ELITE : SIX Think Tank meetings are discussed over Zoom with our members every Friday at 9:30am.

Facilitated by DANNY : DE HEK meetings are recorded for our Podcast, we’ve been doing this since COVID-19 if you’re interested in joining in with us check out our Website at www.elite6.co.nz

EXPERIENCES

• Know when you are deliberately "buying" business. Use selectively
• Expect to be asked for discounts
• Can be a race to the bottom.
• Be prepared to say "No"
• Does it work for my industry?
• Depends on long term vs short term engagement
• Need to know your costs to be able to effectively price
• Pro services based businesses are harder to discounts
• Know your worth … people will try it on at times
• Discounting as a strategy can be used if you have spare capacity to take advantage of; to combat competition; to quit redundant stock - always review discounts to avoid the 'race to the bottom'.
• Need to know your costs to be able to effectively price

PROBLEMS

• Not saying NO
• If you pay peanuts, you get monkeys
• Can sour the relationship
• You can set your bar too low.
• Upsetting existing clients

SOLUTIONS

• Make it an Experience!
• Knowing when to walk away
• Know where you stand out/your value difference
• If you discount below cost you will likely fail
• Know your costs/breakeven - Price accordingly
• Know your worth to the client
• When identifying an hourly based service, Confirm that the rates are current, & consider that rates are valid for a period of time.
• Don't discount "unique"
• Learn to effectively articulate your Unique Selling Point. Get you value worth easily understood and quickly.
• Rather than discounting offer a reduced scope of service. an opportunity to verify & clarify the value of your service.
• Describe what NOT engaging you would look like to the client

TAKES AWAY

• Saying no or negotiating content to reduce price
• Look before you leap
• Consider saying…Thank you but No!…At least you acknowledge appreciation of their offer.
• You have to know when to ask for money

NEXT WEEKS TOPIC

• Defining Customer Expectation

TOP TEN TIMEWASTERS

1. Shifting Priorities
2. Interruptions
3. Telephone
4. Messy desk & looking for things
5. No clear goals
6. Poor delegation
7. Inability to say “NO”
8. Procrastination
9. Poor planning
10. Meetings