What does Good, Fast or Cheap mean for your Service Prices?

Send us a textAs a business owner, you've probably heard the saying "You can be good, you can be fast, or you can be cheap. Pick two."Is it really that simple? 🤔Recently someone wrote to me that they were struggling with this concept of good, fast or cheap as they aren't fast. And they feel pressured to be so when that's not them. Yes, I often get my show ideas from the questions people ask me. So keep asking! 😄I believe it's important to know what your strengths are and to market to those strengths. That's how you attract people who value your approach to things. Failing to do so feel so frustrating - you end up never feel good enough.More importantly doing so allows you to work in your "wheelhouse" of expertise and focus on what you're best at. BUT that requires you to let go of the things that aren't strengths. In this case if you're not fast, then don't market that. Lean into the fact that you deliver great results even if it takes a bit more time. Or even redefine what fast is.You have to let go first - otherwise it'll feel like you're always "swimming against the current" 🏊‍♀️ i.e. struggling.In This EpisodeWe explore the popular saying in the service and freelance industry: "You can be good, you can be fast, or you can be cheap. Pick two." We dig deeper to unpack its meaning for pricing in your business. Here's the deal: all three factors—good, fast, and cheap—are relative and depend on your target customers. Their perception of what's valuable matters most and you can influence that.We take a look at how perceptions impact the definition of good, cheap and fast. As well as how to manage if what you do doesn't fit all those requirements. In my experience, it's not about choosing between good, fast, and cheap. It's not even about always delivering all at the same time.It is about aligning your strengths with what your target customers value. Enjoy the episode!Podcast Highlights0:00 Intro2:00 An Old Adage6:36 Be Honest With Yourself9:11 Best Way to Help a Potential Client11:00 Price Acceptance11:42 Wrapping it UpEpisode LinksThe Fair Price Formula: https://maven.com/the-pricing-lady/fairpriceformulaOn-demand Web Class: "Getting to a Fair Price"Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.*****Hi I'm Janene, Let’s Take the Next Step TogetherPricing can feel confusing or overwhelming — and that’s completely normal. I’m here to help you gain clarity and confidence.If you’re ready for personalized support and real solutions, book a call and let’s talk about your unique pricing challenges.https://thepricinglady.com/book-a-call/Not quite ready? Visit my Resources page to explore guides and tools that meet you where you are — including the friendly Pricing Scorecard to help you uncover opportunities without any pressure.https://thepricinglady.com/resources/No matter where you are in your pricing journey, the next right step is waiting for you.Mentioned in this episode:The Pricing Lady is a proud member of the SwissCast NetworkDiscover more great podcasts for English-speaking SwitzerlandSwissCast Network