November 9, 2022
“The bitterness of poor quality remains long after the sweetness of low price is forgotten.” (Benjamin Franklin)
Here’s what would happen if I decided to save money and do a bathroom remodel myself.
So when there’s a home improvement project which involves something more complicated than changing a light bulb, I default to hiring an expert. (I’m only being slightly facetious.)
For every service, though, there’s a segment of individuals who prefer DIY (do it yourself). For those of you who are solo and small firm professional services providers, you are much more likely to be referred to or run into the DIYers. Larger professional services firms don’t generally deal with this segment. (It’s one reason they’re larger.)
All do-it-yourself clients have the same characteristics, in various combinations:
- Poor understanding of the risk they’re taking on
- They think they’re saving money
- They don’t put a value on their time
- They’re not in that big of a hurry to solve their problem
- The task at hand fits the definition of a hobby for them
- A poor understanding of the details of what you do
(There might be a few others you can suggest….feel free in the comments below.)
Some of these reasons are understandable. Some make no sense whatsoever. Some you can counter as the outside expert. Some you will NEVER be able to adequately address for some clients.
To save your time and sanity, it’s important to understand the differences. Whether it’s marketing, accounting, or consulting, you should have a solid understanding of what traits a DIYer for your discipline possesses.
Whatever mix of these traits a DIYer might have, it all adds up to one thing: they don’t see a return in value which exceeds the price they are paying.
On the other hand, there are plenty of people who will hire you who understand that by doing so, they are engaging in risk avoidance. They see value in risk avoidance which exceeds the price they will pay you. They may not think of it exactly this way, but they intuitively understand Ben Franklin’s maxim.
Image created using Craiyon (Formerly DALL-E Mini)
(This blog post was also posted on LinkedIn.)
©Ray Business Advisors, LLC and John Ray
About me: I help solo or small professional services firm owners with the confidence and positioning necessary to improve their pricing and change the trajectory of not only their business but their life.
I have a podcast called The Price and Value Journey, which features interviews with industry leaders and audio versions of my blog posts. You can find the podcast on your favorite podcast app.
I also have a book coming out in 2023: The Price and Value Journey: Raise Your Confidence, Your Value, and Your Prices to Grow Your Business Using The Generosity Mindset.
For more information, go to PriceValueJourney.com