Dear Preston: What are your thoughts on giving discounts?

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DEAR PRESTON:

I have been in business for 10 years and though I am getting some clients who are willing to pay full price for my flowers, I keep getting those who want me to offer them a discount.  I am very passionate about my arrangements and put in a lot of hard work, but if I say no, I am afraid I will lose the business.  What do you suggest I do?

Can’t say no


Dear:

I think the real question is can you make a profit if you give a discount?  If your answer is yes, I don’t think there is a problem in giving discount once in a while,  as long as you manage your profit margin.

If the answer is no you do not make a penny, then tell them to take a walk.  I know that is not an easy stance to take, mind you, but if you are truly passionate about your work, let them go. Identifying the right clients (ones who benefit and appreciate your work and are willing to pay) is the key to your success.

I will add that you do not want to start competing with other florists who have little or no experience as they are likely giving away their flowers. I have found that the best way to grow your market was by adhering to one simple formula:

Under promise and over deliver.

Too many people do the opposite and it benefits no one. Not their business, not the client.

 

Question:  

Should this reader stop giving discounts? Also, how easy is it for you to pass up a job in this situation?

Blessings,

Preston

 

 

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