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Confessions of a Price Guesser: Essential Tips for Entrepreneurs | Paul 'PJ' Jackson (GTM Coach, Mentor & Entrepreneur)
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Do you know what practical steps entrepreneurs can take to set and communicate the value of their services effectively?
In this episode, I sit down with Paul ‘PJ’ Jackson, GTM Coach, Mentor and Entrepreneur, who shares captivating stories including one from his time at a major media company. PJ successfully monetized dormant assets by aligning 10 departments and 168 photographers through persistent communication and a focus on demonstrating ROI.
In another segment, we explore the journey of Mary Lou, who transitioned from a Chief Evangelist role to a coaching career. We discuss how reevaluating her pricing strategy helped her align her professional goals with her personal objectives, particularly gaining flexibility to spend more time with her daughter. By recognizing the true value of her services, Mary Lou significantly increased her rates, showcasing a common entrepreneurial challenge of undervaluing one's offerings and the importance of aligning pricing with one's ultimate goals.
We highlight the subjective nature of pricing and the necessity for business owners to be comfortable with their rates to maintain quality. Practical steps for gaining confidence in higher pricing, such as leveraging past experience and effective self-promotion, are also discussed, providing listeners with actionable insights to implement growth strategies in their own businesses.
In this episode:
(0:00:00) Background on PJ, and a compelling story from his experience working with a major media company to monetize dormant assets. PJ successfully created a pricing structure that benefited both the photographers and the company, ultimately turning them into advocates for the new initiative.
(0:12:59) Understanding one's ultimate goals and aligning business strategies to achieve them. We explore a case where an individual named “Mary Lou” transitioned from a Chief Evangelist role to a coaching career.
(0:19:00) The intricacies of pricing strategy and the importance of aligning it with one's values and goals. Being clear about what you want—whether it's financial success, time with family, or market leadership, and the pitfalls of underpricing, such as undervaluation and reduced quality.
(0:25:00) Applying learned lessons to your business operations to ensure growth and success. Whether you're managing a SaaS company or another type of enterprise, we emphasize the need to take actionable steps based on these insights. Never apologize!
(0:30:00) - Favorite jams – Tupac and Santana/Rob Thomas
Welcome to Street Pricing, the only show where proven SaaS (Software as a Service) leaders share their mindset and mistakes in pricing so we can all stop guessing and start growing. Street Pricing is hosted by Pricing I/O CEO and Pricing Coach, Marcos Rivera, sought after slayer of bad pricing. With 20 years of pricing expertise, he has helped price over 200 SaaS products and coached over 100 SaaS CEOs and counting! From the streets of the Bronx to CEO, Marcos wants to take the guessing out of pricing.
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