We live in a society where we are expected to give information away in order to buy loyalty, but those who discount their prices so that people will look at their product or service do so because they don’t have the faith that their service or product will sell at the current market value.
We need to consider the ramifications of discounting. When people expect something for nothing, or at a discounted price, they become expectant of other free items and often become very demanding of your time. This may be worth the trouble if they actually pulled out their wallets however, this is usually not the case.
Everything is energy and if you do not value your product or service like it is the last piece of everyone’s puzzle, then you will attract buyers who will only pay what your projection of its worth is.
Some people are in a business that has a heavy market presence and this is where niching is essential. If there are twenty cafe’s in your area then you need to find a niche that sets you apart from all of the others. Perhaps you cater to the businesses in your area by ensuring meals come out quick, or by delivering coffees until 10 am. If you do this one thing really well, then you become the go-to cafe for fast service for those whose time is valuable.
|A ship was still on the docks after receiving his load of oil to be delivered to a far away country. The crew was on board and all stocks were re-filled but the mighty sea vessel didn’t budge from the dock because the engines wouldn’t start. The engineers had tried everything but the huge diesel monsters remained in frustrating silence.|
The real problem is that, for every hour over it’s allotted time at the dock costs millions of dollars because it is taking up valuable space from another ship.
In desperation the Captain calls in an expert of these dinosaur diesel engines. The man walked calmly around the machines for a few minutes, surveying each one. Then he stopped at on engine, pulled out a small hammer and tapped it three times. He turns and nods to the engineers to start them. The mighty machines roared to life and the whole crew cheered.
The man then pulls out a ticket book and writes an invoice for $20,000. The Captain is aghast and asks the man to itemise the bill so that the man had to explain himself and this huge number, when he was only aboard the ship for little more than five minutes.
The man put pen to paper again. He wrote:
$50 – Time and service cost
$19,950 – Knowing where to tap
When you are the expert in your field you have no need to buy your customers and, the customers you get will be quality clients who value you and your service.