The Emotional Dynamics of Pricing: A Sales Experience with a Restaurant Owner
Late last year, I encountered a sales call that served as a vivid reminder of the critical importance of pricing within any business. A previous client, who operates a restaurant, reached out to me in a state of sheer panic. Her sales had plummeted, her financial records were chaotic, and she was contemplating selling her business. To make matters worse, she was applying for a line of credit without having the clean financials the bank would require. As we spoke, I realized that my role in this situation was less about crunching numbers and more akin to that of an unqualified therapist with a knack for Excel.
During our call, I allowed her to express all her fears and frustrations, which is a strategy that often fosters rapport. It’s vital to remember that behind every financial discussion is an individual grappling with real emotions and decisions. For her, the act of updating her financial records was not just a mechanical task; it was a pivotal moment that could dictate whether she would stay in business or find a way to exit gracefully. The stakes were high, and I endeavored to remind myself that business, especially for small enterprises, is often deeply personal.
As I examined the chaotic volume of transactions, the mixed personal expenses, and the urgency of her predicament, I realized that cleaning up her books was not a simple task. I approached the situation carefully, aware of our history as a business relationship. I did not want to overwhelm her with an exorbitant quote, nor did I want to underprice the service and risk getting trapped in a complicated project.
Using a straightforward pricing worksheet I often refer to for guidance (which I’ll link to in the comments for anyone interested), I crafted a proposal for $4,200. To my surprise, rather than negotiating, she signed off immediately, paid the deposit, and expressed that it was the first time in months she had felt at ease discussing her business’s challenges.
This experience reinforced a significant lesson I’ve learned repeatedly: When clients feel that their struggles are truly understood, the price often becomes an afterthought. They seek a trustworthy partner to resolve their issues, especially if they are established and possess the financial means to engage services.
In the past, I have undervalued similar projects, only to regret it later. It’s tempting to estimate work based solely on hours, but the real value lies in effectively addressing the client’s problems and restoring their sense of control
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