Do you bill clients what you’re worth? When a prospective client asks for a lower price, are you willing to say no?
Based on the number of RPLS.com posts on this subject, pricing for services is a common problem, especially in today’s challenging economy. But I recently spoke with a small business owner who doesn’t waste time thinking about what other firms are charging or what price clients might be willing to pay. He doesn’t haggle or negotiate. Instead, he sets his fee based on the value he believes he provides, and he only works with clients who are willing to pay that fee. His business has been successful.
His secret? He’s always on the cutting edge. As a specialist in laser scanning and modeling, he doesn’t have room to fall behind. He’s an expert in his field, and he’s constantly seeking ways to implement the next new technology that will keep him efficient and make his work more valuable to his clients.
Not everyone can operate in a niche business, and being a market leader often requires taking risks that some companies simply can’t afford. But value and creativity are key components in any successful business strategy. How does your firm measure up?
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Please share your comments below.
Christine Grahl pobeditor@bnpmedia.com Christine Grahl is the editor of POB magazine. She can be reached at 248.366.6981.
Title: I've heard it before. By: Mike Posted: November 12, 2009 1:22 PM
Years ago when POB was much thicker "field to finish" was the rage of the age. The firms who were doing field to finish were the leaders and experts in surveying. When scanning becomes more prevalent and everyone has one it will become as cut throat as anything else.
Title: You're absolutely right By: Kristi Posted: November 13, 2009 6:39 AM
You're absolutely right, Mike. And therein lies the challenge. A business owner who wants to remain successful has to be constantly on the lookout for the next technology and the next trend that will keep his or her business efficient and competitive. That doesn't necessarily mean jumping on the bandwagon and buying every new technology that comes along. Some firms address the changes by aggressively networking and partnering with other firms. Others strategically hone their skills in one or two highly specialized areas so that they can be the experts in those areas while everyone else follows the crowd. But once you've entered the race, you can't stop running and you can't look back or you risk falling behind. There is little room for mediocrity in today's business world.
Title: I agree By: Mike Posted: November 13, 2009 3:39 PM
I agree with you 100% Kristi. I have a $140,000 contract on my desk for a new piece of equipment. Unfortunately it's not surveying equipment.
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By: Mike
Posted: November 12, 2009 1:22 PM
By: Kristi
Posted: November 13, 2009 6:39 AM
By: Mike
Posted: November 13, 2009 3:39 PM