Business Digest August 8, 2025
#BusinessDigestWithDrEIS
On BU$I₦£$$ DIG£$T this morning, August 8, 2025
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WHAT IS YOUR PRICING MECHANISM OR YOUR FEE PAYMENT STRUCTURE?
This is one area Business Owners, Business Managers, and Entrepreneurs struggle to have a strategic plan around.
If this is not properly done, it can make a mess of your cash flow and ultimately the bottom-line of the business.
Follow me carefully;
▪︎Is your fee payment
service-based and paid upfront?
▪︎Is it Outcome-based?
Depending on whichever, some are strictly one of the above and depending on the relationship as well.
For example, training is service-based. You pay me and I come deliver the training. Just like school fees or tuition, you pay before resuming lectures after gaining admission.
Many clients have an understanding of payment for their consultancies.
For some trainings, you are paid a substantial percentage upfront, then paid the balance as soon as training is done or the report is successfully submitted.
Product-based businesses attimes, you have to pay in full first, before the supplier will load and courier what you have fully paid for, hoping no issue along the way.
When therefore, some clients or consultants want to insist or play smart, it is based on previous bad experiences they must have had, but let every relationship define how its payment should be done and agreed upon, not emotionally, but on the strength of value proposition.
For instance, some parents withdraw their children from a school they are owing fees and move to another and the circle continues. What kind of seed are you sowing please?
Do you think choices dont have generational consequences?
Don’t be nice with pricing, just be kind, nice people only sell ice-cream.
Many have messed up their businesses by being too nice instead of just being kind. Ruminate on this.
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Yours-In-Entrepreneurship
*_Dr. Emmanuel Idenyi Shaibu_*
_animn, ace, f.hcd, f.dss, m.frcn, fimc, cmc, cms, FAiPA, DPA, FCCFI, FCALM-UK, CCFIP, CNA_
The Millennium Entrepreneur!
*MakingAMarkGlobally*