August 12, 2018

BESTOF Find your oysters

FYI - I’m currently off-grid at a lodge on a lake in a remote corner of Maine. I’ll be back in the saddle on Monday, August 20th. In the meantime, here’s a greatest hits post from the last year:

Find your oysters

My wife hates seafood. You’d have to pay her a lot of money to slurp down a plate of raw oysters.

I love seafood. I would happily pay a restaurant a lot of money for a dozen raw oysters with mignonette and soy-ginger sauce.

If a plate of oysters is put down in front of the two of us, eating them will be a pleasure for me. And not eating them will be a pleasure for her.

Same oysters.

One person finds them distasteful, another finds them desirable.

What does this have to do with pricing?

Replace oysters with risk.

Most businesses detest risk, particularly high impact risk over which they feel they have little control.

If you can find clients who hate a risk that you love, they will pay you a lot of money to “eat” it for them.