ELITE : SIX Think Tank meetings are discussed over ZOOM with our members every Friday at 9:30am.
Facilitated by DANNY : DE HEK meetings are recorded for our Podcast, we’ve been doing this since COVID-19 if you’re interested in joining in with us check out our Website at dehek.com
EXPERIENCES
- Know when you are deliberately "buying" business. Use selectively
- Expect to be asked for discounts
- Can be a race to the bottom.
- Be prepared to say "No"
- Does it work for my industry?
- Depends on long term vs short term engagement
- Need to know your costs to be able to effectively price
- Pro services based businesses are harder to discounts
- Know your worth … people will try it on at times
- Discounting as a strategy can be used if you have spare capacity to take advantage of; to combat competition; to quit redundant stock - always review discounts to avoid the 'race to the bottom'.
- Need to know your costs to be able to effectively price
PROBLEMS
- Not saying NO
- If you pay peanuts, you get monkeys
- Can sour the relationship
- You can set your bar too low.
- Upsetting existing clients
SOLUTIONS
- Make it an Experience!
- Knowing when to walk away
- Know where you stand out/your value difference
- If you discount below cost you will likely fail
- Know your costs/breakeven - Price accordingly
- Know your worth to the client
- When identifying an hourly based service, Confirm that the rates are current, & consider that rates are valid for a period of time.
- Don't discount "unique"
- Learn to effectively articulate your Unique Selling Point. Get you value worth easily understood and quickly.
- Rather than discounting offer a reduced scope of service. an opportunity to verify & clarify the value of your service.
- Describe what NOT engaging you would look like to the client
TAKES AWAY
- Saying no or negotiating content to reduce price
- Look before you leap
- Consider saying…Thank you but No!…At least you acknowledge appreciation of their offer.
- You have to know when to ask for money
NEXT WEEKS TOPIC
- Defining Customer Expectation
TOP TEN TIMEWASTERS
- Shifting Priorities
- Interruptions
- Telephone
- Messy desk & looking for things
- No clear goals
- Poor delegation
- Inability to say “NO”
- Procrastination
- Poor planning
- Meetings
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