To Do: Getting the Big Bucks

Prada Shoes

What I really wanted to call this post was: My name is Preston Bailey and I am a shoe junkie–but I figured you’d want to know more about getting the big bucks, right?

Confession time: I am capable of being incredibly superficial. Nothing gives me more pleasure than walking into Prada and dropping $1500 on a pair of shoes. (Long ago, this is what my father made in a year).

As I prance down the avenue like a very proud fashion peacock, I feel like a better person when someone acknowledges my new overpriced Prada purchase. (I am sure I am not alone–you know who you are.) However, I still have the first pair of Prada shoes I purchased 12 years ago. I can safely say that as overpriced we might think Prada is, the quality of the shoes is excellent and I always feel a bit more special wearing their brand.

This week, I’d like us to work diligently in improving the quality and perception of our business to ensure that our clients feel special and proud of using our services. In other words, work on becoming a high end business. The question is: How can you make yourself and your services so unique that you can charge the big bucks like Prada?

To Do this week (and remember, this is just an exercise to test if you are ready):

  • Start by doubling the price of your services or designs.
  • Choose one about how you feel: A. My customer will never pay this amount; B. I am not worth that much, I feel like I am robbing my clients; C. I deserve this and I can make this happen by giving a very unique design mixed with great service.

If you chose:
A. You are one-hundred percent right. They never will if you actually feel this way.
B. Again, you are right. It’s up to you if you think you are not worthy.
C. I can assure you (based on experience) that with time and determination you CAN make this happen. I am convinced that anything we want the Universe or God conspires with us (and the world) to help us achieve it.

Making this decision is only the beginning. Tomorrow in Frequently Asked Questions, I’ll answer the question: How did you become a high end business? I’ll also give you a few tips on how to make this happen.

Which did you choose? A, B, or C? Please share at least one example about how you managed to improve the quality of your services. And actually, I wonder: Are you interested in becoming a high end brand and getting the “big bucks” or are you just happy where you are? (A lot of artists are completely content with where they are, and of course that’s okay too.)