What To Focus On Before Starting A Business
“I’d rather not lose the deal.”
“And since I have a low overhead…I think I’ll price lower than my competition.”
“That way at least I’ll get more customers upfront. Right?”
Wrong!
I hear founders reasoning like this all the time.
But here’s the deal…
The race to the bottom only has ONE winner.
Walmart…
And if you’re not the Walmart of your industry…
I.e. if you’re not prepared to deliver the bare minimum, reward your team with the leftovers, or rely on mass customer acquisition just for a TINY profit margin…
Then this pricing model is probably not for you.
Premium pricing is much better.
And the good news?
Done right, it could even improve your win rate.
I’ve seen companies TRIPLE their price, and not have it affect their win rates on sales conversations.
That’s right: TRIPLE their price.
This is what I was telling Jill the other day when she came to me passionate about her new business…
She had a trickle of revenue already coming in but not enough for her to quit her 9–5 and retire.
So we worked through what you should focus on when you’re just getting started, and what you should avoid like the plague.
Check it out in today’s GSS episode.
Work With Us Directly To Scale Your Business >> Find Out More Here
In this episode, you’re going to hear about:
- Why many companies die of indigestion, and not starvation…
- The reality of pricing and how to increase your ‘price to value’…
- Why less is usually more…
- How to reframe your pricing in your prospect’s mind…
- The economic model of top-performing businesses…
- And a lot more…
If you’re just getting started, or if you’ve already started building your business and you want to transform your ability to grow, check out the episode here, right now.
Looking forward to hearing your biggest takeaways in the comment.
P.S. Prefer audio? Subscribe to the Growth Stacking Show directly on Apple Podcasts or Spotify and make sure to leave a rating and review if you find the show helpful.
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Dan Martell is a serial entrepreneur, an investor in 40+ startups like Intercom, Udemy, and Unbounce and the creator of SaaS Academy, helping over 500 B2B SaaS founders scale faster. He’s founded five SaaS companies and successfully exited three of them. If you want to scale faster without hitting the usual roadblocks, make sure to follow him on Youtube, Facebook, Instagram, LinkedIn & Twitter.
Join his exclusive Scaling SaaS Founders Facebook Group.
Originally published at https://www.danmartell.com on June 21st, 2021.
