In this episode I help you bridge the internal gap that many entrepreneurs and small business owners face when marketing and setting their prices. A must see episode!
Jim – I always enjoy your content. THANK YOU for sharing!
You are not your customer hit the nail right on the head with my company, Gellite Candles. While my example was not so much with pricing, it is more in the product mix. We manufacture a line of quality gel candles that we sell wholesale throughout the country and through our website. We have a number of fragrances that are not our favorites, but as one of my customers said “the customers just gobble them up.” If it were based on us, we would rarely recommend these scents, but you can’t argue with the numbers. We have now modified our suggested pre-packs and have seen an increase in repeat orders.
Here’s a story I love to tell.
In a former life I was a headhunter. It took me about 15 years to build the credibility I needed to charge what I was worth (yet still less than a lot of my male colleagues – go figure). I once earned almost $34,000 for 10 hours of work because my client wanted a contingency deal instead of my usual hourly rate.
After that I became a pastry chef, and my best selling product sold for 9 times what it cost to produce.
In both examples I just assumed that people would do business with me – and they did.
Fast forward to today and I’m really struggling to find the clients who are ready and eager to pay for value, not time.
I hate selling and have never been good at it. What I do is educate, give value first and ask for the order. There’s still a disconnect somewhere (maybe targeting the wrong customers).
Whenever I’m doing a presentation I try to remember the good old days where I had all the confidence in the world and assumed a “yes”.
Ouch! It’s hard to tell on myself. Up till now, I have been guilty pre-judging people and haven’t implemented some of the strategies that would make a difference in my business. Personally, I much prefer to read copy than to watch a video. Note to self: I am not my customer, just get started. Just so you know, I actually watched your videos and found them informative, interesting and easy to watch. It makes the whole idea less intimidating. The first step is to recognize that we all have “blind spots” based on our personal feelings
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