Now is that what we want from business? We want to make products, or create a service …and want them to be products and services that people love and are willing to purchase.
At the end of the day, there is a clear sales transaction that we have. Customers want item X, they make a purchase in exchange for money and we deliver that as a business.
As a start-up business, I was a little muddy with price points in the beginning. What can we charge for? Cake toppers are what the customer is buying. They are also buying the design time, the packaging, the idea... Thinking back, I spent hours and hours setting up business elements, working on designs, refining the idea and setting up systems for the transaction.
But can I charge for all that? Can I charge for the bubble wrap I use? Figuring out your costs and where your value is can take a while! Spend some time mapping out the time it takes you to do ‘admin’ stuff and get real about what it actually costs you and real about what you are selling.
Being clear about your selling point goes beyond price. More so, it is about your brand, your product and your service. In an environment where there are many of us doing very similar things, how do we make sure that we are seen as unique businesses?
Consider what makes up your brand, your product line, and your service capabilities. These are key elements to give you a solid foundation to build your business and maintain integrity.