Be interesting.
One of my mentors once explained how small businesses create their pricing like this:
- Business A are experts at performing their service but have no clue how to run a business. They start by charging what they themselves would pay for the service which depends more on their own financial circumstance than what clients may be willing to pay.
- Business B comes into the market and immediately charges 10% less. Competing on price makes them immediately competitive but may not let them turn a profit.
- Business C and D come into the market and charge even less. They are competing on price and just want clients.
- Business E comes into the market, does their research, offers a unique twist on what A, B, C & D are doing. They ask good questions and listen to the answers. They find the value and charge appropriately. They are … the most interesting business in the world. (And yes, the most successful in our example.)
When you compete with everyone else on price, you lose. You didn’t open your business to lose. Be interesting, give customers what they need, make money and win.
Whose strategy?
Who am I? I am Matt. I’m wholly obsessed with running businesses, marketing, SEO, social media, blogging, websites, writing and much, much more! I’ve lived on 3 continents, owned 5 successful businesses, graduated law school and ran a half marathon. I read 1000 words per minute and type 120. My non-work life revolves around my wife and best friend and my 101 in 1001 list.
Why read my Strategic Works? You want to read something a little different than “5 reasons Facebook’s New Layout Sucks. Again” or “Matt Cutts Said Blahblahblah.” If I have nothing to teach you, leave. If you’re offended by blunt business theory, leave. I’m going to tell stories and argue things that don’t always agree with the conventional wisdom. I’m going to write a lot of words and you’re going to learn a lot of things to improve your business.
Mosquitos don’t really have teeth. They do, however, have 47 cutting stylets akin to animal incisors. Fact.
Be interesting.
