Stop Helping Clients Chase the Bottom

first_imgA business owner sells a product. A new salesperson shows up and teaches the business owner that by changing some of the component parts of his product that he can create that product at a lower cost. This makes his product and business more profitable.Later, another salesperson shows up and teaches the business owner that buy choosing another cheaper component part (in addition to the one he’s already installed in his product) that he can manufacture his product at an even lower price and capture even more profit.This whole “cheaper” thing is really starting to pay off. The business owner follows this path. He continues to try to find lower-priced components with which to manufacture his product. But over time, his product has changed. The product is not as high quality as it was when he originally created it. The perception of value has changed. Now it’s cheaper.Slowly at first, then faster, the business owner loses market share to competitors with a product that costs more but is of significantly higher quality. The competitor’s product is perceived as being more valuable–and it’s not the lowest price.As fewer and fewer people are willing to buy the business owners product, he begins to lower his price in an attempt to compete with product’s that cost more. He tries desperately to widen the perception of value. Now with the perception of value destroyed, he competes on price. In doing so, he is less and less profitable.You are hurting your customer by helping them find a lower price if it hurts their long-term business prospects. Your job as a sales person (and good business partner) is to help your clients create more value. If you can help them produce greater value at the same or lower price, that’s a good thing. It’s helping them obtain a lower price in a way that doesn’t hamper their ability to deliver value to their customers. But if what you sell them reduces the value that they create for their clients, then you are harming them by winning the business on price and allowing your client to underinvest in the real outcome they need.By helping your clients chase the bottom on price you may be helping them destroy the value they create.QuestionWhat part do you play in your client’s value chain?How do you help your clients deliver value to their customers?When is it wrong to help your client obtain a lower price?When is cheaper better? Is the cheapest product ever the best product in its category? Essential Reading! Get my 3rd book: Eat Their Lunch “The first ever playbook for B2B salespeople on how to win clients and customers who are already being serviced by your competition.” Buy Nowlast_img read more

WATCH: Kobe Bryant recites retirement poem with composer John Williams

first_imgLATEST STORIES View comments His short but sweet recital was met with a standing ovation from the pleased audience.Meanwhile, the 39-year-old Bryant expressed his delight upon performing and sharing the stage with one of music’s most recognizable names.“Never thought I’d be on stage w/ the great JOHN WILLIAMS @HollywoodBowl to perform the #DearBasketball animated short. Thank u LA #mindblown,” he wrote. Never thought I’d be on stage w/ the great JOHN WILLIAMS @HollywoodBowl to perform the #DearBasketball animated short. Thank u LA #mindblown pic.twitter.com/NryTKovJuU— Kobe Bryant (@kobebryant) September 2, 2017ADVERTISEMENT Trump signs bills in support of Hong Kong protesters MOST READ NATO’s aging eye in the sky to get a last overhaul Celebrity chef Gary Rhodes dies at 59 with wife by his side Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Robredo should’ve resigned as drug czar after lack of trust issue – Panelo Don’t miss out on the latest news and information. Celebrity chef Gary Rhodes dies at 59 with wife by his side Aside from being one of the most spectacular basketball players to ever lace up a pair of sneakers, Kobe Bryant is a man of many talents.ADVERTISEMENT Since his retirement from the game last year, fans have learned more about his many hidden passions aside from putting the ball in a hoop—including his gift for poetry.The Los Angeles Lakers legend recited his ”Dear Basketball” poem, alongside legendary conductor John Williams and the Los Angeles Philharmonic Orchestra at the Hollywood Bowl over the weekend.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games openingThe one-time league MVP penned the heartfelt piece on The Player’s Tribune in 2015-2016 season, to announce that he’ll be walking away from the sport.Bryant’s emotional words echoed throughout the packed hall, as an animated short of his storied career played on a big screen overlooking the stage. Lyceum stays unbeaten, cruises to 10th straight win Hotel says PH coach apologized for ‘kikiam for breakfast’ claim Sports Related Videospowered by AdSparcRead Next Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Williams, meanwhile, is responsible for a slew of the most popular music in cinema history, including music for classics like “Jaws”, “Jurassic Park,” “E.T. the Extra-Terrestial” and the iconic “Imperial March” from the “Star Wars” franchise. /raRELATED STORY:Nike responds to Kobe Bryant’s letter to game of basketball Lacson: SEA Games fund put in foundation like ‘Napoles case’last_img read more