The Emotional Side of Selling: Understanding the Importance of Pricing in Business
In the world of sales, the numbers often reign supreme. However, my experience has taught me that behind each financial figure lies a story—an emotional journey that can make or break a business. Recently, a conversation with a restaurant owner underscored this notion, serving as a poignant reminder of the significance of getting pricing right in any entrepreneurial venture.
Last year, I received a frantic call from a client whose restaurant was struggling. Having worked together in the past, she reached out in sheer desperation. Sales were declining, her financial records were a chaotic mess, and she faced the daunting prospect of selling her company while simultaneously applying for a line of credit—without any clean financial documentation to present. As we spoke, I took on the role of a sympathetic listener, allowing her to express her frustrations. In this instance, I was not just a financial consultant but also a makeshift therapist, armed with expertise in Excel.
As she navigated the emotional turmoil of possibly needing to sell her business, it became evident that fixing her financial records was not merely a practical task—it was critical for her peace of mind. Business ownership is often deeply personal, especially for small business owners who pour their hearts into their ventures.
Upon reviewing her chaotic financial transactions, I realized that cleaning up her books would not be a quick fix. I was concerned about how to present my proposal—balancing fair compensation for my work against the need to maintain our trusted relationship. I wanted to ensure that my quote didn’t overwhelm her, especially given her current state of distress.
Using a pricing worksheet I have developed over time, I crafted a proposal totaling $4,200. To my surprise, she signed it almost immediately and paid the deposit. In that moment, she shared that it was the first time in months she felt a sense of relief regarding her business’s struggles. This reaction served as a valuable lesson: when clients perceive that you truly understand their pain points, the cost of the solution becomes secondary. They are seeking a trusted partner to alleviate their burdens—especially when they have the financial means to do so.
I have learned through experience that underpricing such work can be a mistake. It’s easy to assume that the time required for a project can be neatly estimated, but the true value lies in addressing the client’s underlying issues and empowering them to reclaim control over their business. The reality is that projects are rarely as straightforward as they initially appear
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