Are you giving it away?

Are You Giving It Away?
By: Jenn Givler

When you first start your business, one of the best ways to market yourself appears to be giving away your product or service for free. You figure, if someone has the chance to sample your wares, they are sure to become customers. But will they? What does this tactic really do to your business?

Some entrepreneurs employ this tactic because they don’t yet see how much value they provide for their potential customers. They feel insecure about how good they really are, so they give it away hoping for positive feedback. You can get stuck thinking that this tactic will bring you validation - that it will reinforce that you’re doing the right thing, and that you should keep moving forward.

Other times business owners give things away hoping deep down inside that it will producemore business for them – that the potential customer will try their product, fall madly in love with it and come back again, and again, and again. Sometimes that happens, but more often than not, you end up never seeing that person again, or they don’t purchase from you.

When you give away your products and services, you are subconsciously telling yourself that you don't value your products. You’re also reinforcing to yourself that, somehow you lack confidence around what you're creating. And, you are subtly sending those same messages to the people you’re giving your services to.

If you keep giving your products away without getting anything in return, you risk burning out. There's no reward for your hard work - there's no reciprocity. You keep giving, and giving, and giving - and not receiving. It's like a neighbor that constantly borrows your garden tools and doesn’t return them.

You put your potential customers in an awkward position when you give away your products. As a society, we expect to pay for things. Your potential customer expects to give you something in return for your items. They may avoid coming back to you because they don’t want you to feel that you have to give them something. Also, they may not want you to think they expect to get something for free all the time.

Many times, people don’t value what they receive for free. Think about it, when was the last time you received something for free? What did you do with that item or service? How did it make you feel? We feel better about the things we receive in exchange for something of equal value. So, when you pay for something, you tend to value it more. The same is true for your customers.

If you find yourself giving your products or services away, ask yourself why you keep doing that? How are you hoping this will serve you and your business?

If you need help to bolster your confidence in your products, ask your current customers what they like about the products. If you don’t have customers yet, ask family members for feedback. Then, really hear what they have to say. If they tell you your products or services are great - soak that in; believe them! Use that information to build yourself up.

To build up your confidence in charging and accepting money for your products, you can offer an introductory price. Or, you can offer a discount of some sort. Tactics like this imply that this is a special, one-time-only price. That way, customers understand and are prepared for purchasing the product at a higher price next time.

You must believe that what you're creating is wonderful. Your expertise, your knowledge, your care - goes into everything that’s created in your business. You are providing value to the people that you serve through your business. That's worth something in return. Without making money in exchange for your products, you won't be able to be of service for very long.

Article Source: http://www.wahm-articles.com

Jenn Givler is the Catalyst for Thriving Businesses. She teaches entrepreneurs how to break through fear, frustration and overwhelm in their business. Visit her web site and receive your free report: The 5 Reasons Your Business Is Still Stuck – Even though you’re doing everything right. www.jgivlercoaching.com