278 - How to Price Your Thing
278 - How to Price Your Thing
Listeners, this week we talk about all things pricing. Something people always ask is "how much should I charge for it?" and the question I always come back with is how much do you want IT to make you? And while this question may not resonate with everyone, it is the beginning of exploring our desires. Why do you want to make the thing in the first place? Do people want it? And truly, what number feels safe for your body to ask for? Truth is the number we feel safe with isn't always the answer, however, it provides a gauge from what our nervous system can sustain as far as stress from asking people for money.
After that, it's all math.
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Timestamps:
02:26 - Define your hourly rate
07:10 - Define your thing
07:34 - Define the transformation
08:25 - We are not fixing people
09:48 - Revenue
10:59 - Production time and costs
11:29 - COGS
12:20 - Bring everything together
13:52 - Break-even point and profit
15:16 - Profit
16:27 - Consider the market
17:06 - Check in with your body
17:58 - Asking your body
18:32 - Closing rate
23:08 - Using math is the most clear way
24:17 - Give from overflow
24:40 - Last questions to consider
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