Pricing to Deliver a Profit
Nine out of ten business owners are not pricing their product or service correctly. Don’t fall into the trap of setting prices based on competitors or a blanket markup. Learn to capture the hidden costs of delivering your goods or service and calculate a price that delivers profit
Pricing your product is the most important financial decision a small business owner makes. It’s also the one decision they most frequently get wrong. Why? Because pricing is tricky to calculate. Most set prices based on what the market will sustain or a blanket percentage markup on costs. In this one day workshop, Tanya Titman will show you how to capture the true cost of delivering your goods or service and how to calculate a price that delivers a profit. Starting a business? We’ll validate your revenue streams and set prices to ensure you turn a profit faster.
Who should attend?
- E-commerce entrepreneurs selling products
- Owners of service-based businesses selling time
- Manufacturers importing products
- Startups who want to validate their pricing model
- Anyone wanting to restructure their pricing model
What will I learn in this workshop?
- Correct process for pricing your product or service
- Why Cost of Goods Sold is critical for pricing
- Profit Margin and Breakeven Point calculation
- Mark up strategies for products
- Hourly rate and charge out rate calculations
There are 4P’s to marketing – product, price, place and promotion. Of the four, pricing gets the least attention yet is one of the most important decisions you’ll make.
— Verne Harnish
Confirm pricing before investing in marketing
Most small business owners don’t capture all the costs associated with delivering their product or service. These “hidden” costs eat into your gross profit margin, negatively impacting on your businesses overall profitability. Before investing in expensive marketing campaigns (that increase your revenue but fail to deliver a lift in profit), take the time to confirm the price you’re charging delivers your business a profit.
Take a day out of your business to improve your financial literacy
Acceler8 Financial Education workshops are practical, hands-on sessions, where you roll up your sleeves and get into the numbers. Conducted by Tanya Titman, an experienced business coach and award-winning accountant, who runs three businesses with over 25 staff. She’s been a small business owner for 20 years and has helped 100s of businesses grow and scale. Tanya has an innate ability to explain complex financial concepts in ways business owners understand.