How to Price Your Products & Services Correctly | Common Mistakes People Make When Pricing

Learning to Price Correctly is the Core Foundation of Having a Profitable Business. So How Do You Price Your Products and Services to Ensure You Have a Profit at the End of the Day and You Aren’t Leaving Money on the Table?

First, you need to understand the common mistakes people make when setting their prices and then understand what your prices must account for. When you put this all together, you come up with the perfect way to set your prices on your products and service.


KEY MOMENTS IN THE VIDEO:

00:00 How to Price Your Products & Services Correctly
00:34 3 Costly Mistakes When Pricing
01:14 Pricing to Competition
02:14 Under Valuing Your Products or Services
03:37 No Accounting for Expenses Correctly
04:26 The #1 Calculation You Need to Know
05:53 How to Figure Out Your TRUE Costs of Goods (COGS)
07:23 COGS for 3 Different Types of Businesses
09:31 COGS for Batching Multiple Items as One Time
10:47 Why Your Labor Should Be in Your COGS
12:31 How to Figure Out Your Expenses for Pricing
15:00 Pulling it All Together to Set a Price
16:40 Profits Go Into 3 Buckets
17:44 Job Wages vs Owner Wages
18:30 Knowing Your Business Numbers to be Profitable
19:48 How to Learn More
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**TIPS for RUNNING A PROFITABLE SMALL BUSINESS**

Want more? Here are some videos to help on Pricing:


 Pricing Your Products Correctly – https://youtu.be/AQ_mUb1E9MQ
 Pricing Your Services Correctly - https://youtu.be/doAKxyRa4pM
 How to Read a Profit & Loss Statement - https://youtu.be/jFgqMVmXbx4


WEBSITE: http://babolearning.com
Don’t forget to get your Badass Business Owner Merch - https://badass-business-owners.myspreadshop.com

FREE GUIDES / TOOLS
 FREE eGuide: 8 Steps to Earning $100,000 in Income in your small business - http://bit.ly/8Steps100k
 FREE eGuide: How to Read a Profit & Loss Statement - https://bit.ly/ReadPL
 FREE Start Up Guide for Starting a Business - https://bit.ly/BusinessStartUpGuide
 Free Business Health Check: https://bit.ly/BABOHealthCheck
 Free eBook: 10 Questions to Ask in Your Business https://bit.ly/10QuestionsBiz

COURSES to HELP YOU
 Understanding Your Business Numbers - http://KnowYourBusinessNumbersCourse.com
 Start a Local Small Business – http://StartASmallBusinessCourse.com


PLAYLISTS TO CHECK OUT:
 PLAYLIST: Learning Your Business Numbers Better: https://www.youtube.com/playlist?list=PLkSR9dYanvV1tPjNcLppOPDDBn6i4Sdzw

 PLAYLIST: Learn How to Read Your Profit & Loss Income Statement: https://www.youtube.com/playlist?list=PLkSR9dYanvV1YssoiyqLBUlgxYy2hYADj



**AFFILIATE LINKS: I do earn a small commission but at no cost to you. I only recommend companies or items that I believe will save you time, money or help make your business better

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The Badass Business Owner YouTube Channel is for Small Business Owners who are tired of living job to job but want to grow their business income & their personal income. In each video, we discuss how to increase your profits, boost your sales, improve your processes and develop stronger teams.


WHO IS THIS FOR: small business owners who serve their local community, local small business owners, service based business owners, mobile businesses, brick and mortar businesses, handymen, landscapers, pool cleaners, cleaning services, carpet cleaners, window cleaners, ice cream shops, QSRs, restaurant owners, mechanics, plumbers, electricians, real estate agents, dog groomers, franchisees, tradesmen, medical, dentist, insurance, pet business owners, cake makers & those looking to increase profits, boost sales, improve processes and develop stronger teams. Entrepreneurs who want to make more money. Those who want to know their business numbers better!

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