The speaker (Clegg) explains a pricing and customer-selection strategy: set prices deliberately high to attract premium buyers and repel customers who want things free or cheap. The speaker defines informal buyer categories—"free people" (expect everything free), "cheapie" (willing to pay little), "fee people" (willing to pay a fee), and "people" (willing to pay premium)—and advises to position offerings and prices to attract the premium-paying segment.
Chapters
I'm sure all of us would love to have an oversubscribed business where people are lined up out the door and around the building, credit card in hand, ready to pay us whatever we charge for the services and the products we provide. But here's the problem. We don't get what we want. We get what we are. And one of the best things I do for my clients is I charge them a lot of money to work with me. And the reason I do that is because I know that people who are unwilling to pay will be unable to charge. So I make my prices so high that free pool people don't want them. What do you mean free people? What's freeboot people? Free people? People are people who want everything for free. I make my prices so high cheaple people don't want them. What's cheapable people? Those are people they're willing to pay, but they're only willing to pay a little bit, so they want everything for cheap. I don't want cheap stuff. Cheap. You know, I don't go to Walmart. Why? I don't want cheap stuff cheap, right? Or good stuff cheap or whatever their motto is. I don't want it. I don't want cheap stuff. I want good stuff, right? And I don't. I don't even have a whole lot of stuff for feeble people. Those are people who are willing to pay a fee. My best products are for people. What are people People? Those are people who are willing to pay a premium for what they buy. If you want to attract those people, be those people.
