Not all will follow. And that’s ok.
That’s Blair Enns’ proclamation in his manifesto. That not everyone will do business with you. And that’s ok. Same applies to your current customers. When shifting your pricing and pricing policies, current customers won’t like it. They’ll fight you over small things —that are totally fine if it comes from somebody else (at even higher prices). 🤷♂️ And that’s ok. It’s a sign to start looking into the future and find better fits for your business. It’s your decision to keep them in your…
Pricing is just math.
Just because it has numbers in it, it doesn’t mean it’s just math. When we follow that logic, sure, setting a price is just math. So would be diabetes. Or malnourishment. Or poverty. They all require a shift in the measurements. Yet most importantly, a shift in thinking.
“We need to give them a win”
“We just raise up the price 30% and then go and give them (the customer) a 30% off. That way they’ll go to their boss saying they got a deal. And they’ll buy” Their closing rate: 40% Reality? A product in the market that’s underpriced —and living in a discount culture. Money left on the table? A couple million euros per year. Here’s the thing: Inflating your prices to give a discount means a couple of things: You’re not talking to the ones who call the shots. You’re getting ready to take more…
“Power (and context) abhors a vacuum.”
When there’s a void in power, something or someone will step in and take over. It’s the same with context. If you don’t set the context about your offering, your price, or your position, your prospect will do it for you. If not your competitors. Frame the context. Lead the conversation. You’ll have more power. And you’ll better-serve.
It’s too expensive
Charles – “If I spend too little time to fix some error / bug, I can’t charge 2000 euros. It’s too expensive.” Joe – So would you rather spend MORE time to appear “busy” (and lie to your customer) than having them working again as fast as they can? Charles – … 😶 There’s this misconception that more effort = better results. That more time = better work. That more = better. And if you don’t comply with those conditions, you can’t charge “big” money. That it’s not fair. Be open to this idea:…
Market prices
What would push you to know what the prices in the market are? And once you find out, what’s next?
Making up stories
A discussion with Dr. Genevieve Hayes —data science expert and long-time friend-of-the-list— about context inspired this daily. We (humans) LOVE making up stories. When we don’t have a reference point, our imagination flies. Give that reference point to your customers. So that you lead where their imagination can go wild. 🙂
The elephant
There are situations that can be VERY stressful —within your business, with your prospects, with your clients. Kicking them down the road to not deal with them feels tempting, and you might even feel like they’re avoidable. They’re not. Sometimes they’re an elephant stomping and charging your way. Because you put your hands in front of your face won’t make them disappear —and certainly won’t stop them. Make the decision. Take the decision. You already know what to do. And it’s a simple…
The Night Guy
Once again, Genevieve Hayes came up with a follow up to yesterday’s message: The Elephant. “I think Jerry Seinfeld expressed this one best:” This is what got me to stop passing my problems forward and making them the problems of “future me”. Mic drop, Genevieve.
The benefit of the doubt
Give your prospects and customers the benefit of the doubt. This doesn’t mean though, that you don’t call them out. It means that you take that without intention. And you be the adult in the room and ask: “Hey, it seems like [… what you think …]. Can we talk this over?” And you’ll go in with clarity. 🙂
