Don’t Do It!
As businesses are “allowed” to open back up, I’m seeing similar signs. Signs that are a SIGN of desperation.
There is the temptation after a crisis to cut prices. You will even get asked by a few of your clients (not the good ones). In fact, it is a good “warning light” that they are not the best client, and they will not stay with you for the long run.
Let me ask YOU a question.
When there is rough weather ahead, should the pilot be paid less? Or more?
If you are having dangerous surgery, with life-threatening issues, should the doctor be paid less? Or more?
If a recession is looming ahead, should the advisor be paid less? Or more?
Here’s the thing: you decide.
Maybe you should RAISE your prices…
You may think that’s crazy, but price is a differentiator.
Ask Rolex. Ask Armani. Ask Ferrari. Ask Nike.
Which are you?
Whatever you do, do not discount. Don’t cut your prices during the coming recession.
You are worth more. And you will be worth more leading your clients through the Coming Economic Winter!