I wonder how many of us would be willing to stand by the value we provide with our products or services by letting the customer determine their monetary value?
After having included all the costs into the price, we then normally go and add vat on top of our markup.
What if instead, we charged the customer the amount to cover our costs and then let them determine the value of the service or product in question?
The “recommended value” would then be the amount determined by the customer according to the value they perceived they gained from the good or service you provide.
If they paid you less than the “recommended value,” wouldn’t then this be a great opportunity to enter discussion with your customer as to why they perceived the value as less the “recommended amount,” so you could develop something better moving forward?
Isn't this more part of a growth mindset as opposed to a scarcity mindset that fixes value through a determining price for our goods and services? The scarcity mindset perceives competition and therefore, in its adversarial way, tries to coerce its customer into paying the price for the good or service. It tastes bitter and feels contracted.
Is this a good way to build trust and good working relationships with your clients? And does it serve your business model moving forward in retaining that client?
These, I think are all valid questions, if we are to move away from scarcity models in doing business.
The question is: how many of us are brave enough to implement these gift type payment systems into our structures and ways of doing business because ultimately you open yourself up to transparency. Something I think people are crying out for among the coercion, corruption, theft and fraud that seems to have become all so common place. There’s no longer anywhere to hide with such a system in place..
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