Value pricing. There's a big misconception with it. It has nothing to do with your value —or how you perceive your own value, or how your customers have to understand what you sell to show them how you justify your prices. Or how much effort you put into it. Or how cool you are. Or how great your work is. None of it. Take yourself out of the picture. Value pricing has to do with what your customer values —what they believe is important. Value pricing takes this factor and prices in alignment with it. What you think you're worth, what effort you put to justify your prices, how you value yourself —while important in a specific setting in your business— has nothing to do with what your customers value. And how do you get to know the value? You don't guess. You ask. :) |
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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...