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Are you a little arrogant?

Over the years I have looked at many ways to grow my profits and my clients. Time and again I come back to pricing as the number one strategy.

I was listening to Reed Holden co-author of “Pricing With Confidence” talk about the importance of being a little arrogant. Not arrogant enough to put anyone off but confident enough in your value so you don’t offer discounts. Reed explained that it is important that you and your sales team feel good about your company and products because buyers often try and get lower prices by positioning you as a commodity.

It’s the same in my business. I get enquires where the person is looking for a lower accountancy fee than their current accountant. I am happy to talk because there are always way to work smarter using systems like Xero but I more the conversation quickly to value so the client sees my fee as an investment. It could be in a lower tax bill, time savings or greater security.

With business development services like On Track it will be higher profits, enhanced business value and/or the business being less dependant on them.

Confidence in your value = confidence in your price and that means higher profitability, so the question is “are you really confident in your value proposition when you are compared to a cheaper competitor?”