The Emotional Dynamics of Pricing in Business: A Therapist’s Mindset
In the world of business, particularly in sales, there are moments when one assumes the role of an unqualified therapist—albeit with a firm grip on data management skills like Excel. Reflecting on a pivotal sales call from late last year, I was reminded of the vital importance of getting pricing right for any firm, especially when emotions run high.
During this particular conversation, a restaurateur I had previously worked with reached out in distress. Her sales had taken a significant downturn, her financial records were in disarray, and she faced the daunting prospect of either selling her business or securing a line of credit without accurate financial statements to present. As we spoke, I mostly listened, allowing her to express her worries. This approach not only helped foster trust but also laid the groundwork for productive collaboration.
In her case, getting her financials in order was more than a matter of Bookkeeping; it was an emotional lifeline. The stakes were substantial. This wasn’t just a numbers game; it was about her future—whether she could continue her entrepreneurial journey or make a graceful exit from a venture she was passionate about. It’s essential to remember that behind every business statistic, there’s a person whose dreams, hopes, and anxieties are on the line.
As I assessed her situation, it became evident that the volume of transactions and the muddiness of her records pointed to a lengthy and complex cleanup process. This made me cautious about pricing the project appropriately. I wanted to support her as a repeat client—someone I genuinely enjoyed working with—yet I had to ensure I wasn’t underselling my services and risking a project that could lead to resentment due to unforeseen complications.
Utilizing a straightforward pricing worksheet that I rely on for evaluating proposals, I crafted a quote of $4,200. To my surprise, rather than negotiating, she accepted my proposal immediately and paid the deposit. She expressed that it was the first time in months she felt a sense of relief regarding her business.
This experience reinforced a crucial lesson I’ve learned over time: When clients believe that you truly understand their challenges, they tend to prioritize your expertise over the cost of your services. They seek trustworthy solutions, especially if they are established businesses with the means to pay—they just want the problem resolved.
From my past experiences, I’ve realized that I have sometimes undervalued my work, thinking it would take a certain number of hours. The reality,
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