Nonobvious Pricing

There are a lot of advantages to being a large company. Freedom to experiment is not one of them. As a small professional service firm or solo, if you are not taking advantage of your natural advantage, you are missing out on some potentially game-changing insights.

Today's newsletter focuses on business problems ... and making sure you are applying the correct solutions. It is, however, maybe the longest newsletter I've ever written. So if you are one of those, "I'm too busy to read long things" people, I won't mention the fact that you binge-watched all of season two of Severance last weekend.   

Getting clients is important.  But holding onto them – for a long, long time – matters just as much. Today's newsletter, after an opening story that, between you and me, goes on quite a bit longer than necessary, explains.

Business is about creating something of value so that others will pay for it. Understandably, that leads professionals to mostly focus on minimizing cost while maximizing revenue. In practice, it's a bit more complicated. The more value you give to clients, the less likely they are to leave and the more likely they are to tell others about you – both of which lower your marketing costs. Confused? Today's newsletter probably won't change that. But you never know...

I received an unwelcome surprise this week.  Fortunately, nothing super-serious. Still, as today's newsletter explains, a good reminder of the importance of planning for occasional hiccups in our respective businesses.

Running a business can feel overwhelming. So much to know and do and think about. The solution? Get a job. I'm kidding; don't do that. Instead, figure out what really matters and stop worrying about the rest.

People like us – small professional service providers and independents – live in a word-of-mouth world. Much of our marketing occurs informally and without warning as we move throughout the day. Which means, as today's newsletter takes way too long getting around to explaining, you always need to be ready.

Do you use much automation in your work? Me too. It's pretty much a necessity for small firms and solos. But at some point, too much of it defeats the purpose. Today's newsletter explains.

Who's your perfect client? If you said "everyone," today's newsletter is for you.

I never raise my fees. Really? Okay, no, not exactly. But sort of. Read on for more. Read off for less.