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Casual Articles - Selling A Higher Price In A B-B Environment
Saying No to Design Competitions
Design competitions have been hitting the news more and more lately. Seemingly almost every week a ‘call for submissions’ request hits the headlines, asking for artists and designers to submit their ideas and proposals. Due to the seemingly large talent pool of designers available through the help of the internet, companies and organizations have been capitalizing on this new-found resource as a solution to their design needs.What’s interesting is that there has been a backlash from the design community in regards to these competitions. There are a number of reasons for this. One is that ultimately, the ‘competition’ itself becomes the real news, while often times the contest organizer will fail to adequately promote the winning designer once the project is completed.Another issue at hand is the waste of resources that occurs when artists compete to submit winning designs. This robs designers of their time and effort causing great ineff
how other companies are experiencing the same increases. (An example is the increasing cost of oil, which has forced any company that uses petroleum in the manufacturing or transportation of goods to most likely increase prices.) When having this discussion, be sure to show empathy for the customer, but remain firm in what you’re saying. If the customer senses any hesitation on your part, they will likely try to exploit it in the form of a price concession from you. Also, be prepared to share steps that your company has taken in an attempt to avoid a price increase. This can include ways you’ve already cut costs or how the price increase is the only way to maintaDesign competitions have been hitting the news more and more lately. Seemingly almost every week a ‘call for submissions’ request hits the headlines, asking for artists and designers to submit their ideas and proposals. Due to the seemingly large talent pool of designers available through the help of the internet, companies and organizations have been capitalizing on this new-found resource as a solution to their design needs.What’s interesting is that there has been a backlash from the design community in regards to these competitions. There are a number of reasons for this. One is that ultimately, the ‘competition’ itself becomes the real news, while often times the contest organizer will fail to adequately promote the winning designer once the project is completed.Another issue at hand is the waste of resources that occurs when artists compete to submit winning designs. This robs designers of their time and effort causing great ineff
Identify Your Ideal Clients and How To Reach Them
If you expect to succeed as a professional solution provider - coach, consultant, etc., you first have to last. Just last long enough and you'll be the only person who got started when you did, who is still around.After all, 80-90% of the folks who got into coaching or insurance or whatever when you did, will fail and leave the business and it will all be yours.So while you are busy outlasting the others - there is one thing you must do if you want to ever develop a sustainable business.You have to identify a client type for whom you are ideally suited. And it is not a complicated process!There are two most likely causes of failure - before you last long enough to convince the world of your brilliance. Ironically these two issues are also the two keys to your ultimate success.The first is a lack of capital. You run out of money before you generate regular revenues sufficient to support yourself.And since most
Even the most sales savvy among us have had to fight back the nerves that materialize whenever we are faced with telling a customer about a price increase. Talking about it never makes for an easy conversation. When discussing a price increase in a business-to-business environment, it is important to remember that our customers have probably had to have the same discussion with their own customers. A company exists only as long as it earns a profit and it can only do that if it delivers a quality product or service at the right price. This means that the key to any conversation about raising the price is to emphasize that such an increase will ensure product quality. If you expect to succeed as a professional solution provider - coach, consultant, etc., you first have to last. Just last long enough and you'll be the only person who got started when you did, who is still around.After all, 80-90% of the folks who got into coaching or insurance or whatever when you did, will fail and leave the business and it will all be yours.So while you are busy outlasting the others - there is one thing you must do if you want to ever develop a sustainable business.You have to identify a client type for whom you are ideally suited. And it is not a complicated process!There are two most likely causes of failure - before you last long enough to convince the world of your brilliance. Ironically these two issues are also the two keys to your ultimate success.The first is a lack of capital. You run out of money before you generate regular revenues sufficient to support yourself.And since most
As you begin to prepare your strategy for communicating a price increase, ask yourself the following questions:
1. Does the customer take your product/service and add a standard percentage increase in price when selling to their customers? If this is the case, you can point out that your customer will make more money by taking a standard percentage of a higher amount.
2. What percentage of the customer’s business is your product/service? If the percentage is small, tell them that the amount of increase is only a small percentage of their total business. If the percentage is great, then you can emphasize that the price increase is necessary to maintain the level of product quality necessary for them to serve their customers.
3. Has the customer faced any other price increases from other vendors? If so, try to identify what some percentages of the other increases have been. If yours falls into the low end, then you can point out how your increase is comparatively smaller than that of many others. If your increase is at the high end, you can either explain how yours is the only one you expect to take or that you wouldn’t be surprised to see others coming back to take another round of price increases.
4. How does the customer view you and the products/services you sell? If you have a quality reputation and record, then you can emphasize that the increase has been carefully thought through and it is only being taken to ensure continued quality. If you have a spotty record with the customer, then you should stress how the price increase will allow you to begin addressing some of the issues in question by allowing you to improve the overall quality of service they have been receiving. Naturally, it is important to make sure all comments are backed with a commitment to follow-through.
5. Will the customer raise an issue with the price increase? Be prepared to show documentation of how your costs have escalated and how other companies are experiencing the same increases. (An example is the increasing cost of oil, which has forced any company that uses petroleum in the manufacturing or transportation of goods to most likely increase prices.) When having this discussion, be sure to show empathy for the customer, but remain firm in what you’re saying. If the customer senses any hesitation on your part, they will likely try to exploit it in the form of a price concession from you. Also, be prepared to share steps that your company has taken in an attempt to avoid a price increase. This can include ways you’ve already cut costs or how the price increase is the only way to maintai
College or Work after High School? Tell Me Please!
One of the toughest career decisions for high school students and their parents is whether to get a job and settle down in that for the rest of their lives or to continue their studies in college. Three to five decades up the line, this would not have been a question at all that would make you lose sleep. The post World War II era saw many industries flourish and needing workers to "man" their businesses. That was when they took high school graduates and trained them for routine jobs, mostly on factory floors.The Present Scenario: Will It Support High School Graduates?The rise of technological advances, fast paced work styles catering to newfound lifestyles and the latest buzzword globalization in the last two decades has changed the present job market scenario entirely.High school children of WW II veterans who got easy jobs were trained by their employers for specific jobs. This is obviously is a far cry from the situation tod
ity. One of the toughest career decisions for high school students and their parents is whether to get a job and settle down in that for the rest of their lives or to continue their studies in college. Three to five decades up the line, this would not have been a question at all that would make you lose sleep. The post World War II era saw many industries flourish and needing workers to "man" their businesses. That was when they took high school graduates and trained them for routine jobs, mostly on factory floors.The Present Scenario: Will It Support High School Graduates?The rise of technological advances, fast paced work styles catering to newfound lifestyles and the latest buzzword globalization in the last two decades has changed the present job market scenario entirely.High school children of WW II veterans who got easy jobs were trained by their employers for specific jobs. This is obviously is a far cry from the situation tod
As you begin to prepare your strategy for communicating a price increase, ask yourself the following questions:
1. Does the customer take your product/service and add a standard percentage increase in price when selling to their customers? If this is the case, you can point out that your customer will make more money by taking a standard percentage of a higher amount.
2. What percentage of the customer’s business is your product/service? If the percentage is small, tell them that the amount of increase is only a small percentage of their total business. If the percentage is great, then you can emphasize that the price increase is necessary to maintain the level of product quality necessary for them to serve their customers.
3. Has the customer faced any other price increases from other vendors? If so, try to identify what some percentages of the other increases have been. If yours falls into the low end, then you can point out how your increase is comparatively smaller than that of many others. If your increase is at the high end, you can either explain how yours is the only one you expect to take or that you wouldn’t be surprised to see others coming back to take another round of price increases.
4. How does the customer view you and the products/services you sell? If you have a quality reputation and record, then you can emphasize that the increase has been carefully thought through and it is only being taken to ensure continued quality. If you have a spotty record with the customer, then you should stress how the price increase will allow you to begin addressing some of the issues in question by allowing you to improve the overall quality of service they have been receiving. Naturally, it is important to make sure all comments are backed with a commitment to follow-through.
5. Will the customer raise an issue with the price increase? Be prepared to show documentation of how your costs have escalated and how other companies are experiencing the same increases. (An example is the increasing cost of oil, which has forced any company that uses petroleum in the manufacturing or transportation of goods to most likely increase prices.) When having this discussion, be sure to show empathy for the customer, but remain firm in what you’re saying. If the customer senses any hesitation on your part, they will likely try to exploit it in the form of a price concession from you. Also, be prepared to share steps that your company has taken in an attempt to avoid a price increase. This can include ways you’ve already cut costs or how the price increase is the only way to mainta
Sometimes Team Success is About Harnessing the Power of Self
Voracity is a very powerful emotion that, if harnessed properly, can be both self-serving and profitable for any business. The secret is to find a way to create an environment where selfishness can and will serve two masters. How can that be done? I'm glad you asked!Remember why you came to work today, and be honest with yourself. Your first answer (company line) is that you wanted to get started on making your company the best and most highly-respected in the nation or the world. But ask again, this time giving yourself a chance to reflect a bit further. OK, so you might have come to earn a paycheck so that you can pay the bills and possibly have a little left over to spend on yourself. The introspection continues: Will I have more income than expenses this week? Will I be able to take a vacation? Can I afford to go out to diner tonight rather than having to eat at home in front of the television? Suddenly, your honorable corporate mantra
ase is necessary to maintain the level of product quality necessary for them to serve their customers.Voracity is a very powerful emotion that, if harnessed properly, can be both self-serving and profitable for any business. The secret is to find a way to create an environment where selfishness can and will serve two masters. How can that be done? I'm glad you asked!Remember why you came to work today, and be honest with yourself. Your first answer (company line) is that you wanted to get started on making your company the best and most highly-respected in the nation or the world. But ask again, this time giving yourself a chance to reflect a bit further. OK, so you might have come to earn a paycheck so that you can pay the bills and possibly have a little left over to spend on yourself. The introspection continues: Will I have more income than expenses this week? Will I be able to take a vacation? Can I afford to go out to diner tonight rather than having to eat at home in front of the television? Suddenly, your honorable corporate mantra
3. Has the customer faced any other price increases from other vendors? If so, try to identify what some percentages of the other increases have been. If yours falls into the low end, then you can point out how your increase is comparatively smaller than that of many others. If your increase is at the high end, you can either explain how yours is the only one you expect to take or that you wouldn’t be surprised to see others coming back to take another round of price increases.
4. How does the customer view you and the products/services you sell? If you have a quality reputation and record, then you can emphasize that the increase has been carefully thought through and it is only being taken to ensure continued quality. If you have a spotty record with the customer, then you should stress how the price increase will allow you to begin addressing some of the issues in question by allowing you to improve the overall quality of service they have been receiving. Naturally, it is important to make sure all comments are backed with a commitment to follow-through.
5. Will the customer raise an issue with the price increase? Be prepared to show documentation of how your costs have escalated and how other companies are experiencing the same increases. (An example is the increasing cost of oil, which has forced any company that uses petroleum in the manufacturing or transportation of goods to most likely increase prices.) When having this discussion, be sure to show empathy for the customer, but remain firm in what you’re saying. If the customer senses any hesitation on your part, they will likely try to exploit it in the form of a price concession from you. Also, be prepared to share steps that your company has taken in an attempt to avoid a price increase. This can include ways you’ve already cut costs or how the price increase is the only way to mainta
5 Tips For Acing Any Job Interview
Job interviews are a right of passage for young adults and a real pain in the you know what for everyone else. They are preceded by stress, nervousness and uncertainty. The problem is that your prospective employer is looking for certain things out of you and you have no idea what they are. For all you know, they’re looking for a supremely flexible person that can wing certain things and you present yourself as a regimented go getter that will follow company policy to the letter. You’re never going to know for sure but here are 5 tips to help you ace any job interview.Study the prospective companyYou want to make sure you know the company that you’re interviewing for as thoroughly as possible. When did they come into business? How did they grown into what they are now? Most importantly, where do they see themselves going? If you know these things, you’ll be better able to articulate how you fit into their plans.Know the p
sell? If you have a quality reputation and record, then you can emphasize that the increase has been carefully thought through and it is only being taken to ensure continued quality. If you have a spotty record with the customer, then you should stress how the price increase will allow you to begin addressing some of the issues in question by allowing you to improve the overall quality of service they have been receiving. Naturally, it is important to make sure all comments are backed with a commitment to follow-through.Job interviews are a right of passage for young adults and a real pain in the you know what for everyone else. They are preceded by stress, nervousness and uncertainty. The problem is that your prospective employer is looking for certain things out of you and you have no idea what they are. For all you know, they’re looking for a supremely flexible person that can wing certain things and you present yourself as a regimented go getter that will follow company policy to the letter. You’re never going to know for sure but here are 5 tips to help you ace any job interview.Study the prospective companyYou want to make sure you know the company that you’re interviewing for as thoroughly as possible. When did they come into business? How did they grown into what they are now? Most importantly, where do they see themselves going? If you know these things, you’ll be better able to articulate how you fit into their plans.Know the p
5. Will the customer raise an issue with the price increase? Be prepared to show documentation of how your costs have escalated and how other companies are experiencing the same increases. (An example is the increasing cost of oil, which has forced any company that uses petroleum in the manufacturing or transportation of goods to most likely increase prices.) When having this discussion, be sure to show empathy for the customer, but remain firm in what you’re saying. If the customer senses any hesitation on your part, they will likely try to exploit it in the form of a price concession from you. Also, be prepared to share steps that your company has taken in an attempt to avoid a price increase. This can include ways you’ve already cut costs or how the price increase is the only way to mainta
Project Managers and Technical Writers: The Outsiders that Make Tech Work
Project managers need to create plans, form teams and keep track of all of the challenges and deadlines that are part of today's fast paced product development cycle. They stand in the center of a crowd of different people, and have to unite and guide them towards a specific goal.The irony of project management is that while managers have a hand in everything, they participate only indirectly in all of the different tasks that they watch over. Project managers may not write a line of code, but they are responsible for the getting the product done on time. That distance from the specifics of the product can give project managers the objectivity necessary to deliver the product by its deadline.Even so, the gap between the project manager and those working with the details of the product can lead to serious problems. Many managers have found that an inability to communicate with and relate to the technology experts working under them can d
how other companies are experiencing the same increases. (An example is the increasing cost of oil, which has forced any company that uses petroleum in the manufacturing or transportation of goods to most likely increase prices.) When having this discussion, be sure to show empathy for the customer, but remain firm in what you’re saying. If the customer senses any hesitation on your part, they will likely try to exploit it in the form of a price concession from you. Also, be prepared to share steps that your company has taken in an attempt to avoid a price increase. This can include ways you’ve already cut costs or how the price increase is the only way to maintain the quality and service the customer expects. A final point to emphasize is the time lag between this price increase and the previous increase. Having information available concerning the rate of inflation during that specific time period may also help diffuse the issue.Project managers need to create plans, form teams and keep track of all of the challenges and deadlines that are part of today's fast paced product development cycle. They stand in the center of a crowd of different people, and have to unite and guide them towards a specific goal.The irony of project management is that while managers have a hand in everything, they participate only indirectly in all of the different tasks that they watch over. Project managers may not write a line of code, but they are responsible for the getting the product done on time. That distance from the specifics of the product can give project managers the objectivity necessary to deliver the product by its deadline.Even so, the gap between the project manager and those working with the details of the product can lead to serious problems. Many managers have found that an inability to communicate with and relate to the technology experts working under them can d
6. Why does the customer buy from you anyway? Knowing this will allow you to reinforce these points when talking about the price increase. You should also have ready at least two key needs of the customer that your product or service satisfies. Be sure all of your strategic information about the customer is up-to-date before a price increase is announced.
7. How much business is at risk from the customer? We can sometimes get carried away thinking that if we raise prices, we’ll lose the customer, even though this is rarely the case. Think through what steps the customer would have to take to move to another vendor. Many times the work involved in moving is not worth the effort, and thus the business is less at risk than thought.
The following Sales Presentation tips are the best practices to employ when executing a price increase:
1. Give the customer lead-time. Provide the customer with enough notice to allow them to make adjustments in their information systems and to exercise at least one more order at the existing price.
2. Avoid showing favorites. Pricing integrity is always essential, but especially so during a price change. Do not treat particular customers more favorably than others in pricing during an increase. Different pricing levels are fine as long as they can be logically defended so that a customer who is not receiving the price break can understand and accept the price change.
3. Do not allow your customer to find out about a price increase from your invoice. Any changes in pricing must come from the account executive or a person of high position within the company. Information regarding a price change should only appear on an invoice after every person involved has been personally notified. (Sufficient time should occur in the price increase timeline to allow at least one invoice to contain a note of the pending increase in price.)
4. Make sure each customer service representative and anyone else who comes in contact with the customer is fully aware of when the price increase is going to be communicated. One of the most significant possibilities for confusion is when the customer hears conflicting information from different departments. Everyone in customer service needs to be fully aware of the price increase, the reasoning behind it, and the logistics for implementation. T
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