Show Page Content

Guest Blog Posts

We found 2 results with the tag Business.

Never Ask for My Budget

"Whats your budget?" Is there a more invasive (even rude!) question that someone you don't really know can ever ask you about your business? If you're genuine about caring for your customers, never ask someone for their budget. After all isn't that just like saying “what's in your bank account". I even feel it's equivalent to asking "how much of your money can I get from you", often without saying what is given in return.   It's a very rude question to ask! Once the 'off the cuff' amount is revealed, it's set the scene, & miraculously the price they propose is always around the same or more! The incentive to be transparant is overshadowed by the very real fear of being taken advantage of.   Why should we tell anyone our budget? But why should we reveal our bank balance? After all who is supplying who? Surely the supplier should know their prices, & not make them up based on the figure someone without industry knowledge happens to mention. It's like some very poorly designed game show! As a client, do you want to reveal (often to a relative stranger) your worst case maximum limit of how much you can justify missing your bank balance?   Do you make others feel uneasy? As a supplier, do you want your prospects to feel uneasy & potentially exploited? Is it 'Fair game' to take advantage of others like this? Personally, I think not. For the sake of building a relationship based on honesty & transparency, let's help unearth a better way.   Rooted in Outdated Sales Strategies, it's time to change! “What’s your Budget” is perhaps one of the worst, most invasive business questions that any supplier can ask. It's selfish, and not focused on the customer's best interests. It may not seem like it, but its roots are from a tactic derived in the 1980's on aggressive covert sales strategies, designed to force a prospect into a corner. Sadly, to those that recognise this approach, it also creates an adverse reaction in our minds, especially the vast majority of us that don’t have money to just burn. Make no mistake, I get why some suppliers that don't know any better ask this impolite question. But that doesn't make it alright. You want to make sure that your time isn't being wasted. I get that. But surely there are far more polite ways to do business. Just because there is a maximum pot of money that could be used if necessary to cover a task does not mean that you want to allocate it all. Asking this question, in an attempt to information gather, & hook the listener is a classic tactic to win sales. It helps force a prospect to come up with a figure. It forces them to make a verbal promise which they are then obliged to stick to, or appears as a liar. It forces the prospect to open up & provide potentially sensitive and confidential information, forcing the supplier bare all, thinking they are obliged to do so, without the inquisitor revealing anything. It generally also becomes the quote that the company says it will cost, as if by magic. Surely that's a poor reward for a prospect being honest. Sure, it may help the business to get an idea of whether a prospect is in the right ball park for a product or service, but if the prospect disclose that their budget is twice more than a supplier normally charges, how many suppliers would use this to steer their quote. Why should a supplier minimise their quote when a generous budget appears to be available?   Why should someone guess your price? Asking someone without experience for a budget is like asking them for lottery numbers. Purely random. How would they honestly know what is the right amount to say other than to reveal their private bank balance? Without specialist knowledge or past experience, how would any prospect actually know what is reasonable, or have any idea of what may vary the price between one supplier & another? How would they know how much a company is charging per hour, or whether the prixing is based on the perceived value to a customer in how much it is worth paying to not have that problem. Most prospects don't have a clue, so those that give price indications create trust. Those that ask propsects to guess, take it away. After all, why should any prospect be made to guess a price? I certainly wouldn't expect to go into a supermarket and have to guess the price of my shopping, or to go in with £200 and ask them what the supermarket will give you for it. So why should any prospect be expected to for things that are not necessarily their expertise? Besides, how important is an hourly rate, with no indication of speed and efficiency? Admit it or not, price is a factor for most people, even if it’s not always the most important one. In the Western World, we wouldn’t dream of going into a shop & be happy with being asked how much their products are worth to us, & charged accordingly. It's not some back-street market stall in Morocco, with opportunistic pricing followed by aggressive haggling. The Better Way But how does a business create a trustworthy relationship with a prospect who doesn't understand the supplier's industry? The answer is simple. Results. If I know that a set amount will get me set results, or at least a high probability of this, then I know what I'm playing with. If a supplier has a portfolio of past examples with an indicative price of what it would cost them today, it becomes easy to quantify the results that a certain level of investment can bring. Put this portfolio on your website, or in a brochure, & simply direct people to it. No effort. No loss. Just good practice. The answer, put more simply is for a supplier to ask a prospect "What results do you want". Those results set the bar for expectation, and work can be priced accordingly. If prices are realistic, the results are what they want, and they genuinely have the freedom to select who they wish to work with, then they will choose the ones they can imagine themselves best working with. Simple. Asking what results the prospect wants puts the prospect back in the 'decision making' driving seat, rather than in a defensive one. There is no down-side, & no mention of budget to make people feel vulnerable to abuse. So if someone asks you what is your budget, perhaps it's time for a new response. Ask what results they want. If you can, show them a costed portfolio. Set expectations quickly, for everyone's sake. After all, with so many competitor options, don’t you want to work with thoses who are looking to protect your back, & not try taking the shirt from it?

How Charities and Local Businesses are Adapting and Evolving

At this difficult time, we all need to do our bit. Charities are struggling to get enough funds to support their cause. Similarly many small local businesses slowly watch their businesses close. For those able to weather the storm, either with or without receiving government help, the best thing is to prepare for the end of the lockdown. For others, this is a time to share what they do. One company offering those in need is ICE SmartBands, who are giving away medical alert bracelets to help the vulnerable and those on the front line. For other companies, this period is a chance to do what they can, and share what they do. If you know any businesses offering help, or any charities needing help, contact us, so we can help share their journey.   Aurora has a Deals platform (Deals for Donations) to aid local businesses, with a free (no obligation) business & charity directory. Businesses can use the platform to help people know that they exist, know where they are, let them know what they, both during & after this Corona Crisis. For registered charities, it is a chance to help people understand what benefits they bring, and how donations are translated into real life benefits. The key is tangibility. For example, give £10 to 'Save the Penguin', & save 3 penguins. Simple. Relatable. Demonstrable.   If you run a business or charity, register now. It's quick, simple, & easy! Better still, we don't charge a penny! Free advertising. No costs. No obligations!   The portal is designed to offer a wide range of additional benefits to registered businesses & charities. Registration is a simple 3 step process. For full instructions click here Step 1 is to fill out the form. (Step 2 = check your email & verify your email address, + Step 3 = visit the site to complete your charity or business profile). Name Contact Email Organisation Name Charity NGO Club Partner Start the process today! The sooner you register, the sooner you can be seen!

Search
Subscribe For Updates
Share This Page On

Save Your Location

Please wait ...