Can I give you some of my profits? Do you know that’s what you’re saying when you offer a discount to your customers? When you take a discount off of a sale price, that goes straight down to the bottom line, right out of your Net Profits. It doesn't take any detours through cost of goods or expenses. It comes straight out of your pocket.
I once worked with a salesman that HAD to offer a 10% discount on all of his proposals. It was his method of selling. At the end of our first year together, we had a modest loss in the business.
The thing was, though, that this loss equaled, almost exactly, the amount of discounts given over the year. What an eye opener! We had basically given away our profits!
So, the next time your customer starts asking for a discount, just think to yourself, “Do I want to give away my profits?”
Where Should I Go Now?
Main Blog Page
Become A Business Coach like Stuart
I once worked with a salesman that HAD to offer a 10% discount on all of his proposals. It was his method of selling. At the end of our first year together, we had a modest loss in the business.
The thing was, though, that this loss equaled, almost exactly, the amount of discounts given over the year. What an eye opener! We had basically given away our profits!
So, the next time your customer starts asking for a discount, just think to yourself, “Do I want to give away my profits?”
Where Should I Go Now?
Main Blog Page
Become A Business Coach like Stuart
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