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In the first 2 questions I would answer yes. I may be wrong but I believe most of this article misses the mark, one can be loyal and pursue profits also. MHO
The Upper Hand
Posted from corporateintelligenceradio.com
Leadership
Employment
Honor
Posted >1 y ago
Responses: 3
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Why sell yourself short? If you have a special skill set people are willing to pay for, capitalize on it. If you have a product you paid a certain price for but if you sell it for your regular markup to an old customer, you may not make enough to restock. Lumber is a great example right now. Yes, I bought it for $2 a board and I usually sell for $3. Now it costs me $9 a board. I’d have to sell you three to buy one. That’s bad business. Whether or not you’re a long time customer. I agree, you can do both.
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SFC Casey O'Mally
SFC (Join to see) - I think what the article is arguing is that if the board costs you $9, sell it for $11. You still make a profit. Your profit margin is higher by raw number, you win. It is smaller by percentage, the customer wins. Even if you *can* charge $14 for the board, because *someone* will pay it, don't. Or at least not to your long-term (or future long-term) customers. Work with your loyal customers to make sure you can still make ends meet, but you *also* keep your customers in business - after all, if they aren't in business, they aren't buying from you.
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SFC (Join to see)
SFC Casey O'Mally - There's a fine line between profit and customer service. SFC Moysard did a great job of explaining how a place can go out of business very quickly because of changing prices. They need to protect themselves because if they don't there may be no tomorrow for them.
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He isn't arguing against pursuing profits, rather against pursuing *exploitative* profits.
It is the age old, "just because you can does not mean you should."
It is the age old, "just because you can does not mean you should."
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