Most business owners compete on price!

by | Business

Most business owners compete on price!

Yep, sadly, it’s true. And it’s highly likely that you are too.

When your marketing and advertising is all about getting your name out there and hoping they’ll call you when they want what you sell’, all you’re doing is setting yourself up to compete on price.

What that looks like in your business, is that you cut your prices to match those of your competitors and when they slash theirs even further you do the same.

The result is that you’re constantly giving away your profitability in your business and you’re working really hard just to keep it ticking over, to pay the bills, to pay the ways. BUT you’re not gaining anything for yourself in terms of profit.

That only ensures that your business is way harder work than it needs to be. Or than you want it to be.

And you end up feeling as though you’re working all the time for nothing. You’re treading water. You’re spinning your wheels. Going nowhere.
Really?

You’ve heard the saying: “Nothing on this earth is standing still. It’s either growing or it’s dying. No matter if it’s a tree or a human being”. Lou Holtz

While he’s speaking about a tree or a person, the same is fundamentally true for business also.

You’re either growing or dying.

Your business is either growing or dying.

Which do you want for your business?

If you chose dying, then I’ll say bye-bye to you as you won’t want to hear anything I’ve got to say. Cos I’m all about growing your business.

If you chose growing, good on you and welcome to my world.

When you intend to grow your business, competing on price has to stop. Period.

When will you stop competing on price in your business?

Cos the truth is you can’t grow your business while you’re competing on price. It’s that simple.

So how do you stop competing on price?

Truth is there’s way, way, way more to marketing and advertising that ‘getting your name out there’.

We’ve been sold a myth over the past few decades that said we just had to keep putting our name out there and buyers would come to us when they are ready.

It’s just not true.

What I’ve found, is that business owners don’t know how to market effectively and so they copy everyone else’s advertising. And they end up competing on price.

The truth is, marketing’s job is not to sell.

Marketing’s job is to help your prospective customers progress along their buyer’s journey until they are ready to purchase from you.

That’s it’s true purpose. And there’s a formula to it!

Want to know more? Grab my FREE eBook
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Daphne Wells is an ICF credentialed coach who assists women in business create the business and life they dream of.  She lives in the beautiful South Island of New Zealand from where she works with women business owners and entrepreneurs worldwide.  She’s President of ICF NZ Southern. Grab her FREE eBook ‘Bring them to me now, baby! How to attract all the clients your business can handle’ at www.DaphneWells.com  

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about the author

Daphne Wells coaches women to design a life and business that feels free by helping to release expectations that don’t resonate and fully embrace what makes them happiest. An advocate for independence and author of Decide – Choose your own path, Daphne helps women find their inner strength and take courageous action all over the world.

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