In today's episode, I dive into the hidden costs of running a business that people often overlook. Believe me, understanding the math behind your business is not just an option; it's a necessity for ensuring profitability.
One mistake I see all too often is pricing based on commodity. That approach is fundamentally flawed. You need to recognize the value of your time and services, not just the market rates for similar commodities. When you get this right, it's like turning on a switch that illuminates your path toward profitability.
But profitability isn't just about pricing. It's also about how you allocate your time. I share some of my personal strategies for task optimization, which are essential for running a lean operation. Knowing when and how to delegate is equally crucial. If you're like me, giving up control can be difficult, but it's absolutely necessary for scaling your business.
And let's not forget the customer. Enhancing their experience doesn't always require a...
In this episode, I'll be sharing my top tips on how to determine the right cost for your offerings, taking into account factors such as market demand, value, and time. I'll also be discussing common pricing mistakes to avoid and why it's crucial to know your customer and their potential to pay.
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