decision to watch the Apprentice.
Our UK version is headed up by the likeable Lord Alan Sugar (cool
Anyway ... usual story, two teams pitted against each other to prove
their raw business skills and see who could make the most profit.
So team A ... selling their product for £10 and increase the price
when they see the punters are liking it.
Team B ... have a similar product but struggling to sell it for £11
or £12 ... can't quite remember.
So they knock 25% off the price and see the sales start to pick up.
At the end of the day it's back to the boardroom to face Lord Sugar
and find out which team won the day ...
After selling 55 units ... team B lose by a measly £39 and the team
leader gets the sack! That slight reduction in price may have made
all the difference.
Say bye bye entrepreneurial career with a top UK firm.
Lord Sugar's words went something along the lines of ...
... You went looking for the easy sale and reduced the price instead
of working for the sale and trying to think of a way to make your
offer look more attractive!
Right now I got a product in the martial arts niche and it started its life
quite well and made some nice sales.
Recently it has tailed off and I was going to reduce the price ... classic
Looking for the easy way to bump sales instead of working on getting
me some more.
Instead I'll be working on the copy, improving how I present the offer
and watch how that works.
No luck ... then I'll add a bonus or two to jazz it up and see how that
Still no luck ... then maybe I'll reduce the price.
I thought it was a cool lesson ... might have to watch more tv : )