One of the biggest mistakes small business owners make is focusing on price and not on value. They do it when working out how much to charge for the goods or services they provide, but also when they are sourcing support for their businesses.
Why is it a mistake?
Price does not always equate with value and cheap does not mean better.
How often have you heard of people buying articles from overseas only to have to rewrite them, or pay to have someone else do it? What about the business owners who bought backlinks to their websites so they could boost their page rank, only to be slapped in the recent changes to Google’s algorithms? They all lost money but more importantly, they lost time and took their businesses’ backwards.
Just because something is cheap it does not mean it’s good for you or that it will do the job you want done.
I have learnt that the only way to grow your business is to invest time, money and energy into it, and take the organic and authentic path forward.
- What experience does the supplier have?
- What other businesses has he or she worked with?
- What do you get for your money?
- What time frames can he or she offer?
Recently my client sacked her Personal Assistant and hired me even though my price was higher. On the surface it looks like a bad business decision but what she found was that I completed the work in less time than it took the PA and I achieved better results. My client ended up by paying no more than she had paid her PA but had a significantly better outcome which made her money.
Price does not always equate with value. Look at the results you need to get and find the person who can deliver. That’s value for you.