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Deliver on Price

Today, customers have different expectations. They had to expect steep prices to get top quality at breakneck speed. For top quality at low prices, they expected long waits. And if they wanted delivery fast and cheap, they expected to compromise quality. They want and are used to receiving price, quality and speed.

So to become a successful entrepreneur you should deliver on Price, Quality and Speed to keep customer happy. Many vendors will promise all three and only deliver one. Most of the time vendors aim to provide all three, only to find that competitors and customer requests prevent it. To try and ignore the rules may be dangerous to your programs. No low quality shop can offer the high end services of a high quality shop so they have no choice but to be cheaper.

Speed, Quality and Price is no longer an impossible triangle
The rule states that a builder can offer customers two out of three of the following, but not more:  speed, quality, and price.

  • You can have good quality delivered in a short time, but it will cost you a lot more
  • You can have quick delivery and a good price, but your quality will suffer
  • You can have good quality for a good price, but it will take a long time too.

Be Great at something and Good at Everything
Customers expect your business to offer quality at good prices with prompt service, but they don't expect you to be the market leader on all three fronts. Be sure your performance is decidedly better than your competitors in one of the three areas, and strong enough to be competitive in the other two. Rate how well your business competes on price, quality and speed.

Strengthen Your Strongest Suit
Customers decide where to go for services, products, or whatever else they're ready to buy based on how well they believe businesses will address their wants and needs. If they are not sure what your business does well, they will opt for a competitor they trust to give them what they want. Determine, improve and promote your strongest competitive advantage.

  • If you have the best prices, protect your position and promote your prices like crazy in order to build the sales volume necessary to offset the lower margins that price leaders generate.
  • If you are known for superior quality of products, service, expertise, convenience, business setting, or overall reputation you will maintain your edge only by constantly getting better at what you're already best at.

Face your Weaknesses and overcome on it.
To grow your business, you have to attract customers who may currently think you don't offer what they want and value. Learn why customers are not choosing your business. What do they want that they think you do not offer? If their impressions are wrong, help them see you differently.

No, business needs Speed and Quality. Price is the invisible hand. It’s the one factor that one person cannot arbitrarily control. But you have control of the other two. And when you can do a great job when the client needs it, the money will be there.

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