How to avoid the kiss of death…
If you make these two mistakes in your business then you’re most likely on the fast track to fitness failure.
Here’s what I mean.
Most entrepreneurs are trail blazers, they’re risk takers and they thrive on out-of-the-box thinking.
You’re probably one of them – and it’s an awesome thing to be because with big risk comes big reward.
But then there’s the dark side of being an entrepreneur.
The “dark side” of entrepreneurship is called desperation.
Desperation typically kicks in when you have nothing unique, special or of value to offer the market place and so you do the two things that are most counter-intuitive to the entrepreneurial spirit.
1. You become a copycat
2. You devalue yourself by dropping prices
Here’s the problem with this desperate way of doing business.
First, people can always (instinctively) tell when YOU ARE DESPERATE. No one wants to do business with desperate people.
See, the market place already knows who the EXPERT for that product or service is.
They can smell desperation and no matter how much you copy your most successful competitor or lower your prices – your competitor will always dominate.
Plus, the only thing that dropping your price will attract is the WRONG kind of client. The kind you don’t want to do business with, the kind that are a pain in the butt to deal with.
That’s why desperate businesses fail all the time.
Burger King will always be in McDonalds’ shadow.
Seattle’s Best will always be in Starbucks shadow.
Gateway will always be in Dell’s shadow.
Pepsi will always be in Coke’s shadow.
These organizations need to offer something unique, special and of greater value in order to break free.
Being a copycat and devaluing yourself by dropping prices is the ultimate sign of desperation and the biggest mistake you can ever make.
Here’s how to avoid desperate business practices…
Grab a pen and paper and write down these two questions, and then answer them in detail…
1. Who is my market?
2. What unique, special, and high value service do they want?
And then build your business, prices and marketing around your answers.
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