The Opposite Of “Cheap” Is Not What You Think

In Business & Entrepreneurship
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“If you can’t be the cheapest, be the most expensive.”

A wise marketing guy relayed how his mentor once told him this. 

I’ve always believed this, but he put the idea into words better and more succinctly than I could have. 

The second-cheapest product doesn’t get purchased: there’s a cheaper option next to it. Furthermore, the second-cheapest product is rarely of very much quality. Wouldn’t it cost more if it did? 

Unless you’re Walmart or Amazon, being the cheapest isn’t a sustainable business strategy — at least, not if you’re in business to make money. 

The opposite of cheap, though is not “expensive.” The opposite of cheap is “valuable.” And Value need not be reflected in a super-high price (though it can be). 

The equation for value is simple. 

What I Get (minus) What I Pay = Value

Meaning, when your audience, prospects, and customers see the gap between what they get in your offering and the price of your offering, as a larger gap than that of any possible competition, sales happen, because you’re the best value. 

And, here’s the thing about value: it is created. 

***

After that last situation with a low-funds client who compounded their crime by being slow with the money, I had my new policy in place: full price or nothing. 

Someone emailed me soon after, inquiring about the same type of work. They asked my fee. I told them a number that was FIVE times higher than what I’d received from the previous client. 

They paid, full fee, up front, without asking a single question. 

What had changed? 

In Thursday’s live training, I’ll share what, and I’ll share how you can use it yourself. 

Register for the free training here: http://WorkOnMyGame.com/Live

#WorkOnYourGame

-Dre Baldwin

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