An experience this morning … a “firefly” really. Showed up unexpectedly. A great friend offered his premiere, 4th Row seats, behind home plate at a Braves game. I’m a baseball aficionado … the guy going with me? He’s become a b’ball nut! Seats were pricey. My friend texted me, “Price … $515.” He meant $515 for both tickets. Not $515 per ticket. I misunderstood and immediately Venmoed him … $1030.00!! He immediately sent back $515. Made me think. Why was I so willing to pay twice the price for these tickets? Then it came to me. An axiom I have referred to for years while coaching.
Always establish your value,
Before you quote your price.
The value of two premier tickets to this game? Coupled with exclusive valet parking; a gourmet buffet before game time! Simply, blinded me to the cost. I was willing to pay double, maybe more for this experience. The value was clear, motivating! The price really didn’t matter. Value was established … whatever the price was.
Working with business leaders, managers, salespeople. Anyone really. The axiom is universally true. “Value before price.” We are impatient. Salespeople always get trapped by the prospect who pushes early in a sales conversation, “Ok, what’s your price?” The classic mistake? Quoting price before establishing the value of their product or service.
See the guy above?
He’s asking his team to strive to achieve exceptional results. But they fall short. Sure, his team can be well paid. But what’s the purpose here. “Why” What’s the value they can contribute to the effort, the cause? But he cannot forget the longest playing radio station in America? WIIFM (What’s IN IT For Me?)
If you’re the boss. At work or at home (you think?) “Just do it! “… “Because I said so!” Forget it. Doesn’t work. Why? Because you failed to establish the value of your request, demand first. Remember … people do things for their reasons … not yours. Who is this person before you? Why would they give you full effort, commitment in response to what you want him/her to do?
Examples:
Start a new business; strive to achieve a sales goal; run a cross country race; apologize to a friend you wronged; study hard at school; stay with your spouse when you think you can’t anymore.
All these must be grounded in the “why.” First. The value to THEM … not you. The value to them if they decide to pay the price to accomplish the examples above. And so many more.
So, the next want to move another to do something for you, themselves or another person or team or group? Before acting? Pause. Think. “Why would he/she do what I’m suggesting, what I want them to do?” Establish the value to them … before you ask them to pay the price.