F2 Weekly #95 | Know your value
The regard that something is held to deserve; the importance, worth, or usefulness of something.
We all have different perceptions ? of the value that the things around us have.
What’s valuable to us also isn’t straightforward or static.? It changes with time and with the context we are in a particular moment.
Only by knowing what is our product’s or service’s unique value in their particular market and among its potential customers in that moment, ☝️ can we successfully and adequately “trade it”.
Value also isn’t something equal to price, ? but ideally these two are correlated. The bigger the value, the higher the price. ?
There are occasions though on which you should consider lowering the price tag ⏬ – for example in case it’s your first client, or a particular moment in the growth of your company where it might make sense. But even in these special cases you should be clear about your products value ? and explain that you are giving a particular discount due to special circumstances.
But there are occasions where you shouldn’t lower it, even if you could. ?Demonstrate and educate people about your (product’s) value instead of underestimating it. ?
Justify the price and outcomes, and ask for what you deserve. ?
Remember if you have the value, then you’re in position to bargain. ?