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Revenue is not your friend
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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 need to have that tough conversation (with yourself) and articulate a decision. Because —spoiler alert— no decision is a very clear decision. |
Rod Aparicio
Get one tip, question, or belief-challenge that just might change the way you market, to help your customers buy. A *daily* email for b2b founders on improving your business —without the bullshit.
When you're in a conversation (with stakes for your business), are you listening, or are you waiting to respond? In one you try to understand what the other party means. In the other, it's about what you'll say. Which one do you want to feel when you're the one talking?
Here's a quick exercise you can use to put in the open if your customers are aligned —or if you run a team, if you and your team are aligned. Write every response in 1 minute each. On one post it each. All of the ones who are there at the same time. Each one grabs 3 post-it's Post-it 1. What's the vision of the business? Post-it 2. What's the direction being taken? Post-it 3. What does this look like in reality? If you have a quite similar response, it's a great sign. If there are different...
If your buying ticket is in the thousands, a 50 euro difference won’t make any difference. You might be tempted to use a charm price (finishing in uneven figures [.99; .90; --50]), and it might be devaluing your offering. You haven't seen a McLaren sold for 355 950, have you? Give it a shot and go with round numbers. You might be surprised of what comes off next. And if it doesn't work, you can always go back to the charm.