Price is never a valid objection to consider when you’re looking to increase your business.

We all have been tempted to run a sale, have a special or (heaven forbid!) lower our prices so that we undercut our competition. But is it really worth it? My experience over the past 30+ years is that it’s more work, more stress and will cost you more in time, energy AND money in the long run. Who needs that?

Here are my 5 top reasons why you should NEVER compete on price.

Reason #1: Cheap equals cheap. If you focus on dollar amount, so will the people you attract. They’re not looking at what you offer or how you can help them, they just want the cheapest deal possible. If your prices are sub-par, you and what you offer will be perceived as sub-par. It’s human nature.

Clients who are concerned with what they will receive or achieve are more open to paying your fees if they feel they will get the results they are looking for. They are looking for VALUE.

Reason #2: Low fees will attract clients who want someone to do the work for them rather than them making the effort to learn or implement what is needed to achieve their desired results. Dare I say, lazy?

High paying clients understand the importance of effort and the value of implementation.

Reason #3: Competing on price with low fees attracts complainers. It will always be your fault that they are not succeeding, Unfortunately, these type of clients will not take ownership of their outcomes and look for a scapegoat – like you.

High paying clients focus on working towards results rather than complaining. (see a trend here?)

Reason #4: Low They are constantly wanting more for less and they tell you (very loudly) when and how they want it. They expect you to continue to provide your service, even after the contract has been completed AND they somehow think that you’re on speed dial 24/7 just for them.

High paying clients respect your professionalism and time. They’ll stick to your agreed parameters.

Reason #5: If there is no major ‘skin in the game’ (investment), there is no major commitment.  If there’s no commitment, there’s no follow through and if there’s no follow through, there’s no results. And when there’s no results, it reflects badly on you even though it’s not your fault.

Where there is a large investment of time, money, or energy – there’s going to an equal amount of commitment.

The good news in all of this?

It’s just as easy to compete on value as it is on price.

If someone cannot afford your fees but sees the value in working with you, they will either find the funds or ask if you have a payment plan. They won’t quibble or try to bargain. They see the value.

I tell potential clients that I am not the least expensive, nor am I the most expensive consultant. I am priced according to the value I deliver and the results they achieve.

If you’d like to work on how you could charge more than you do right now, then give me a call.

Now Go Get  Connected!

An award-winning Leader, Entrepreneur and Business Development Consultant, Cathy teaches entrepreneurs how to increase their influence; build their business and stay sane while doing it. She helps you to let go of limiting beliefs to “Stand Up, Stand Out & Step Forward” for business success. Named one of the Top Ten Mentors by StartUp Canada, Cathy is recognized across the country for her expertise on “All Things Small Biz”. She is the Founder of The Connected Woman Association, author of numerous books and articles specifically the internationally known “Daily Espressos- Your Read it and Delete it Kickstart to Your Day”, and is a networking maven. (whew!)

For information on upcoming workshops, business coaching or to engage Cathy as a Keynote speaker at your next event, visit www.cathykuzel.com