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Value Follows Fees

Value Follows Fees

The conventional wisdom is that the more value that’s perceived, the higher fee you can charge.

Of course, I’m going to provide a different picture.

The more people pay, the more they perceive high value. In consumer products, cheaper alternatives break more often and fail sooner. The more expensive the theater or sports ticket, the better the view. The more expensive the restaurant, the better the food and service (or we stop returning). The best attorneys and doctors cost more.

We believe that higher prices indicate higher value in most cases. No executive wants the cheapest heart surgeon when a health crisis emerges, nor does that person want the cheapest consultant or expert when a business crisis appears.

Raising your fees raises your value. You simply need to be dealing with a true buyer, who places a premium on quality, and not a gatekeeper who places a premium on saving money despite losing quality.

© Alan Weiss 2015

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Alan Weiss is a consultant, speaker, and author of over 60 books. His consulting firm, Summit Consulting Group, Inc., has attracted clients from over 500 leading organizations around the world.

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