Top 10 Ways of Knowing Your Prices are Too Low!

. . . and You Need to Come to My Class!
1. You get every job that you quote on the phone
If every price shopper that calls sets up an appointment with you, that means you are the cheapest, and if you are the cheapest, in my opinion, that is nothing to brag about. (Read some of my previous blogs about trying to be like Walmart, the low price leader in your market)
2. You are really busy, but still can't afford to buy the things you want? Do I really need a comment here?
3. When someone asks you what your net profit margin was for last year, you don't know what they are talking about. Are you a businessman or not? Go buy the book "How To Sell At Margins Higher Than Your Competitors, by Lawrence L. Steinmetz.
4. You go by the name of "Discount, Budget, Cheap or Fly by Night" Just trying to be funny here . . . or maybe not.
5. You say the phrase "At least it is work" or "At least it is keeping us busy" at least once per week! Personally if I wasn't making a profit doing work, I would go fishing all day instead.
6. You're slogan is "We will beat any price!" It should be followed by "And we'll go broke doing it!"
7. You are afraid to answer the phone. Those pesky bill collectors actually want their money too!
8. You are not set up with a regular paycheck and only pay yourself when there is some cash left over. Your pay should be considered as a regular part of overhead.
9. You have no retirement plan. You should charge enough to have funds set aside regularly to take care of you and your family when you decide to leave the business. Or, have enough service plans & contracts to make your business have value when you choose to sell it. I recommend you seek a financial consultant's help here for a plan to exit your business some day.
10. When you call to schedule a continuing education class with me, you say I am too expensive and you can get it cheaper somewhere else. If you think an extra fifty or sixty bucks isn't worth getting information that will help you turn your business around, there is nothing I can do for you. I would rather not have you as a client.