How do you know it's not greed?

by jkiley 17 replies
Gordon Gekko would not agree with me, because he thinkgs greed is good, I think not.

When you switch job to make more money, or increase the price of your product, how do you know you are not doing it based on greed?
#main internet marketing discussion forum #greed
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  • Profile picture of the author Lisa Gergets
    For what other reason would you increase the price of your product?

    Don't confuse greed with need.
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    • Profile picture of the author jkiley
      Originally Posted by TinkerAndPo View Post

      For what other reason would you increase the price of your product?

      Don't confuse greed with need.
      Because I have a product which is 37 dollars, and I cannot find any affiliates for it. Nobody want to sell a product and make 10 bucks. If the price is higher then I might find affiliates.

      I have been reading a lot of this forum and war room and I feel that if I want to move the "next" step then I need to increase the price of the product. Or I will just be part of the rat race.
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      • Profile picture of the author Dan C. Rinnert
        Originally Posted by jkiley View Post

        Because I have a product which is 37 dollars, and I cannot find any affiliates for it. Nobody want to sell a product and make 10 bucks. If the price is higher then I might find affiliates.
        Have you thought about increasing the commission?
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      • Profile picture of the author Black Hat Cat
        Banned
        Originally Posted by jkiley View Post

        Because I have a product which is 37 dollars, and I cannot find any affiliates for it. Nobody want to sell a product and make 10 bucks. If the price is higher then I might find affiliates.

        I have been reading a lot of this forum and war room and I feel that if I want to move the "next" step then I need to increase the price of the product. Or I will just be part of the rat race.
        Or you could just sell the product yourself. You are selling it yourself, aren't you?
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      • Profile picture of the author Hesaidblissfully
        Originally Posted by Paul McQuillan View Post

        Go ahead and give $20 to the affiliates (or all of it).

        Something like a $37 ebook is front end. It is usually used to build your own list and sell them more stuff (or start piking others to them)

        Nobody gets rich off a $37 ebook
        Exactly. That way the price point stays the same for your customers and your product becomes more attractive to affiliates.
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      • Profile picture of the author TheMagicShow
        Originally Posted by jkiley View Post

        Because I have a product which is 37 dollars, and I cannot find any affiliates for it. Nobody want to sell a product and make 10 bucks. If the price is higher then I might find affiliates.

        I have been reading a lot of this forum and war room and I feel that if I want to move the "next" step then I need to increase the price of the product. Or I will just be part of the rat race.
        Your product is $37 and you are offering only $10? That's not even 50% commission, how do you expect an affiliate that makes their living from promotions to take your campaign serious? First of all, you could try to offer $20-$25 dollars per sale. Even if your commission was higher, how about the sales copy and your conversion rates? What marketing tools are you giving to your affiliates?

        A lot goes into making a sale from your products, affiliates are serious business minded folks and won't take any promotion serious unless it can help them make a living from it.

        Sure, you may think that you are losing money by offering higher commission. The reality is that -- w/ out a strong affiliate or JV base, you'd have to spend a good amount of money or time doing your own promotional stuff. Offering a higher commission is key.

        Good luck!
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      • Profile picture of the author Vadym
        Originally Posted by jkiley View Post

        Because I have a product which is 37 dollars, and I cannot find any affiliates for it. Nobody want to sell a product and make 10 bucks. If the price is higher then I might find affiliates.

        I have been reading a lot of this forum and war room and I feel that if I want to move the "next" step then I need to increase the price of the product. Or I will just be part of the rat race.
        Offer higher commissions.

        And hell, if it's at 75% [I'm assuming you're on CB], bump it to $47 and offer an extra $500 of bonuses for buying.

        If you're CONFUSED about whether you're doing it for the right reason, chances are that you're not.
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  • Profile picture of the author Dan C. Rinnert
    Originally Posted by jkiley View Post

    When you switch job to make more money, or increase the price of your product, how do you know you are not doing it based on greed?
    What matters is whether or not you are providing sufficient value for the money you receive.

    If you make $10 an hour and someone else comes along and offers you $20 per hour, it is likely because that person believes the work you can provide him is worth $20 per hour to him. So long as you provide that amount of value to him--and you won't be employed long with him if you don't--where is the problem?

    Likewise, if you sell a product for $97 and that product provides $97 or better of value to the buyer, then where is the problem? Does it matter whether you priced it at $97 because you were "greedy" and wanted more than, say, $77 for it? If the buyer is happy with the deal, where's the issue?

    Then again, if you're providing that extra $20 in value, is it really greedy to ask for it?

    As a customer, it doesn't matter to me whether you priced something at $37 when you might have been happy with $7, so long as the product I buy provides me with $37 or better in value.

    On the flip side, let's say you altruistically price your product at $7. Does it matter to me that you were not being "greedy" if the product you sell me for $7 is a piece of junk?

    If you are worried that you might be pricing something based on greed, perhaps that is an indication that your product doesn't provide value equivalent to or greater than its price. If your product provides $97 or greater of value, there shouldn't be any hesitation to price it at $97, or whatever your target price may be.

    Excepting, of course, where competition may force you to sell at a lower price.
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  • Profile picture of the author Scott Ames
    Originally Posted by jkiley View Post

    Gordon Gekko would not agree with me, because he thinkgs greed is good, I think not.

    When you switch job to make more money, or increase the price of your product, how do you know you are not doing it based on greed?
    I think moderation is good. There is a level of greed that is bad. In Gordon Gekko's case I love the quote "How many yachts can you ski behind?"

    How much is enough? I don't know. For each it might be different. Ted Turner used to say that $200 million is enough and no one needs more than that. He advocated giving anything above that away and he did give away a lot.

    The Google boys are worth between $15 and $18 billion each, but Google has yet to say enough and give away its advertising. Bill Gates spends his life now giving away money, but he reached $100 billion at one point and was still working like a mad man at that time.

    What bothers me are rich people that step on , virtually spit on, those in need. The multi-millionaire that eats and leaves no tip for the single mom working her tail off to feed her kids for example. I've actually seen that one happen. Why be so dang ignorant and cheap when you have more than plenty?
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    • Profile picture of the author Jeremy Kelsall
      How many threads are you going to start about raising the price of your product?

      The OBVIOUS answer is to raise the price and see what happens.
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    • Profile picture of the author Black Hat Cat
      Banned
      Originally Posted by Scott Ames View Post

      Ted Turner used to say that $200 million is enough and no one needs more than that. He advocated giving anything above that away and he did give away a lot.
      Ted Turner is an idiot clown who believes North Koreans actually have it pretty good. Proof positive that anyone can make it in this country if they're willing to put in the effort.
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  • Profile picture of the author ckboddic
    LOL at OP and the serious wet dishrag responses. You guys need to develop spines. Jkiley would you give away your car to save 10 babies with their bodies lying in middle of a train track. If not then silence yourself. If yes, then you're a liar.
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  • Profile picture of the author ckboddic
    And what do you define as greed? It all must boil down to that is that what you're saying?
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  • Profile picture of the author CDarklock
    Originally Posted by jkiley View Post

    When you switch job to make more money, or increase the price of your product, how do you know you are not doing it based on greed?
    Let's say you have a product. It costs, oh, $37. You look at the numbers for your product, and you say "why, for me to make a decent living, I would have to charge more... something like, oh, $497."

    Do you deserve to make a decent living?

    Then this is not greedy.

    Greed is about wanting more than you deserve. If you deserve what you get, it's not greedy to take it.
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    "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
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