Okay, things are not adding up. Either you are not delivering what the client is paying for or you are delivering more than that. So should you lower the price or make it higher? Should you change how you do things or not?
These are all important questions to consider when evaluating your customer delivery. Either way, it is not good for the business if things are not adding up – if you find this to be somewhat familiar you should do something about it.
Case study: Growing your agency – with Growit Group
The world is full of insecure people that are too afraid to believe in their own abilities to perform. And in that, there are many that are wrong. How often have you heard someone say that you have to aim high to achieve great things?
Maybe you are comfortable with how things are now, but if you want to grow and scale your agency – you have to believe in your cause and your ability to deliver.
According to a Forbes article, some of the most popular excuses people give for not charging more for their services are as follows:
Behind all these excuses there are often the underlying issues.
One is the insecurity about the value that is being brought forth. The common trend with these individuals is extensive overtime work – we’re talking 18 + hours a day. This is because they don’t think they are able to deliver on the time they have allocated and do not have the confidence that what they deliver is good enough.
The other would be the lack of understanding the outcome of what is being delivered. If no time is spent identifying, measuring and quantifying the outcome – how would you know the value of it? What is different from your competitors, hence your competitive advantage? Knowing this will help you a great deal with pricing.
Read more: We can show you how to take control of your agency finances in 5 steps.
Although it may not be the case for every scenario there seems to be a norm which says that price equals delivery outcome. Hence, the perceived value of what you are delivering will often be reflected in the price you are charging for it.
If you are delivering a service that is of great complexity and that takes up a lot of time you should not be afraid to crank up the price a bit. Of course, it is to be noted that you have to take the marketplace into consideration. You cannot go ahead and charge hundreds of dollars more than your competitors, but if you dare to be different you can get more out of it than you would think.
Yes, we all like free stuff, but not when we really want quality. What would you have thought if someone came to you and said they could mentor or coach your agency for free? I would definitely be sceptical. Cause nothing worth having comes easy – or cheap that is.
Interested in how you can get some more freedom in your workdays?
So do a little analysis of the way you are doing things now, and take a look at the hard truth so you can make sure you are doing things right. Don’t be your own enemy by reducing the income for your bottom line.