A bottom feeder is usually an aquatic animal that feeds on or near the bottom of a body of water.
Are you a bottom feeder?
Now, you may not feel as if this title should be bestowed upon you… You may not even realize that this is the lifestyle that you have embraced! …Hell, you may even be one of “those guys” who endorses this alternate approach to business…
The fact remains though, that bottom feeding is what is stopping each one of you from making a fortune.
Now before the usual naysayers start coming out of the woodwork… Shockingly, I have noticed a few (only a few) that actually understand the power of Quality over Quantity.
I am a firm believer that playing the loss leader in todays economy is the most commonly traveled route to inadequacy, failure and financial ruin.
Am I wrong in suggesting this? Hell no, I stand by that statement.
Simply put, If you haven’t ALREADY got an established business in this market, then I’m afraid that you are wasting your time. It’s never going to happen…No matter what your views are, the fact remains that business is not what it used to be!
But, I’m not here to add insult to injury and spit all over your dreams because, believe it or not – I am here to tell you that, with effort from each one of you, this can change within just one month.
Last week it became all to clear to me WHY the market had made it IMPOSSIBLE for a new business to succeed… It became all too obvious to me WHY people think it is acceptable to drop their prices to rock bottom in an effort to “compete” and smile as they receive only a disgraceful pittance in return… The problem was all too visible: It’s because each and every single one of you MADE IT THAT WAY! Yes indeed, it was each one of you that disheveled the market and drove down your own value to the point where no one is willing to pay you anywhere near what your services are actually worth.
I closed my first consulting deal way back in 2007. Do you think I offered some cheap frill to “get my foot in the door”? Do you think I cold called half the corporate population and begged them for some spare change? Tell me, do you think I spent my entire day fooling around with silly phone “scripts” as if I’m some small time thespian looking to land a lead role in the next Hunger Games installment?… NO – But despite all of this, I approached that negotiation table like an absolute savage and closed the deal WITHOUT cutting into my profits because I know the VALUE that a bring to each and every client I work with.
Yes… you have to be willing to do ‘whatever it takes’, not JUST whatever ‘everyone else’ is doing. Stop trying to be the next Wal-Mart!
Now this brings me to the solution…
Firstly – each and every one of you needs to realize that through your actions, the entire market can be affected… Just one shift at the lowest level can (and will) create massive ramifications for even the largest players in the industry.
It all comes down to your price points.
Get your mind in the game people! – Do you realize that even consumers at the lowest level spend more than $200 on a half decent night out every Friday evening?… Please understand that even the lowliest CEO spends more than $200 JUST to get his car detailed every two weeks… $200? Well damn, that won’t even get you a first class coach ticket across state. – But somehow, you expect me to believe that for the rock bottom prices many of you are offering, I can obtain something that can improve my lifestyle in any way, shape, or form? PLEASE!
I hope you see where I am going with this?
Get your mind in the game!
If you think that your price point is “too-high” then you are on the right track… If you look at the price of your service and you just can’t picture someone paying out that amount, even to a bunch of offshore kidnappers who are holding his kids for ransom – then you are on the right track…
Consumers are not the buffoons that you perceive them to be, because I can tell you now if you can prove, beyond reasonable doubt, that you can somehow improve my life – then why would paying you what you clearly deserve be an issue for me? Now I may not have experience in your field personally, but just think for a moment….how much time have you spent getting to your current position and obtaining the skill set that you currently have.
When a potential client or customer is considering you, the LAST thing on their mind should be price. If price is an issue, you have not adequately demonstrated the value of your product or solutions. If the value is there, the price won’t matter.
The moral of this post: DON’T be afraid to ask for the TRUE VALUE of your services – even if that is too much money for YOU, it is only peanuts for someone else… If each and every one of you raised your prices today, this will affect the market in such a way that our economy will flourish like it once did. Starting a business will cease to be the “Goliath” task that it is today.
Do the right thing
(This was originally a post of an acquaintance by the name of Adrian Browning. I have made a few changes to reflect my own personal thoughts on the subject)