Especially when starting out in business and thinking about our tariffs there is a temptation to look at what everyone else is charging their clients and then charge the same.
Recently I have been working with friends looking at forthcoming business shows with a view to taking a stand. There seems to be a fashion for many of these show organizers to start the show at around midday, run it for around five hours until tea time and charge £299 for a stand. They are all doing what everyone else is doing, down to the price of the stand itself.
This is a really lazy approach to running an event and it is a lazy approach to business. I suppose the organizers must be in business. How do they manage if they have so little imagination? They themselves are supposed to be part of the business package.
If I were running a regional business show I would provide something extra. I might run it for longer. I might run an extra attraction such as a good and popular keynote speaker. I would look to add value, make my show the one to go to; the best show of the year. And because I was having the best show in the entire region if not in the entire country I would charge a proper fee and make sure my exhibitors got real value with a brilliant turnout of visitors so that they could do more business.
It really is no good being just like the others when you have an owner-managed business, which may be small or growing due to your hard work. You need to be different and better and the more different and better you are the more your clients will appreciate you and the more your prospects will want to buy; and of course the more they will feel happy to pay you.
It is a good feeling getting value and having the best. Your clients need to have that good feeling, don’t they?