HOW MUCH IS YOUR TIME WORTH ?
Do you put a price on your business time? Do you give away free business information? A lot of customers will not hesitate in discussing business with you. Most of them don’t intentionally take up valuable time talking to get free information. However, there are customers who will talk all day getting information they can use without the benefit of paying for it.
In the course of selling your product or service; you will find yourself answering questions and selling advice. It is a fine line; selling service often time begins and ends with advice. But your time cost you money and it is always under valued when it comes to selling a service.
We all have friends, neighbors and family members that take advantage of our time and expertise. So how do you as a business owner stop giving away your expert advice and time for free? When you give advice to a potential customer does it lead to a sell?
Inadvertently, we all find ourselves in this predicament; especially in the service industry. If you are in a business you are looking for ways to decrease your cost while increasing your bottom line. “We are on a tight budget, so we’d appreciate any discount you can provide.” Does this sound familiar to you? Sometimes, we find ourselves in a situation where we are pitching a sale to new or prospective client. They might ask questions that seem intelligent and innocent, but it really is a disguised attempt at soliciting free information. In today’s economy – technical information has a great value. Business intelligence hinges on the quality of information they have about their industry and their customers. Technology changes and grows each month. Large and small businesses must stay up to date on these changes or their enterprise will suffer.
It’s important to realize that we don’t need to “give away our time and advice in order to gain a new customer. While it is important to show value and industry expertise to potential customers, it is also important to show that part of the value is that you don’t work for free. So remember the value in your business is the value you put into your business. Are you giving the impression to potential customers that you work for free?