I graduated from college in 1982 and have been involved in the management of the businesses I’ve worked for ever since.
I now serve a company that specializes in auto transmission repair. We purposely price our service at the low end of the spectrum. People make comments about it all the time. Our competition accuses us of giving our service away.
Here’s the deal. No matter what you do for a living, do it well, take care of your mistakes in a timely manner and try to do what you do for the lowest price you can. If you do, you will have more business than you can get done.
Why do some businesses charge outrageous prices? They are not confident that they will earn enough money on the lower price to support themselves.
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I’ve heard people call that greed. I disagree. I’ve worked for many companies, owners and managers and I see what goes on between their ears and behind those beady eyes. It’s fear. It’s not greed.
Greed is what a robber has. A robber takes our stuff by force or when we’re not looking. But a business cannot take anything from us unless we authorize it to do so.
Sometimes you can negotiate a better price but the transaction is the result of two parties agreeing to do business. If consumers haven’t shopped around, it’s their own fault if they overpay.
Businesses cannot live on victims alone. They have to get referrals.
Work to get referrals.