The Small Business Big Marketing Podcast with Tim Reid 321 - How to Avoid Discounting with Tas Moulis of QPaint
It is so easy to discount, to undercut your competition to get the business. Although it's an easy strategy it is quite simply a race to the bottom. Once you have the lowest price there is nowhere left to go. Tune in this week as I chat with Tas Moulis of QPaint about how to charge full freight and see your business thrive because of it. This one's all about how to avoid discounting.
[Tweet "'How and why to avoid discounting in your business"]
In this fireside chat with Tas we cover:
- Tas's 3 effective strategies on how to avoid discounting
- Why building relationships is crucial in business
- The power of getting off the tools and focussing on what's going to generate the big bucks
- Some serious business courage
PLUS I head back to last week's interview with Orange Sky Laundry and my night out onsite with them. I capture a bit of a chat I had with Matt, one of Orange Sky's brilliant volunteers and Herb one of Orange Sky's homeless friends.
Herb is one seriously beautiful human being. The first thing he did was give me two tickets to the footy as he had 4 bags with all his possessions in them that he wouldn't be allowed to bring into the ground. Here are 4 powerful lessons Herb taught me during our chat:
- There’s always someone worse off than you.
- Be grateful for what you have.
- And you don’t need much to be happy.
Plenty of marketing gold in today's episode. Enjoy!
EPISODE TIMELINE
01:30 Welcome & overview
02:47 Today’s guest introduction - Tas Moulis of QPaint
03:44 Interview with Tas Moulis - Part 1
38:13 My top 3 attention grabbers from my chat with Tas Moulis
40:33 Insights in to WebCentral & Designcrowd
42:45 Interviews with Matt & Herb from my night on the road with Orange Sky Laundry
59:20 Wrap-up and insights in to next week’s guest
EPISODE SPONSORS
WebCentral
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Designcrowd.com - Save up to $100 on your first design.
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RESOURCES & LINKS MENTIONED
Tas's official website
Episode 305 with Kelly Baker-Jamieson from Edible Blooms about online retail marketing
Episode 205 with Josh Nicholls from Platinum Electrical on creating raving fans
Buy Timbo’s new marketing book The Boomerang Effect
MY TOP 3 MARKETING ATTENTION GRABBERS FROM THIS EPISODE
- Acknowledge that discounting really is a race to the bottom. In particular, avoid discounting with new clients - this sets a precedent that will be hard to break. Instead, work hard at ensuring they see massive value in you and what you offer. I talk about this extensively in The Boomerang Effect.
- Actively look for a problem and fix it. This idea is so beautifully counter-intuitive, but it works. Look at this idea as if you were a customer. How cool would it be for a business you’re dealing with to bring a problem to your attention, and then tell you it’s been fixed. Such a great way to build trust.
- I found Tas’s tough decisions inspiring:
He refuses to discount, when a simple 10% off could secure the job.
He chose to stop painting (something he was very good at), and focus on the high-value activities like quoting, which quadrupled his business.
He sacked clients that made him and his staff miserable; and identified 4 types of clients he did want to work with. Go back to episode 183 with Dentist Paddy Lund who also did this with great success. He is gutsy enough to ask (and answer) the question “Where are we really at?”
OVER TO YOU …
What was your biggest marketing learning or ah-ha moment from this episode?
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