I was talking to a client about discounts. Nothing wrong with discounts you would say. People love discounts. It makes them feel like they can get something better than they can afford for they price they can afford. It makes people feel smarter than the people who pay full price. People just generally feel good about getting a discount, so why not use it in your business and make your clients and customers feel good about buying from you.
As long as you have calculated the discount into your prices that is, because then you will still make a profit after someone asks for a discount or when you offer it to them. That’s how all the big companies work. They up their prices so they can offer you a discount.
I bought a new kitchen last year and after the initial offer of $ 45.000,- the salesman quickly offered me a discount of $ 10.000,- I thought ‘seriously, why would you even mention the first price if you offer that much discount without me even asking?’ And in the end I got the kitchen for $ 28.500,- Which felt like a good price for it, but it kept me wondering about this whole ‘discount thing’.
Because what happens if you don’t calculate a discount into your initial price and someone asks for a discount? Do you refuse or do your settle for a smaller profit?
And WTF is happening when you find yourself offering a discount to a customer that didn’t ask for a discount AND you didn’t calculate it in?
You do want to make a profit right?
That’s what happened to my client and it really left her wondering how this could happen. Why would she sabotage herself like this?
And I see this with a lot of new business owners, which usually leads back to one of these things:
1. They have great ideas and get really excited when someone wants to buy their stuff, work with them and so on. And then they forget that they are in business to make money. They want to help people but forget about themselves. They don’t realize that in order to keep their business going and growing they need to make money. They can’t help people, sell their amazing stuff, show of their art when they go bankrupt.
2. They reach an upper limit problem, e.g. they don’t feel they deserve to make a lot of money,
3. They don’t believe it is easy to make money
4. They don’t 100% believe in the value of the stuff they are selling (something I see with a lot of MLM people)
It’s all about mindset!
My own business mentor says ‘business is 90% mindset and 10% strategy… and the strategy is mindset’.
So being aware of your own limiting beliefs is key to get your business to the next level.
Do you have trouble meeting your goals because you find yourself offering discounts or constantly giving people extras or you have clients asking for refunds, or your clients cancel their appointments with you or not pay you in time and so on.
I love helping my clients see and work through their limiting beliefs and upper limits. Me being ‘outside of the box’ makes it easier to see the problem for what it is and come up with the possibilities and mindset strategies to work through them.
Do you need help growing your business?
Contact me for more information about my one-on-one business coaching possibilities. One month of full access to me and personal advise for your business. I’m excited to get you to your next goal.