It fascinated me this week-end, as I supported my children who had decided to have a car boot sale to raise money for their respective dreams. ( one wants a pink fire engine limo for the prom and the other wants his own laptop)
They worked as a team to collect goods from friends and family. The carefully produced a price list (instigated by one of my daughters friends).
As I sat and observed one person in particular was very firm about what things were worth (same person who made them do a price list in fact and would not budge, even though she appreciated the spirit of the car boot is to barter) She insisted, that she was asking the right price and it was worth it.
It got me thinking about a programme I had watched on the overhead TV the week before while on the treadmill at the gym. A competition for 10 years olds to see who was the best stall holders. The team that won stayed strong with their prices and did not drop them until the very last 20 minutes.
Funny enough the power group and I were having a similar chat this week. I realised that my attitude had also changed. When I was first in business I had priced things and allowed people to barter with me.
Funny enough that is how I also did car boots. You see my main objective in the past was to get rid of my stuff and the cash was a bonus. That is a bit like being in business in the early days when you are keen to get you and your product out there. You want people to try it and give you testimonials so you let them have it for nothing or in exchange.
This time at the car boot it was different. The children were going to be doing a car boot every week for 8 weeks, and the person who made them do a price list also kept them strong to their prices. Initially I heard myself saying in my head but surely it is better to get something. But the more I listened the more I realised that was the wrong attitude. ( I noticed that there were professional car booters who made a good living at this, they went from stall to stall buying the “stuff” they specialised in and then took it to there stand and sold it for what it was worth)
I found my attitude changing and saying no stick to the price it is worth it and it could sell the next week.
I suddenly realised that I had made the same change in my business. Once I recognised what I was delivering was worth it, and I was going to be delivering it for sometime. I began to realise that I should not reduce my prices.
Are you valuing what you do? or just keen to get “your stuff out there”
I wonder do you sell your services/products as though it is a one-off car boot, or do you know its worth and stick out for the right price. In recent months I have become much more aware that those that are successful state their price and that is it.
What is happening for you?
What happens next? when you value your service and know 100% it is worth every penny.
As a client I am also aware that I don’t value reduced produce as much. If something is in the Sale and then it had something wrong with it. I would assume that is why it was reduced. Therefore reduced price seems to result in the customer/client expecting reduced results. That can’t be good for business.!!!
Guess what I now have my price list on my wall next to the phone.
Let me know your thoughts
Thank you for Listening