February 25, 2021
Let’s talk about financing. Many product-based startups don’t realize they are doing pricing wrong because they lack a process and they don’t know the true value of their products. Pricing is challenging especially in the ethical business space, leaving business owners with little to no profits but so much work to do.
I’m here to walk you through a simple process to price your products right. There are a few numbers to consider, but I promise you need to know these numbers to save yourself from the painful feeling of running your business to the ground. Aside from numbers, I also need you to take some self-reflections and ask honest questions about yourself. Let’s answer those questions and learn how to price your products for profit!
[00:01 - 03:13] Opening Segment
[03:14 - 09:01] Don’t Be Scared of High Prices
[09:02 - 15:11] Why You Should Understand Gross Margin
[15:12 - 20:34] How to Price Your Product Properly
[20:35 - 22:10] Closing Segment
“If you don’t know your numbers, if you’re not pricing for profit, you can lose money on every single sale.” - Kristi Soomer
“Cash flow is king in product-based businesses.” - Kristi Soomer
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