Costing and pricing

Workshop with Dewi from the Centre for Enterpreneurship

New 2016 Centre for Entrepreneurship Logo.jpg

Perception of value

Our perception of what  costs more and less

Waitrose, Marks and Spencers vs Primark Ikea Tesco Lidl Savers ?!

Brand image

we are constantly being conditioned to pay more

Benefits of pricing strategy:

  • less stress, more focus, confidence
  • increace your chances of success
  • more tima means more chances
  • make what you deserve
  • create what you want to create
  • realise the impossible
  • smarter not harder (more time)
  • stand out amongst the crowd
  • build a sustainable career

Time is everything. Time is money

How do we cost our work? 

1kg coffee

Supply: cheap doesn’t always mean right;

supply chain :

Materials/No Units + Hours worked + Total fixed overheads/ Feasible units

Cost is the bare minimum of the price-cost affects profit

increase profit = increase chances of success

If you want to buy something, negotiate it!

1.5

5 ways of adding value without increasing the cost

5 white tshirts 75p each: increase the price  VALUE

FAST CHEAP QUALITy – only choose 2

Good record keeping!

Figure out what you want to earn

Look for clues – what are others charging?

negotiate

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