In this episode, Nikole Mackenzie and Scotty 'OKR' Scarano dive into pricing strategies for service-based businesses. They explore the pros and cons of various pricing models, from time-based and fixed fee pricing to subscription and value-based pricing. Through engaging anecdotes and real-life examples, they shed light on the importance of understanding the market, setting a foundational price, and the psychological impact of price perception.
Whether you're a small business owner or a seasoned entrepreneur, this episode offers valuable insights into optimizing your pricing strategy for better financial outcomes.
Chapters:
00:00 Introduction
02:46 Cleaning Scott's Air Vents
11:52 The Four Pricing Models for Professional Services
13:19 Hourly Billing
16:02 Fixed Fee Pricing
21:16 Discounts
25:15 Loyalty Programs
27:21 Pricing to Your Ideal Clients
29:36 Value Pricing
31:51 Nikole's Mattresses
38:36 Dynamic Value Pricing
39:08 Performance Based Pricing
40:33 Mixing Strategies and Adapting to the Market
Connect With Us On Linkedin!
Nikole Mackenzie
https://www.linkedin.com/in/nikolemackenzie/
Momentum Accounting
https://momentumaccounting.com/
Scotty OKR Scarano
https://www.linkedin.com/in/scottscarano/
Padgett NC
Accounting High
