Everybody knows that when price goes up, demand goes down, right? Well yes, but for expert services actually not as much as people think it does. Economists call it demand inelasticity, and its interesting because its so counter-intuitive, but true.
Industries are diverse, and their local variations are even more so. Each of these is likely to have many unspoken rules and conventions, signals of being the “real deal”, “in the know”, or some other expression of belonging to the in-group that can be trusted. These can and will include Read more…
I have been there, so many times. Planning, rehearsing, and getting ready to call out the price I think I deserve. The moment comes, the time is right, I grit my teeth – aaand blurt out a lower price. This is bad on many levels, but the gut-punch feeling of letting myself down Read more…
It seems long ago that opinion polls were still cool on LinkedIn. Back then, I made only one but it was very eye-opening. Here are the results: Just to get things straight: if you are an expert, the demand for your services is “inelastic” – which your clients will react less to Read more…