When and How to Switch to Value-Based Pricing
Description
Today, I wanted to talk about when and how creative service consultancies or creative service businesses can switch to value-based pricing.
And the main thing we're going to focus on is the power of specializing and productizing for the creative industry.
Here's the thing: A customized services business is not built for scale. A company that is built for scale has set processes, prices, and products. And, the longer you stay as a customized services business, the harder it is to get to stage 2, which involves value-based pricing, specializing, and scalability. Which is about strategy and not tactics.
The reality is, your goal should be to do less, but more significant work, with much higher profit margins, which becomes possible when your systems don’t need to be adjusted for each client, and you’re providing a very specific result or a solution to a very specific problem.
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