How to Set a Price for Your Service

Are you properly valuing the services you agen poker online provide?
Setting the proper prices for your goods or services is one of the most crucial elements of business.
To set fair and accurate prices for your services, you’ll need to understand what the service is costing your business, find out what your competitors charge, utilize conversions and metrics, and price higher than you initially thought you would.
Some of the most common pricing strategies are penetration pricing, economy pricing, psychological pricing, price skimming and product line pricing.
Coming up with a business idea is only half the battle. Determining a price for your services is another huge part. As a business owner, you need to determine a price for your services before you can start offering them to potential customers, and if you can’t offer your services, you can’t make any money. So setting a proper price is one of the crucial first steps in setting up your business.

“Pricing is a mix of art and science,” said Blair Enns, published author and CEO of Win Without Pitching. “For customized service firms – where each engagement is a blank slate of possibilities – it’s mostly art. For productized services, which are intended to scale to many clients or customers, there’s more science in the form of competitive analysis and audience segmentation.”

Business.com community member Jessica Federman asked fellow members how to charge for a PowerPoint presentation. PowerPoint is a service that should be customized to each client, because each one will have different needs. Therefore, it is important to determine pricing for the client, rather than for the job itself. Enns said the basis for the different prices should not be the time it takes to do the work or the number of slides, but rather the value of the presentation to the individual client or organization.

“Different clients will and should pay different prices based on the value of that PowerPoint design to the client,” he said. “For example, a PowerPoint presentation for a solopreneur small business coach that would be used to pitch new clients should be priced differently than a presentation the CEO of Microsoft would use to pitch his new strategic vision to the board of directors.”

According to Enns, the companies that price this way tend to outearn their competitors.