Marketing - Lifestyle and Marketing Notes on Setting and Raising Prices
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Marketing is all about connecting with the right people at the right time. It's about understanding what your audience needs and wants, and then showing them how your product or service can help them.In short, it's the art of getting people interested in what you have to offer.
Lifestyle and Marketing: Notes on
Setting and Raising Prices
Marketing
Lifestyle and Marketing
If you think you need to live large to attract business, think again. What attracts business is a
valuable offer delivered to the right prospect with confidence, integrity, and consistency. On the
other hand, it is almost impossible to attract business when you are desperate for work.
Your lifestyle choices can underscore your commitment to an authentic and connected life, one
lived in awareness and respect of the well-being of others and of the planet. Living these choices
and letting them inform how you show up in the world can be a compelling aspect of your
personal marketing formula. They can distinguish the offer you are in your chosen market niche.
Insurance, Taxes, Retirement, and More
Other considerations for the self-employed are medical, dental, life, and disability insurance. In
addition, you may need professional liability insurance, insurance on your equipment and
records, and insurance to protect you in the event of accidents on your premises.
Self-employment taxes can take the unwary by surprise. Check with your accountant (you do
have one, don’t you?) and find out what your tax liabilities are likely to be.
How do you plan to fund your retirement? There may be tax-advantaged plans available to you
as a small business owner. Again, check with your accountant. (Have you noticed that one of the
expenses you will need to plan for is accounting?)
It is easy to overlook hidden costs such as depreciation. Think about the furnishings and
equipment you use and how often you will need to repair or replace them. Where will you get
the money for these expenses? How will you pay for software upgrades or for a technician to
debug your computer?
The following outline can help you understand how to set your own rates and why there is no
“one size fits all” formula.
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