The Emotional Aspects of Pricing in Small Business: Lessons from a Sales Call

In the realm of running a business, especially in the small business sector, understanding the emotional weight behind financial decisions is crucial. I had a recent sales call that underscored the significance of getting pricing right and reminded me that sometimes, we assume roles that extend beyond our technical skills.

Late last year, a restaurant owner reached out to me in a state of desperation. Having previously collaborated with her, she was facing plummeting sales, chaotic financial records, and the daunting prospect of selling her business. Not to mention, she was in the midst of applying for a line of credit without any clear financial documentation to present to the bank. During our call, I allowed her to express her concerns and frustrations—an approach that often serves to build rapport. After all, sometimes our role shifts to that of a therapist equipped with Excel skills.

For her, getting her financial books in order represented more than just a step toward a potential sale or securing credit; it was about reclaiming her emotional stability. The stakes were incredibly high. Amidst the technicalities of project scoping and pricing, I often find myself forgetting the human factor lurking behind numbers. In small businesses, emotions can run deep.

As I assessed the situation, I noticed the volume of transactions, the disarray of her financial records, and the personal expenses intertwined within her business finances. I quickly realized that a swift solution was unlikely. While I wanted my pricing to reflect the effort required, I also wished to avoid sticker shock, especially since she was a loyal client and a seasoned entrepreneur in need of support. Yet, I didn’t want to undervalue the work and risk becoming overwhelmed by the project.

To guide my pricing decision, I referred to my straightforward pricing worksheet, which acts as a reality check. After careful consideration, I proposed a fee of $4,200. Expecting some negotiation, I was surprised when she signed immediately, paid the deposit, and expressed that it was the first time in months she felt a sense of relief regarding her business.

This experience reaffirmed a vital lesson I’ve encountered repeatedly: when clients feel understood and supported, the price becomes less critical. They are seeking a trusted partner to address their challenges, especially if they have the means to afford professional help.

Reflecting on previous experiences, I learned that underpricing such work can lead to complications. It’s tempting to think, “This should only take