DANNY DE HEK nbsp» Entrepreneur Decision Maker Connector Podcaster EducatorELITE : SIX Think Tank meetings are discussed over ZOOM with our members every Friday at 9:30am.

Facilitated by DANNY : DE HEK meetings are recorded for our Podcast, we’ve been doing this since COVID-19 if you’re interested in joining in with us check out our Website.

EXPERIENCES

  • Know when you are deliberately “buying” business. Use selectively
  • Expect to be asked for discounts
  • Can be a race to the bottom.
  • Be prepared to say “No”
  • Does it work for my industry?
  • Depends on long term vs short term engagement
  • Need to know your costs to be able to effectively price
  • Pro services based businesses are harder to discounts
  • Know your worth … people will try it on at times
  • Discounting as a strategy can be used if you have spare capacity to take advantage of; to combat competition; to quit redundant stock – always review discounts to avoid the ‘race to the bottom’.
  • Need to know your costs to be able to effectively price

PROBLEMS

  • Not saying NO
  • If you pay peanuts, you get monkeys
  • Can sour the relationship
  • You can set your bar too low.
  • Upsetting existing clients

SOLUTIONS

  • Make it an Experience!
  • Knowing when to walk away
  • Know where you stand out/your value difference
  • If you discount below cost you will likely fail
  • Know your costs/breakeven – Price accordingly
  • Know your worth to the client
  • When identifying an hourly based service, Confirm that the rates are current, & consider that rates are valid for a period of time.
  • Don’t discount “unique”
  • Learn to effectively articulate your Unique Selling Point. Get you value worth easily understood and quickly.
  • Rather than discounting offer a reduced scope of service. an opportunity to verify & clarify the value of your service.
  • Describe what NOT engaging you would look like to the client

TAKES AWAY

  • Saying no or negotiating content to reduce price
  • Look before you leap
  • Consider saying…Thank you but No!…At least you acknowledge appreciation of their offer.
  • You have to know when to ask for money

NEXT WEEKS TOPIC

  • Defining Customer Expectation

TOP TEN TIMEWASTERS

  1. Shifting Priorities
  2. Interruptions
  3. Telephone
  4. Messy desk & looking for things
  5. No clear goals
  6. Poor delegation
  7. Inability to say “NO”
  8. Procrastination
  9. Poor planning
  10. Meetings

Transcribed by Otter

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