Pricing Archives | The Chameleon Guide
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Posts Tagged Pricing

A simple way to work out how much you need to sell to hit your revenue targets

I was with a client recently and they shared how much money they wanted to be able to take out of the business in the long term. So what we needed to do was some maths to work out how to get there. And here is what we did. I’m going to make up the figures to preserve anonymity. They ultimately wanted to be able to take £5000 a month from the business. Stage 1 – identify current revenue and profit margins 1. Identify current annual revenue (sales or turnover) 2. Identify the net profit (the amount left over after […]

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Successful businesses have a plan

That successful businesses have a plan shouldn’t be too much of a surprise to you.  But the number of businesses that don’t have plans is extremely high – in excess of 75%. And then they wonder why they languish in what Daniel Priestley, in his excellent book, Key Person of Influence, calls the ‘Struggle Zone’. The Struggle Zone is characterised by small business owners who either work on their own, or have up to two people working for them. They have no time, no money and are hugely stressed and on the verge of burnout. This is not what they imagined […]

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Why the cheaper option is not the best option for anyone

When you’re strapped for cash it can be tempting to pay for a solution that seems to offer what you want for a ridiculously low price. When you’re strapped for cash it can be tempting to drop your prices to get business. Unfortunately either can do more damage than good. The first statement is brilliantly highlighted in a blog post I read this week from Dave Farmer of Lime Consultancy where he describes how he got tripped up by the Dunning-Kruger effect.  ‘What the blooming flip is The Dunning-Kruger effect?’ I hear you cry.  I didn’t know either. But it’s where incompetent […]

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Why selling on price is a bad thing (and why differentiation is a good thing)

It’s very tempting to be the cheapest because that’s what you think you need to do to win business. This blog explains why it’s not a good idea.

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