The Emotional Side of Pricing: A Lesson in Understanding Client Needs

In the world of sales, the numbers often tell a story, but it’s the emotions behind those numbers that truly drive decisions. A memorable sales call I had last year serves as a poignant reminder of why setting the right price can be the lifeblood of any business, especially in the service industry.

It all began when a restaurant owner, a former client of mine, reached out in a state of distress. Her sales figures were dwindling, her financial records were chaotic, and she was contemplating selling her restaurant. To complicate matters further, she needed a line of credit but had no clear financials to present to the bank. We hopped on a call, and I took a backseat as she poured out her concerns. It’s fascinating how sometimes, in the role of the consultant, one has to step into the shoes of a therapist—armed only with an understanding of Excel.

For her, the need to clean up her financial records transcended mere practicality; it was deeply emotional. This endeavor could either pave the way for her to continue in the business she loved or signal her exit from it. The stakes were undeniably high. In the hustle of discussing numbers and pricing services, it’s easy to overlook the human aspect on the other end of the line. Business, particularly small businesses, can be profoundly personal.

As I assessed the extent of her financial disarray, the intertwining of personal and business spending, and the sheer urgency of her situation, it became clear to me that this wouldn’t be a simple task. Despite our rapport, I was cautious about pricing. I didn’t want to shock her with a high estimate, nor did I want to undersell the time and effort needed for what would inevitably be a complex project.

To determine a fair price, I referred to my trusted pricing worksheet (which I’m happy to share in the comments). After carefully considering the scope, I proposed a fee of $4,200. To my surprise, she accepted immediately, promptly paid the deposit, and expressed that it was the first moment in months she felt a sense of relief discussing her business situation.

This experience reinforced a key principle I’ve encountered repeatedly in my line of work: when clients feel genuinely understood and have their pain points addressed, pricing tends to take a backseat. They seek reassurance and solutions from someone they can trust, especially if they have the financial means to invest in that help.

In the