Cost is only an issue in the absence of value!
The most important part of selling any product or service is to determine if it is priced correctly and ensure it is profitable. You may be selling your product or service for the same price as your competitors or your may be a lot lower… and you feel you should be charging higher but you are not! Most of it has to do with you under valuing what you are offering. And, when you under value what you are offering you will end up selling with a lack of confidence and not getting the orders!
The best way to determine value of what you sell is to ask yourself the powerful question, “What’s the cost to the client to not use my product or service?”If, the cost not to use you is substantially higher than the price you are selling for then you may have to raise your prices!
Of course, there will be those industries that say that by not using their product or service that the “cost not to do it” is priceless… like the health care or fitness industry. To not get fit or look after your health, you could say is priceless, but I would rather you look at what it costs to have one of the major illnesses; cancer, stroke, heart attack, etc. If you have a heart attack and were out of work and it cost you $150,000 for quadruple bypass surgery then paying $1,000 a month for a personal trainer is of extreme value!
Think about this for your own business, what is your value?
Simply put, if you cannot figure out your value then you do not know what you are selling!
The clearer you become on your value the more confident you will be at what you sell and the more you will sell!
The success of your business depends on your figuring out your value. Once you know your value you will never drop your price… you will actually find clients that value you what you are offering!