Small business guru Pavlo Phitidis (he’s the founder of Aurik Business Accelerator) received the following direct message (DM) on Twitter from a regular listener of Bruce Whitfield’s The Money Show:
The pricing game is emotional... Suppliers raise prices and you forced to decide:1-do you segment and risk alienating the very people you want to be serving 2-Run at a loss until economies of scale kick in and you can negotiate a better bulk cost price. HELP!!!
— Sbusiso Mkatshwa (@sbudawarona) July 25, 2019
In answering the DM, Phitidis explained the three levers that go into price-setting:
-
How to set it
-
How to sell it
- How to maintain it
Price-setting is a science and an art.
Listen to the interview in the audio below to learn how to temper your emotions when setting prices.
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