How to WIN being 2nd Best
Lessons from eBay
You don’t have to be the best to make money. There is always someone with half your talent making 10x more than you! I’m going to tell you how to make more money by NOT being the first choice. This is a lesson I learned from selling on eBay.
Have you ever gone to buy something you really needed on Amazon or eBay and found an incredible deal and by the time you were ready to buy, the product was SOLD OUT? At this point, because we need the product we settle for buying the next best price. What just happened? You bought the next best deal and paid MORE. I use this technique all the time to maximize my profits. When there is a product that is in great need, you never need to be the lowest priced. Let the low price products sell first and when they sell out, you’re in a position to SELL at a HIGHER PRICE!
After coaching literally thousands of photographers about pricing, I realized a photographer's insecurity can result in bad business techniques. Many photographers rather practice the ole adage “a bird in the hand is better than two in the bush”. Meaning, they rather secure jobs an entire year out and not worry about finances for a year than make more money. I get it, many of us are risk-averse but don’t most of us want to make more money if we can?
I remember the good ole days when weddings were shot on FILM! There were probably 1,000X less the number of wedding photographers and DEMAND WAS HIGH! As I started my business and even though I was less experienced than most, I would stay busy because ALL THE GREAT PHOTOGRAPHERS who priced themselves too low got booked first. So naturally, with fewer photographers on the market, people started booking me- I was the “next best value”.
If you are in the fortunate position of being IN DEMAND with your services, consider slowing your bookings by raising your rates. Embrace the “next best value” technique and wait for those eager, photographers who price themselves too low, to remove themselves from the market. As a result, your business is in a position to secure the “next best value” at even a HIGHER PRICE.
FOR A FREE MASTER CLASS or want to attend one of my workshops, or interested in mentoring, please visit www.scottrobertstudio.com