If so…

…should they be?

If I had a nickel for every time a business owner told me that he or she needed to be competitive, I’d need a vault larger than Fort Knox to house them.  Should ‘being competitive’ be a goal?

Not according to Richard ‘Mack’ Machowicz.  In his book, Unleash the Warrior Within, this former Navy Seal says “We (Navy Seals) don’t train to fight, we train to win.”

Applying that concept to business, pricing to be competitive is the equivalent of training to fight. Creating exceptional value (buyers’ perception) and charging premium prices for that value is training to win.

It’s counter-intuitive, but choosing to be competitive is choosing mediocrity.  If that satisfies your needs, stick with it.  It’s not my intent to dictate your lifestyle; that choice is yours and yours alone.

But if you’re tired of working your tail off and getting less than you desire from life, find a way to create value that buyers’ are willing to pay premium prices to get and price your offerings accordingly.  The only downside is that you can no longer claim to be competitive.

To discover how you can break the bonds of industry pricing call Dale at 314-707-3771.

Tags: counter-intuitive pricing, Pricing, pricing for profit, pricing for profitability, pricing management, pricing strategy, strategic pricing, value pricing, value-based pricing

This entry was posted on Tuesday, June 15th, 2010 at 6:00 am and is filed under Marketing, Pricing, Sales. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.