Are you challenging your customers?
Challenging your customers to think bigger/bolder than what they do/expect is the main driver to create greater impact. If you move them from mainly budgeting to creating, the scales shift. You raise the stakes. You raise their rewards. And they way you can price.
A strong start
One of the best ways to start strong the new year is focusing on ONE thing. It’s the hard decision to make on what’s urgent and what’s important. It’s the hard decision to make on which is the one thing that needs your focus, so that your business thrives —or at least, starts to. It’s the hard decision to make on what criteria and judgement will lead all your efforts, policies, actions. Here’s to you on 2025. If your business is at the edge, what is the ONE THING that you can not stop or else…
The difference
What’s the difference between someone charging 300K for a job? And someone else charging 10K for the same job? Same specs. Same client. Same job. Same budget. Same timeframe. (and the client willing and ready to pay 300K without even flinching). Hint: it’s not the portfolio / previous work.
The difference is the risk
The difference between charging 300K and 10K to the same client, project, and scope: the risk. The risk to ask what’s important to them. The risk to make and deliver on a promise. The risk to stop thinking of what you can do, to start thinking of what they [truly] want. The risk to walk away. The risk to push back. The risk to be the expert. The risk to think big for them. The risk of looking dumb. The risk to put your money where your mouth is. The risk of helping. Fortunately for all of us,…
Test and Validation
The most productive way to test something is not by making MVPs. Even before that, what you can do is reaching out to customers and ask them. The usual way to do business is: “I’ll build and they’ll come”. What if you just ask first, see if there’s interest (aka traction), and from there build? You might be able to kill quickly the bad ideas. Or look for better ideas to make it more impactful. Just go and test. 🙂
Kill it early. Kill it soon.
Bad deals. You want them off of your way as soon as possible. That’s why you need to set up criteria for you to work on the project / with the client. And if you choose to go with it, you do it knowing. So that when it’s time (sooner rather than later), you churn. You’re running a business. It’s your responsibility to know and take action into the kind of clients you (want to) work with, while being profitable.
Why so expensive?
“Why so expensive?” When you get that question from a prospect, a few things could have happened. Here are 2: This is the first time they are seeing the price. You’re easily comparable to more things in the market. What do you think are other reasons for them to ask this?
Understanding what they want -> Simpler pricing
Don’t decide for them (your customers) what’s expensive. Let them do the math and thinking. What might be expensive for you might be peanuts for them. The only way to know is by understanding what they want.
Keep it to yourself
When you see something ridiculous in a negotiation with your prospects, keep it to yourself. Not. When you find things that deserve to be dug deeper, keep it to yourself. Not. When you feel that what you do should be priced higher, but it may rise push back, keep it to yourself. Not. When you think your idea might be great, yet someone might steal it, keep it to yourself. Not. You can always speak up. You can always ask. You can. Whenever you think you can or you can’t you’re right.
This is not a fight
Time and You. It’s not a fight. It cant’ be won. Sure, you want to do more stuff. But is it, though? What if you could do LESS, in less time? Time is nothing but a constraint. If it were a resource, you could use it at will, you could store it, you could buy and sell it. So, what to do instead? First, make your peace with it. It is what it is. And it’s ok. Second, grab a piece of paper and jot down EVERYTHING that comes to your mind you would/could/need to do this year. Don’t filter it. Just…