The Value the Customer Perceives in the Moment Pt. 2

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

 

My youngest is a junior in high school, and she is shopping for colleges. So I'm very interested now in the right college or university for her. And I did the same thing with my last two kids, when they were getting ready for school, all of a sudden, I was very interested and what are colleges. What would be a good school? What would be? What is tuition? How do you do it? As soon as they pick their college, you're going to talk to me all day long about choosing schools. I'm not in the market. It doesn't have any value for me right now. So what's going on in somebody's life for a certain amount of timing? And are they ready, willing, and able, you know, and are they interested in the product itself? And so and then the value is just how much? What need does that fit somebody? So here's what I like to do. And so in the beginning, when you're launching your business, or you're trying to find out your worth, what I would do is I would try to find what is the highest price being charged in that marketplace. And then what I would do is I would offer just promotional prices for now, to see who bites and at what and I'd move those prices up as much as I can. It's not discounting, discounting says I'm worth $200 an hour, I'm just gonna do it for 80. And you just keep working for 18 you know I’m like oh my god, great. Right? This is–I'm worth $200 an hour for a limited time. And for a limited group of people. I'm going to work for 100, then 120, then 150, then 180, and then 200, then 225, then 250 and find where your clientele is willing to pay because it's your clientele, who tells you what they're willing to pay.

 

Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.