If you really think you have the answer to the customer's problem, and your answer is uniquely yours, then name your price. BTW, that answer may be a car, motorcycle or a solution.
Often the customer will then try to negotiate you against others who don't have the answer (but who are cheaper). You then have two choices: 1) stay firm or 2) reduce your price to the point where you can't provide the answer.
Name your price, not someone else's.
Barry LaBov
LaBov & Beyond
labov.com
Monday, February 6, 2012
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This is the Barry LaBov insight that I love! Quick, direct, and very thought provoking! As the man at the helm of LaBov & Beyond, I'm sure you have to deal with these kinds of situations all the time, and I give you all the credit in the world for standing your ground with your prices. I really like how you touched on offering the customer the solution they want, but you took it a step further. There is always going to be someone else out there, many times willing to do the same type of thing for cheaper. I love how you sell them on what you, and only you, can do for them. It's a model for success, Barry. Thanks a lot for the insight!
ReplyDeleteChuck, thanks. It sounds easy but it's not. Once in a while you have an edge. Go for it.
ReplyDeleteBarry LaBov