💡 A Particular Set of Skills (Issue 104)

Differentiate to own demand

“They fly me all over the world since I’m one of few people who can fix this problem. And they pay me well to do it.”

I overheard a conversation in a row ahead of me on a recent flight to Alaska. A consultant was explaining how he made a great living fixing problems on massive cruise ships. Apparently, his skills are unique enough that the cruise companies treat him very well.

Later, I ran into another person who had been flown in to address some issue at a big mine north of the city. Again, this individual possessed a unique set of skills that provided a solid consulting income.

It reminded me of an old engineering friend who got paid very well for his unique experience writing software for embedded systems. I overheard a company VP complaining to him about his high consulting fees.

My friend shrugged and said, “Feel free to look for someone who can do what I do for cheaper. Good luck with that!”

The executive frowned and stormed off. He knew my friend was one of the few who could do what he did for us. And he knew those skills didn’t come cheap, either.

As you are creating your business offer, think about how to differentiate your goods or services to make them unique. You never want to get into a situation where you’re forced to compete on price or speed (e.g., “Hey, I’m cheaper and faster!”).

That kind of competition becomes an unpleasant race to the bottom. And you’ll be hard-pressed to compete with larger companies with offshore resources who can afford to make way less than you require to survive.

Instead:

• Make yourself rare.

• Make your offer unique.

• Make your business invaluable.

When you succeed at that, you’ll always be in demand, and you’ll rarely need to argue about your fees or prices.

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I’m Larry Cornett, a Freedom Coach who works with you to optimize your career, business, and life. My mission is to help you become a more "Invincible You" so you can live your life on your terms instead of being controlled by someone else's rules. I live in Northern California near Lake Tahoe with my wife and our Great Dane.