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Atricle Dump - Power Pricing - Getting the Right Price for Your Products and Services
I heard this story told about film director Cecil B. DeMille. I have no way of knowing if it's true, but the story beautifully captures the communications stall.Mr. DeMille spared no expense to part the Red Sea for his epic production of The Ten Commandments. Actors, engineers, horses, and assorted other animals were everywhere. The dust, heat, and noise were ferocious. Finally, everyone was ready to go and De
Consider what your clients are used to paying, and charge at least that much. If your clients are used t
The short answer is yes and no. Many people take personality tests such as the Myers-Briggs® to help them in their career searches. Here are some arguments for and against relying on such tests:On the "yes" side, it's a well-known phenomenon in the world of work that birds of a feather flock together. That means certain personality types congregate in higher percentages in some careers more than in others.
Suddenly, lights came on all through the area. Overwhelmed with relief that the problem was solved, they asked how much they owed him. "$20,000," he replied. $20,000? For tapping with a hammer? "Well," he said, "tapping with the hammer is $10. Knowing where to tap is worth $19,990."
There are a couple of lessons to be learned from the joke. First of all, the value is higher when the problem still exists than after it has been solved. After all, if told he could restore the power for $20,000, officials would have written him the check immediately, without question. Afterward, the problem wasn't so urgent--it was solved. Quote your price and get agreement while the customer still feels the urgency (and the pain that you will remove). That's when the value is highest to them. Your agreement can include conditions and guarantees, such as the results you will obtain, and deadlines, if they want assurances about results.
Maintain a little mystery. If they hadn't known that all he did was tap with a hammer, his services would have seemed more valuable. After all, they got the result they valued--the power was restored. Focus on the results, not exactly what methodology will be used. Don't let customers look behind the curtain. (Remember the Wizard of Oz?)
If you are the only one who provides a particular product or service, or you have skills or training no one else does, the value of what you offer goes up. Highlight your exclusive set of training, education and experience. Use unique language to describe what you do. You can also create an aura of exclusivity by screening clients, and only accepting those who meet your criteria. This can work if you have a reputation already, but it can also help build your reputation, if you've got the guts to try it!
Consider what your clients are used to paying, and charge at least that much. If your clients are used to
When an electronics design engineer has completed their circuit design for an application, the next step towards completing the product design is to enter the schematic details into a computer based schematic capture program. The schematic capture program, which is usually part of an Electronic Design Automation, EDA or Computer Automated Design, PCB CAD, software design package, will create a net list from the compl
There are a couple of lessons to be learned from the joke. First of all, the value is higher when the problem still exists than after it has been solved. After all, if told he could restore the power for $20,000, officials would have written him the check immediately, without question. Afterward, the problem wasn't so urgent--it was solved. Quote your price and get agreement while the customer still feels the urgency (and the pain that you will remove). That's when the value is highest to them. Your agreement can include conditions and guarantees, such as the results you will obtain, and deadlines, if they want assurances about results.
Maintain a little mystery. If they hadn't known that all he did was tap with a hammer, his services would have seemed more valuable. After all, they got the result they valued--the power was restored. Focus on the results, not exactly what methodology will be used. Don't let customers look behind the curtain. (Remember the Wizard of Oz?)
If you are the only one who provides a particular product or service, or you have skills or training no one else does, the value of what you offer goes up. Highlight your exclusive set of training, education and experience. Use unique language to describe what you do. You can also create an aura of exclusivity by screening clients, and only accepting those who meet your criteria. This can work if you have a reputation already, but it can also help build your reputation, if you've got the guts to try it!
Consider what your clients are used to paying, and charge at least that much. If your clients are used t
Have you ever seen the movie “Office Space?” If you have worked in any facet of corporate America and haven’t seen it, I encourage you to do so. It is a comedy about a guy who rises up to rail against the hopelessly corporate fictional enterprise, Initech. The cast of characters includes the boss who always wants you to work overtime, the employee with too many bosses, two clueless consultants and one character who j
Maintain a little mystery. If they hadn't known that all he did was tap with a hammer, his services would have seemed more valuable. After all, they got the result they valued--the power was restored. Focus on the results, not exactly what methodology will be used. Don't let customers look behind the curtain. (Remember the Wizard of Oz?)
If you are the only one who provides a particular product or service, or you have skills or training no one else does, the value of what you offer goes up. Highlight your exclusive set of training, education and experience. Use unique language to describe what you do. You can also create an aura of exclusivity by screening clients, and only accepting those who meet your criteria. This can work if you have a reputation already, but it can also help build your reputation, if you've got the guts to try it!
Consider what your clients are used to paying, and charge at least that much. If your clients are used t
One of the most interesting approaches to corporate relocation incentives is the Quality of Working Life (QWL) program, which is a systems approach to job design and a promising development in the broad area of job enrichment. QWL has received tremendous support from a number of sources. Managers have regarded it as a promising means of dealing with stagnating productivity, especially in the United States.Work
If you are the only one who provides a particular product or service, or you have skills or training no one else does, the value of what you offer goes up. Highlight your exclusive set of training, education and experience. Use unique language to describe what you do. You can also create an aura of exclusivity by screening clients, and only accepting those who meet your criteria. This can work if you have a reputation already, but it can also help build your reputation, if you've got the guts to try it!
Consider what your clients are used to paying, and charge at least that much. If your clients are used t
Seeing the looks on employees faces when I visit local businesses tells me what many people already know, a lot of people hate their jobs. Spending 40 or more hours of a week at a place you hate can be very difficult. Regardless of the hatred people have for their jobs they need to realize that it could be worse.If you flip through the employment section of your local newspaper I am sure that there are many jo
Consider what your clients are used to paying, and charge at least that much. If your clients are used to paying $100 an hour, and you come in at $50, you probably won't get the job. On the other hand, if you can show that you are worth $150, you may be able to charge more than the going rate.
Another way to get an hourly rate higher than others is to charge by the project, rather than the hour. For example, maybe you charge $150 instead of $100 an hour, but you get the job done in fewer hours. Get the client to look at total cost, rather than hourly rates. Once again, get them focused on results.
This issue comes up all the time in my publishing classes, where I remind students that they are not selling paper. They are selling the information printed on the paper--information that will improve the lives of the people who use it. Paper is cheap. Useful information isn't.
Keep in mind that the value of your product or service is related to the benefits your customers receive, and how they value those benefits. Present what you sell as solutions to problems, and you can charge premium prices for your excellent products and services.
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