The Way to Price

Amar Pandit , CFA , CFP

Amar Pandit

A respected entrepreneur with 25+ years of Experience, Amar Pandit is the Founder of several companies that are making a Happy difference in the lives of people. He is currently the Founder of Happyness Factory, a world-class online investment & goal-based financial planning platform through which he aims to help every Indian family save and invest wisely. He is very passionate about spreading financial literacy and is the author of 4 bestselling books (+ 2 more to release in 2020), 8 Sketch Books, Board Game and 700 + columns.

Pricing is a complex subject (not to mention the creativity that is often required in it) and one that is rarely understood by most people. Knowing the costs of your services is not the same as knowing how to price it.

The objective of today’s Nano is to get some basic insights on how to price as well as how to communicate pricing through a powerful visual. The insights are open to interpretation, but I hope we all collectively come to similar conclusions.

I got this image on WhatsApp that beautifully captures the nuances of pricing.

There was a note below the image that read “designer team starts with collaboration, but the client quickly takes over designer’s job leading to increasing costs.”

This happens in every field but most of the time, professionals do not know how to factor this in their pricing model.

What do you think of the visual? It’s not only an excellent example of pricing but more importantly an excellent one to communicate pricing to a potential client.