Understanding the Emotional Aspects of Pricing in Sales

In the fast-paced world of business, the emotional dynamics surrounding pricing cannot be underestimated. A recent sales call from late last year served as a powerful reminder of this truth, particularly in the field of small business.

A familiar restaurant owner reached out to me, visibly distressed. She was grappling with a significant drop in sales, disorganized financial records, and was contemplating selling her business. Amidst her turmoil, she was also trying to secure a line of credit but had no clear financial statements to present to the bank. As we conversed, I instinctively adopted a listening role—sometimes, the best approach is to let someone vent their frustrations. In this case, I felt more like an unwitting therapist skilled in Excel than a traditional consultant.

For her, the urgency to organize her books was not merely a logistical necessity; it represented her hopes for maintaining or exiting her business. The stakes couldn’t be higher, and as we spoke, I was reminded that each transaction involves a human story. In the grind of pricing and project execution, it’s easy to overlook the personal impact these decisions have on clients.

As I reviewed her financial transactions, I recognized that the situation was far from a quick fix. I knew we had to tackle the chaotic records and the intertwining of personal and business expenses. Balancing my desire to help with the necessity of fair compensation was imperative. I was aware of the potential for “sticker shock,” particularly since she was a repeat client and a seasoned entrepreneur whom I genuinely liked working with. On the flip side, there was the risk of undervaluing my services, which could lead to resentment during a challenging project.

I turned to a straightforward pricing worksheet I often use for self-assessment and crafted a proposal of $4,200. To my surprise, rather than negotiating, she signed immediately, paid the deposit, and shared that it was the first time in months she felt a sense of relief regarding her company’s challenges.

This moment encapsulated a fundamental lesson I’ve learned repeatedly: when clients feel understood and recognized, the price becomes secondary. They appreciate having a trustworthy partner to resolve their issues, especially when they possess the means to pay—often, established business owners are in a position to invest in solutions without hesitation.

Reflecting on my past experiences, I recall instances where I underpriced similar work. It’s easy to fall into the trap of assuming, “this should only take X