#179: Stop Selling Your Discounts

Years ago, a client taught me two lessons. As a young man, he sold software in England. The product was not selling very well, even after steep discounts, and so he became desperate. Once, while pitching to a CEO, he felt relieved that the sales pitch was going well.

But then the CEO said, “Are you trying to buy it back?” My client had missed the cue that the CEO had bought. Instead, he kept on selling.

Poor sales led to his company being sold instead. One of the first decisions enforced by the new owner was a price increase of ten times. Yes, ten times. The sales force was ready to riot, but then a strange thing happened. Sales took off.

His two lessons?

Value what you are selling and others will as well.

And stop selling once the customer has bought.

Welcome to my side of the nonsense divide.