Episode 3: Understanding Pricing

What this episode covers

Hosted by Brennan Dunn and Eric DavisShow NotesFall in VirginiaWriting fictionPricing freelancing servicesDouble your freelancing rateReverse engineering your former salaryValue based pricing, value delivered to clientsOrigins of your priceHow to decide on a priceCost plus - Cost of materials, cost of equipment, labor cost, and profit.Commodity pricingLack of major expenses for freelancers when using a cost plus modelCost of livingMarket rateBattle between supply and demandHigh demand drive rates up, low demand drive rates downAlso a commodity based strategyEconomic substitutesImperfect marketValue based pricing (Consulting)Hired as an investmentGoal is to make more money in the long run than the costEmotional needCharge based on resultsReflecting on the customer's business and proposing a solution to helpUsing your skill (software, copywriting, etc) as a means to the end (business results)Next WeekInterview with Nathan Barry. If you have any questions for him, post a comment below.ResourcesBrennan - Samson Meteor Mic, Shush Mac app, and The Strategy and Tactics of Pricing: A Guide to Growing More Profitably.Eric - Million Dollar Consulting.Action stepsAsk your next potential client questions that get at the business value of the project:Why are you looking for this project?What kind of financial outcomes are hoping a successful completion of this project will bring you?What would you consider a failed project?Try to get to the root of why the client is coming to you and see what you can do so you can deliver a substantial amount of business value to them.TranscriptWe're hoping to get a transcript later.

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