In this episode of The Business Coach Podcast, host David Finkel delves into the intricacies of pricing strategies with Rich Wood, the coaching director for Maui Mastermind. They discuss how to intelligently set prices using three key strategies: pricing from the inside out, the outside in, and value-based pricing. They also address the common fears businesses have around raising prices and share actionable insights on how to handle price increases without losing customers. Additionally, they explore how business owners can identify their best clients and manage their least profitable ones through strategic pricing adjustments. Tune in to discover practical tips for achieving better profitability and efficiency in your business. #BusinessCoach #PricingStrategies #Profitability00:00 Introduction: The Importance of Pricing00:36 Welcome to The Business Coach Podcast01:17 Meet Rich Wood: Expert in Business Coaching01:38 Three Key Pricing Formulas02:22 Casual Conversation: Hiking and Gadgets04:20 Case Study: Pricing Challenges in a Data Analytics Company06:24 The Art and Science of Pricing10:36 Value-Based Pricing and Sales Skills16:39 Commodity vs. Differentiated Business Models22:19 Handling Fear of Price Increases27:15 Final Thoughts and Takeaways----- LinksWebsite: mauimastermind.com/Facebook: facebook.com/MauiMastermind/Instagram: instagram.com/mauimastermind/LinkedIn: linkedin.com/company/maui-mastermind

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