Sales

by Behzad on Sales

Pricing

There are four ways to support a price on something of value:

  1. replacement cost: “How much would it cost to replace?”
  2. market comparison: “How much are other things like this selling for?”
  3. discounted cash flow/net present value: “How much is it worth if it can bring in money over time?”
  4. value comparison: “Who is this particularly valuable to?”

Value Comparison is typically the optimal way to price your offer, since the value of an offer to a specific group can be quite high, resulting in a much better price.

Reference: http://sivers.org/book/PersonalMBA

 
by Behzad on Communication, Sales, Uncategorized

Hidden Psychology Of Why Customers Come Back

Apply these 3 simple technique to get more customers:

  1. Labor = Love (Ikea Effect): the more time or work we put into something, the more valuable it becomes for us
  2. Consistency counts (turn the small sign to the big sign): it is much easier to use the past behaviour and previous experiences into something bigger rather than having a big ask upfront
  3. We avoid cognitive dissonance (Aesop’s Fable – Fox and grape hanging from the vine): if it is too hard to reach, it must be bad and we don’t like it

Source: http://techcrunch.com/2015/01/19/the-hidden-psychology-of-why-customers-come-back/

 
by Behzad on Sales

Interview a Client

In the nutshell, there are 3 phases:

  • Problem: figure out what their real problem is, not just your assumptions
  • Solutions: figure out how they are solving that problem today
  • Minimum Viable Product: show them product that is 10 times better, faster and/or cheaper
 
by Behzad on Business Model, Sales

Manipulate The Law of Supply and Demand

A great article by Niel Patel

  1. Positioning Yourself as a Rare Commodity
  2. Gain Control Over Supply
    1. Your Schedule
    2. Your Position
  3. Manufacture Demand
    1. Begin with Evangelists
    2. Tell Them What to Share
    3. Plant Seeds
    4. Water the Seeds
    5. Allow the Seeds to Germinate
  4. Never forget Lesson #1

Source: http://www.quicksprout.com/2012/08/16/how-to-manipulate-the-law-of-supply-and-demandand-make-a-lot-more-money/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Quicksprout+%28Quick+Sprout%29

 
by Behzad on Business Model, Marketing, Sales, Uncategorized

Basic Laws of Supply and Demand

Supply and Demand:

P – price
Q – quantity of good
S – supply
D – demand

The four basic laws of supply and demand are:

  • If demand increases and supply remains unchanged, then it leads to higher equilibrium price and higher quantity.
  • If demand decreases and supply remains unchanged, then it leads to lower equilibrium price and lower quantity.
  • If supply increases and demand remains unchanged, then it leads to lower equilibrium price and higher quantity.
  • If supply decreases and demand remains unchanged, then it leads to higher equilibrium price and lower quantity.

Source: http://www.quicksprout.com/2012/08/16/how-to-manipulate-the-law-of-supply-and-demandand-make-a-lot-more-money/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Quicksprout+%28Quick+Sprout%29