In the initial stages of launching a service-based business, it's common to start with lower rates to attract clients and gain experience. Many entrepreneurs begin by charging hourly, ensuring they are compensated for their time. However, as expertise grows, sticking to hourly rates can hinder long-term profitability.

In this episode of the Sassy Strategist podcast, host Kim Dawson explores three key pricing models: monthly retainers, project-based pricing, and packaged services. Kim discusses the pros and cons of each, emphasizing the importance of transitioning away from hourly rates to build sustainable success. The episode delves into practical examples and strategies for implementing these models, providing valuable insights for businesses seeking to optimize their pricing structures.

KEY POINTS FROM THIS EPISODE

• Begin with lower hourly rates to attract clients and gain experience.
• Relying solely on hourly rates can devalue expertise over time.
• Monthly Retainers offer stability and easier budgeting for service providers.
• Project-based pricing is ideal for one-time projects and helps to prevent miscommunication around expectations between you and your clients.
• Packaged Services offers different service levels for various budgets without compromising value.
• Flexible packages and tiers can help you maintain profitability and widen your clientele.
• Combining pricing models bridges revenue gaps without losing income.

ABOUT KIM DAWSON

Kim Dawson is a small business strategist, consultant, accountant, and lifelong entrepreneur with a unique background and experience in a wide variety of industries. 

Kim’s the author of the Amazon best-selling book Passion to Profits: Your Guide to Building a Successful Business You Love and host of the long-running Sassy Strategist podcast where she delivers practical strategies to help you manage and grow your business. 

Kim works with small business owners to help increase revenue, cash flow, and profitability to help them achieve their goals for growth. 

Her passion is in helping those who are building more than just a business; they’re crafting a life rich in experiences, skill, and personal and professional fulfillment.

When not working, Kim can be found hiking in the woods, going for a run, watching Jeopardy, solving math problems for fun, or reading about her latest topic of interest while enjoying a cup of coffee and listening to music. 

If you’re ready to have a business that supports the lifestyle you desire, book a call with Kim today at https://kdawsonco.com/.