Power disparity
Leads the dynamics in the relationship. If you’re a partner of your clients, then the power weights are roughly equal. You have things at risk when they don’t work. But if you don’t, that’s not a partnership. And that’s ok. Power also means you can say no, walk away, or withhold from engaging in the deal.
A quick reminder
You as the seller have the total freedom to put any price you want. Your customers have the total freedom to choose whether or not to pay that price to work with you. A way to make it a no-brainer for them to pay is by making that price at least 1/10 of what they gain. Of their outcome.
Survival mode on
How to make your business survive: discounts. A culture of discount hits your business deeply. It puts you (and your team, if you have one) at disadvantage when going to the market. It becomes a clutch. And as such, it’s impossible to run freely, and fast, with them. It takes off your power in negotiating for deals. It makes you cut prices off, without any specific pattern. It cuts your margins thin[ner]. It gets you to be overworked —and on the way to burn out. It makes you take ANY kind of…
Thought leadershit
Where do YOUR thoughts LEAD?
The wrong incentives
Charging by the hour creates the wrong incentives. Focusing solely on revenue creates the wrong incentives. Applying discounts without a clear criteria and policy creates the wrong incentives. Serving everyone creates the wrong incentives. Leaving things to wait so that you don’t face the hard decisions now creates the wrong incentives. Trying to make compromises with 2 opposite approaches creates the wrong incentives. Overlooking bad behaviors creates the wrong incentives. And when your…
A new series
Pre-S. Got down on a flu for a few days. No fun at all. But all good. We’re back at it. đŸ™‚ Now, onto our thing. A new series: Marketing misconceptions It’ll be a few dailies on things clients, friends, and lots of people have a sort of an understanding, but easily gets mixed up with other things —or in the ways that things were taught. Having these things better understood will bring you clarity in your decision-making for your business. It will certainly give you an advantage to most of your…
Ep 1. Push and Pull
Push or Pull marketing? None. Because they don’t actually exist. Here’s why. What most seem to forget is the final part of it: Push or Pull marketing strategies. It’s actually a strategy that gets applied to the customer in a context of distribution (aka how you get to more people buying). What does it mean, anyways? It takes the center on the customer. It’s a push ON them or a pull FROM them. Has nothing to do with you. (: Push You push your offering towards your customers. You take…
Ep 2. Selling
Selling. The dirty word. Makes you cringe. A natural reaction. When it’s understood as we’ve been taught: convincing, finding ways to sneak in things that will be (mostly) in your favor, doing whatever it takes even when it feels wrong. You can try a different conception of Selling: “Helping people you like get what they want” Jonathan Stark. Because selling can be seen as not trying to convince anyone of anything. It’s vetting them to see if they’re a fit for you. Vetting them if it makes…
Personal brands
Inexistent. Personal brands —or you being a brand— is not real. First, because you’re a person. Not a thing. Second, because brand is a perception. There are as many brands to a product/service/organization as touchpoints. Third, because it’s artificial. It’s a construct to give consistency to the market. Fourth, because a brand can be rebranded. Changing at times EVERYTHING about it. You’re a person.
Morally incorrect?
During a conversation this past week, I heard that. That raising your prices 5X or 10X, or charging one client different (probably 10X more) from another is not fair. Or that it’s wrong. What are your thoughts on that?