Pricing of products/services

Pricing directly affects the result. Pricing requires courage, knowledge of the market and confidence to value one’s own competence correctly.

Pricing is one of the most important decisions made by the entrepreneur. It not only affects the profitability of the business but also the customer’s image of the product or service. The price must cover all costs and enable a reasonable entrepreneurial income. Remember that as an entrepreneur, the hourly rate charged to your customer is not the same as the hourly wage you receive for your work as an employee. In addition to your own hourly wage, you must also take into account all other costs related to your business, such as value added tax, YEL and other insurances, equipment, telephone and internet expenses, travel expenses, facility rents, accounting, marketing, etc. Pricing requires courage, market knowledge and confidence to value your competence correctly.