Katlego Sekhu
In any sector, when you become self-employed or an entrepreneur, setting a price for your goods and services can be tricky. You need to find a balance that reflects your worth while remaining competitive enough to keep the work flowing.
Setting your price too high may boost profits but could make you less competitive, while pricing too low might attract more clients but leave you stretched thin trying to meet demand.
“Where do you stand on this debate?” Drive 959 asked its listeners.
Glen Lewis shared his perspective:
“What I have learned is that for whatever it is that you want to do, there is always a market. I always use clothing brands as an example. Certain retailers are cheaper, while others charge exorbitant amounts. The same applies to car dealerships. Expensive as they are, there is always a market.”
Skhumba added, “Find a way to specialise, and people will make it known.”
Kgomotso noted that this has become harder, especially post-Covid, as many people lost money and the market shrunk. However, she believes that charging slightly higher can help you break even with fewer clients.
For the full discussion, listen to the podcast.
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