It’s a beautiful Spring morning in the centre of the equally beautiful French Provencale small town of Mougins in 1969. The locals have gathered for their morning café and croissant.
A visitor sits down, orders a café au lait and can’t believe her eyes. There, sitting just two tables away is Pablo Picasso. And not only is the great artist sitting there, he has his sketch pad and materials with him.
She can’t believe it – what an opportunity this is. Somewhat breathlessly, she flips her hands through her hair and sits down next to Picasso. In her faltering French she exclaims how she can’t believe her luck and she wonders if Picasso could quickly sketch her.
“Bien sur – of course” says Picasso, “I love nothing better”.
So the woman poses and Picasso studies her with the eye of a great artist. He then quickly sketches and shows her the completed piece. “Oh my God,” she exclaims, “I must pay you for this!’
“Indeed you must,” says Picasso. “that will be 400,000 Francs.”
“WHAT! That took you just 90 seconds to do, that’s way too much.”
“No, Madam, you are incorrect – it did not take me 90 seconds at all; it took me my whole life to know how to do that.”
This is a part of a story by Paul Dunn on pricing for Accountants but it could apply to any profession or business. The question to this story is “Are you charging your full value?”
Inexperienced businesses often under charge for their services or products for fear of losing the job or sale.
Have you researched forums and competitors for pricing? You could mystery shop or just ring and ask other similar businesses how they charge. Your Accountant is also another source of advice. A short article on pricing strategy is here>>
It could also be a matter of confidence in yourself and your skills. After doing some research and reviewing your figures and goals for your business set your price. Be confident in with your price and it will shine through all your marketing and presentation efforts .
Onwards and upwards to success.
© Munro Accountants 2012
Please leave a comment below