May 26, 2023

Jumping at the chance to pay 10 times more?

Pretty much every year, my extended family gets together for a retreat that my father has dubbed “Cousins Camp.”

This year it’s in Maine, so earlier today we were driving north on 95 in New Hampshire when we started seeing signs for an upcoming toll.

It was only $2, but to pay it, you either needed to have:

  1. An EZ-pay device installed in your car, or
  2. Two dollars in cash.

We had neither.

If the tollbooth operators had a third option to “pay with a credit card” for $20, I would have jumped at it even though it was 10 times more money.

Here’s the thing...

Convenience is worth a LOT to certain people in certain situations.

One way to dramatically increase your profits is to show up for these people when they’re in these situations.