Why? Because apparently I am a “Professional” and that entitles me to the “Professional Rate.”
And what does that get me?
You’re not going to believe this … the normal cover price of Smart Money Magazine is $319.00 when it’s bundled with 52 Weekly issues of Barron’s (another magazine to help me manage my money). BUT because I am a “Professional” I can get them both for only $11.00!
That’s a savings of over $308.00!!!!!
How in the world could I pass this up … after all I am … a “Professional”!
So that got me thinking ….
What if I followed their advice? What if I discounted the cost of my services by 96.5% … think of how much business I could have?
Yes that’s true, I would be slammed with work … but I wouldn’t be making any money.
Hmmmmmm … I’m not sure if that’s such a smart idea?
Well, then maybe I should over inflate the price of my services and charge 96.5% more than I normally do, and then discount the hell out of the price so that people think they’re getting a real deal?
Hmmmmm … that might work … but are people really not that smart with their money?
Besides wouldn’t people see through that deception?
3 Lessons To Learn:
- Don’t devalue your services. If you believe your services have value, help your customers see the value and how it will help them solve a problem or reduce their pain.
- Don’t try to lure customers by cutting your price, especially by 96.5%. It sends the message that your product is obscenely overpriced or that your customer is ignorant. No matter which way you look at it … you loose.
- Don’t lie to your customers … if the true value of your product is $11.00 charge them $11.00. If you don’t make any money at that price level then either change your price or improve your product so that you can sell it at a level where you can make a profit.
And remember …
The next time somebody wants to offer you the sun, the moon, and the stars for the price of a cheap telescope …
Look somewhere else to invest your money!