Profit Plus
Profit Plus
Kesha Hill
002 - Understanding your Costs
10 minutes Posted Jul 9, 2024 at 5:00 am.
Introduction
Understanding Your Costs
Types of Costs in Service-Based Businesses
Indirect Costs
Variable Costs
Calculating Your Costs
Exploring Pricing Strategies
Adjusting for Market and Client Factors
Communicating Your Prices Effectively
Conclusion and Final Thoughts
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Show notes
What You’ll Hear:
In this episode of the Profit Plus Podcast, host Kesha Hill discusses the critical topic of pricing services for service-based businesses. She covers the importance of understanding and calculating various costs, including direct, indirect, variable, and fixed costs. Kesha provides a step-by-step guide to determine the cost per hour and explores different pricing strategies such as cost-plus pricing, value-based pricing, competitive pricing, package pricing, and tiered pricing. She also discusses how to adjust pricing based on market and client factors and the importance of effectively communicating prices to clients. Tune in to learn how to set prices that ensure profitability and reflect the value of your services.
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