Join Jim Stice for an in-depth discussion in this video Pricing a consulting job, part of Finance Essentials for Small Business.
- One of the problems that small business owners have…is that they improperly price their products and services.…Sometimes they set their prices…too high driving away business,…but more often they set their prices too low…and end up not covering all of their costs.…- I've got some personal experience with this,…a story with a good ending.…- Okay, I know that you operate your own small…business providing executive training courses.…- Correct, a few years ago I was invited to provide…a one day training course to a group in Kuala Lumpur.…The group asked me to quote…them a price for this one day course.…
- Kuala Lumpur, where's that?…- Kuala Lumpur, locally known as KL…is the capital of Malaysia.…- All right, so what was the pricing issue?…- Well see they just wanted the one day,…so my first thought was,…"Well, how much would I accept for one day of work?"…Would I do it for $1,000?…- 1,000 bucks for one day of work,…most people would be happy to make $1,000 a day.…- That's what I thought, then I realized that it would take…
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