It's said everyone has their price. But for entrepreneurs, it's not always easy to know what that price should be. Too high and you won't attract customers. Too low and you can't cover your expenses.
Many entrepreneurs undervalue their products or services. Elizabeth Allen, 31, founder and executive director of Awesome Advertising in Kansas City, Missouri, was shocked to learn that farming herself out as an independent copywriter at a rate of $50 per hour was well below the agency norm of $125. Part of the problem was she didn't know enough about her market; the other was that she didn't have the nerve to charge her clients more. Allen has since learned her lesson, one of many she shares in advising other entrepreneurs at the Kauffman Center for Entrepreneurial Leadership, also in Kansas City.
When Her Parents' Restaurant Burned Down, This First-Generation Founder's Hot Sauce Brand Rose From the Ashes to Take on Corporate Giants
Not Hitting Your Goals? Here's How to Know If You Should Change Tactics or Strategy.
You Can Generate Your Own Viral LinkedIn Post With This Hilarious Tool
This Couple Lost Everything When the Housing Market Crashed. But Manifesting 'Magic' Helped Them Launch a Metaphysical Brand With 10 Stores.
The Best Software Solutions and Tech Providers in the Franchising Industry
This 18-Year-Old Student Wanted a Better Way to Keep Track of His School Work. So He Built an App — and a Business.