My wife would say that the greatest way a man can ever show a woman he loves her is to buy her a diamond. This drives me crazy because the entire narrative that diamonds represent romance is pure marketing hype that almost everyone has bought into. Did you know that the tradition of giving a […]
De Beers, A Story About Controlling Supply and Creating Demand Read More »
Many side hustles and freelancers offer services and charge clients and hour. Yet few really know how to calculate their hourly rate and charge to little.
How to Determine Your Hourly Rate as a Freelancer Read More »
In the book “Predictably Irrational: The Hidden Forces that Shape our Decisions”, Dan Ariely talks about a cognitive bias known as the Endowment Effect. Simply stated, the endowment effect is the fact the people in general place a higher value on the things they have over identical things they do not have. Dan used the
The Endowment Effect Read More »
Customer acquisition costs often account for a large portion of your product or service costs. Smart entrepreneurs look for ways to get paid more than once by the customer to make the most of their customer acquisition costs. I used to sell a video series to educate investors only on DVD. Once the sale was
Get Paid More Than Once Read More »
Discover How Understanding Price Elasticity of Demand Can Help You Optimize Your Pricing Strategy With Real-World Lessons From My Experience as an Invisible Fencing Dealer.
Mastering Price Elasticity of Demand: Lessons from Invisible Fencing and Beyond Read More »
A business associate of mine once used to charge $5,000 per day for his consulting services. I asked him once how he came to that rate and he said he heard someone was charging $4,000 per day and he wanted to be sure he was the most expensive option available. At the time he billed
Harness the Power of Expectations and Price Read More »
As a rule, faced with two similar options and one dissimilar option, behavioral economics says that most people will discard the dissimilar option and choose between the similar options based on our hardwired need to compare two like things. Furthermore, behavioral economics shows us that by contemplating a number, which in fact can be quite
Harness Our Need to Compare and Decoy Prices Read More »
If the customer can easily idenify the price of your product or service you will more than likely not make the final sale.
No Price, No Sales. Read More »
