Embracing the Emotional Side of Pricing in Sales

Last year, I encountered a sales call that served as a powerful reminder of the critical role pricing plays in running a successful business. A previous client, who owned a restaurant, reached out in distress. Her sales had plummeted, her financial records were disheveled, and she was contemplating selling the business while also applying for credit without having clear financials to present to the bank.

During our conversation, I made it a point to let her express her concerns fully. This approach not only strengthened our rapport but also highlighted an important aspect of sales: often, we find ourselves acting as informal therapists for our clients who happen to be facing tough situations.

For her, the necessity of cleaning up her financial books was not merely a practical issue; it was tied to her emotions and future. The stakes were incredibly high; her ability to salvage the business or exit gracefully relied on this effort. In the hustle of pricing and structuring work, we sometimes forget that behind every transaction is a person with deeply personal stakes.

As I reviewed her financial records, it became evident that rectifying her books was going to require a significant amount of work—definitely not a quick fix. I was aware of the delicate balance I needed to strike in providing an estimate. She was a valued client and a seasoned entrepreneur who needed help, but I also wanted to avoid underquoting, which might lead to an overwhelming project.

To recalibrate my pricing strategy, I referred to a straightforward pricing worksheet I often use. Eventually, I proposed a fee of $4,200. To my surprise, rather than negotiating, she accepted right away, paid the deposit, and expressed that it was the first time in months she felt at ease discussing her company’s challenges.

This interaction reaffirmed a crucial truth I’ve encountered repeatedly: when clients feel genuinely understood and know that you can address their pain points, the issue of price becomes secondary. They seek a trusted partner to help them move forward, particularly if they have the means to invest in the solution.

In the past, I have undervalued similar projects and learned valuable lessons from those experiences. It’s tempting to estimate based on how many hours you assume the work will take, but true value lies in resolving the client’s issues and empowering them to regain control of their business. The reality is that projects rarely adhere to initial time estimates due to unforeseen complexities—even seasoned professionals know this all too well.

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