Understanding the Human Element in Pricing: Insights from a Sales Call

In the dynamic world of business, especially when it comes to small enterprises, the delicate balance between numbers and emotions plays a pivotal role. Recently, I had an enlightening conversation with a restaurant owner that perfectly illustrated this point, reminding me of the critical importance of getting pricing right in any service-based industry.

Last year, I received a frantic call from a past client, a restaurant owner grappling with plummeting sales and a chaotic financial situation. She was contemplating selling her business and was in the process of applying for a line of credit, yet she had no organized financial records to present to the bank. Our conversation quickly evolved into a cathartic session for her, where I took on a somewhat unconventional role—acting as an unqualified therapist who happens to be well-versed in Excel.

What struck me was how intertwined the practicalities of her situation were with her emotions. The stakes were incredibly high for her—a clean set of books could either pave the way for a new chapter in her entrepreneurial journey or signal an exit from a business she had invested so much of herself in. In these moments, I often find it easy to forget that behind the numbers lies a human being with hopes, fears, and deep-seated connections to their work.

As we discussed the mess of transactions and the intertwining of personal and business finances, I realized that this was not going to be a quick fix. I had to approach pricing delicately; she was not only a repeat client but also someone I genuinely respected and wanted to assist. At the same time, I needed to ensure that my proposal accurately reflected the extensive work ahead, avoiding either sticker shock or underpricing issues.

Using a straightforward pricing worksheet I often consult, I proposed a fee of $4,200 for the project. To my surprise, she accepted immediately and expressed that for the first time in months, she felt a sense of relief regarding her company’s future.

This experience reinforced a fundamental lesson I’ve learned throughout my career: when clients feel truly understood in their struggles, the topic of price often becomes a secondary concern. They seek a trustworthy partner to resolve their issues, particularly when they are financially established and capable of paying for that assistance.

Reflecting on previous projects, I have learned the importance of understanding the value I provide rather than simply estimating based on hours spent on a task. It’s critical to recognize that unforeseen challenges can arise, and the journey is seldom as