New PSU Sessions

Setting Your Fees and Prices
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Introduction to Setting Fees and Prices

Determining the "right" price for your programs, products, and services is one of the greatest challenges facing professional speakers. And as the Insights in this Focus show, there is no simple answer to the question of "what should I charge?" But the fact that there is no simple answer means that it's even more important that you give your pricing serious consideration.

One of the reasons that there is no simple answer is that there are so many other questions that you need to answer first. These include —

  • What are your other products and services, and how do they relate to each other?

  • Is this a one-time-only sale, or do you hope for future sales?

  • What are you getting for the sale of this product or service? (It may be hard to believe, but money is not your only objective. It might not even be your primary objective!)

  • What is your gross profit on this sale? Net profit? (Both are important!)

One note before you proceed — if you haven't explored the focus on "running the numbers", I urge you to at least browse through it. You might find a few surprises hidden there, and it might actually save you some real money!

Jim Barber
signed Jim

Jim Barber
Creator of Pro Speaker U and the Finders Speakers Marketing Center, and Head Barber of one of the web's longest-running sites, The Barber Shop

Here are Insights # 1 - 10 (of 19 total Insights)
in the focus Setting Your Fees and Prices....
1: Introduction to Setting Fees and Prices — Determining the "right" price for your programs, products, and services is one of the greatest challenges facing professional speakers. And as the...
2: Are Speaking Fees Really That Important? — Before you explore how to determine the appropriate price for your speech (or other product), let’s consider several reasons why the fixation that...
3: What's Your Preconceived Value? — Now that you’ve seen that speaking fees are not your sole concern (and possibly not even your primary concern), let’s start exploring how you can go...
4: What's Your Cost of Production? — Another way of determining the price or fee that you charge for something is to determine the costs of producing it. If you want to make a profit by...
5: How Much Is Your Time Worth? — Earlier you considered production costs in producing a physical product. But production costs apply to your speeches and programs too. And knowing...
6: Production Costs of a Keynote or Seminar — Now that we know how much your time is worth, we simply need to figure out how much time the project requires. As you saw earlier, it’s all about...
7: Determining Your Fee From Production Costs — Now let’s say that your marketing campaign brought in a total of ten speaking engagements. You can easily see that you need to charge $4,700 per...
8: Want vs. Need — Knowing how much it costs you to produce your product (whether a keynote, a book, or a training program on DVD) is valuable in setting your price or...
9: How Badly Do You Want the Sale? — Another consideration in pricing your resources is, how important is the sale to you? And why is the sale important to you? If you really want the...
10: Does Increasing the Price Increase or Decrease Desirability? — Sometimes significantly increasing a price on something can not only increase demand for the item, it can actually increase sales... and this...

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