"Money is not a problem." In a negotiation in behalf of a client, I asked my client: The answer? "Here. This is the price —but you can offer it for less." The "less" price? 16K The fear of "losing" the opportunity made them leave money on the table. Despite having the extra approved budget. Of course, now comes the ethical question: "Isn't this ripping your clients off, Rod?" No.
Here's the thing Seeing everything from a perspective of fear of losing will make you ignore the green flags and go to your default: Give it for a lower price. You'll leave money on the table. You won't serve your customers at your best. Because what they want (and you, too) is to be delighted. And you're delightful. |
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"Do it little by little. Incrementally. Otherwise they'll run for the hills." That's great advice on pricing. NOT. Doing this actually brings you to have slow, incremental increases. It'll make it easy for your customers to push back for a discount (which will get you closer to the original low price). And it's all still focused around you. And customers care for themselves. So, shift the focus on to them. Find out what they want, and how you can help them. And price accordingly to what they...
What you don't say with your words, but tolerate or reinforce, is culture. What remains unsaid is equally or more important than what you actually say. To yourself, your team, or your customers. What kind of culture you wanna shape?
Or "sales", if you'd like to put it that way. Not even cashflow is your friend. You can have millions in revenue. Millions in cashflow. And still on the verge of killing the business. You need to focus on your profit and your margins. And this comes from the value you help create to your customers. Because those (profit + margins) are the ones that make your business sustainable. They are the things that fund your mission. Without that fund, you'll run dry or burn out. It's that time when you...