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How to price your services to support your business and your life
Anyone who has ever been running a service based business or freelancing knows the pain of pricing. Price, known as one of the four P's in the traditional marketing mix, plays such a huge part in getting your services sold. It's a factor in your marketing, it affects your branding. Therefore a common misconception is the price should be low, lower than the competition, to lure more customers. However, there are many other things that play a huge part in how to price your particular services. Value based pricing, to which I return later in this article, is quite difficult and vague concept to most of us. The most important thing, from your point of view, is if your prices can support your business and your life. As I explain further down this article, this becomes also very important for your clients. This article isn't about making you rich. It's about making sure your prices create enough income to support your business and, most importantly, your life.