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  • Atricle Dump - Home Builders and Remodelers - How to Stop Losing Business to Lower-Priced Competition

    Button Making Ideas for Non-Profits
    As a non-profit organization, your number one goal is fundraising and marketing your organization. The trick to successful fundraising, however, is finding ways to market the event without spending a fortune. An amazing way to market your fundraiser without raising your costs too high is through buttons! Now, purchasing personalized buttons is not that cheap, but if you buy your own button maker you can make marketing tools for next to nothing!A quality button maker costs less than $300. That means that you can afford one even on the tightest budget. You can use the button maker to increase recognition of your organization, draw visitors to fundraisers, and promote special awareness campaigns!One way to use
    nd, again, who doesn't say that) -- tell them what matters...the results. For example:

    . we build our rooms perfectly square (feature) so your furniture doesn't look wonky, or your built-in pieces will actually fit properly without additional, and expensive, work (benefit)

    . we prime both sides of natural siding (feature) so it lasts longer (benefit) than builders that don't (extra points: mention how much longer)

    . we allow wood flooring to acclimatize before installation (feature), to eliminate gaps, splitting and checking (benefit)...other builders / renovators that don't do this risk your floor being unsightly and uneven withing 6 to 12 months!

    Your Advantage? Effectively Eliminate a Large Portion of Your Competition!

    As mentioned above...if you list a number of areas where you add quality and value to your prospects, and you do it by focusing on the end-result -- the benefits, not the features, you'll rocket above yo

    Think Before You Talk
    What you say to other people can make or break you and it can happen without you even knowing about it. That old saying “loose lips sink ships” is oh so true in business. If you like to gossip as most people do, learn to listen rather than participate. Oh, you’re saying to yourself that yes maybe you do talk about the job or your co workers, but never to anyone who’s involved outside your work.That’s the kind of thinking that enabled my friend Susan to land that $50.00 an hour teaching contract with one of the local businesses. You see, I happen to be at lunch with a person who was casually talking about her job. After all, I had nothing to do with her company. I was just a computer consultant that was going to sen
    Now and again I'll get into a conversation about 'educating the client', especially when a contractor talks about losing jobs to competition that's 'undercutting' them. One such conversation happened last week when a builder mentioned constantly losing jobs to, shall we say, less than reputable competition.

    Typically in this situation I'll talk about educating the prospect, to which the response is usually, "I don't have time to teach the prospect everything I know." (This is usually closely followed by, "Plus, I already educate my prospects.")

    First, I agree. Second, you don't have to. Third, you can't afford not to.

    Educating Your Prospects

    When I discuss educating prospects, I'm not suggesting you have to provide years of knowledge, personal experience, and recent modern changes in the home building industry. First, you don't have that kind of time. Second, chances are the average home owner just doesn't care.

    What I do mean is to educate the prospect so:

    a) they understand what your price represents; and

    b) they know what to look for, and look out for, so they can properly compare your quality of work to others.

    A Recent Example

    A friend recently bought a house and, as par for the course, was contacted by a handful of companies promising to deliver natural gas at lower, locked-in rates.

    Now, I can't claim to verify the following information, it's just what he received when he asked his group of friends for advice. And it does illustrate the point.

    According to one response, the rate quoted by some of these companies is lower because it doesn't include all the costs associated with delivering natural gas to his house.

    That is, the rate they were quoting was the 'supply' charge. They would then compared this rate to their competition's rate, even though the rate they compared it to combined three different charges and, therefore, was always going to be more then theirs.

    This would be like selling you a computer, and saying mine was $750 while comparing it against a competitor's $950 model -- but failing to mention the competitor's included a monitor and the other didn't. Not fair, right?

    So, How Do You Use This Information to Stop Fighting on Price?

    This is what I mean by 'educating the client'. Let them know what they're getting with your price vs. a potential competitors and help ensure they can, and are, comparing apples to apples.

    Do you have to list all 1,001 differences that go into building or renovating a home? Of course not...in fact, if you capture the 10 - 15 biggies (and, sometimes, even less than that), most clients will assume the rest is taken care of (and it usually is).

    And This is Where Selling on Features vs. Selling on Benefits Comes In...

    Features vs. Benefits is one of the easiest ways to separate you from your competition and stop fighting on price. Unfortunately, most builders and renovators sell on features and, therefore, end up in 'price comparison hell.' Selling on benefits quickly eliminates competition from consideration, especially 'unprofessionals' (since they make it so easy for us to eliminate them, if everything is positioned properly).

    Remember above, when I said chances are home owners don't care? What they (and 99% of all humans purchasing something) don't care about is the process. What they do care about is the results.

    Do you care how a phone works...or do you care if your business phone went dead for even one hour? Do you care how HTTP Internet protocol works...or do you care if your website went down for even one day?

    See...it's not the process most people care about (although some may be curious about it after the fact) -- it's the result!

    So, don't tell your prospects you use "the finest quality building materials" (and who isn't going to say that to get the business) or "the best workers" (and, again, who doesn't say that) -- tell them what matters...the results. For example:

    . we build our rooms perfectly square (feature) so your furniture doesn't look wonky, or your built-in pieces will actually fit properly without additional, and expensive, work (benefit)

    . we prime both sides of natural siding (feature) so it lasts longer (benefit) than builders that don't (extra points: mention how much longer)

    . we allow wood flooring to acclimatize before installation (feature), to eliminate gaps, splitting and checking (benefit)...other builders / renovators that don't do this risk your floor being unsightly and uneven withing 6 to 12 months!

    Your Advantage? Effectively Eliminate a Large Portion of Your Competition!

    As mentioned above...if you list a number of areas where you add quality and value to your prospects, and you do it by focusing on the end-result -- the benefits, not the features, you'll rocket above you

    Solve Your Clients' Problems and Grow Rich! How to Exploit Your New-found Market Knowledge
    If you've been reading my previous articles, you already know your niche and target market. You know how to reach them, and how to research what they need. Now, following your research, you know what problems they have. So, what's next - how exactly do you exploit your new-found market knowledge?The answer to that is that you create solutions to your clients' problems. But how do go about doing that? Read on to find out.Creating SolutionsAs you've undertaken your market research, you'll know the biggest problems faced by your target market. Take those problems and examine them - which ones come up over and over again?As you read the list of problems, the resolutions to some problems wi
    prospect so:

    a) they understand what your price represents; and

    b) they know what to look for, and look out for, so they can properly compare your quality of work to others.

    A Recent Example

    A friend recently bought a house and, as par for the course, was contacted by a handful of companies promising to deliver natural gas at lower, locked-in rates.

    Now, I can't claim to verify the following information, it's just what he received when he asked his group of friends for advice. And it does illustrate the point.

    According to one response, the rate quoted by some of these companies is lower because it doesn't include all the costs associated with delivering natural gas to his house.

    That is, the rate they were quoting was the 'supply' charge. They would then compared this rate to their competition's rate, even though the rate they compared it to combined three different charges and, therefore, was always going to be more then theirs.

    This would be like selling you a computer, and saying mine was $750 while comparing it against a competitor's $950 model -- but failing to mention the competitor's included a monitor and the other didn't. Not fair, right?

    So, How Do You Use This Information to Stop Fighting on Price?

    This is what I mean by 'educating the client'. Let them know what they're getting with your price vs. a potential competitors and help ensure they can, and are, comparing apples to apples.

    Do you have to list all 1,001 differences that go into building or renovating a home? Of course not...in fact, if you capture the 10 - 15 biggies (and, sometimes, even less than that), most clients will assume the rest is taken care of (and it usually is).

    And This is Where Selling on Features vs. Selling on Benefits Comes In...

    Features vs. Benefits is one of the easiest ways to separate you from your competition and stop fighting on price. Unfortunately, most builders and renovators sell on features and, therefore, end up in 'price comparison hell.' Selling on benefits quickly eliminates competition from consideration, especially 'unprofessionals' (since they make it so easy for us to eliminate them, if everything is positioned properly).

    Remember above, when I said chances are home owners don't care? What they (and 99% of all humans purchasing something) don't care about is the process. What they do care about is the results.

    Do you care how a phone works...or do you care if your business phone went dead for even one hour? Do you care how HTTP Internet protocol works...or do you care if your website went down for even one day?

    See...it's not the process most people care about (although some may be curious about it after the fact) -- it's the result!

    So, don't tell your prospects you use "the finest quality building materials" (and who isn't going to say that to get the business) or "the best workers" (and, again, who doesn't say that) -- tell them what matters...the results. For example:

    . we build our rooms perfectly square (feature) so your furniture doesn't look wonky, or your built-in pieces will actually fit properly without additional, and expensive, work (benefit)

    . we prime both sides of natural siding (feature) so it lasts longer (benefit) than builders that don't (extra points: mention how much longer)

    . we allow wood flooring to acclimatize before installation (feature), to eliminate gaps, splitting and checking (benefit)...other builders / renovators that don't do this risk your floor being unsightly and uneven withing 6 to 12 months!

    Your Advantage? Effectively Eliminate a Large Portion of Your Competition!

    As mentioned above...if you list a number of areas where you add quality and value to your prospects, and you do it by focusing on the end-result -- the benefits, not the features, you'll rocket above yo

    Travel Agents-An Endangered Species?
    There is a paradox in the travel industry.Traditional travel agencies and their agents are fast disappearing from the landscape.Ironically, this is occurring in the midst of tremendous growth in the largest industry in the world, travel.It is estimated that the impending retirement of the 1 Billion Baby Boomers worldwide, will explode the volume of business in the industry from $7 Trillion to $14 Trillion over the next 10 years. The oil industry, in comparison, is only $4 Trillion per year.The problem for the travel industry is that their erstwhile customers now want to see a video of the resort they are interested in, or will be able to check satellite photos and see that the “Plaza del Mar”; alleg
    s.

    This would be like selling you a computer, and saying mine was $750 while comparing it against a competitor's $950 model -- but failing to mention the competitor's included a monitor and the other didn't. Not fair, right?

    So, How Do You Use This Information to Stop Fighting on Price?

    This is what I mean by 'educating the client'. Let them know what they're getting with your price vs. a potential competitors and help ensure they can, and are, comparing apples to apples.

    Do you have to list all 1,001 differences that go into building or renovating a home? Of course not...in fact, if you capture the 10 - 15 biggies (and, sometimes, even less than that), most clients will assume the rest is taken care of (and it usually is).

    And This is Where Selling on Features vs. Selling on Benefits Comes In...

    Features vs. Benefits is one of the easiest ways to separate you from your competition and stop fighting on price. Unfortunately, most builders and renovators sell on features and, therefore, end up in 'price comparison hell.' Selling on benefits quickly eliminates competition from consideration, especially 'unprofessionals' (since they make it so easy for us to eliminate them, if everything is positioned properly).

    Remember above, when I said chances are home owners don't care? What they (and 99% of all humans purchasing something) don't care about is the process. What they do care about is the results.

    Do you care how a phone works...or do you care if your business phone went dead for even one hour? Do you care how HTTP Internet protocol works...or do you care if your website went down for even one day?

    See...it's not the process most people care about (although some may be curious about it after the fact) -- it's the result!

    So, don't tell your prospects you use "the finest quality building materials" (and who isn't going to say that to get the business) or "the best workers" (and, again, who doesn't say that) -- tell them what matters...the results. For example:

    . we build our rooms perfectly square (feature) so your furniture doesn't look wonky, or your built-in pieces will actually fit properly without additional, and expensive, work (benefit)

    . we prime both sides of natural siding (feature) so it lasts longer (benefit) than builders that don't (extra points: mention how much longer)

    . we allow wood flooring to acclimatize before installation (feature), to eliminate gaps, splitting and checking (benefit)...other builders / renovators that don't do this risk your floor being unsightly and uneven withing 6 to 12 months!

    Your Advantage? Effectively Eliminate a Large Portion of Your Competition!

    As mentioned above...if you list a number of areas where you add quality and value to your prospects, and you do it by focusing on the end-result -- the benefits, not the features, you'll rocket above yo

    Business Management Decisions; Environmental Controls for a Mobile Oil Change Business
    When considering the executive management decision to launch a mobile oil change business whether it is a small business or a large Corporation there is much to think about besides the obvious things of employee training, equipment, scheduling, marketing, business structure, cash flow and growth. Such unique businesses like mobile oil change business will require additional Business Management Decisions; especially things such as Environmental Controls and perhaps some alternative marketing plans.You see, although a Mobile Oil Change Business is rather a simple automotive on-site service business it also makes sense that getting to all those customers and getting rid of the oil collected will take significant planning.
    ders and renovators sell on features and, therefore, end up in 'price comparison hell.' Selling on benefits quickly eliminates competition from consideration, especially 'unprofessionals' (since they make it so easy for us to eliminate them, if everything is positioned properly).

    Remember above, when I said chances are home owners don't care? What they (and 99% of all humans purchasing something) don't care about is the process. What they do care about is the results.

    Do you care how a phone works...or do you care if your business phone went dead for even one hour? Do you care how HTTP Internet protocol works...or do you care if your website went down for even one day?

    See...it's not the process most people care about (although some may be curious about it after the fact) -- it's the result!

    So, don't tell your prospects you use "the finest quality building materials" (and who isn't going to say that to get the business) or "the best workers" (and, again, who doesn't say that) -- tell them what matters...the results. For example:

    . we build our rooms perfectly square (feature) so your furniture doesn't look wonky, or your built-in pieces will actually fit properly without additional, and expensive, work (benefit)

    . we prime both sides of natural siding (feature) so it lasts longer (benefit) than builders that don't (extra points: mention how much longer)

    . we allow wood flooring to acclimatize before installation (feature), to eliminate gaps, splitting and checking (benefit)...other builders / renovators that don't do this risk your floor being unsightly and uneven withing 6 to 12 months!

    Your Advantage? Effectively Eliminate a Large Portion of Your Competition!

    As mentioned above...if you list a number of areas where you add quality and value to your prospects, and you do it by focusing on the end-result -- the benefits, not the features, you'll rocket above yo

    Protect Your Time from Being Robbed
    What if someone asks to borrow your checkbook? And then the person asks you to sign the checks.Absurd, right?And yet, people freely sign over huge chunks of their lives by agreeing to attend pointless meetings.Here are five things to ask about before agreeing to attend.1) GoalsWhat are the goals for the meeting? Why are you holding this meeting? What do you want to have when you finish?If you receive a vague answer, such as, “to discuss business” or “just to talk about something,” be warned that this meeting lacks direction.2) PlanWhat is your agenda? How do you plan to accomplish these goals? What will we do during the meeting?You want to know the plan for the mee
    nd, again, who doesn't say that) -- tell them what matters...the results. For example:

    . we build our rooms perfectly square (feature) so your furniture doesn't look wonky, or your built-in pieces will actually fit properly without additional, and expensive, work (benefit)

    . we prime both sides of natural siding (feature) so it lasts longer (benefit) than builders that don't (extra points: mention how much longer)

    . we allow wood flooring to acclimatize before installation (feature), to eliminate gaps, splitting and checking (benefit)...other builders / renovators that don't do this risk your floor being unsightly and uneven withing 6 to 12 months!

    Your Advantage? Effectively Eliminate a Large Portion of Your Competition!

    As mentioned above...if you list a number of areas where you add quality and value to your prospects, and you do it by focusing on the end-result -- the benefits, not the features, you'll rocket above your competition in two ways:

    1) the lower-quality, 'price-fighting' competition can't fight you on price now, since you've exposed what the client will miss if they go for the cheaper price; and

    2) if your other competition isn't doing this, guess who comes out on top? Even among other professional builders / renovators, if they're selling on features and you're selling on benefits, you'll close the lion's share of the work!

    Will people still go for the lower-priced builder? Yes. There will always be someone who'd rather get it cheap rather than get it good. But...if you effectively educate your client -- show them the benefits of your extra quality, extra value and (yes) extra price, you'll be happy to let the price-shoppers go (and the headaches that usually come with them), and keep the quality-buyers.

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