A story about pricing

by | Jan 25, 2017

A story about pricing


Today I’m sharing with you a story about pricing. Deciding what to charge for a product or service can be such a complex topic. There are many schools of thought, heated debates and “success” formulas on this matter. Deciding on a price can be as much as how you feel and think about what you should charge, as much as it’s about what your think others are willing to pay for your offering. I hope this story shows you the importance of value pricing.

Pablo picasso’s story about value pricing

Legend has it that Pablo Picasso was sketching in the park when a bold woman approached him.
“It’s you — Picasso, the great artist! Oh, you must sketch my portrait! I insist.”
So Picasso agreed to sketch her. After studying her for a moment, he used a single pencil stroke to create her portrait. He handed the woman his work of art.
“It’s perfect!” she gushed. “You managed to capture my essence with one stroke, in one moment. Thank you! How much do I owe you?”
“Five thousand Francs” the artist replied.
“But, what?” the woman sputtered. “How could you want so much money for this picture? It only took you a second to draw it!”
To which Picasso responded, “Madame, it took me my entire life.”

Moral of the story

#1: Never price your services for the time spent but for the value your client will get.

#2: Work out the price with the client BEFORE you start the work.

When I first started out, I made the mistake that many people make and charged my prices too low. There are a number of reasons why people do this. If this strikes accord with you, then I suggest one way to get over this hurdle is to make a list of 25-100 reasons why you deserve to charge a different price, or why the value you provide is worth more. Keep on writing until you really run out of ideas. Often people stop at 15 reasons, but then dig deeper and then suddenly find 20-30 more ideas about the value they offer to their clients. Once you have finished, look at the list and put theme/ideas into similar topics. It will help you identify your core 3-5 soundbites on how you help your clients the most. I recommend this approach as it kills two birds with one stone. It helps to fix your internal mind-set around the value you provide and offer to clients, AND you create a list of responses to pricing objections. As a bonus, you can use some in your sales copy.

Stay on your own path

As I said before, pricing your product or services is a big topic. My parting words would be to know there are people who will be more expensive than you. There will be people who are cheaper than you. And that is OK. Stay on your own path. You are unique. Focus on the value you deliver to your clients. Make your pricing unique to you and what you offer.

Clare Fielder

Clare owns a digital and web design studio at ThePistachioClub.com. She loves making the internet more pretty (and functional) one website at a once. However, she has some other hidden talents and has been in a Hollywood movie and was a dance performer in the 2012 Olympics. She loves to explore the local coastline in Dorset, and at weekends you’ll often find her hiking.

I’d love to hear your thoughts? Comment below.



Office Hours: Monday-Friday 9am-5pm GMT

Email: clare {at} thepistachioclub.com

Skype ID:  Clare_Fielder

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