choices

We get trapped and stick around for a while.

If someone wants to buy 100 books, but that person could only get 5, it takes a lot of time to decide which 5 books are the best. The other 95 are rejected, but since they were also good, the consumer comes back whether it would be a week, month, or year later to buy more books.

With more options, consumers have to closely examine each option. They are more likely to come back and buy more of your products.

When deciding among 10 products, a consumer may be able to make a quick decision. However, before the consumer makes a purchase, he might see another product that he wants to buy. People don’t leave, but instead they stick around. When they leave, they are sure to come back.

 

We get trapped and overwhelmed.

If there are 100 books that you like, you can’t buy them all now. You have to make a choice.

What if you could only buy 5 books, but each of those 100 books are special in their own way? Rejecting 95 of thos books would be an overwhelming process that could take hours. It isn’t as easy for the consumer to just flip a coin and base their decision on luck. Consumers weigh all of the options before making a final decision.

The less choices people have, the smaller the weight is. If a consumer has only 5 choices, that person only has to lift a 5 pound weight. If a consumer has 50 choices, that person has to life a 50 pound weight.

The 5 pound weight is easier to lift than the 50 pound weight. Make it easy for your consumers to make choices. The faster they make a choice, the faster they will buy one of your products. Giving a consumer too many hoices haults the process.

The most common mistake for new entrepreneurs is trying to please every client. If a new entrepreneur only knows about fixing Toyota cars, chances are that the new entrepreneur will fix any car, even if it isn’t a Toyota. The new entrepreneur won’t know how to fix a Honda, but if that entrepreneur might make some extra money, it’s worth a shot.

This is where a lot of new entrepreneurs mess up. They give the client too many options. Even though the entrepreneur only specializes in fixing Toyota cars, the entrepreneur will try to fix other cars as well. When the entrepreneur tries to fix other cars, it is the classic giving up quality for quantity.

The best way to get more clients and sales is to narrow down your choices. If you offer a lot of services, eliminate the services that take up the most time or give you the least amount of profit. If one of your services results in only $10 in profit and 10 hours of your time, that is a service you need to get rid of.

If you aren’t good at one of your services, get rid of it. The entrepreneur who fixes Toyota cars shouldn’t fix other kinds of cars. That entrepreneur should focus on Toyota cars because that’s the car the entrepreneur specializes in fixing.

Find something you are really good at, excel at it, and make it the highlight of your business.