Are Your Decisions Hurting Your Profits?
Your decisions are keeping your customers from paying you more.
Do you as a small-business owner have the confidence to say “I’m better. I’m different and here’s why.” Or do you have a sense of inferiority and uncertainty about your company? You need to develop the poise to ask your customers to make a greater investment with you, and then assure them that their returns will be meaningfully higher than if they go to the competition.
Put your ego behind your greed and focus on profits not activity. Understand the implications of decisions, their impact on people and ultimately their impact on your profits. You’ve got to make sure that your decisions are based on real facts, current information and your bottom line—not emotions or even old data. Remember that pricing is fundamentally a measure of your confidence as a business owner and its the only validation of the value you provide to your market. If you cant price your products high enough to run a legitimate business, you’ve either got to grow your confidence, change your products so you are providing that value, or get out of the business.
Successful companies provide real products and services to real customers for real money. They resolve real problems that create real opportunities. They fully understand and get the best out of their customers, employees and vendors. They face reality instead of making excuses or living in denial.
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