“I don’t mind the price… I just hate being ripped off”
My sister was shaking her head.
We had just finished with a one year memorial service for my dad and the coffees we hosted for people who come to pay their respects.
The weather was terrible so numbers were limited.
So my sister couldn’t believe she was seeing a bill similar to what we paid for the funeral itself.
The coffee shop literally charged 10x what our guests ordered (no one had more than one small espresso or machiatto).
And the organiser who we were really happy with and referred others charged pretty high for what was done.
It shocked us.
It goes back to the customer experience and how do they feel about it and would they refer others.
In short, how you make the customer feel at the end of the transaction.
That coffee shop ? No chance we go again to that one.
The organiser? She gets the benefit of the doubt from before but it’s not a guarantee she organises the next milestone memorial.
Now why do I keep harping on this.
Because the customer experience directly puts money in your pocket if you make it good enough that they feel they received value and are happy (and often eager) to buy again and refer others to you.
Getting new customers is a pain and a major expense.
So it makes sense that once you do get one you nurture them as an asset and allow them to not only buy more from you but send others to you “for free.”
A business with a customer base asset is more profitable, generates more consistent cash flow and is more enjoyable and easy to run.
A business where customers go in one door and leave out the other and you have to keep finding new ones?
Let’s say that is a recipe for long hours, stressful interactions, and falling into a job that hates you (and you it) and burns you out while leaving you with nothing of real value to retire or pass on.
I’d love to hear your comments on it.
Tell me if you think I’m full of it…or if there is something that you can apply to your own business.
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P.S. Getting recurring revenue right is one of the core levers in Fall in Love with Your Business Again.
Not just adding subscriptions but building them so customers stay because they want to, not because they forgot to cancel.
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P.P.S. I’m not the “systems,” “finance,” or “fix your processes” guy.
I help you fall in love with your business again—Because it finally gives you the life you want today
While setting you up to exit on your terms tomorrow.
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