In this episode, I go through 7 reasons why "Cover Your Costs" is the worst pricing advice EVER. It's one of the most common responses to questions in business groups/forums when it comes to pricing. The people who share this advice are well-intentioned, but aren't pricing experts. There are many potential dangers to cost-plus pricing that especially apply to smaller businesses. This video/podcast came about from a blog post I wrote by the same title, which you can read here: https://www.courtneydeagon.com/articles/7-reasons-why-cover-your-costs-is-the-worst-pricing-advice If you'd like more resources on why cost plus pricing is fallible, check out these resources: 1. Why Profit Doesn't Matter (podcast) https://artofvalue.com/why-profit-does-not-matter/ 2. Why Cash Does Matter (podcast) https://artofvalue.com/why-cash-does-matter/ 3. Cost Plus Conundrum (how cost plus pricing loses you money - 3 minute video) https://www.youtube.com/watch?index=2&list=PLkDIy0CN_ftIATD1HyYiKe7rgN_5O9RUn&v=kr6hTW9zgHU 4. Cost Plus Death Spiral (how cost plus pricing can kill your business - 2 minute video) https://www.youtube.com/watch?index=3&list=PLkDIy0CN_ftIATD1HyYiKe7rgN_5O9RUn&v=7RoNLbQhG_8 5. Why Cost-Plus is a flawed concept (podcast) https://www.thesoulofenterprise.com/tsoe/simmons

In this video, I use the criteria for a good pricing metric to talk about why you shouldn't use hourly rates in your business. This is based on a blog post I wrote last week on this very topic - give it a read! https://www.courtneydeagon.com/articles/why-you-shouldnt-use-hourly-rates You can also watch the video version of this episode here: https://www.youtube.com/watch?v=82-FQsnOcSQ&t=6s If you liked this episode, be sure to subscribe, give a 5-star rating, and leave a review :)

In this episode, my good friend Sally (from Fit With Sally) go through an exercise known as the Stiving Value Table. This is a framework designed by world-renowned pricing expert, Mark Stiving. This framework can be used by any business, and can be done on your own, or with your team. Please enjoy - and if you liked it, please 'like' the video, and subscribe to our channel to stay updated for future episodes! Fit With Sally: https://www.fitwithsally.com/

The Pricing on The Cake Podcast is almost here! Set to drop in September, 2020. This show is hosted by Courtney Deagon, a pricing expert with a passion for helping women price profitably and confidently. Episodes will feature tips and insights from Courtney, inspiring entrepreneurs, and other pricing experts. Be sure to listen in each fortnight so you can gain the knowledge, insights and skills you need to have healthy, profitable pricing in your business. Don't forget to subscribe so you don't miss out on any episodes!