The economy is bad, I get that.
Loans for small and medium businesses have dried up, I understand that also.
However, this is no reason to be "cheap." I'm not talking about being "responsible," I'm talking being plain old "cheap!"
Who am I talking to? Everyone.
If you are selling a good or a service - stop selling at a price so low that it lessens your brand. If you are buying a good or a service - stop shopping price when you should be focusing on quality.
Cheap is bad - whether you are buying or selling. You really do get what you pay for.
The price you are selling at speaks volumes to the customer buying it. And the price you are willing to pay dictates the level of service you are going to receive.
Yes, times are bad but as a small business owner, if you are going to survive, you are going to have to separate yourself from your competitors and the best way to do that is to claim the quality stance. What does your price say about you and your product? How loyal will a customer be to you if they come to you for a cheap price?
I understand the first response to bad times is to lower your prices, but I encourage you to stop and think about who and what your business is. And after you have done that, find a way to communicate to customers why your goods or services are worth the price you charge, build a relationship with your customers, promote loyalty, raise their perception of you that of a source and less a simple provider of goods and service. Position your business for the good times, when customers can afford to go anywhere but choose to show with you. Own the quality story, make it yours.
Now, for a little family business. To the advertising/design industry people that are on this forum, "STOP IT! STOP GIVING AWAY YOUR SERVICES!" You are only hurting yourself and your clients. Divide your current prices by the amount of time it takes you to deliver a project, and tell me if that is really what your skills and experience are really worth? I am not ashamed of my price. It comes with over 20 years of experience and knowledge in helping clients grow their business, and I am worth every penny I charge.
I know that this is big talk but I have recently lost two projects because the budgets were too small. I could have used the business but I couldn't afford to lose money in the process. And more importantly, I could not afford to cheapen my brand.
Ask yourself, "Are you cheapening your way out of business?"
Loans for small and medium businesses have dried up, I understand that also.
However, this is no reason to be "cheap." I'm not talking about being "responsible," I'm talking being plain old "cheap!"
Who am I talking to? Everyone.
If you are selling a good or a service - stop selling at a price so low that it lessens your brand. If you are buying a good or a service - stop shopping price when you should be focusing on quality.
Cheap is bad - whether you are buying or selling. You really do get what you pay for.
The price you are selling at speaks volumes to the customer buying it. And the price you are willing to pay dictates the level of service you are going to receive.
Yes, times are bad but as a small business owner, if you are going to survive, you are going to have to separate yourself from your competitors and the best way to do that is to claim the quality stance. What does your price say about you and your product? How loyal will a customer be to you if they come to you for a cheap price?
I understand the first response to bad times is to lower your prices, but I encourage you to stop and think about who and what your business is. And after you have done that, find a way to communicate to customers why your goods or services are worth the price you charge, build a relationship with your customers, promote loyalty, raise their perception of you that of a source and less a simple provider of goods and service. Position your business for the good times, when customers can afford to go anywhere but choose to show with you. Own the quality story, make it yours.
Now, for a little family business. To the advertising/design industry people that are on this forum, "STOP IT! STOP GIVING AWAY YOUR SERVICES!" You are only hurting yourself and your clients. Divide your current prices by the amount of time it takes you to deliver a project, and tell me if that is really what your skills and experience are really worth? I am not ashamed of my price. It comes with over 20 years of experience and knowledge in helping clients grow their business, and I am worth every penny I charge.
I know that this is big talk but I have recently lost two projects because the budgets were too small. I could have used the business but I couldn't afford to lose money in the process. And more importantly, I could not afford to cheapen my brand.
Ask yourself, "Are you cheapening your way out of business?"
