Do This Before Offering a Discount

In this episode, we're discussing creative strategies for offering discounts without hurting your bottom line. I'll share insights on how to effectively scale your business, save money in taxes, and create a wealth-growing enterprise. While offering discounts is a common approach to driving sales and accommodating price-sensitive customers, there are smarter ways to do it that ensure you still capture full value.   Learn how to make discounts contingent on referrals or specific actions taken by the buyer, and understand the significance of knowing your margins. Discover the importance of valuing yourself and your offer by extracting non-financial value in exchange for discounts, ensuring that you don't devalue your services. This episode is packed with actionable advice on pricing strategies, customer acquisition costs, and building a supportive network. Get ready to transform how you approach discounts and grow your business profitably. Tune in and start the show!   What you'll hear in this episode: [0:50] The Pitfalls of Offering Discounts [1:50] Creative Ways to Offer Discounts [2:20] Understanding Your Margins [3:00] Leveraging Customer Referrals [5:20] Incentivizing Repeat Business [7:15] Valuing Your Offer [7:45] Networking and Referrals   If you like this episode, check out: Differentiating Between Margin and Markup Lowering Your Price to Sell More? Acquire Cheaper and Better Customers (Financial Priority Formula Part 3)   Want to learn more so you can earn more?  Visit keepwhatyouearn.com to dive deeper on our episodes  Visit keepwhatyouearncfo.com to work with Shannon and her team  Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.