How to Price Your Services

Description
In this video, George Kao describes his method he uses when setting prices for services. This is the method he advises other business to use, and has proved to be effective.

There are four steps to devising a price:

1) Clarify your costs for a particular time period
2) Estimate the number of sales for this period
3) Divide the first number by the second
4) Adjust according to what your competitors are charging.

These steps are further explained in this video. It is a must-watch for those who are trying to find an effective pricing strategy.

Video length: 3:56