Knowing Your Value
On this episode of Coaching for Profit, host Brandon Moore and Maggie Daniel are going to talk about “Knowing Your Value.” Brandon Moore is the owner and president of BKM pc CPA and Maggie Daniel is BKM CPA’s Director of Operations. Today they are going to talk about some of the important things in pricing products and services and discuss the question, "how much value you are bringing to those products and services?"
3 Key Points
- If you don’t know who your client is and you set your dollar amount too high, you are never going to bring in any clients. But if you set it too low, you are selling yourself short, and you are losing out profit, says Maggie.
- Brandon explains how knowing your customers, price points, and competitors will make a huge deal of pricing to your pricing model.
- The value of the service is not necessarily in the three things knowing your cost, market, and value, but it is overall to educate entrepreneurs on understanding gross margin versus net profit.
