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Memecast #24: Business is NOT a Zero-Sum Game

Memecast #24: Business is NOT a Zero-Sum Game

FromImpact Pricing


Memecast #24: Business is NOT a Zero-Sum Game

FromImpact Pricing

ratings:
Length:
2 minutes
Released:
Sep 15, 2021
Format:
Podcast episode

Description

First, a zero-sum game essentially means the size of the pie is fixed. If we have a pie there and you get to cut it that, and I get to choose which half I'm going to take, then that's a zero-sum game because the more I take, the less you get, or the more you take the less I get. In price negotiations, assuming we don't change the product or the offer. And it's just a debate on how much is a customer going to pay in order to buy our product. That's a zero-sum game. The more they pay, the more we get and the less money they get to keep and vice versa. However, that's not the way business works. “Business is not a zero-sum game. Focus on increasing value to the customer.” – Mark Stiving We shouldn't be thinking of our business as a zero-sum game. Instead, if we're clearly listening to our customers in our marketplace, we can create features and products and capabilities and nuances of our, of our products so that the buyers get more and more value. And the more value they get, the more they're likely willing to pay. And their willingness to pay probably exceeds our cost of creating that X additional value. In other words, we're creating value both for the customer and for us, hence the business isn't and shouldn't be thought of as a zero-sum game. We hope you enjoyed this podcast. If you see have any questions or feedback please email me mark@impactpricing.com.  Now go make an impact. Connect with Mark Stiving:  Email: mark@impactpricing.com LinkedIn
Released:
Sep 15, 2021
Format:
Podcast episode

Titles in the series (100)

The Impact Pricing Podcast will help you win more business at higher prices by teaching you about pricing and value. Once you understand how your buyers perceive the value of your product, you can build, market and sell products that win at higher prices. Pricing is really about creating, communicating and capturing value.