Today’s guest is Vito Peleg from WPFeedback. Vito is a business owner, musician, and developer who got his start building websites when he was 14 years old. Many of the valuable lessons he’s learned came from the years spent with his band. Though he was a musician first, he learned how to run a business while he was on tour.
Show Notes
Part of his hands-on training as a business owner was figuring out how to sell something people didn’t want to buy. In this episode, we dive into the mindset of pricing and how powerful that can be, not just for yourself but for your client as well. We also talk about the importance of understanding your clients and the value you provide to them.
Vito stresses the importance of never assuming that what you’re selling is what your clients ultimately want. He also breaks down how you see your ultimate goal, and how to use that information to price your services and products.
"Pricing is a mindset, right? And if you believe that it’s worth something, go ahead and ask for it." ~ Vito Peleg
In this episode Vito talked about:
- How his past as a musician lead him to where he is today.
- Why a proper mindset effects how much you will charge, how much you can earn, and if you will land clients.
- How to frame your financial goals in a way that makes them easy to break down and accomplish.
Main Takeaways
- What you believe you are worth is what people will pay you. Your mindset will determine if people will pay you what you want to be making.
- Pricing should be contingent on the value you are providing to your client, not just an arbitrary number. Don’t be afraid to raise your rate for a company that values what you’re giving them.
- Setting financial goals is simple if you frame your end goal as a per client cost (e.g. 10 one million dollar clients is $10,000,000. But those clients then need the appropriate amount of your time. More money is more time given to them).
Important Mentions in this Episode
What is Live In The Feast?
Live In The Feast is a seasonal podcast for developers and designers looking to discover their niche to build recurring revenue. So that they can live the life that they want and ultimately reach the goals of why they started their own business in the first place. Each season will be a theme specific to your business. And each episode features a guest who's been there before and achieved success. You'll get actionable takeaways for you to implement in your business immediately after each show. No fluff, no pie in the sky dreaming, this is real-life examples and takeaways for you.