This year we’ve decided to run very few free events, and for a very good reason. The last event we ran we had 31 people booked on and only 11 turned up. A couple did let us know the night before and one or two on the morning of the event, but most didn’t bother to give advance warning at all. This meant the room was half empty and we had catered for two-thirds more than actually turned up. A lot of time, energy and money wasted on preparing the room, name badges, buying cakes, biscuits and tea.
So that got me thinking, why would you book onto an event and then not turn up? I realised it’s all to do with loss aversion. Most of us would rather make sure we didn’t lose than take a chance that we might gain (and there are many studies to show this). By not charging for my events, there is no pain if you don’t turn up. You find out ways to increase your profit by five figures but there is no pain to ‘make’ you want to turn up in the first place.
Now if you’ve been to any of our events you know I deliver as much value as I possibly can in the time I have. Because I’m passionate about small business in the local economy I want to help as many business owners as possible get what they want out of their business.
My aim is always to provoke thought and get the audience to think a bit differently about their business -just enough to do something a bit different that can have a dramatic effect on their business.
We don’t have to make major changes, it’s the small ones, done consistently over a period of time, that have the most effect. The key is to keep doing them time and time again, even when the going gets tough!
If you’d like to find out how to transform your business this year, by making one small change then book your place on How To Transform Your Business in 2016 http://how-to-transform-your-business-by-pricing-right.eventbrite.co.uk I’m charging for it, but early bird tickets are still available until the end of the week.