Value Follows Fees
Meet Your Host, Alan Weiss
Alan Weiss is one of those rare people who can say he is a consultant, speaker, and author and mean it.
His consulting firm, Summit Consulting Group, Inc., has attracted clients such as Merck, Hewlett-Packard, GE, Mercedes-Benz, State Street Corporation, Times Mirror Group, The Federal Reserve, The New York Times Corporation, Toyota, and over 500 other leading organizations. He has served on several boards of directors in various capacities.
His prolific publishing includes over 500 articles and 60 books, including his best-seller, Million Dollar Consulting (from McGraw-Hill) now in its 30th year and sixth edition. His newest is Your Legacy is Now: Life is not about a search for meaning but the creation of meaning (Routledge, 2021). His books have been on the curricula at Villanova, Temple University, and the Wharton School of Business, and have been translated into 15 languages.
Show Notes
•We think the higher the value, the more we can charge.
•However, at a given point, people believe they get what they pay for and those lines cross.
•The point at which they cross means your brand is strong.
•No one needs a Bentley for transportation, a Brioni for attire, a Bulgari to tell the time. But they assign great emotional value in their association and display.
•The wrench story.
•Many people made money during the pandemic and rough economic times by raising fees. It’s easier, of course, to lower them, and to go out of business!
•Mercedes made a mistake going “downscale,” then failed to go “upscale” with the Maybach.
•At the outset, raise value to raise fees. When your brand is powerful, change the order.
Alan Weiss’s The Uncomfortable Truth® is a weekly broadcast from “The Rock Star of Consulting,” Alan Weiss, who holds forth with his best (and often most contrarian) ideas about society, culture, business, and personal growth. His 60+ books in 12 languages, and his travels to, and work in, 50 countries contribute to a fascinating and often belief-challenging 20 minutes that might just change your next 20 years.
Introduction to the show recorded by Connie Dieken
