It’s easy to become a commodity—where everyone looks to beat you up on price or spread. But if you follow these 3 ways, you will not be a commodity anymore.
1) Say NO! This is the most important one. You must have a willingness to say no. If someone wants your product or service for less than you are offering it, and you say No, then you are holding firm. There is no chance you are a commodity if you do this. Your one take away from this post should be the word No.
2) Price yourself higher. The lower you price yourself, the perception is you offer less value. Don’t get caught in a race to the bottom. That’s for Wal-Mart. And Wal-Mart will win almost every time. I take it you aren’t competing against Wal-Mart though.
3) Believe in your value. In my business at KazSource Inc, we believe in our value and strive to prove it everyday. We know there are others that claim to pay advisors more commission, but those others are a commodity and do not believe in their value. If you believe in your value (because it is good value) then this will make a huge difference.
There’s one catch. You must know that the client can walk away from your offer. No deal. No money. If you understand this and are okay with it then Congratulations, you are no longer a commodity!