Pricing strategy and getting paid – Carnival of Home Business fourth edition

This is the fourth incarnation of the Home Business Carnival! Welcome.

The theme for this edition is Pricing Strategy, medicine and getting paid. Setting the right price is a criticial decision you need to make early on, before putting your product or service on the market. Price it too high, and nobody will want to buy it (unless of course you are going for the luxury market), or prices it too low, and you are more likely to lose your shirt.

To get us started on a solid footing, here are 5 Top business pricing strategies for your new product or services from “No more cubes“:

  1. Being Cheap is not always good
  2. Giving it away is an option
  3. Make sure you covering your bases (an other way not to lose your shirt)
  4. Go for the gold
  5. If you are a freelancer or consultant, shut up!

David Lorenzo, a regular contributor to this Carnival, has a new treat for us, from a different blog: Sales Intensity. In his recent article How much can I charge, David explains how you can set prices either based on your cost, or the value to your customers, and what are the plusese or minuses of each approach. A must read!

In an older article, blogtrepreneur can help you sort out the various online payment methods in his Payment and Customer Service post. He also reminds us on the importance of a good reputation, which good customer service can go a long way in building and preserving.

Zamri Nanyan covers alternatives methods of payment you can use online along with other tips to make people more comfortable buying online. Read his article Credit Card and Online Purchase.

And finally, David Stern, from Financial Think for Entrepreneurs sent us an article on budgeting. To make a good budget: Make like spaghetti. Or, as he puts it: throw some numbers at your wish list and see what sticks 🙂 A good budget can help you figure out your costs, so you get your pricing at least high enough.

Thank you for everyone who contributed, this carnival would not exist without you! A lot of good articles, and if you did not get published this time, please submit again your article most related to the upcoming carnival topics. If you’d like to host an upcoming edtion, drop me a note.
After 4 successful monthly editions, the carnival is going to switch to a weekly edition. Send in your submission for edition #5: “What’s the best company structure for your home business“. Edition #6 will be about “original home business ideas”.

Update: there is a new carnival you may be interested in starting at Working at Home on the internet: Working a home blog Carnival

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