Pricing Strategies - When do you talk about price?

When do you talk about price? I got a great question on one of my videos from one of my YouTube viewers, Adarsh. Love you guys. And Adarsh wrote in to say, once you decide to approach a company, what should one's proposal contain? Is it okay to put the price for my idea along with the points for my ideas going? So this is a great question, Adarsh. Thank you for writing in. I hate it when entrepreneurs compete on price. Entrepreneurs, we're constantly undercutting ourselves, we're constantly shooting ourselves in the foot, and we're not making the money that we deserve because our prices are too low and we feel like this is the only way to compete. The reality is you need to compete on value. You need to provide incredible value to your customers and not lead with price. Competing on price is a loser's game because there's always going to be somebody who's going to undercut you. There's going to be somebody who will take a loss. Who'll do it for free to undercut you because they want the business. There's always gonna be that person, so don't play that game. You need to compete on value. You need to offer a fair price for what you're providing in return of the value. Okay, that's really important. So if price is not the most important thing that you're selling on, then don't lead with it, right? Naturally it's gonna come up, but you don't wanna lead with price because it's scary. Right, when, when a customer looks at your price versus somebody else's price, the natural inclination is to go for the cheaper one. So you have to prove your value. So what I would try to do is talk to them and show how great you are and prove your value and let them, let them come off with every discussion with you saying, "Wow, that guy really knows what he's talking about." When you get them feeling that, then you can discuss pricing because they're feeling the value. So for me, when I do, when I do calls with corporate clients or prospects, people who found me, they're interested, you know, if you want me to write a blog post, for example, I might write a blog post. It's got to be value-add, it's got to help entrepreneurs, and I'll charge $2,500 to do it. $2,500, that's not cheap, right? Other people would charge $500, $300. $100, free. They do it for free because they want to be associated with that brand. So why do companies come to me and are willing to pay that much? Because when I talk to them, I don't lead with, "It's gonna cost you $2,500 to do this project," right? I talk about what they're trying to do. I prove my knowledge. I give them tons of free advice and ideas to help them grow their business. I give them ideas that they realize that I know what I'm talking about, and I could be a really valuable resource for them. And I'm upfront with them. You know, I'm telling them, if you're trying to work with entrepreneurs, I'm one of the best people in the world to work with. If you're selling to anybody else, then I'm not. You know, if you're trying to sell to just consumers in general, don't work with me. I'm not the right person to talk to. And I'm honest about that, and you should be too. But they see the value. I give them lots of great ideas, free ideas that they can't execute without me. They could try, and if they wanna try, then I don't want those people as clients anyway. You want the people who see the value, who understand what you do, who appreciate it, and then when you can get the price, then you can talk about how much it's gonna cost them because they understand that they really wanna work with you and have you on as someone to help them out. That's when you talk about price, but not right up front. And stop competing on price, everybody. Find more value to add to your customers so so you're not racing to the bottom, having people undercut you constantly. Believe. For those of you watching, like the video, thumbs up below. Leave a comment, let me know what you think. Ask a question below, I'll make a video response. I love watching your comments come in. They really make my day every day, so thank you. And click on my face to subscribe to the channel. Thank you so much, I'll see you soon.