The Business of Authority
Positioning + Pricing = Profits
Episode Summary
How positioning plus pricing equals profits.
Episode Notes
How positioning plus pricing equals profits.
Talking Points
- The concept of value pricing
- Price vs. hourly rate
- Setting acceptable prices
- Paul Newman’s Rolex
- How to differentiate yourself from the competition so that price isn’t the only distinction
- How big corporations choose between different prices
- How positioning affects your leverage
- Ways to set prices
- How your prices can rise over time
- Having the courage to keep charging more
- A fixed price can be a meaningful differentiation
- How hourly billing punishes experience
- Selling access to expertise
- Owning your space
- Impact and influence
Quotable Quotes
“If you’re renting yourself out by the hour, then you’re not pricing anything. That’s not a price.” –JS
“When you lead with your hourly rate, it gives clients a point of reference that isn’t valid.” –RM
“If your audience are big corporates, a lot of times they have to choose the lowest price.” --RM
“If you are the obvious choice, then those other “competitors” are just not on the table anymore.” –JS