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Shifting tides.
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You can think big. You have to. In yesterday's examples, this is what happened when fear was overcome. ----------------------------- I'm afraid that if I raise my prices 3X I will receive hard No's and will lose customers. The price raised 4X, and they kept buying. They were underpriced. An inflation adjustment should be fine. Ok... Maybe a 10%. (And then 10% by 10% the profit margins get thinner and the real struggle begins... until the end.) Detaching the price from external factors increased the perception and certainty of If I mark up 23% we should be fine. Don't want to scare them. Don't want to shock them. 70% up seems too much. Made a jump of 85% and they kept buying. If I give a specific number, they will see that we put a lot of effort and thinking to the price raise, so they won't question it. Prices went rounded up, and there were no questions. If the jump is too high right now, I'm afraid I'll lose business to my competitors. The price jumped. And the customers went to the competitors. As the ones from the competitors became new ones at a higher price. ------------------------ We believe the stories we tell ourselves. |
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.
One way that makes the process of articulating what's different about you simpler (not less painful, though) is through your insight. April Dunford defines insight as "the thing we understand about the market that the others do not." It starts with what you see in the market that doesn't make sense, that makes you cringe, that pisses you off. And the way you approach it that's in another direction from what everybody else does. It's your understanding. That's what makes you different.
They're all a by-product. You don't look for them as the main focus, they are the result of what you do in service to your customers.
A common pattern that I see in people who are new in leading positions is they try to maximize the results. What's that even mean? That in order to get the best results, you have to seize the right time. At uni, it might work. In real-life... not so much. Because it's about waiting. Waiting for the right time. Time that might never come (as perfect as expected). In business, the right time is not too early, nor too late. The right time is when you make a decision. A decision that might be...