Getting the price right is a difficult task for any product or service. Julia Bickerstaff explains how to get it just right.

How much you charge, particularly if you are selling a service, is a vexing question for many people. There’s a temptation to sell at a discount, so you get the work. But what if you would have got the work anyway — think of all that money you just lost out on.

It’s not uncommon for service businesses to compete on price, but it’s the wrong mindset. We pick it up from the mass-marketing of consumer goods where low prices seems to be rammed in to us as the main reason to buy.

So how much should you charge? In this edition of BTalk Julia Bickerstaff joins us with some sound pricing advice. She says you will never achieve the lifestyle you want by charging low prices. You need to have confidence in your expertise and sell your skills accordingly. Often people find a price hike has no impact on the amount of business. So why not give it a try?

First published on CBS News