Thoughful Thursdays – Stop discounting!
Do you want to be known for providing the highest value or for having the lowest price?
Unless you are the lowest cost provider it is not a recommeded stratgey to be a known as a discounter. The lowest cost provider will always be a threat to your business, as they can drop down to your level and outlast you in any price war.
Some business owners are convinced they will lose sigfnificant business unless they discount prices. This is unfortunate, as this strategy often results in leaving money on the table.
Believe in your products and services, demostrate the value they bring and clearly communicate this to your customer. Avoid being nickled and dimed, as it comes right out of your bottom line.
Have a question about sales? Contact Sakanashi and Associates Inc. and I will be happy to respond.
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