YBC Academy : Do You Trade On Price Or Value?
The Value Proposition
Do you trade on price or on Value?
I have often been described as the consummate networker. Over the years I have connected with hundreds, no thousands of business owners and I find that a very large percentage of them share a common flaw: They do not understand the difference between trading on price and trading on value.
I want to explain the difference and explain how I charged over £11,000 to produce 5 x 3-page documents resulting in my client warmly thanking me and shaking my hand, exclaiming that he could not thank me enough.
When you trade on price you make yourself a commodity and if you are always trading on price, there will always be somebody who is prepared to do it cheaper. There comes a point where the price becomes so cheap you might as well cease trading. There are very few businesses that are successful trading on price (I suppose the £1 Shop is the exception).