Instead of Worrying About the Competition, Worry About This
Instead of worrying about the competition, there is a more pressing issue to focus on as a professional services provider: the value you’re delivering to clients.
John Ray: [00:00:00] Hello again. I’m John Ray on The Price and Value Journey. Solo and small professional services providers spend way too much time worried about competition. The irony here is that so many of these firms are run by ex corporate executives. That’s an irony because their former employers must worry about competition, market share, and what they’ll report to shareholders next quarter. Leaving big corporate ought to mean you left all that behind.
John Ray: [00:00:34] Not long ago, I was sitting with a financial services solopreneur who said to me, “I get calls from people all the time, who I don’t know, saying that so-and-so referred them. And I don’t even know who so-and-so is.” You think this guy is worried about his so-called competition? In his case, he has major national brand name firms with big advertising budgets pounding all of us with more ads than a political candidate in a swing state. There are thousands of providers of all sizes who provide the same service he does. Why does he get more calls than he can handle?
John Ray: [00:01:13] Because he is singularly focused on the value he gives to everyone who calls him. Even if he can’t take care of them, he makes sure he sends them to someone who can. Or he gives them an insider to which at least gets them closer to a resolution of their problems. If you’re focused on delivering value, competition becomes an old acquaintance whose face you recognize but whose name you can’t remember.
John Ray: [00:01:43] I’m John Ray on The Price and Value Journey. Past episodes of this series can be found at pricevaluejourney.com. I’d also be honored if you’d subscribe to our series on your favorite podcast app, if you’re not already. You’re also welcome to email me directly, firstname.lastname@example.org is my email address. And big news for 2023, I’ve got a book coming out. And if you’d like more details, you can follow me on LinkedIn, johnray1, or you can send me an email, email@example.com for more details. Thanks so much for joining me.
About The Price and Value Journey
The title of this show describes the journey all professional services providers are on: building a services practice by seeking to convince the world of the value we offer, helping clients achieve the outcomes they desire, and trying to do all that at pricing which reflects the value we deliver.
If you feel like you’re working too hard for too little money in your solo or small firm practice, this show is for you. Even if you’re reasonably happy with your practice, you’ll hear ways to improve both your bottom line as well as the mindset you bring to your business.
John Ray, Host of The Price and Value Journey
John Ray is the host of The Price and Value Journey.
John owns Ray Business Advisors, a business advisory practice. John’s services include advising solopreneur and small professional services firms on their pricing. John is passionate about the power of pricing for business owners, as changing pricing is the fastest way to change the profitability of a business. His clients are professionals who are selling their “grey matter,” such as attorneys, CPAs, accountants and bookkeepers, consultants, marketing professionals, and other professional services practitioners.
In his other business, John is a Studio Owner, Producer, and Show Host with Business RadioX®, and works with business owners who want to do their own podcast. As a veteran B2B services provider, John’s special sauce is coaching B2B professionals to use a podcast to build relationships in a non-salesy way which translate into revenue.
John is the host of North Fulton Business Radio, Minneapolis-St. Paul Business Radio, Alpharetta Tech Talk, and Business Leaders Radio. house shows which feature a wide range of business leaders and companies. John has hosted and/or produced over 1,700 podcast episodes.
Coming in 2023: A New Book!
John’s working on a book that will be released in 2023. The book covers topics like value and adopting a mindset of value, pricing your services more effectively, proposals, and essential elements of growing your business. For more information, contact John below.