Budding entrepreneurs and intrapreneurs ask me more questions about pricing than anything else. When do you charge full price? When should you low-ball against a competitor? How do you determine the right price point? How should you position yourself relative to price?
So this week, I’m going to touch on a few of these frequently asked questions… Be sure to stay tuned to my blog to get all of my business acceleration tips and million-dollar advice.
–FAQ #1: When Should You Low-Ball? Let me make this very simple…if you have a tangible differentiator, then NEVER! When I was selling services head-to-head against the Big 6 accounting firms, we were competing to provide expertise in converting corporate information systems to Microsoft Windows. I had four years of Windows engineering expertise, and I was even on the Windows team at Microsoft. My team was equally as strong as the Big 6, if not more so. On the other hand, we were only bringing 6 months of Windows experience to the table. Know what? I never low-balled. There was no need to – we had the expertise advantage.
However, when you’re equal to the competition, but have a perceived disadvantage in the commodity business, then low-balling may be the best choice. When I was competing with a large job shop to hire highly skilled freelance programmers, I did low-ball. The programmers were the decision makers. They didn’t care who paid their paychecks — they just wanted to keep working at Microsoft. So I paid the contractors a piece of my profit (more than the large job shop would) because I had no differentiator. And it worked out great.
Of course, there’s a lot more to be said about pricing strategies, and I go into more detail about each one of these questions, as well as a host of others, at my 7 Figure Business Summit. Worried that you don’t qualify because you’re NOT a 7 Figure Business yet? Well, that’s the point, of course! If YOU are ready to work with me, I still have a few seats left!
THIS event is happening in only FOUR WEEKS. 4/30-5/2. So hurry! Get your seats RIGHT NOW. You can still come for the early-bird price of $997 AND bring a friend for half price. (That’s MY PERSONAL business acceleration recession buster — 7 Figure Business Summit.)
To your amazing and IMMEDIATE 7 Figure Success,
Christine Comaford, 7 Figure Business Builder
CEO of Mighty Ventures, Inc.
NY Times Best Selling Author of Rules for Renegades
PS: IF you cannot attend my Summit for any reason, then by all means, grab my Results Now Webinar and get started – but I think you should ALL be at that Summit and give me a chance to see you and hear the extraordinary life that YOU want to build.
Christine Comaford believes every entrepreneur has at least one multi-million dollar business inside of them. Her 7 Figure Business Formula has created over 153 multi-million dollar businesses. Learn the 6 proven steps to YOUR 7 Figure Business here: http://bit.ly/ComafordWebinar