Ep. 160 - How Your Sales Price Effect Work-Life Balance

Thriving in Tandem: The podcast for married entrepreneurs

We’re all about helping the married entrepreneur create greater work-life balance. A lot of our discussion is around setting boundaries and being more efficient with our time. This week, we want to talk about an often overlooked aspect of the business that largely determines how hard the business has to work to make a profit. PRICE.

Price setting is the most important financial decision you make for your business yet it’s the least amount of time spent on it. Think about it, at the point of sale, that is the most money that hits your bank account. After that, expenses are subtracted. What’s left over is your profit.

The lower your profits per transaction, the harder you have to work. So maximizing your sales price is crucial to make a profit but also prevent you from working harder than you need to. Take a listen to this episode. One small change in your sales price can make a huge difference in your quality of life.

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Want to live a better balanced life and win in marriage AND business at the same time? Purchase our book Tandem: The married entrepreneurs’ guide for greater work-life balance. https://www.thetandembook.com/

Need to create more time to dedicate to your marriage? Download this free guide. https://marriedentrepreneur.co/boundaries

Need some insight into how to balance it all? Schedule a free discovery call. https://marriedentrepreneur.co/lets-talk

Key Takeaways:

• We work really hard every day

• More help, better equipment, faster technology can make our business more efficient

• Lack of adequate profits prevents us from investing into the resources to make our lives a little easier

• Where does it start? Price setting

• Sign up for our Priced for Profit course 50% discount with code: podcast

• Price profit word problem

• Lower margins forces you to work harder for the dollar

• Higher margins earns more money and free up time

• Allows you to give better service and invest into creating and delivering a better product

• It’s a game changer

• Overcoming fear

• Higher price either gains you more customers or if you lose some, the increased profits more than makes up for it

• Allows you to pay higher wages and give more away

• I’d rather give it away than discount my price

• Sign up for our Priced for Profit course 50% discount with code: podcast