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Podcast: Why You Should Raise Your Prices, with Jackie Peterson
In this podcast, I talk with small business consultant Jackie Peterson about a subject I think many creative people stuggle with: how to come up with fair and profitable prices for the things you make.
There's a lot of thorny stuff involved in pricing, after all – we creatives endure a lot of social programming about the value of our work. And, let's face it, the landscape of hobby-based and professional businesses we dwell in often creates confusion about the value of handmade work in general.
And then there's the math/accounting parts – to do your pricing well, you need a clearer overall picture of the financial needs of your business, and for many creatives, that's intimidating stiff. As if that weren't enough, there's the fear of what our market will think if we charge more.
I struggle with pricing as much as anyone else. But Jackie has a very clear and friendly way of talking about this subject that has helped me overcome a lot of my fears. Hopefully, in this interview she'll do the same for you.
Some Great Pricing Links for You:
• First, I highly recommend Jackie's book, Better, Smarter, Richer. If you have a small creative business and you want it to have better financial traction, there are extremely concrete, actionable ideas here.
• I've also recommended this series of posts, The 3 P's of Pricing, to many people. They're from Productive Flourishing.
• This post on 3 Pricing Mistakes that Cripple Your Sales is a little on the hard-sell side, but the insights are fabulous.
• Megan Auman offers a very sane take on pricing for profitability in Why You Shouldn't Pay Yourself (And Other Myths About Profit).