The Emotional Underpinnings of Pricing in Sales: A Lesson Learned

In the realm of sales, particularly when working with small business owners, I’ve realized that pricing extends beyond mere numbers. It often carries a weighty emotional component that significantly influences decision-making. A recent experience reminded me just how crucial it is to get pricing right, especially for businesses facing turbulent times.

Late last year, I received a call from a restaurant owner with whom I had a previous working relationship. She was in a state of distress: sales were plummeting, her financial records were chaotic, and she was contemplating selling her business. To make matters worse, she needed to apply for a line of credit but lacked any clean financials to present to the bank. During our conversation, I let her voice her concerns without interruption. Often, this approach works wonders for building rapport; in many cases, you become less of a consultant and more of a sympathetic ear—a role I sometimes jokingly call an “unqualified therapist with Excel skills.”

In her situation, the need to clean up her financial records was not merely a logistical task; it was intertwined with her emotional well-being. The outcome of this work could dictate whether she stayed in the entrepreneurial game or chose to step back. The stakes could not have been higher.

As I reviewed her financial documents, the volume of transactions and the mingling of personal expenses made it clear that this was no quick fix. I was conscious of preserving our relationship as repeat clients, someone I enjoyed working with, while also considering the scope of work ahead. Pricing is always a delicate balance; I wanted to avoid shocking her with a high quote, yet I didn’t want to undervalue the effort I was about to undertake.

To establish a fair price, I referred to a straightforward pricing worksheet I often use—a resource I’m happy to share (link in the comments). I compiled a proposal for $4,200 and sent it her way, half-expecting a negotiation. To my surprise, she signed without hesitation and quickly paid the deposit. In that moment, she expressed gratitude, stating it was the first time in months she felt a sense of calm regarding her business’s situation.

This experience reaffirmed a crucial realization: when clients feel genuinely understood in their struggles, pricing becomes a secondary concern. They seek a trusted advisor to help solve their challenges, especially if they possess the financial means to do so.

Reflecting on my past experiences, I’ve learned the hard way