📖 From a book called The Personal MBA by Josh Kaufman…
Imagine that you provide an ongoing service to a Fortune 500 corporation that increases their annual revenues by $100 million.
Is your service worth $10 million a year? Sure—after all, what company would give up $90 million in ongoing revenue?
Does it matter if providing this valuable service doesn’t cost you much money? Absolutely not—even if it only costs you a hundred dollars a year to provide the service, you’re providing a huge amount of value, which supports the comparatively high price.
Does it matter if most business-to-business services cost $10,000 or less? Absolutely not—you’re providing much more value than other services in the market, which completely justifies a higher price.
Keep this in mind next time you’re pricing something.
Also these words from Warren Buffett…
Price is what you pay. Value is what you get.
The more value you provide, the higher your price can be 📈
