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Dan Lok Show

Why "Charge Less" is Almost Always the Wrong Advice

Dan Lok Show

Dan Lok

Careers, Management, Entrepreneurship, Business

4.8826 Ratings

🗓️ 13 May 2024

⏱️ 3 minutes

🧾️ Download transcript

Summary

Cheap Clients not only hurt you and your business, but they are also hurting themselves. But why is that? A cheap client should be happy that they got your product or service so cheap, right?


Find out in today's episode why they are actually hurting themselves as well as you. Plus, more reasons why you should avoid cheap clients.


Before you go, here's a special offer to supercharge your online business. Visit danlok.com/kajabi to try Kajabi for free and get your hands on thousands of dollars worth of bonuses.


Kajabi is the go-to platform for entrepreneurs worldwide, helping you create, market, and sell your digital products and online courses with ease. So, don't wait! Take advantage of this offer and start your online business journey today.


Until next time, keep learning, keep growing, and keep creating!

Transcript

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0:00.0

When you're charging more money, now you have profit that you can deliver better experience.

0:20.2

And because you have better, you deliver better better experience and because you have better,

0:21.2

you deliver better experience, you get better testimonials, you get best case studies,

0:25.0

and you get better case studies, you attract better high ticket clients. That becomes a positive

0:30.0

cycle versus you're talking with cheap clients. They don't appreciate you. They nickel and dime you.

0:35.3

You go the extra mile, they're still not happy. And at the end, cheap clients, they're not going to refer. Because there's not enough margin

0:44.2

for you to deliver a good experience. Does that make sense? Think about it. Even from your

0:49.8

psyche, you know, like, oh, you know what, I'm supposed to charge $5,000, but I'm charging only $3,000.

0:57.0

You are resenting the client to begin with, yes?

1:00.0

You're like, shit, I should have made more money.

1:03.0

So you are going into a relationship out of integrity, really, right?

1:08.0

Like, you're like, I'm not going do 100% because I'm not gonna pay 100%

1:11.6

and why would I even try?

1:13.6

Versus, you believe it's 5K, but they're actually paying you 10K.

1:16.6

How many of you go to the extra mile?

1:18.6

Put up your hand, right?

1:19.6

You're like, yeah, I would go to extra mile.

1:21.6

And here's the thing, when you charge more,

1:24.6

when there's room, when they need a couple of things in here,

1:27.6

you don't need to nickel and dime them.

1:29.9

They're like, ah, I'll throw that in.

1:32.6

Better experience for you, better experience for them.

...

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