No One Wins In A Price War

In this video, I explain why engaging in price wars is detrimental to any business, especially healthcare providers. When you emphasise that you are the cheapest, it can attract undesirable patients and customers. People looking for a premium service expect to pay a premium price; they never look for the most inexpensive provider. So if a new business opens in your area and they cut their prices, never get sucked into a price war because, in the end, no one wins. 00:00 Introduction to Price Wars 00:22 The Downside of Competing on Price 00:38 Real-Life Example: The Beer Wars 01:09 How Competitors Undercut Prices 01:34 The Pitfalls of Attracting Price-Sensitive Customers 02:12 A Personal Anecdote on Price Checking 03:25 The Importance of Maintaining Premium Pricing 04:53 Conclusion and Viewer Engagement My Books: It's No Secret There's Money in Podiatry - https://amzn.to/3ZJxto5 It's No Secret There's Money in Small Business - https://amzn.to/4dklIY3 ON-SITE TRAINING & LEADERSHIP DAYS My training and leadership days are designed specifically for your podiatry business needs. I can tailor my program based on your team's needs (Teamwork, Leadership, Goal Setting, Improving Happiness, Understanding KPIs, Following Systems). If you want to learn more, please email me at tf@tysonfranklin.com. We can then arrange a Zoom call to discuss your clinical and business needs, as no two podiatry businesses are the same. Do you have questions about your podiatry business, team, personal goals and career direction? If you do, I'm here to help in any way I can. I recommend following the link below to my calendar and scheduling a free 30-minute Zoom call. I guarantee that after we talk, you will have far more clarity on what is best for you, your business and your career. https://calendly.com/tysonfranklin/podmeeting30 A podiatrist I spoke with in early 2024 made an extra $40,000 by following my advice from the 30-minute free Zoom call. You have everything to gain and nothing to lose. Facebook Group - Podiatry Business Owners Club https://www.facebook.com/groups/podiatrybusinessownersclub Podiatry Legends Podcast - Available on ALL Podcast platforms or directly from the website https://www.podiatrylegends.com/blog/