It is Friday and I am fired up to crush the weekend and next week. Summer is almost here so if you are waiting for products. Don't!
I wanted to touch on something about discounts.
While we do offers from time to time and bundle promotions.
I am vehemently against discounting our products and our work. I used to do this a while back and realized it really opens Pandora's box.
Here's the thing with discounts. It cheapens what we all do. It puts a black eye on it.
It also dilutes the ability for us to provide for our family.
I personally hate hagglers. People who come from a scarcity mindset are hagglers.
Haggling creates an environment where one person wants what someone else has for less that what the person who is selling it has as a price ticket.
Seems harmless enough but here is the danger. And the unspoken truth behind it. The haggler is saying in less than so many words, I don't believe what you have is worth what you believe, I believe what you have is worth LESS.
This creates an unconscious lack of trust. And for you to make magic with lives you need trust above all.
For me to make amazing design, I need trust.
Now if a parent came in and haggled with you about your price, would you drop it?
Most people who are successful business owners would not.
If you went to a restaurant and asked for a steak and wanted a discount you won't not get it.
You would not get it with the plumber, the supermarket, the mechanic.
Matter of fact I highly doubt your bank who holds your mortgage will take half the payment.
Or your landlord for the rent.
If someone came in asked you for a "favor".
You wouldn't because the "favor" we do for customers is simply helping their lives change.
Making them better.
For you you get them lean and disciplined.
For me I build them better brands that make other people take them more serious.
I develop their credibility and help them generate leads.
THAT IS MY favor. That is yours. The favor is making the magic happen for them.
The cost is simply entrance to the amusement park.
Now sure prices differ, and you could find that steak you were haggling about at the supermarket for a fraction of the price, but you have to go home, spice it and cook it.
OR you could go to a less tasting restaurant and pay a little less but be left longing for a better taste.
Same concept for you.
A student can go somewhere else that is cheaper but that doesn't mean it's going to be good it's just cheaper.
The real problem is this, once you open Pandora's box, and do give a discount, that person or the people that know said person now all want a discount, every time.
You have a skill.
One others do not have.
One others come to seek you out to perform magic with.
You perform that magic.
And you charge them what you believe is fair. And you don't lower that price ever for anyone.
When someone recently asked a coach i know "hey can you give me a discount" his reply was amazing.
"No. I would never do that to you." I would never put YOU in a position where YOU are not fully invested and don't have skin in the game. I would never put US in a position where I can't give you MY ALL. Because if I can't give you my all, then it's pointless for me to even give you a little. And the only way for me to give you my all, is to be fully funded to do so."
This concept goes for anyone in business.
I know a lot of school owners who give discounts, and before you know it half their roster is full of "friends" who want what they have for less, they can't make rent, or payroll and eventually go out of business.
Discounts as a promo offer works because it's the same for everyone. Everyone is equal.
It is why we all wear Kimono's and look like we are having a PJ party in class :)
But personal discounts are the bane of business.
Like someone coming in with a RED Kimono and a tie Dye belt because thats what they wanted.