The Emotional Aspect of Pricing: Insights from a Sales Call

In the world of business, particularly in sales, the emotional layers often take a backseat to practical considerations. Yet, as I’ve learned through a recent experience, understanding these emotions can be crucial for establishing trust and providing real value to your clients.

A Challenging Call with a Business Owner

Earlier last year, I had a conversation with a restaurant owner I previously worked with. She reached out in a state of panic, grappling with plummeting sales, disorganized financials, and the daunting prospect of either selling her business or applying for credit without the necessary financial documentation. During our call, I employed a strategy that often proves effective: I let her express her concerns and frustrations. Sometimes, you find yourself in the role of an unqualified therapist who just happens to have expertise in Excel.

The Stakes Were High

For this restaurant owner, the chaos surrounding her financials was not merely a logistical issue; it was an emotional ordeal. Her livelihood and future were hanging in the balance. As I listened, I was reminded that behind every business challenge lies a human story. Small business ownership is deeply personal, and understanding this aspect is essential for anyone in my line of work.

As I assessed her disorganized records, mixed personal expenditures, and the urgency of her situation, I realized that the resolution would not be a simple task—it would require considerable effort. I valued our professional relationship and wanted to offer a fair price that reflected the work needed without overwhelming her during an already stressful time.

Determining a Fair Price

I referred to my straightforward pricing worksheet (which I’ll be sharing a link to for those interested) and crafted a proposal amounting to $4,200. I anticipated some back-and-forth negotiation, but to my surprise, she immediately signed the proposal and made the deposit. She expressed that it was the first time in months that she had felt a sense of relief regarding her situation.

This experience reiterated a key lesson I’ve learned throughout my career: when clients feel understood and supported in addressing their problems, the discussion around pricing often becomes less significant. They are seeking someone they can trust to provide effective solutions, especially when they have the means to pay for such services.

Valuing the Work You Provide

I’ve made the mistake of underpricing projects in the past, believing that they should only require a set number of hours. However, I’ve come to realize that the true value