Kim Duke

Article Summary:

What to do when you are under pressure to drop your price.

Are You Under Pressure To Drop Your Rates?

What Happens When You Are Under Pressure?
We have all been there. Cash flow is a little lean and you are really starting to hate eating Blue Box Kraft Dinner. Murphy's Law also means a potential customer will NOW call you and want you to drop your rates...right down to the bottom of the barrel. Do you do this "just once" and relieve the financial pressure? Or do you walk away?

Learn To Value Your Product And Win Customers Too!
Remember in sales - it is all about Win/Win. Your customer may be happy that you "gave away the farm" but deep down you will resent them for it. And resentment always shows itself! Plus I don't believe in doing this - you just attract more business like it! However - there are going to be times when you will consider some form of discounting. When a customer asks you for some DISCOUNTS you have to ask yourself TWO IMPORTANT questions.

1) WHY SHOULD I DO THIS?
If it is just about the money - you are actually setting yourself up for failure. In business - it must always be a great fit - between the customer and your business.

2) HOW CAN I BENEFIT FROM THIS IN THE LONG RUN?
Is this a customer you want to do further business with? Are they going to pay full price down the road after they have received the deal of the century?

Learn The Art Of Negotiation
Hey remember - a diamond is only a piece of coal that did well under pressure! If you have decided the client is a great fit, and there are opportunities for future business - then say " I would love to do this for you - however - I will require this ( fill in the blank) from you in return. ie/ If you purchase 3 or more...if you commit to 2 or more sessions...if I can send something to your database...if I can get an article in your newsletter"...and so on. Just remember you are in business, and you also have a right to make a profit.

How Do You Walk Away Gracefully?
Have you ever seen someone walk out of the bathroom with toilet paper on their shoe...or worse...someone that has tucked their skirt into their nylons? The view as they walk away isn't so great! If you have decided to turn down the business, then make sure you aren't defensive, nasty or too apologetic. Just say you would love to do business with them, however, at this time your schedule/rates won't meet their needs. Then offer some other options - give them someone to call, a website to visit etc. that shows you are a professional.

One Last Diva Tip!
Remember - you don't have to give an immediate answer. Tell the potential customer that you need to "run some numbers or to have a look at your schedule. Sleep on it - and if it doesn't feel right - then trust your gut.

Kim Duke, The Sales Diva, provides savvy, sassy sales training for women small biz owners and entrepreneurs. Kim works with clients internationally, showing them The Sales Diva secrets to success! Sign up for her saucy and smart FREE e-zine and receive her FREE Bonus Report "The 5 Biggest Sales Mistakes Women Make" at www.salesdivas.com.

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