Not Making Enough Money? Think About Reevaluating Your Line of Products or Services.

how to properly price products and services

Our post today is going to be very beneficial to you as a business owner or a leader in the small business community. One problem we hear all the time is that people (especially professional salesmen or business owners) are simply not earning enough income.

That’s a problem many of us have and will face throughout our lives, and I want to take a different approach as we look at it. Not just from a business development standpoint, but from a numbers or metrics standpoint. The issue is that a lot of times people sell a ton of different products and services, but the margins don’t make sense. And so in essence they’re selling stuff that they’re not making money on. Are you in this situation right now? Maybe you’re selling products or services where if you really think about all the time or money invested on your end, you realize that you’re barely breaking even or actually losing money. Basically, ask yourself this: When all the expenses are said and done, does it make sense to sell every product or service I currently offer?

Furthermore, when’s the last time you really reevaluated your margins on all your products and services, and made sure that they were all beneficial to focus on for your company?

Once you nail down the products and services with the right margins, you also must identify the ideal target market. Who are the people with the income, means, and need to invest in those specific products or services? What happens is when you identify that target market, then you’re able to have a win-win-win for everyone. The company wins; the salesperson wins; and the customer wins, because you’re helping them benefit from products or services that make sense for them.

The limiting belief we have to overcome is that sometimes, it’s more than just selling more, more, more. We have to sell the right products and services to the right people. So go out and take action on this today, and have fun doing it.