On today’s podcast episode we are chatting all about three different areas you may be overlooking in your pricing structure!
Take a minute to think about how much time you spend in your business on tasks unrelated to making the products you’re selling. Think answering emails, updating listings, developing social media captions, creating graphics for instagram stories, working on your email list, taking photos of your products, the list can go on and on! Start tallying up these hours and see how many hours you find yourself spending on these tasks every week/month. Once you have an idea of how many hours you are spending each month you can work this back into your pricing.
Steps in Production Process
Are there multiple steps in the production process of the items you sell? Be sure all of these steps are included in your pricing model, as well as the time it takes you to package and ship your orders!
Taxes, Health Insurance, Retirement
Do you have a buffer in your pricing to account for the large expense areas like taxes, health insurance, and retirement? Be sure to create an area in your pricing structure to put aside money for these larger expenses!