Price versus Value
The two most prevalent downfalls of small to medium business today is the openness to change and the tunnel vision towards price. It’s ironic how much the market is changing, not to mention our world, but many businesses use the same and outdated practices….
‘Most’ businesses want to see some degree of growth and profitability within their walls, but most decision makers only focus on price! A lot of decision makers fail to see the value of investing for the long run! So this is the common cycle, a potentially great idea pops up, but it’s too expensive so I don’t want to change……. Does this sound like you or someone you know?
“Price is what you pay, value is what you get” quoted by Warren Buffet (If you don’t know who he is, google him!). Decision makers need to understand that price is fixed, but value has the potential for exponential growth, their just not willing to embrace a new opportunity because of one of two reasons:
1. They expect the moon without doing any work.
2. They’re unaware of a particular concept so they’re hesitant to learn and change.
This is not say that everything has great value or possibilities for exponential growth, but value is merely a reflection of work, expertise and willing to help that is received by your customers. Keep in mind, price yourself within an allocated budget that your business can afford.
So moral of the story, next time a new opportunity arises, think beyond price, actually put some time into how it can possibly improve a component of your business. All of a sudden, the return, with some effort and work will exceed the price your paying.