Good Morning Innovation Leaders, One of the side benefits of creating an Entrepreneurial Culture of Never Ending Innovation ZD.
ZD - means ZERO Discounting of the price of your products and services.
Now at first the concept of ZERO Discounting might seem crazy.
It is crazy if you are selling a commodity.
It is the consequence if your offering is Meaningfully Unique.
Think about it -
• Do you see Apple or Bose products "on sale" every weekend? • Does the 5 star restaurant offer "half price appetizers every Thursday night"? • Does the specialist heart surgeon offer special buy one get one free heart by pass operations?
The answer in each case is no. In each case the answer is no.
You can follow this approach when you are meaningfully unique.
Specifically - when your offering is so valuable that customers just have to have it -- AND -- they can't get it anywhere else - then you are able to get your price.
Importantly - sometimes Getting Your Price is about more than cost. Sometimes it's about getting your terms and conditions. I remember a meetings some time ago with a University that was interested in licensing the Innovation Engineering education package from the University of Maine.
The University person said - "We'd like to license it then we'd change it - take off the Innovation Engineering Name and do it our way."
I explained that "that's not going to be possible. If you want to be a part of the movement you need to teach it exactly as we tell you for the first year - then you need to help us - the community - make it better:
He was shocked at the response "what if I don't want to do that?"
My response was quick and to the point "Then you'll have to license the other Innovation Engineering program"
"But there isn't anything else like this" he protested.
I had him...I'd made my point... My answer was clear "Now you understand what we're teaching - AND why we need to Reignite Innovation And Growth in this country."
IMAGINE the transformation that would occur in your organization if you had the confidence to say that Your Price is Your Price! And, imagine the impact on your profitability if your Price was your Price!
Have a great weekend.
This week I've jolted this blog by writing daily - my plans are to write it every Monday, Wednesday and Friday.