Here is what riding instructors and horse trainers can learn from studying big business: Not much.
Big business operates with volume and can leverage their economies of size for profit. You can’t.
Your business can react quickly, offer personal service and develop lasting relationships. Big business can’t.
You’re not in the volume game similar to selling huge flat screen TV’s at discounted prices. You’re selling emotionally gratifying experiences with horses, self-confidence and personal achievement. That’s a high price investment that’s easy to sell when you properly frame it.
If your prospects and customers are price conscious well above everything else, send them to your competitors. Quality and high value are never in the same sentence with low price.
There is a tendency for business owners who deliver exceptional value for riding lessons, training or boarding to charge the same amount as others who only provide mediocre or sub standard value for their customers.
Even though the business owner knows she has a superior product or service, guilt or lack of self confidence prevents raising rates in relation to value offered. Undercharging in the horse industry is a common occurrence.
Here is one more reason to charge what you’re worth. The lower your prices, the more apt you are to resent your customers. Your passive-aggressive dark side may prompt you to under serve them.
” A call from her again? At the low price she pays me? I’ll return that call in a couple of days.”
Unhealthy customer relationships lead to unhealthy bank balances.
You agree cattle, sheep and horses are herd animals. Many are led by one. People, contrary to what they imagine, are herd animals. Many are led by one.
It seems logical as you improve your leadership skill, your employees and team will improve their followship skill.
Care to test this out by improving your leadership?
For Baby Boomers and Gen Xers only. Your experience of working around horses in your own entry level jobs probably involved plenty of pushing, lifting and sweating. You built muscles and character. I’m sorry to disappoint you, but nobody cares now.
The Millennials you employ today are a push button generation and if equipment and tools don’t have motors, hydraulics or seats, your probability for high employee turnover and low productivity is great.
This isn’t a negative comment about the youth of today, it’s an observation of human nature. Would you mow your lawn with Grandpa’s antique push mower?
It’s Monday morning and I’m revving the work engine after a long weekend. In a twist of reverse ambition, I’ve decided what I’m NOT going to do this week so I can do more of what I Want to do.
The following may be helpful to you, too, so here they are:
1. Allow shiny distractions to draw me away from my goals.
2. Let work masked as urgent, but not important, rob time intended for important work.
3. Feel guilty when I have to say NO to things that don’t help me follow through with my plans.
Once you get clear on how to have time to do more of the good stuff by doing less of the other stuff, you’re ready to get on with a more profitable business.