The #1 reason people don’t buy your stuff is (most likely) financial.
The #2 reason is they don’t think they need you.
“I can do this myself…”
If we don’t establish enough value and widen the gap between where they are and where they want to be, it makes sense.
Last week we spent the Thanksgiving holiday in Amarillo, TX.
We routinely hit up the Planet Fitness and then pop by the smoothie place next door called “Jiggle Berries”.
Not kidding.
Anyways, our favorite smoothie has 4 ingredients – chocolate protein, peanut butter, a banana, almond milk.
The cost? Just under $10 with tax.
Maybe $1-2 worth of ingredients, blended together and a $7 “you-don’t-have-a-blender-with-you-because-you’re-on-vacation” tax.
Honestly, I don’t see the value in that. It’s pure convenience. When I’m home I make a better smoothie MYSELF for $1-2.
Conversely, our favorite restaurant in Colorado Springs is Modern Market. They are a farm-to-table fast casual restaurant. Each salad, soup or bowl hosts a long list of ingredients that:
– I don’t know where to buy them
– I don’t know how to prepare them well
– I don’t know how to combine the ingredients for a tasty dish
Good for them. They have the secret ingredients to a delicious Salmon Curry.
The alternative to me, as a consumer, is “can I just make this myself?”
Jiggle Berries – YEP
Salmon Curry – NOPE. It would take forever, be super expensive, and would taste terrible.
Which one is your product?
The smoothie or the Salmon Curry?
Conclusion: be mindful of the conversations happening in your customers’ head. Acknowledge that they’re considering “can I do it myself?”
And if the answer is YES, then you as the business owner haven’t created enough value in your product or service, or you haven’t communicated it very well.
I give a few more stories, tips and tricks on today’s episode of the Cody Builds a Business podcast.
Full episode here.
-Cody
P.S. Here’s what else you missed this week:
Ep. 094 – Want to make $10,000? Find a $100,000 problem to solve. Repeat.
Ep. 093 – The Lock and the Key (From Seth Godin’s new book)
If you’re new to the show, each episode is usually around 7-9 minutes long and is available on 9 different platforms. Enjoy!
