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Ep 324: Doubling Your Value Without Increasing Cost with Ron Story
Elzie and Ron Story discuss different ways to identify the lack of concurrency in your business. They explain how asking customers what could have been done better can help you understand where change is needed.
As an example, they talk about how Airbnb founders rate their service with star reviews. Ron Story shares his insight on how he increased their service offering by doubling their value at no additional cost and his own experience of asking customers for feedback and using that feedback to improve their service offering.
Are you looking for ways to increase the value of your business without increasing costs? Don't miss out on this valuable episode that can help you increase the value of your business without breaking the bank. Tune in to learn more about the importance of customer feedback and how to use it to improve your business. Remember, small improvements can lead to big gains in value and customer satisfaction.
Episode Highlights
02:01 - When you charge a certain amount, you should ask your customers, what would have made this better? Usually the things that would have made it better doesn't usually have a large incremental cost to you, but it's a large incremental increase in value. That's why you got to ask the questions and talk to the customer. How much more does it cost to leave some magazines telling them what to do? It don't cost nothing, but it gives you an extra start. You probably could add an extra $10 to your price for leaving the same magazines for everybody, something that tells them the best restaurants in the area and the walking distance, and stay away. The things that can add value usually don't have incremental cost a lot of times. Just by doing that process, you can find out what makes your sales process better.
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