 Now there's a question!
The general rule seems to be No, we should never slag off our competitors. EVER. However bad they are. However tempting it is. It's just not good business etiquette and we may find it will backfire on us. Nobody likes to deal with people who are bitching and moaning. Recently we put a shout out for a recommendation on social media for a particular business. Shortly after we had a PM touting for the business that included warning us off another business. Now this person may have very valid reasons for warning us off, but to be honest, it put us off a little. We let him quote anyway and he continued to slag off the competitor whilst he was here! No prizes for guessing who didn't get my business. BUT... What I find interesting is that if we are talking to a client or a friend who was thinking about using a business we knew was shockingly bad, then of course we would warn them off. But we are not 'allowed' to do the same to a prospect, even if we've become friends, if said business does the same as us. What are your thoughts? #sales #business #leadership #success
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Do you REALLY know how much profit you make per job? Per project? Per widget? Per hour? Per client?
I'm often surprised at the answers I get when I ask prospective clients how they work out their pricing strategy. Often there is no real set process behind it. No KPI's in place. No checking back after the project to see if you actually got the pricing right. There is often some confusion over mark-up/margin & usually, not ALL the right costs have been included. In other words, many are often winging it! I've met more than one company who would price the job & then add "what they thought they could get away with" as their profit. How's that for a pricing strategy. 🙄 The bigger the job and the tighter the margin, the more likely it is that this kind of strategy will put you out of business. A good builder starts a construction biz because he's a good builder. A good widget maker starts a widget biz because he's good at making widgets. That doesn't mean that they are good at the 'business stuff." 2021 will be a difficult year for many businesses which it is why it's so important to get this right. If this is not your thing - get the experts in to help you get it right. Experts like me! 😉 Thoughts? |
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