Are you undervaluing your intangibles? Not sure? You better listen to this podcast!! Carl Gould your #70secondCEO today and every week day with tips to grow your business.
Read full transcript:
Hi Everyone, Carl Gould here your #70secondCEO, just over a minute of investment per day for a lifetime of results.
If you knew every dollar you’re about to spend was going to stay in your local community, and it would enhance your local community and all your, just think about your local community. Would you be willing to pay 1% more? I bet you, you would be. Most people would, ok, that’s an example. So, his customers love them for something other than just the product they make. They love the fact that the how-made in New Jersey. Why-community is important to us, we’re looking to improve the quality of life of your family. Ok, the how and the why matters. So, if you can raise your pricing 1% and not lose your customers, that means that they value your intangibles higher than you do. So, you can increase your pricing before they take off. As a matter of fact if you keep undervaluing your intangibles they will leave. You know people complain, some people complain, hey Starbucks they charge a lot. Yeah, at all 12,000 locations or so! Right, last time I checked, it’s probably higher now because they keep growing, why? They’re giving their clientele what they want, they’re playing the game 10% smarter. Cup of coffee is a dollar at your local luncheonette that has one location. What if I told you this, we’re going to double your pricing, double it again and we’re going to kill it! Were going to expand based on that. Well, that’s what Starbucks did.
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.