WHY ARE YOU AFRAID?

Recently I put out a post on numerous Facebook groups with the above title. It read:

‘Most painters I know are too afraid to put up their prices as they think customers won't accept their quotes. The real reason is they're more concerned about what others are charging and must match it or be lower. Thinking like this is affecting our industry, and it has to stop. All this boils down to the lack of confidence in yourself and your work.

Get out of this mindset.

You are a professional. You produce quality work. You have the experience. Most of as well, you want to do the right thing by the customer. Feel positive in saying that once you have finished the job, you don't expect a call from them (for a repaint) for at least 10 years.’

Overall, more than 100 reviewed and commented on it within a two-week period. Below are three of the responses.

‘Back when I first started in business, I had no idea how to quote. I always did good work but was ‘shit scared’ to charge too much. After listening to a business podcast where it was said, ‘Charge 10% more and see what happens, and then do it again a month later’.

I did that and pretty much continued doing so over the course of a year until I was charging 3 times more than I used to. My close rate is 30%, which funny enough was 30% when I was 3x cheaper. My best close rate of about 60% was when I was over double my original pricing.

The best balance is charging enough that you seem professional, but not too much that you don’t win any work.

Using this I grew from my brother and I to currently 14 and never had more positive view of my business from customers, which we back it up.

So everyone, charge 10% more, if you lose 10% more jobs, you get the same money for 10% less work. Win-Win.’

- James Vanderhaak

'A regular client of mine told me they decided to accept a cheaper quote if I couldn’t match it, which was 30% cheaper. It’s been now 6 months and the other painting mob haven’t started the job yet as they’ve been waiting. They told me yesterday they will now accept my quote. I kinda mentioned my quote says 90 days valid’.

- Anthony Sorbello

‘From a third-year apprentice that will one day be doing my own jobs, thank you for saying this, it’s just what I needed to hear. As you’re learning you hear a lot of opinions from people of what you should and should not quote and it can become very confusing. Finding the right balance seems difficult but as you said, it all comes down to knowledge and confidence so cheers.’

The jobs you shouldn’t be interested in are the customers more concerned on the cost. Don’t worry if your acceptance rate falls slightly as you will make up for it in the extra cost you charge.

So! Are you lacking confidence and afraid to increase your price? If the answer is ‘Yes’, I guarantee you won’t get far in business.

Do the industry and yourself a favour and be proud of your worth.

(Thankyou James, Anthony and Maggie for allowing me to include your thoughts on the subject. It is much appreciated).

Jim Baker www.mytools4business.com