If you find yourself thinking this is overpriced when selling a product or service you may be suffering from money values. What are money values? They are the little voice that was put in your head when you were just a little bitty and is still reminding you today of those lessons now that you are a big bitty.
Money doesn’t grow on trees. Save it for a rainy day. I am not made of money! A penny saved is a penny earned. Don’t buy unless it’s on sale. How many of these phrases did you hear growing up? These are the lessons that stick with us long after childhood and help to shape our money values.
While this wisdom was meant to help us, sometimes it can interfere with our daily lives. If you find yourself struggling to sell something or re-directing customers to the lower priced option, you are most likely selling price, not value. Selling on price is a deal breaker in sales.
Value and Price
Value is determined only by the buyer. Let me repeat this because it bears repeating- The buyer is the only one who can determine the value of goods or services. This means your opinion is just that- yours. If you ask the right questions and learn what is important to the buyer selling value becomes more important in your mind as well as theirs.
A Form of Trade
We used to trade in furs and spices, now we use a different form of currency. The point is money is just a form of trade. We give something of value in exchange for something else we find value in. When you break it down to its simplest form money loses some of its perceived emotional value.
Take some time for introspection the next time you find yourself selling on the price. Is it too expensive? Or is the problem the buyer does not believe the value is balanced with the cost? Listen and learn what’s important to the buyer and concentrate on meeting their needs, keep that voice inside you silent and let their money values dictate what they feel is the defined value.
Hope this helps you if you struggle with money values.
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