Now, if all has gone well and you've presented the options to the customer, obviously the next logical question is how much right that famous how much. This is where things get a little uncomfortable. But here's your new mindset. Don't be uncomfortable presenting price. Again, as soon as you hesitate presenting price hold back so to speak, that customers can sense that if you really believe in your product, then there is no reason to hold back if you believe your product has value that can help them there is no reason to hold back on pricing. Now there's two types of pricing models in general that you can go with.

One is the fair market value price that you often see. In other words, your product compared to somebody else's comparable product are similar in price. Then there's the premium price product. In other words, your product or service is so good that you're charging a premium. It's typically 2030 40% above anybody else's. Again, it's your strategy you have to determine what you feel comfortable with in terms of what you can deliver in terms of value of process.

Have an service. So again, are you fair market price? Or are you premium price. Now, it's good to have this mindset going in to a sale into a presentation, because it'll allow you to position your product more effectively. So for example, if you're walking with a fair market mindset that again, during the product presentation, you're going to talk about how your product compares to other products. And that's kind of the differences, small differences here and there.

And you're going to conclude in your options in your pricing with here's what we compare how we compare with other products in the market. But if your mindset is that you're premium price, you charge more than everybody else, and you're going to make no excuses for it. Then what you want to do is have that mindset before you begin your presentation. Because now as you go through your presentation, as you go through the demo, you're basically emphasizing to the customer, here's what we have to offer. Here's what our competitors offer. But here's what we really offer that's beyond above and beyond what they offer, which is why Mr.

Customer, we're typically more expensive than our customers. Explain why. Remember that line. So again, having the mindset of whether you're a fair market price person or a premium price person makes a difference in how you position your presentation. So have that appear, understanding what you want to do how you want to sell before you begin your presentation. Again, I'm from the philosophy and the school of premium pricing, which means that if I have a product that I know is better than anybody else's, that I can deliver it in a more effective strategic way that has more value, then I'm going to charge a little more and guess what, if you've identified the right customers, as we talked about, in the beginning, you will find people who are willing to pay the premium price.

Look, let me give you a simple example. There are people who will go eat at Denny's and buy a steak over there for 12 bucks. There are people who go to Ruth's Chris and buy a steak over there for 50 bucks. Again, which one's valid both of them are, but both have different demographics, different markets after serving. That's how you should look at your product or service. So again, keep that in mind.

Options. When you're presenting pricing options, if you present two options, customers will always gravitate towards the cheapest one. But if you present three, they'll gravitate towards the one in the middle. That's just key. Because what you want to do is put the one in the middle, the one you want them to buy in the middle. So if you only have two products right now, or two pricing options, you want to create a third one to force people to go to what in the middle.

Here's the philosophy behind it, or the psychology behind it, that when two options are offer, people will actually choose the cheapest one to mitigate the risk. When three options are offered, people will choose the one in the middle to mitigate the wrists always offer three options and put the one in the middle that you want them to buy. Don't believe me that this works. go to Starbucks, go to McDonald's, how many options they typically offer three, they never offer two options and he wants you to buy the one in the middle get the idea. three options from now on. Last but not least, if you're going to present options in terms of pricing, you should also have some different options for your customers in terms of how they can pay Hey, is a net 30?

In other words, do within 30 days or net 60? Somebody need net 90. I've seen that before. How about in terms of how they're gonna make the payment? Can they pay with credit card? Can they use PayPal?

Can they go online, get the idea, have all that information ready for them. So when you're talking to the customer, and you're laid off the option you laid out now the pricing options, then you can simply ask the question, Mr. Customer based on what we've shown you, which of these best fits your budget. Now we've moved into the full clothes, get the idea. Now, what I want you to do now is think about your options. Let's talk about your pricing options, how you're going to formulate those, what you're going to have in each of the three pricing options, you're going to put a number on them.

And again, you have a mindset are you premium price if you are that's great, put your premium price, high, middle price, fair market price, and then maybe something that's a little lower, and again, if you've done the presentation correctly, during the pro and con presentation piece, if they choose the cheapest one, guess what you're going to highlight what they're not going to get which means they'll try to migrate towards the middle one, which is the one you want them to buy. In the end, what you want to do is offer three options. let them decide which one of those they want and again, offer payment options to make it clear that there's more than one way to pay and you're very flexible on your payment terms. So go ahead and write out your three options, put your prices down, and again, begin to incorporate this as part of your presentation.

Go ahead and do that right now.