I Offered Discounts People Didn't Ask For
Send us a text It's often the case that when you don't feel confident about what you charge you make judgements or even decisions for your customers. Ones that aren't yours to make. It often shows up in the form of granting unnecessary discounts. For example if you've offered discounts before someone asks for one, before they've objected or before you've understood how they value your offer. Unnecessary discounting is one way in which businesses sabotage themselves. Don't get me wrong there's...
It's often the case that when you don't feel confident about what you charge you make judgements or even decisions for your customers. Ones that aren't yours to make. It often shows up in the form of granting unnecessary discounts. For example if you've offered discounts before someone asks for one, before they've objected or before you've understood how they value your offer.
Unnecessary discounting is one way in which businesses sabotage themselves. Don't get me wrong there's a time and place for discounting in some businesses. But more often than not people have offered discounts not because it was a sound business decision. The three main reasons they've done it are fear, it's what they learned from being a consumer or that's what everyone else seems to be doing. None of those are good business reasons. You have to be smarter about your discounting tactics, otherwise it destroys value, it hurts your confidence and it will definitely drain your profits.
In This Episode:
In this episode, I sit down with Rahgna (RJ) Lewis, the CEO of RJ Lewis Digital. Rahgna Lewis is an Army wife and a mother of three. A tinker by nature and a recovering web developer, she created what is now RJ Lewis Digital in 2010 – a boutique agency that specializes in operations strategy and business management. RJ and her team collaborate with small business owners and teams to refine processes, implement procedures, and incorporate the tools they need to get work done — smoothly.
Rahgna shares with us her pricing journey. She reflects on how at the beginning she was offering discounts no one even asked for. What led to her doing that? How did she realize there was an issue? What impact did it have? And how was she able to turn things around? What does she recommend to those of you who find themselves behaving in a similar way? She shares that and so much more.
Enjoy the episode.
Podcast Highlights
- 0:00 Intro
- 2:06 Getting to Know Rahgna
- 3:29 Pricing at the Beginning
- 7:40 Things Rahgna Learned in Pricing
- 9:13 Offering discounts
- 12:06 A journey of Self-Discovery
- 15:00 Wrapping it Up
How to Reach Rahgna:
Twitter:
https://twitter.com/rjzbossaf
Instagram:
https://www.instagram.com/rjzbossaf/
LinkedIn:
https://www.linkedin.com/in/rjzbossaf/
Telegram: https://t.me/theownersperspective
Link to all-in-one audio & video editing tool:
https://www.descript.com/
Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.
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