What Is Your Price?

I always wonder how premium brands sell yet they do not advertise neither are they cheaply priced. For instance, how many have seen an ad on television for Ferrari? But Toyota and other Japanese brands are a permanent resident on our screens. And how comes Ferrari turnovers are higher than Toyota Corporations? Or Apple being much more appealing to sell than let us say Nokia phones?

I bumped onto this analogy online as i was browsing, and i copy paste here for illustration purposes:

A friend once went to promote an new soft drink in a rich kids school. The drink was going for 10 bob (promotional offer) while Coca Cola was going for Sh. 40.

He realized very few were buying the soft drink at Sh. 10 and they were all flocking on Coke’s stand.

He quickly changed the pricing from Sh. 10 to Sh. 60 and the tables turned. People started buying the drink even more.

When sending bids, note that rich clients may NEVER even check your bid if you price too low. If a client is looking to pay someone Sh. 20 per 500 words. High chances are that he won’t even check the Sh. 2 – Sh. 10 bids. He’ll consider them desperate.

Therefore, NEVER bid too low for projects in bidding sites. Always check the client’s budget and bid either at their price or slightly lower. I’ve seen that even bidding slightly higher can work wonders. Aim to get to at least Sh. 10 per 500 words as soon as possible.

Are you surprised as i am? Yeah, i am sure you are. We expected that the cheaply priced items and bids would have a higher number of users than the premium priced but then, practically speaking, it is the premium priced ones that outdid the cheaper ones.

The secret herein lies:

People never buy the product for what it is. They buy the motivation behind the product. What touches the human soul of the potential buyer is what moved the producer to produce to manufacture the final product. That is what makes them buy. If it was pricing, we would be seeing the cheap products’ turnovers being much more than the cheaply priced ones. How then does Apple, premium priced as it selling more than Nokia, which is cheaper? The motivation for the manufacture of course!

In the same vein, we always reach a point that desperation make us to just accept what life brings our way. I always get so many inbox messages from people looking for jobs and when i ask them which job they desire to linked to, all they would answer is ‘any job’! And i tell them off that there is no job titled “any job”. You must know what you want and be psyched to go for it. That is what one who has a vision and is principled carries himself. Now worse off, are those who when they go for interviews, they quote a low amount of cash as monthly pay. What the interviewers see is that you are desperate and you have no intrinsic value attached to your skills.

I remember when i got employed, i had a perfect career development plan. That in five years, i should be made manager from being a graduate clerk. And yeah, i exceeded my expectations and was promoted in two years to be assistant manager and two years later, a unit manager. When i landed into my new position, i set a target to work and if am to move, my new employer had to add a specific amount of cash on my monthly pay if successful in convincing me to. I achieved that. And since the game was sweeter by the day, i purposed that my next employer would have to double my pay on poaching me out of there. And yes, when the time came a year later, they did exactly that. And how did i achieve all this? By building a track record and using it to sell to those who needed my skills and services.

Clients pay for quality. If you know you have something worth being paid for, do not undervalue it. Because the price you attach to a product or skills speaks much about the motivation behind the service or commodity you are selling.

So, what is your price? Let it reflect the worth of your WHY.
The writer is an acclaimed business author of Passionpreneurship Demystified and Business Networking: How To maximize on your contacts for Business and Professional Growth. He is also a Personal Branding and Business Coach with PBL Africa. In case you need assistance to give your business or profession a jump-start, he can be reached via the following contacts:
Email:                              pblogix@gmail.com

LinkedIn:                         https://www.linkedin.com/in/mike-okinda-9652b210a

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Dear Graduant…

Dear Graduant,

I believe you are fine. Nay, overjoyed.

Earning that colourful emblazzoned and embossed piece of paper is no mean feat. Especially if you went to a public university, you will appreciate that eventually you have earned your sweat! Congratulations. 

I also believe it befits you to be addressed as a graduant. Reason being that you have eventually transitioned from being a student to a full citizen, fully responsible to yourself. So forget reliance on handoits and pocket money. In short, am implying that henceforth your life will be forged and determined by the decisions you will make or take. 

However, i would opine that you shouldn’t be overjoyed. Note that am not a sadist. Am a realist. What that paper with your name and the four or five years’ work that you put in to earn it means is that you now have your destiny in your hands. 

First and foremost, having that diploma or degree does not guarantee you express success in life. Its akin to a curse. Many have left that institution and others of a similar nature, and they are still walking the streets of the city looking for jobs. The worst is if you are a first class honours (halleluhya) graduant. Rather than command respect among employers, you will be seen as an academic giant with no real competencies. Be ye warned!
Secondly, as aforementioned, the paper qualification does not translate to outright employability. I want to believe you were not among those who laughed at those students who involved themselves in co-curricular activities. The ideal world needs your academic skills. The real world out here needs your competencies, skills, abilities and agilities. It means you have to be all rounded to fit! Woe unto you if all you did was dwell in the library!

In addition, the world out here is cruel. It does not empathise with the fact that you are a new graduate. What i mean is, do yourself a favour. Check the Friday newspaper editions in the ‘Jobs’ section and see the requirements for any of the advertised positions. There is what employers call ‘experience’. Now, i know that send chills….yeah, you need to have it. Never mind you are out of college, fresh and springy!! 😉

But wait a minute. Did i see you parade yourself in the local shopping centre wearing that gown you hired before the graduation ceremony? It is really inspiring, especially to the younger ones! The glory of the flowing robe follows you like a shadow. But please know you will return it before the expiry of the due date of return….hence know it isn’t yours! It never has been anyway! 😀

Nonetheless, allow i let you in on a secret: did your lecturers tell you how marketable your course was, especially in your first year at university? You may deny it, but i can picture you seated on that arm-chair tabled seat in the lecture room, seeing yourself basking in glory once you are graduated! As i said, what you held on that graduation day is a paper. And whatever you studied,may as well be that – studies, never to be applied anywhere! I know am scaring you to the bone….but thats a fact. Either whatever you read in university is out of place in today’s society or , it may be bypassed with time. Sorry to note, probably you studied history for a career, or stuff yet to be invented in our society.  Just understand that university institutioms are in the business of making money. 

Finally, noting that i have penned more than 500 words to you, i wish to advice you to always, always be professional in your communications. Ever heard that a hole the eye of a needle can sink a ship? Yeah, ensure all your CVs and cover letters are correct grammatically and you cross all t’s and dot the i’s. 
So please, return the gown, stop the party, and welcome to the real world, graduant! 

Yours Truly,

Michael the Passionpreneur.