Price and Value

The speaker emphasizes that focusing on value over price attracts a better customer base, illustrated through a personal experience in Zambia. By raising prices and improving the quality of services, his business experienced significant growth, attracting a more discerning clientele. The speaker's narrative highlights that a price-focused customer base may not always be beneficial.

Price and Value

• 00:00:00 The speaker asserts that customers who prioritize price over value are not desirable and may not be serious buyers. He recounts an experience booking an event in Zambia, where the initial low price resulted in a subpar venue and a challenging environment. He suggests that focusing on value, rather than price, is more crucial for long-term business success.

Customer Profile

• 00:01:28 The speaker explains that increasing prices can change the customer profile. He uses the example of car dealerships to illustrate this point. A Hyundai dealership won't attract Lamborghini buyers, and a Lamborghini dealership wouldn't entertain a customer interested in a Toyota's lower price. By raising prices and focusing on quality, he elevated the quality of his clientele and experienced a 203x increase in business.