The Price is Wrong: Focus on your ROI Instead

By Elle Wilson

Imagine how many mistakes we’ve made throughout our careers when it comes to training. Wasting money, time and our precious energy.

Perhaps the reason this happens is because as we are learning the art of entrepreneurship, we have yet to figure out what are the right questions to ask when making training decisions.

Successful entrepreneurs are always learning. They never stop learning. It’s one of their passions. They learn how to define the right questions or innately know the right questions.

So what would be a wrong question?

The wrong questions are the ones that prevent you from arriving at the most potent and impactful outcome.

Learning the art of entrepreneurship means listening to their advice, studying their behavior and how they make decisions.

Price is never my first focus. I don’t think this way and never have. My only concern is the return on my investment. Will my return be a thousand-fold? I was born thinking this way; it’s a mindset thing. If I get a sense that something is real and authentic, I will get that darn job done. If I say yes, then I will do it. If I say yes, then I will discipline myself to reach my goal. That’s why I only focus on return on investment. I am not haggling over price, fearing that I may not get the job done.

As you learn the art of entrepreneurship, you must consider the implications of focusing on pricing instead of ROI and ask yourself: “Am I asking about price because I don’t trust myself?”

Sorry for being so blunt, but the truth often touches those sore points. However, if you are willing to be completely honest with yourself, then you’ll be on your way to great things. Otherwise, get out of the game. Business is meant to have a flow and ease to it, it isn’t about struggle and overwhelm.

The art of entrepreneurship is all about you living your best life. Surrounding yourself with the best people and always believing in your ability to follow through. If pricing is your first thought, that’s simply your subconscious telling you to re-examine your level of discipline: How much do you want to succeed? What is your level of commitment? Once you bring these thoughts to your conscious mind, you are growing and laying the groundwork to get to your next level of entrepreneurship.

Money is never the reason we don’t do something. It’s not about being fickle with money. It’s the exact opposite, actually: it’s about spending money in a deeply meaningful way. Successful entrepreneurs want impactful outcomes all of the time because they know the value of time.

On a recent Facebook ad campaign, I was shocked that not one person asked about the return on investment. No one asked how much money they could make in the future if they invested in our training? All they wanted to know was the “price please.” This says so much. It means that the industry decided on price and this is bad business.

You should ask questions like “how can you prove to me what my return on investment is going to be?” Put the burden of proof on the trainers. This is you empowering yourself to make the right choices.

When investing in yourself or your team members, your one focus must be on what will be the best investment for my business. Good leaders want the best because they want results. When you’re guided by price alone, you will always be left short in the end. Whether that’s feeling you received inadequate training and need more, or looking for the right kind of training to help solve your business problems. Training that offers you impactful results isn’t expensive, it’s a blessing.

Keep this in mind: expensive is when you spend $10 on a top because you didn’t want to buy the $99 one and the cheaper top falls apart on your first wash.

Pricing is about return on investment. In business, this is all about you and your ability to decide for yourself. Remember that you as the customer have the power to negotiate with trainers. So do your homework first. Just because something is expensive doesn’t mean it’s better.

Take beauty equipment, for example. If they can sell it to you, they can also sell it to the salon down the road. Create the terms, read the reviews, and study the risks associated with the treatments. Don’t just look at Instagram before and after’s. Do a deep dive into any program, product line, or machine that you are going to invest in. Look at long-term results, not just the immediate ones. After all, you are building a business for the long haul and need long-term client satisfaction.

Elle Wilson Founder & Creative Director TrueBrow™ International https://www.truebrow.com/