Today’s quote: “Money never starts an idea; it is the idea that starts the money.” – William J. Cameron
A colleague told me that a few years ago he had the misfortune to get a painful ingrown toenail on his big toe. He called a podiatrist and made an appointment to get it fixed.
The podiatrist did something very interesting when he explained the two options for treating the ingrown toenail.
He said for $140 he could trim the nail and take away the pain.
However, he warned me that there was a strong possibility that within 4-6 weeks he would have the exact same problem again.
In other words, it was a temporary fix only for his problem.
The other option was to do minor surgery on his toenail for $340.
This had a 90% success rate which meant there was a 90% chance that my in-grown toenail problem would be permanently fixed.
He told my colleague that he could do either option right now. And that the surgery option would take a bit longer and would require two return visits to monitor progress.
My colleague decided I didn’t want to have to experience the pain of an ingrown toenail ever again so he chose the more expensive surgical option.
This option worked well and he has never had an ingrown toenail problem since.
I liked the way this podiatrist explained my two options. He had a cheaper option that would fix my problem for a short time.
So, it was a temporary fix only. Or you could invest a bit more money and solve the problem permanently.
My message to you today is simple.
How could you adapt this two-option choice to what you sell?
What temporary solution lower cost option could you offer?
What permanent fix higher-priced option could you offer?