GoE MindMillion Daily ExercisesThe Energy Of Wealth
156. The Price Is Right
Today's Money Energy Exercise is: The Price Is Right.
Here is an interesting thought. In all forms of business you sell things for a price, whatever they may be.
But how is that price arrived at?
In big businesses, there are all sorts of reality based calculations to arrive at a price for a product – a whole heap of factors is taken into consideration, from where the product is positioned in the market place, for example. Is it a super-cheap product, a mid range product or a premium product?
Another consideration is the production cost to end sales; and the end sales themselves are with many different prices, depending on how much discount the wholesalers and retailers get, and so forth.
When people first start out in their various businesses, they don’t set their prices in that way. It’s much more of a random thing, and often, they price way too cheap.
So you and your business might have “inherited” a pricing system for your products or services from times past, when circumstances were different, when you didn’t know as much as you do now, or you weren’t really sure as to what you should be charging.
Today, we’re going to just take a look at your prices, and wonder if your price is RIGHT.
And as an aside, and as I’ve heard there are people reading these messages who aren’t in business and they’re just doing the exercises to get more mental flexibility, this is also true about other types of “prices”, like how much you are willing to do for how much in return in relationships.
Time stands still for no business man or woman :-) so … let’s take one of our precious minutes here, sit back, think of your products and services and consider if THE PRICE IS RIGHT.