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Small Business Consultants Honolulu HI

This page provides useful content and local businesses that can help with your search for Small Business Consultants. You will find helpful, informative articles about Small Business Consultants, including "Are You Giving Away Your Profit?". You will also find local businesses that provide the products or services that you are looking for. Please scroll down to find the local resources in Honolulu, HI that will answer all of your questions about Small Business Consultants.

Honolulu SBDC
(808) 945-1430
1833 Kalakaua Avenue Suite 400
Honolulu, HI
 
Nagata Gay R CPA
(808) 597-1448
1150 S King St Suite 1003
Honolulu, HI
 
Tudor Nancy Evans & Assoc CPAs Inc
(808) 592-2000
1150 S King St Suite 203
Honolulu, HI
 
Accessibility Planning & Consulting Inc
(808) 545-1141
1164 Bishop St
Honolulu, HI
 
Aviation Consultants Inc
(301) 565-4070
1516 Ohialoke St
Honolulu, HI
 
VR Business Brokers
(808) 597-1101
1221 Kapiolani Blvd Ph60
Honolulu, HI
 
Asia America Investment Inc
(808) 599-4192
1149 Bethel St
Honolulu, HI
 
Business Consulting Resources
(808) 545-4111
116 S Hotel St
Honolulu, HI
 
Hawaii Womens Business Center
(808) 526-1001
1041 Nuuanu Ave Ste A
Honolulu, HI
 
Vino Mehta Associates
(925) 400-7203
2219 Piimauna Street
Honolulu, HI
 

Are You Giving Away Your Profit?

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May 18th, 2011 admin | No Comments »



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Want a quick way to destroy sales motivation and profit at the same time? Picture yourself as a sales manager who suddenly receives a phone call from a salesperson who is on the verge of closing a sale. Here’s a sample of that typical conversation:
Salesperson: “We have to cut our price to get the first order. Then, once they see what we can do for them, we will be able to raise our prices. I’m sure once they see how good our service is, I’ll be able to convince them to pay the regular price.”
Hmmm. Really? I’ll let you fill in how you feel the sales manager should respond. The sad comment is that too many times, the sales manager – after sounding tough on the telephone for 30 seconds – then gives way to the idea of lowering the price by saying something like, “Well, just this time, but we certainly can’t go making this part of our sales tactics with other customers. The only reason I’ll say ‘yes’ this time is because of how much business is at stake.”
I can’t tell you the number of times I have heard this rationalization. Sadly, what blows me away is the number of times I have heard it when somebody is trying to land a new customer – but then I never hear from these same people a year or two later expressing what the long-term results have been. Why do salespeople or sales managers never share with me the long-term outcome of such “price reduction” strategy? Because it never works out the way the salesperson or the sales manager initially believes it will.
Let’s look at this from the customer’s perspective. If you bought something at one price, don’t you think you would be able to buy it again at the same price? Sure you would. So why do you as a salesperson think that increasing the price after the initial sale is going to go smoothly?
Cutting your price to secure the initial deal only does one thing – it takes profit out of your pocket.
Many of you are thinking that this is all right, because all that is being lost is some profit on the initial sale. My experience is you’re giving up profit not only on the initial sale, but also on any future sales to come.
The reason is simple (so simple, in fact, that I can’t believe so many salespeople still think slashing price on the initial sale is a viable option). The first price the customer gets is what they believe is the
right price with the right value. If the price is higher, they believe it to be unfair.
Sales motivation takes an even greater dive when the customer is ready for the next purchase, and the salesperson begins to wander down a dangerous path. The salesperson justifies in their own mind why increasing the price is just “not the right thing to do” and will “jeopardize the long-term value of the customer.R...

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