We never had much money when I was growing up, but whenever my mum bought something, she made sure it was of the best quality she could afford.
I don't think we were alone – and I don't think that attitude is confined to the ‘80s. Most people would rather pay for quality than search out the cheapest. And the old adage "You get what you pay for" is just as true now as it was 25 years ago.
If you're good at what you do, you won't need to compete on price. People will recognise the value in what you offer and they'll be prepared to spend more. Or will they?
Often I meet small-business owners who struggle to earn a living because their customers won’t pay their prices. Consequently, they have to be the cheapest or discount just to make the sale because their customers don't recognise/appreciate the value of what they’re being offered.
And this is partly down to the small business’s sales process, partly what’s written on its website/ brochure and partly (largely if you're not doing the selling) down to the fact that their brand isn't communicating confidence or professionalism.
Fiona Humberstone, Flourish design & marketing