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Here are a few themes that are recurring in the small/medium business I see.
Which ones do you feel you resonate with?
- You’re struggling with getting your sales to be better.
- The market is highly competitive.
- You’re pushed to play on (the lowest) price.
- You can’t say No to customers. That’s losing business (and stupid).
- If you say No to a customer, you’re losing opportunities.
- Your competition is poaching your customers.
- Your revenue goals are not where you want them, despite everything you’ve tried.
- Raising prices has a big pushback from your customers.
- You can’t charge more than what the market can hold.
- Discounts is the way to win business.
- Your closing rates are approx. 40%
- You apply to biddings, and win less than 30% of times.
- When giving proposals, you need first to “have a feeling of the customer” to know how price-sensitive they are.
- You respond to all the RFQs (Requests For Quote) that go into your inbox.
- You need to figure out how to fix/improve your costs to be profitable.
- Your margins are below 20%.
- If I ask you “How much are your top 20 customers making?” you don’t have a clear, fast answer.
- You charge based on your time, effort, difficulty, materials + a margin.
- Your prices are based on the market.
- You rely on giving samples of your work (for free or for peanuts).
- You need to build strong relationships first, then talk shop.
- You can’t give away how you do things. That’s your secret sauce!
- Prices are given only in your quotes.
- You don’t talk price BEFORE sending a quote/proposal.
- You need to accommodate to your prospects’ budget.
- If they tell you they’re tight on money, you need to concede so that you don’t lose business.
- You trust their promises to grow and expand with you will happen. So you give them a “better” initial price.
- You have to tease the competition with lower prices, so that they lower theirs too.
- The focus of your business is on the revenue created —no matter how.
Lemme know. 🙂
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