The Emotional Aspects of Sales: Understanding Pricing Through Empathy

Late last year, I had an enlightening sales call that underscored the critical importance of pricing in business operations. A restaurant owner, a previous client, reached out in a state of distress. She was grappling with declining sales, disorganized financial statements, and was contemplating selling her business, all while trying to secure a line of credit without having clean financials to present to the bank.

During our phone conversation, I allowed her to express her concerns and frustrations. This technique, while seemingly informal, is a powerful way to establish rapport. Sometimes, in our roles as service providers, we find ourselves playing the part of a counselor who just happens to be proficient in spreadsheets.

For her, the urgency to rectify her financial records was not merely a numbers game; it was inherently tied to her emotional well-being. The potential ramifications of her situation were profound—her career was on the line, either allowing her to stay afloat in the industry or facilitating her exit from it. Amidst the technicalities of pricing and project scope, it can be easy to overlook the human emotions involved in small business operations.

As I assessed her records, I noticed the sheer volume of transactions, the disarray in her financial books, and the intertwining of personal expenses. I quickly realized this would not be a straightforward cleanup. I aimed to avoid sticker shock, especially since she was a loyal client who genuinely needed assistance. However, I also needed to ensure my proposal was adequately representative of the extensive work required.

To find a balance, I referred to my pricing worksheet—an invaluable tool for assessing the job at hand. After careful consideration, I submitted a proposal for $4,200. To my surprise, she signed without hesitation, paid the deposit, and expressed that it was the first time in months she felt a sense of relief regarding her company’s challenges.

This experience reaffirmed a crucial lesson I’ve encountered numerous times: when clients perceive that you understand their pain points and have the capability to address their needs, the pricing becomes secondary. Trust becomes paramount, especially for established business owners who can afford the necessary investment.

I’ve made the mistake of undervaluing my services in the past, only to find myself overwhelmed with projects that required more time and effort than initially anticipated. It’s essential to recognize that the value of a service lies not only in the time spent but also in the resolution of the client’s challenges, ultimately empowering them to regain