Stop shooting yourself in the foot!

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Stop shooting yourself in the foot!

Encourager-In-Chief: June 12th, 2019

Lesson 3: Gouging and not delivering.

Did you ever notice that when you receive good service from a business and it gradually increases its prices, you might grumble, but you don’t stop patronizing them? The fact is, we understand that prices go up and there’s not much we can do about it. As long as the service remains good (or great), we tend to go along with it. However, I’ve recently noticed a very disturbing trend.

I had to get rid of several long-term service providers because while the prices continually went up, the service continually went down. Psychologically, when this happens, I feel like I’m being gouged. I’m not thinking that these companies have to cover their increasing costs to maintain the service I expect from them. Instead, I’m thinking they’ve gotten complacent and I’m paying more and getting less than I used to get when they were good (or great.)

Repeat customers are your surest barometer of success. When your longtime customers start abandoning ship, you’d better be finding out why. If they tell you that the service has gotten worse, the last thing you should be doing is raising your prices. Instead, you need to figure out where the problem is. The first place to start is with your values.

Go back and remember why you started your business in the first place. If you’re not putting your customers’ needs and well-being first and foremost in your business, you are in big time trouble. Your competition will eat you alive once the word gets out. And the word will get out because any good competitor will ask your customers why they are switching. I know I do.

If you think you’re going to lose money if you stop raising your prices, just think about how much more money you’ll lose if you don’t regain your focus and put it squarely on your customers’ best interests. Complacency kills business and your reputation. You earn the right to charge more only after you deliver more.

Good is the enemy of great.
- Jim Collins

This excerpt is taken from my Organizational Excellence II: Combatting Complacency seminar. I encourage you to register here for this seminar, which will be presented on November 21, 2019 from 8:30 am to 12 noon at the Eden Resort.

Organizational Excellence II: Combating Complacency

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Order my Get Organized Now! audio program which covers this lesson in much greater detail.

Get Organized Now!

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