at the core of your business –– so why does it feel so complicated? Austin L. Church joins Terry to walk through his pricing framework.
1:50 – Being an entrepreneur in the internet age
5:20 – Introductions
7:56 – Handling the mindset piece that makes you lowball your prices