How to double your fees
If your business was attracting so many customers that you simply couldn’t cope with all the requests, and you realised that in-fact you have some enquiries that you simply don’t want, because they will take too much of your precious time and not give you the justifiable financial rewards as a result… what do you do?
How to become more discerning in business
When businesses start out, they often find that they are simply competing over price… Then the more experienced entrepreneurs realise that if they simply add more bonuses & features, and retain same competitive price, then they will attract more business… BUT there reaches a stage when we all appreciate VALUE over price… and we agree that we would happily pay for VALUE.
Check out my watch…
I purchased this in 1999 as a little gift to myself, and even today, Rado still sell that same model, and at a slightly lower price than I paid 16 years ago…
When I was a successful Financial Adviser based in Edinburgh, my highest earning client would fly up from London especially to meet with me & I spotted this watch on his wrist, and I decided that one day I would own one of those too. So one day, when I was waiting in Geneva airport for a flight transfer on to Toronto, I spotted this and decided to treat myself (I used to fly to Toronto every three months for ONE DAY of business coaching, but that’s another story).
I’ve since replaced the bracelet, and last year I paid another £450 for new insides as I had made the mistake of having the battery replaced in a cheap shop and then still wearing it in the swimming pool.
Still, it’s now 16 years old & still looks amazing!
I often catch people sneaking a glimpse and often commenting on my lovely watch.
So what’s the real cost of such an adornment? and is it a cost or investment ?
Mercedes or Ford?
Many years ago, I read a survey that investigated the purchase price and running costs of a Mercedes versus a Ford as a company car, and then the inherent resale value after three years. I can’t remember the specifics of what models, purchase prices, fuel economy or mileages estimated, but I do remember that the Mercedes came out as the best buy for overall value, as well as added prestige & thus more sales, as customers preferred to work with successful companies & not those that ran the cheapest vehicles.
Here’s me with my last car… my cherished convertible Mercedes, my private number plate, and spot my watch too. 😉
Would You Choose The Cheapest Haircut?
When my youngest son was 16, he started working for a well-known and distinguished hairdressing salon in Edinburgh city centre. They had a lot of employees & were always fully booked. Of course, he had to start at the bottom, cleaning sinks and sweeping floors etc, and he was paid £20 per day for effectively a 12 hour day including his one hour bus journey each direction every day.
He was allocated one day off per week, and on that day, he had to come in to work for “staff training”… as it happened, he was essentially still doing EXACTLY the same work, even on his ‘staff training’ day, which was unpaid, and gave him zero free time.
One day, I called him and he was on the bus heading home (he didn’t live with me, although I was living in the city centre, so it would have been much more convenient for him)., and he said “you’re not going to be very happy with me dad… I’ve just resigned… I replied that I wasn’t in the least bit upset, as he had done more than I would have… and after 14 months of being treated as a slave, he had finally decided that he was worth more. That loyalty and hard-working ethic would stand him in good stead for any future potential employer, and meanwhile I had an idea for him to start his own business, so I suggested that he take a couple of days off to recharge & then come in to see me.
So to cut a long story short, we agreed that I would set him up in his own business, and after our chat, he was heading to get his own hair cut, so I walked with him for the few minutes into town & I asked him how he was going to distinguish himself to attract business…
He replied that his USP (Unique Selling Proposition) was that he was going to be the cheapest… I smiled as I guessed that would be his answer, and it just so happened that we were walking past a little barber shop at the time, with zero customers & the barber staring out of the window wondering what he was doing wrong… he was already the cheapest barber in town & yet bereft of customers.
I pointed this out to my son & I highlighted that he could get a haircut for £5 here, and as I expected, my son guffawed at the suggestion. I asked how much he was about to spend on same, and he replied “probably around £40”.
So my point was learned by him at age 17 – people WILL pay for value!!
I just doubled my fees – check out the inherent value within…
So I was asked this week by a new potential client, what other questions he should be asking his SEO ‘expert’, and I advised that he should “check the SEO service for proof of results and testimonials” and I figured that I should check my own results before giving such advice… so check this out… not only Google First Page Web Domination, but also Video Domination and Image Domination!
How happy would you be if this was the results for YOUR business keywords? Would that make a difference to your enquiries and sales ?