News From LBD

May 2013 Volume 5 Issue 5

Are You Paid What You are Worth?

Five ways to sell value, not price.

1. Be unique. If there is nothing that differentiates you from your competition you become common. Take inventory of your skills, experience, and knowledge. Are you a specialist in some area? Are you an expert in certain facets of your business? These and other differentiators can make you unique and valuable to a select group of clients.

2. Choose your clients carefully. To begin controlling your business, write down the attributes of the people you want as clients and then go out and get them with targeted marketing.

3. Compete on value, not price. No disrespect intended to other business models, but it doesn't take any special skill, experience, or knowledge to compete on price. All you have to do is be the cheapest, but this is a losing game. The way to get paid what you're worth is to visibly demonstrate your value to your clients. Competing on price does not create value.

4. Provide value that no one else offers. When prospects do business with me, they get a complete outline that explains my process from start to finish. It includes objectives, methods of delivery, structure, support features, anticipated results, testimonials

and their investment ($) in the process. When they see the value, fees are generally not a problem.

5. Reject price shoppers. Studies show that only 15-18% of people make their decision to purchase a product or service primarily based on price. This means that the majority of clients appreciate value and are willing to pay for it ... if they see it.

What Leaders are Reading

Reality-Based Leadership

Recent polls show that 71% of workers think about quitting their jobs every day. That number would be shocking ... if people actually were quitting. Worse, they go to work, punching time clocks and collecting pay checks, while completely checked out emotionally. In Reality-Based Leadership, expert Fast Company blogger Cy Wakeman reveals how to be the kind of leader who changes the way people think about and perceive their circumstances ... one who deals with the facts, clarifies roles, gives clear and direct feedback, and insists that everyone do the same ... without drama or defensiveness.

Leadership Tip of The Month

Are you Unique?

To be competitive in today's global and ever changing economy, businesses need to produce a distinctive personal and emotional experience for each of their clients or customers.

In a world of mediocre and indifferent service, we can immediately identify organizations that consistently create a unique and personal experience for every customer, and they do it every time.

True professionals are paid what they are worth by helping clients maximize value, minimize costs, save time, and much more. If potential clients or customers don't appreciate this then feel free to refer them to your competition.

You don't need every prospect and you certainly don't need every buyer to be successful. If all potential clients want is a cheap transaction, send them to a vendor who competes on price and wish them both luck!

Creating a positive and unique customer experience brings them back and allows you to get paid what you are worth.

To learn how, contact LBD.

John Branstad

Quote of the Month

"Quality in a service or product is not what you put into it. It is what the customer gets out of it."
Peter Drucker

John Branstad
www.leadershipbydesign.org
763-213-5267