You can stop chasing the bottom now. You found it.
You can’t afford to cut your price anymore. You can’t afford to make a less money than you’re making now. You already can’t afford to deliver and execute on the promises you made. You don’t have the necessary profit.
You found the bottom. This is it.
What about your competitors? They found the bottom, too. Since you’ve matched their prices, they think you’re the one selling price. They’re waiting for you to stop selling price and start selling value again so they can feel comfortable competing against you on value.
But someone has to be brave enough to go first. Someone has to take the first step and begin moving things in another direction. Someone is going to learn to justify their prices and prove that a greater investment provides a greater return. The sales organization that’s able to do this is going to not only win their client’s business, they’re going to retain their business for a long time because they’ll finally have the profit they need to deliver results.
The sales organizations that continue to chase the bottom will eventually discover they’ve gone way past the bottom; they’re unprofitable, they’ve destroyed their business model, and perhaps their business with it. The sales people that continue to chase the bottom will discover that they’ve damaged the relationships they had with their clients, they weren’t able to execute, and they’ve destroyed their reputations.
It’s time to turn this thing around. Someone has to go first. Be brave. That someone is you.
Read my friend Don’s story here.
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