How do I stay within my clients’ budgets while my costs keep going up?
How do I stay within my clients’ budgets while my costs keep going up? My clients are loyal and my business has been successful through word of mouth, but in my area I have to be careful not to price myself out of business.
Prices must be dictated by expenses and include profi t for yourself. Your client’s budget should not be a concern if you are focused on serving the top 10% of your ideal clientele. The theory behind focusing on the top 10% of your clients is to have fewer clients spending more instead of more clients spending the same. If professionals would focus on quality rather than quantity of clients they would grow their average ticket instead of their client base. Focus your energies on those ideal clients that love you and want to spend. Give them an incredible experience rather than packing in a lot of clients. With fewer clients and less product waste, it’ll be easier to stay profitable. — Louis Mattassi is a trainer and coach with Salon Training International