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Is The Price Right?

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Remove the word “price” – Is the value, right?

Think about it very carefully…

If you were having an operation on your brain, or one of your children was having an operation, it is not about the price. It is about the value – the value and the quality. The value and the quality are remembered long after the price has been forgotten. Do not think about the price. As soon as you put yourself into the price mentality, your clients go into the price mentality.

How do you drive the best value?

As a simple example, if you are an electrician and you are putting an electric socket into the bedroom, the people you are putting it in there for do not want the power point, they want to dry their hair. What are you doing? What is the value?

The way the best think about this is, what is your USP – your unique selling proposition? What are you doing that adds more value, that adds more quality to what you are providing for your clients? How was the experience (from the phone call, to the completion of the work, to the invoicing, to the paying) a better experience than anywhere you go? Think about the brain surgeon. When you go into see him, he is not the one who opens the door, or the one that writes on the bit of paper. He is the guy that does the job.

Get out of the price set – think in the value set: How do we best make the value for our client? Let us go back to the unique selling proposition (USP). What do you do that is better, higher quality, that delivers faster or delivers at a higher quality than everybody else in the market? The bottom line is what you must be is the best at what you do. Niche yourself with your USP. Think about how you script, how you answer the phone, how you dress, how you present yourself. Everything you do adds to your value. Think about what you do after the sale. Do you contact the person after the sale? if you are going to have a brain operation you would have follow up visits. Why? Because the value quality of what they do is not just the operation, it is the follow up of everything that happens. Do not get in the price mode, do it for $1 50. The bottom line is no one questions the value of quality -make it so in your business.

Work out the ten things that you can do in your business that make you unique in what you do, that make you better in what you do than anyone in the business. What do you do that makes you unique, makes you better and higher value?

Is the price, right? Whatever you are charging, go for the highest value, the highest quality in your market and be the leader. Do not be in a race to the bottom!