I see too many people in the business world now that have no idea how to value their time, their product, or their service.
I am getting real sick of seeing courses, e-books, webinars, and whatever being "valued" at $97, $997, $4,997, or whatever else.
When you put a dollar amount on the value of your product, what are you basing that off of?
Is it off of the cost it took to make the product? Is it off of some amount of return your consumer can expect from the product?
No, it's usually not.
This is the oldest trick in the book to make consumers think that they are saving money.
Remember those old commercials for like frying pans and boats that would say "This is a ____ dollar value, but call the number on your screen and get yours for just $____!!"
Yeah, they were really saying that so that you thought you were saving, and then pricing it at what they actually thought it was worth.
The truth is, at the end of the day, people are going to pay you what your product or service is worth. So just be upfront with them about it. If you can provide a value of $500, then just charge $500. Don't go around saying your service is "valued at" $1,497 but this customer has the opportunity to get it for "just" $497.
Money is just a tool we use to represent value in a tangible way.
So if you don't understand how to value your service or how to value your product... it is good to keep this in mind.
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