Stop doing this at all costs

I am going to show you the number one way a good business can shoot itself in the foot and then dig its own grave.

Many high-potential businesses do this for almost no reason.

Whether it’s a confidence issue or a desperate clutch for more sales, it doesn’t matter. It just needs to stop.

What I’m talking about is selling on price.

And for the love of all that is holy, if you do this, stop before it’s too late.

Let’s get into this.

Never do this

One of the most common things I see small business owners do is selling on price.

For whatever reason, they try to stand out by charging the lowest prices possible.

No matter how valuable their service is.

Sure, it seems like a great idea when trying to get more people in the door.

But when they do start coming in, you’ll find yourself in another world of hurt.

Why not

Here is the number one reason why you must never sell on price.

Someone will always do it cheaper.

And when someone does do it cheaper, guess what?

You’re out of business.

All the people who came to you for a cheap deal will now go to them.

And because you sold for so cheap, you most likely don’t have any residual income left over.

The only companies that make it work are the Chinese manufacturing plants that sell the cheapest products known to man.

And it’s very unlikely that we have the budget to pull that off.

Here’s what you should be doing instead.

What’s your value

You need to find exactly how much value you produce as a business.

And when you do that, charge as closely to that as possible.

If you offer a service that costs £200, but your client would have happily paid £1,000, why wouldn’t you take them up on that?

It’s almost the same as Brad Pitt going on dates with 3/10s because he’s afraid of being rejected.

As long as you can prove you’re worth the price you charge, you can close any deal you want.

Why do you think people save their money up for a Gucci belt or a Rolex?

Surely those products don’t cost thousands to produce, right?

They don’t. But as long as people are willing to buy, then they will buy.

So, from now on, if you do currently try to be the cheapest in your trade, stop.

If your service really is good, you should charge a fee that reflects on that.

Soon you will have more money left over for marketing, or hiring staff, or whatever you like.

Just make sure that you’re bringing in the money your service deserves.

Nobody wants to be the cheap guy.

What you should strive to be is the guy that everyone wants to hire and for a fair price.

Talk soon,

Tommy