My first Publication The Creative Space November 2019 - Page 6

Topic “Do not compromise on the quality and your customers will not negotiate on the price.” - Amit Kalantri is the author of three books “I Love You Too”, “5 Feet 5 Inch Run Machine - Sachin Tendulkar” and “One Bucket of Tears” 2. They want people to come into their "Brick and Mortar", so it's really a marketing strategy. But what about the client who is coming from far away and doesn't have a credit/debit card, (or anyone for that matter) shouldn't they have an idea of how much a product/service will cost? However, all is not lost. Recently, I hosted a workshop on pricing as part of our "Building Your Entrepreneurial Framework Series." In it, we discussed some of the emotional issues around pricing. These include:  Not wanting to lose the sale;  Not wanting to lose the customer;  Being perceived as “too expensive”;  Not sure of your “Value Proposition”-a.k.a., your ‘secret sauce’ Without giving too much away (this workshop will be run again in early 2020), these concerns can be easily addressed as: 1. Not wanting to lose the sale - There will be other sales; You’ll never run out of opportunities. As long as you keep improving your product, they’ll always be new customers to engage and enchant; 2. Not wanting to lose the customer- Is this “really” your “ideal customer”? This problem only exists if you're trying to sell to everyone. The real trick in this game is to find out who YOUR customers are and to serve them faithfully. Then price becomes immaterial since they will pay you regardless to what the market will bear. 3. Being perceived as “too expensive”. This is a double-edged sword; as compared to what/who? Again, this speaks to your position in the market. Not everyone will be a market leader. Some will serve a niche market and achieve success “Staying in their Lane”. If that is you, then pricing for the masses and not the classes means that you'll always have the sale.