First, I think I owe you an apology.
Bear with me, because it’s a bit involved.
You see, I’ve assumed you actually want to make more money, yet I know from my own experience it isn’t necessarily so.
And I say this with some confidence, because as surprising as it might seem, I often speak with Recruitment and Search Firm Owners who are happy with the way their business is currently performing and have no real desire to achieve more…
There’s nothing wrong if you feel that way… It’s just reading my blog will be a waste of time…
But assuming you do actually want to get better results in your Recruitment or Search business, you do want to attract more clients and you do want to generate more money… Here’s something you can do right now and get almost instant results…
Raise Your Prices!
As Recruitment and Search business owners there are so many things to worry about.
You’ve got your current clients…
New clients….
Your team…
The list is endless…
But pricing is often way, way down that list!
Which is a shame, because getting paid more for what you do is the quickest and easiest way to increase your profits…
And it takes nothing more than a bit of backbone next time you speak to a prospective client to make it happen!
So you could go away and do it right now. If you really wanted to!
But even though raising your prices is the quickest and easiest way to add profits to your business. Most Recruitment and Search Firm Owners don’t have the guts to do it… And it’s usually because of one of three reasons…
1. They believe that potential clients are making their buying decision based primarily on price.
This is a big fat lie…
I’m not saying that price doesn’t come into account when your potential clients are buying your Services, but if we all made our buying decisions based PRIMARILY on price and price alone…
We’d all be driving around in the cheapest cars….
We’d be wearing the cheapest clothes…
We’d be taking our families on the cheapest holidays…
We would never eat out, because eating in is much cheaper… And even if we did eat out, we’d eat out in the cheapest, grubbiest restaurants we could find…
We know this isn’t true and the same rules apply to your business!
2. They believe that if you’re priced higher than your competitors you give them the edge.
This isn’t true either…
In fact… In some cases, raising your prices can actually eliminate your competitors because you’ll be targeting a different clientele…
Do you think Prada or any of the luxury brands have to compete with your local discount stores?
Of course they don’t! Because as we recently discovered, not everyone buys based primarily on price.
And on top of that, there are a percentage of people that will always seek out the most expensive thing. And won’t buy if something seems too cheap!
And it’s more common than you might think because as a species, us humans have a general perception that expensive equals the best… So in some cases, if you’re cheaper than your competitor, you actually give them the edge.
So not only are they stealing your business… They’ll be getting paid more for it as well!
Something to think about next time you consider a price drop.
3. They believe you can’t raise prices without losing business.
Another huge myth… Granted, it may not be easy to raise your prices without losing business… But there is a way!
It’s something I’ve seen Recruitment and Search Firm Owners do time and time again with great success… But there is a certain methodology to follow to make sure it happens…
Terry Edwards
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