Creating an experience means that work becomes a performance for which you charge an admission fee. What would you have to revise to sell a ticket to engage with your business? The answer to this question can launch your business beyond the first three stages of economic value–commodity, goods and services–to the fourth stage, the experience. The Progression of Economic Value What is the most important thing you can share about pricing? You are what you charge for. If you … [Read more...]
Discover Impact, Meaning and Feeling with Matthew Tol – 098
At times, value pricing can seem complex. However, if you boil it down to the core elements it is listening to the customer, discovering the impact and then creating options. Matthew Tol is passionate about the fundamentals and believes you should expand discovery to include the meaning and feeling to the customer to fully understand the value landscape. Listen to the Customer What is the most important thing you can share about pricing? You are never going to get it right. … [Read more...]
Value Pricing Is A Competitive Advantage with Michael Bradley – 097
As a profession, lawyers may be the most resistant to value pricing due to their conservative nature. However, this is the very reason Michael Bradley from Marque Lawyers considers it a strategic advantage. The outcome for the customer is the first priority. If Marque cannot create value for the customer, they will not engage simply to make money. Changing The Practice of Law What is the most important thing you can share about pricing? Value pricing is more profitable than the … [Read more...]
How the Customer Decides to Buy with Sean D’Souza – 096
In The Brain Audit, Sean D'Souza uses an analogy of 7 bags, or pieces of luggage, to explain the sequence the brain goes through during the buying process. Open the bags one at a time, in the right order, and the customer will buy. Skip a bag or alter the sequence, and the customer cannot finish the steps to make a purchase. Start with the Profile, Problem, and Solution What is the most important thing you can share about pricing? You are charging less than you should be. The … [Read more...]
A Value Conversation for the Solopreneur with Eric Davis – 095
Having a value conversation with the customer is important regardless of the size of your business. However, as a solopreneur, it is essential for survival. You have to determine what type of customer is necessary to operate your business profitably. Then use the value conversation to identify and educate customers that you can serve and with whom you enjoy working. What Is the Customer's Perception of Value? What is the most important thing you can share about pricing? There is more … [Read more...]
Value and Pricing in the Enterprise with Matthew Habuda – 094
After discussing the limitations of hourly rates in a Facebook group, Matthew Habuda decided to give value pricing a chance. He started with a small project and progressed to a Fortune 500 opportunity. Along the way, he had to convince the customer and subcontractors it was the right decision. He shares his results and why he will never bill by the hour again. Top of Show Resources Without the Conversation, There is No Value Pricing, by Ed Kless Kansas Supreme Court Says It’s … [Read more...]
Learning the Art of Frame Control with Oren Klaff – 093
Oren Klaff is an expert at pitching and closing multi-million dollar investment deals. His closing rate is high because he has mastered the art of frame control. Frame control helps Oren capture and keep the investor's interest during a presentation. The same concepts apply when you are having a value conversation. When you encounter resistance from the customer, frame control can help redirect the conversation and stay focused on discovering value from their perspective. We include a live … [Read more...]
Seek the Desired Outcome First with Lincoln Murphy – 092
The tagline for the Art of Value Show is discover value, create options and start pricing. Lincoln Murphy calls value the "desired outcome". In the SaaS world, the desired outcome is not the number of users for your app. The customer does not wake up in the morning and say "How do I get 50 users on this app?" The desired outcome is deeper. You have to venture into the discomfort zone to discover it. Lincoln shares why your success, and the customer's, is dependent on it. Understand the … [Read more...]
The Mental Health of the Entrepreneur with Cory Miller – 091
Mental health is a tabu subject. And that is exactly why Cory Miller is sharing his story. He went through a divorce, and one of the effects was depression. It affected his ability to lead his team and make decisions in his business. Fortunately, he had an attorney who recognized the symptoms and suggested he see a counselor. Now, on the other side personal tragedy, Cory is telling entrepreneurs to pay attention to their mental health. He has done what few people would ever do. He was … [Read more...]
Singing the Praises of Value Pricing with BJ Lee – 090
Making money as a music teacher is tough, especially if you charge by the hour. That is why BJ Lee and his wife Sylvia decided to use a different business model in their vocal coaching practice. They wanted to price their services based on the results their student would achieve rather than the time for the instruction. They took the first step by offering a single customer 3 options. In fact, to hear BJ tell the story, he suggested to Sylvia that she provide options as he was walking out the … [Read more...]
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