Why Our Prices Are So Low
Image credit: wonderopolis.org
It brings me joy when I hear from my website conversion optimization, website analytics, and virtual networking course leads that my prices are very favorable
As a solopreneur, I have a limited budget when it comes to the tech stack I use for my business. Outside of my cost for office space (for my home office), I run my entire business for around $300 per month.
Therefore, adding a service subscription for even $50 per month is a big consideration for me. And when it comes to hiring someone on an hourly basis to help me with a specific need, I need to look closely at the ROI for anything over $100 per hour.
Given my obsession with cost control, I wear it as a badge of honor when folks who need what I offer tell me that, often, my price points are nowhere near being a deterrent to doing business with me.
But skepticism creeps in when I hear about my low prices from other business owners
On recent calls with potential service delivery and referral partners, some of them have asked me about my prices using phrasing like:
“Why are your prices so low?”
“Why don't you charge more?”
I can hear the subtext. The question they really want to ask is: Why don’t you charge as much as possible (as much as I’ve seen out in the marketplace) to make as much money as possible?
Here’s why I intentionally keep my prices low
The truth is that every business owner’s situation and circumstances are unique. And not every entrepreneur is out to clear $1 million+ in annual revenue in record time, despite the wishful thinking and braggadocio you see all over the place on LinkedIn and X.
I made close to $90k per year in my last in-house role before I opened my business — more than enough to meet my needs and desires, even in expensive Los Angeles. And my immediate goal is a modest 2.5x that amount.
If I start consistently having $15k+ months, that is huge in my world. It would cover all my expenses, afford my wife and I more downtime, and allow me to put more away in savings and investments.
And, pivotally, it would allow me to avoid burnout by not exceeding 40 hours per week. This is important to me to both maintain time with my wife (and cats 🐱), and to build in time for my guitar hobby, which I hope to also turn into a money maker by joining bands that play out.
So when you read that I charge “only” $169 per Website CRO+ review or $149 per hour for custom website conversion reporting in Google Analytics…
Know that I’ve spent a lot of time crafting the perfect intersection in the Venn diagram of:
Making more than enough to cover my family’s needs and build a foundation for the future,
Competing in the marketplace, and
Being attainable for other solopreneurs and micro business owners who, like me, need to carefully consider the impact and ROI of each new cost.
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