The Emotional Dynamics of Selling: Understanding the Real Value in Pricing

As I reflect on a sales call I had late last year, I’m reminded just how crucial it is to establish the right pricing strategy when managing a business. An owner of a restaurant I previously collaborated with reached out in a state of distress, facing a significant decline in sales, disorganized financial records, and the contemplation of selling her business. Complicated by her need to secure a line of credit, she was understandably overwhelmed, with no clear financial picture to present to the bank.

During our call, I took a listening approach, allowing her to express her frustrations and fears. This technique not only aids in building rapport but also reinforces a vital truth: sometimes, we find ourselves in roles that feel more therapeutic than transactional.

For this particular business owner, updating her financial records was not solely a logistical task; it carried emotional weight as well. The outcome would determine whether she could continue running her business or step away from it entirely. In the hustle of evaluating and pricing services, it’s easy to forget that there’s a person on the other end of the line; in the world of small business, emotions run high.

As I assessed her financial situation—considering the disorganization of her records, the mingling of personal and business expenses, and the urgency of the matter—I quickly realized that this wouldn’t be a straightforward job. My challenge was to strike a balance in pricing: I wanted to charge a fair amount, taking into account our previous relationship and her pressing needs, while also avoiding underpricing myself into a potentially burdensome project.

I consulted a simple pricing worksheet I often use as a reality check and drafted a proposal of $4,200. To my surprise, she didn’t hesitate to sign and proceeded to pay the deposit immediately. She later expressed that it was the first moment in months she felt a sense of peace regarding her business situation.

This experience reinforced a valuable insight I’ve encountered many times: when clients perceive that you genuinely understand their challenges, the price becomes less significant. They seek a trustworthy partner to solve their problems, especially when they have the financial means to pay for resolution—an advantage in their established positions.

In the past, I’ve learned the hard way about the pitfalls of underpricing my work. It’s tempting to think, “this should only take X hours,” but the true value lies in effectively addressing the client’s needs and restoring their sense of control over their business. I now focus