Jack Mencini and Adam Sonnhalter of Maximum Value Partners www.maximumvp.com discuss the business myth that customers only care about low prices. There is an old adage that you can have it quick, cheap and right…but you can only pick two of the three. Everyone wants all three, but has it always been this way? If your sole advantage for your small business is price, you probably won’t be around for a long time.
People culturally focus on price because it is right there in retail. With small businesses it is more than just price and you, as the leader, need to show the attributes of your products and services. The client wants to know more and as a small business owner, you need to be confident in your presentation skills and a phrase to answer: You are expensive! The small business should answer: Compared to what? This allows you to provide a response that differentiates you, your products and services in the marketplace. If your only difference is price… you might want to close up shop!