Growing up with frugal, conservative parents, these statements and their implications are all too familiar:
- Don’t waste your money
- If it’s free, you should take more (if it’s a physical object)
- Don’t spend your money on trash
- How much did you spend?
Now that I have the Habit Factory to run with workshops to market, this type of thinking has admittedly caused more harm than good when it comes to pricing our product.
In business, nobody can sustainably offer their products for free all the time.
So how do you know your worth?
I know our team puts in a lot of care, time, and expertise in order to pull off our workshops.
It’s not something everyone under the sun is willing and able to do.
And, we’ve proven ourselves time and time again that our product solves a problem that people care about.
Not only do we have to pay our team members fairly for their work, but we also have to have enough to reinvest into business growth (and of course, running expenses).
So that’s it. That’s the “math”.
Bottom line: Whatever I decide those 2 amounts to be (and factor in expenses) will be the price tag on our work. The market will react however they will react, and we can adjust.