The Emotional Dynamics of Pricing in Sales: A Lesson Learned
Last year, a sales call distinctly reminded me of the critical role pricing plays in the sustainability of a business. I received a frantic call from a restaurant owner with whom I had previously collaborated. Her sales were plummeting, her financial records were a mess, and she was considering selling her business. On top of that, she was trying to secure a line of credit without any organized financials to present to the bank. As we spoke, I took a step back, allowing her to express her concerns. This approach not only fostered rapport but also highlighted an important truth: sometimes, as service providers, we inadvertently become emotional support for our clients.
In her case, updating her financial records was more than a logistical necessity; it was laden with emotional weight. Her ability to either retain her business or facilitate its sale hinged on our conversation. It’s easy to overlook the human aspect of business amidst the systematic tasks of scoping and pricing work. For many, particularly in small business, their venture is a deeply personal journey.
As I assessed the complexity of her situation—the volume of transactions, poor record-keeping, and intertwining personal expenses—I realized that this wouldn’t be a simple fix. I didn’t want to overwhelm her with costs, especially since she was a repeat client and someone I genuinely valued. At the same time, I needed to avoid underquoting and creating an overwhelming project for myself.
To ground my decision, I consulted my straightforward pricing worksheet (which I’m happy to share in the comments for those interested). After careful consideration, I proposed a fee of $4,200. In anticipation of a negotiation, I was taken aback when she quickly signed the agreement and paid the deposit. She expressed that, for the first time in months, she felt a sense of relief regarding her business predicament.
This interaction reiterated a key lesson I’ve learned: when clients feel understood and supported in addressing their pain points, the cost becomes less of a concern. They seek trust and problem-solving, especially when they possess the means to invest in solutions.
I’ve previously misjudged the value of similar projects, underpricing my services based on a mistaken belief about the time commitment. However, the true worth lies in resolving the client’s issues and restoring their control over their business. I’ve come to recognize that no project ever unfolds as simply as “X hours” suggests—there are always unforeseen challenges.
In navigating pricing, one must combine
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