Dr Esther Muchemi: Thou Shall Not Overcharge Clients
Samchi Group Founder and Chief Executive Dr Esther Muchemi has taken a moment to give us a piece of advice against overcharging clients
Dr. Esther Muchemi notes,
“OVERCHARGING CLIENTS
In my experience this is not the way to grow your revenue.
NO, it’s not!
It’s not wisdom either.
NO, it’s not!
Giving value, in my opinion, is a more sure way of keeping you in business in the long run, whilst holding all things constant.
In the last one month, I have changed 2 of my suppliers, at a personal level.
Why?
Because of a painful realization that they were overcharging me on the products and services.
And for me, it was a no, not again decision.
The fact that one may not have time to shop around and compare prices, does not allow you to overcharge someone.
It is not sustainable, and the truth is, the truth always has a way of surfacing at some point.
The possible consequences of this truth are -:
1. You lose such a loyal customer.
2. You lose the possibility of getting a referral from such a person.
3)Honestly, the sense of betrayal is real!
4)Your integrity is at stake as far as you as a business person is concerned to mention but a few.
Don’t fall into the temptation of overcharging a customer on the basis of social class, race,(mzungu) or such other basis.
Stick to the justified price, the fair price for giving a service or a product.
This should take care of the margin which you have predetermined and should translate to reasonable profits.
Exploiting a customer for whatever reason works against you in the long-run.Keep it fair, keep it right!
Madam CEO.
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