Many advise that increasing prices can lead to healthier profits, but as Nick discusses in this week's show, the real key to successful growth may lie in the value you provide, rather than the price on your ticket.
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KEY TAKEAWAYS
- Many in the start-up phase carry fear along with the excitement, and as a result may set prices lower in order to ensure interest from their client base.
- Outside perspectives are sometimes invaluable in seeing the gap between your pricing and the value you may be offering.
- Value based pricing is where you consider the value of what your services will give to your client. Your pricing should be based upon that.
- If your price is significantly lower than the value being offered, your customer will be less emotionally invested. The less you pay, the less it means to you.
BEST MOMENTS
'It's a simple thing to advise, but always an easy thing to execute'
'If you are offering a higher level of value vs what you are charging, then it's easy for someone to say yes'
'If I gave you £10m and you gave me $500,000, would that be an interesting exchange for you?'
'If someone gives me something for free then I don't value it in the same way'
VALUABLE RESOURCES
Scale Up with Nick Bradley: scaleup.vip/podcast
Scale Up Your Business, coaching/consulting: https://suyb.global
Join the free Scale Up Your Business community: scaleup.vip/community
Take the SUYB Predictable Growth Assessment™, to measure your current business performance
and show you where to focus next to get to where you want to be: https://scaleup.vip/PredictableGrowthAssessment
ABOUT THE HOST
Nick Bradley is a renowned entrepreneur, investor, speaker, and business growth expert.
His background is growing and scaling Venture Capital and Private Equity backed businesses globally.
Over the last decade, he has completed 117 acquisitions and 25 business exits with a combined valuation of over $5bn dollars.His mission is to help business founders build valuable businesses and create life-changing exits so they can realise freedom, wealth, and impact.
CONTACT METHOD
Work with Nick: https://highvalueexit.com
Nick’s Facebook page: https://highvalueexit.com/fb
Nick’s LinkedIn: https://highvalueexit.com/li
Nick’s Instagram: https://highvalueexit.com/ig