When it comes to pricing, many entrepreneurs make the mistake of focusing solely on revenue. Higher revenue doesn’t equate to higher profitability. When constructing your pricing model, it’s imperative to focus on your bottom line. Giving too much weight to your top-line number may even lead you to lose out on money without even realizing it.
Using a bottom-line growth approach, Leslie Bradford-Scott established Walton Wood Farm, a company that offers consciously-crafted and thoughtfully-packaged personal care products. Here are some insights on finding the right pricing strategy for your product or service, based on Leslie’s CEO journey:
Episode Highlights
- [03:36] Leslie Bradford-Scott’s Journey
- [13:39] Revenue vs. Profitability in Business
- [18:29] Factoring in Overhead Costs
- [25:30] Knowing Your Process
- [28:37] Walton Wood Farm During Covid
- [32:57] Being an Entrepreneur Later in Life
Resources:
- Visit our website for more insights on choosing the suitable revenue model and pricing strategy on the Her CEO Journey™ podcast.
- Connect with Christina: Website | LinkedIn
- Visit Walton Wood Farm: Website
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