I read on someone's blog that the mistake many aspiring entrepreneurs make is that they launch a product which there's no demand for. They get burnt and start thinking differently - they make sure people want whatever they have, and then they launch a product or a service.
that's true Denis. I've made such mistakes before too. Most times, this applies to tangible, physical products or software if you need quite a bit of time and money to make or develop them.
As for service, you can start as a freelancer, understand client's wants, then come up with a solution as a service product. If you don't hire, the upfront costs will be low, time to deliver is also not as long as making physical products.
Hey Marilyn, this is a great read! As someone who has a ghostwriting business myself, this was extremely helpful! The pricing was always something I couldn’t figure out and I also did proposals. Now, I’m trying to clearly define my prices and just base them more on upfront 1-time payments to make it easier. I don’t like itemizing things because it gets too complicated. Thank you so much for sharing this model! Your newsletter is awesome by the way! Just subscribed! :)
hey Khadejah, thanks for reading and subscribing :) Agree with you on itemizing makes things complicated.
I've tried that too and most times clients will have me remove those items that they think they don't want, and their reason will be because of budget.
It would be up to me to show the client that these items are what they needed, but there will be haggling, negotiations and that take time away from us as providers and clients too.
All things service, it's easy for us to stretch our own boundaries. Pricing model can affect our business a lot if we find that sweet spot.
I'm setting up a financial tracker template and will give that away once ready, only to subscribers like you!
I like these 3 scalable pricing models:
1. One-Time Services
2. Monthly Subscription
3. One-Time + Monthly Subscription
great that they are working for you Alex.
The choices will depend on type of service to be delivered, who you are serving and what they are looking for.
I read on someone's blog that the mistake many aspiring entrepreneurs make is that they launch a product which there's no demand for. They get burnt and start thinking differently - they make sure people want whatever they have, and then they launch a product or a service.
that's true Denis. I've made such mistakes before too. Most times, this applies to tangible, physical products or software if you need quite a bit of time and money to make or develop them.
As for service, you can start as a freelancer, understand client's wants, then come up with a solution as a service product. If you don't hire, the upfront costs will be low, time to deliver is also not as long as making physical products.
Hey Marilyn, this is a great read! As someone who has a ghostwriting business myself, this was extremely helpful! The pricing was always something I couldn’t figure out and I also did proposals. Now, I’m trying to clearly define my prices and just base them more on upfront 1-time payments to make it easier. I don’t like itemizing things because it gets too complicated. Thank you so much for sharing this model! Your newsletter is awesome by the way! Just subscribed! :)
hey Khadejah, thanks for reading and subscribing :) Agree with you on itemizing makes things complicated.
I've tried that too and most times clients will have me remove those items that they think they don't want, and their reason will be because of budget.
It would be up to me to show the client that these items are what they needed, but there will be haggling, negotiations and that take time away from us as providers and clients too.
All things service, it's easy for us to stretch our own boundaries. Pricing model can affect our business a lot if we find that sweet spot.
I'm setting up a financial tracker template and will give that away once ready, only to subscribers like you!
Wow, that’s so cool Marilyn! Thank you so much for that! Excited to see what you cooked up! :)
Thanks! 🙏
I think more freelancers should read your newsletter.
Thank you. Just sharing my own experience. I love how you reach out and always connecting with like-minded fellows.