How much will it cost? Never ask that question!
Asking the wrong questions can cost you.
When you are buying a service or a product, a logical first question may be “How much will it cost?”. If you start with price you may never learn the full value you can get from that purchase. Even worse is if the salesperson leads with price or immediately causes you to raise a question regarding price. Cal Fussman can easily tell the value that a great question can create. He transformed what was going to be a short 10-minute interview with Mikhail Gorbachev, into a more than 2-hour long conversation. Even when there was supposed to be a time limit because of other important commitments that Mr. Gorbachev already had.
Trying to put a price to value is a game that should not be played. Dave Kurlan mentions, in his article There is Zero Value in Value Pricing, when people start negotiating because they don’t want to jeopardize a great opportunity they are doing a disservice to themselves and to their customers.
Three key actions you can take NOW, to avoid the value pricing trap, are:
- Identify Value: You must understand exactly what is the problem that you are solving, who are you solving it for and how much value is being created in that process.
- Internalize Value: Once you know the value that is being created you must stand by it and be confident that this is possible because of your talents. Don’t sell yourself short, but don’t let your ego be the one that speaks for you either.
- Implement Value: Under-promise and over-deliver. Take the actions needed to exceed expectations.
Most top performers understand these three key steps and still the results don’t show in their efforts. There are quality assessments that can help you and your teams identify what is missing in your process and make the changes that are needed to get results.
Having a mindset of always thinking about the other person is key. You and your team must be well liked, internally and externally, so that you can start building meaningful relationships among yourselves and your customers. And that takes time. It’s a marathon, not a sprint.
If you want to be able to Identify, Internalize and Implement Value you must learn how to ask great questions. TruCore helped me and I’m sure they will be able to help you. And remember: Don’t play the Value-Pricing game!
Learning and sharing knowledge is my passion, let’s connect if it’s yours too.
Alejandro I. Sanoja