Focus on quality, and price becomes secondary

Watch the episode here:

• You’ll discover why most businesses focus on exactly the wrong things.
• I’ll show you how quality changes the conversation from “it’s too expensive” to “how can I afford this?”
• You’ll learn why cost-cutting is killing your growth potential.
• This episode strips away the complexity and gives you the only 3 rules you need.
• Your business can completely transform when you shift focus to what actually matters.

What’s shakin? Hey, I’m Rick Jordan, and today we’re going all in. All right, I’m sure you’ve been to a lot of conferences, seminars, events like I have, and there’s always people that are on stage, or there’s podcasts. I’m sure that you listen to also, because you’re listening to one right now, that will give you the rules to success in business. And I’ve seen like the five steps, or the 10 rules, the 10 Commandments of business and all of that. I’m gonna break it down real simple for you today and give you the only three meals, meals. What the heck I must be hungry or something. The only Wow. I just had sushi for lunch today too, and I was staring at these last four pieces. This isn’t a side story, but today we’re going to talk about the three rules of success in business, the only three rules of success in business. But I should have finished those last two pieces of sushi from a role. I got three roles. They were delicious, and I started getting full, like, I’m going to stop, but then there’s four pieces of sushi left. It’s like, how do you leave just four pieces of sushi? You can’t though I ate two and I left two. But apparently I’m still thinking about food. But I said the three meals of success. Maybe that’s another episode sometime. All right, getting back to it, the only three rules of success in business, these are so stupid simple, and they’re not even counter intuitive. 

That’s the thing is that they’re actually good practices. And it’s, there’s a lot more to business, obviously, than just three things. Okay, I need to preface this with that, but at the same time, because I’m sure you’re thinking, whatever, Rick, there’s more than three things I got to focus on. You know? What about marketing? What about sales, what about controlling my expenses, what about finding the right tools. What about, you know, having the right vendors? Of course, there’s all that crap. Of course there’s all that crap, but a lot of that crap starts to figure things out for itself when you follow these three rules, those are like subsets of the top line items that I’m giving you today. All right, number one rule, number one of the only three rules to have success in business is focus on quality. Focus on quality, not your price. There’s been years worth of research that goes into this, and especially if you’re just starting out, when you focus on quality and not price, you are able to charge more and pay attention to less. I need you to grasp that today. You need you to grasp that today, because people will want to continue to do business with you, literally, just because it’s you, when you focus on quality and not price, when you get into a sales engagement, or you have a conversation with an existing customer, a retention conversation, and the only point of the conversation, the only direction or topic the conversation is going in, is in price. 

You’ve already lost the sale, or you’ve already lost the customer hands down. But when you can focus on quality, you might use another synonymous word for this, like value, because you can always stack value on but when you focus on quality of the product or the service that you deliver, that’s what causes people to buy from you and customers to stay with you. Price has to be a secondary or a third or tertiary concern. You’re never going to get that out of somebody’s head. I need to be clear about that if you listen to these gurus, so called gurus that say price doesn’t matter. Price always freaking matters. When you frame this right and you focus on the quality, price becomes less, not the cost of the item that your customer is going to pay, but it becomes less in their minds as it should be, because what we’re supposed to do when it comes to a product, or whether it comes to any kind of service that you might offer, you have to focus on the outcome. That outcome is all that matters. If you have a shitty outcome, people are going to base you upon price from this point on, if you have a great outcome because of the quality of your product or service, or because of the value you are adding with your product or service, then price becomes a secondary thing. It matters a lot less because you’re focusing on quality. So what you need to do right now? I’m giving you an action step right in the moment, if you’re starting to think the things, and I know that you are, because I have, maybe you have, maybe you’ve gotten past this point, which is great, but I have thought this. 

It’s like, what are people going to pay? And you take a look at the number, you’re like, Man, I would love it to cost this much. And this has nothing to do with the with the cost of goods that go into. How much it cost you to buy or anything like that. That’s all important. You know, those are metrics that you can look at with a finance person. But what I’m talking about is, what’s it worth? What is your quality worth? What is your value worth when you’re setting the price for your product to your service? Because if you’re focusing on the quality and the outcome. Now, all of a sudden, the deliverables completely change. The attention on things that really matter actually come to the surface. Price matters, but the stuff that really matters comes to the surface. You know, there’s three areas in life that are always going to make people money, if you’re getting into any kind of product or service. Product or service. And remember these, right? It’s health wealth and relationships. Those three things, health wealth and relationships. So we’ll take one of those and give you an example on this, right? Let’s pretend we’re gonna, we’re gonna say it’s health, okay, we’ve had this big craze around semaglutide, which is ozempic. We go V there’s also Manjaro, I think it’s pronounced. It’s the weight loss medication that was actually designed for diabetes, for for diabetics, in the first place, you can give yourself injections. 

It slows the process of the food digesting in your stomach, slows it down so you feel fuller longer, and also releases a synthetic hormone into your body to make you feel full and eat less. It’s actually quite a brilliant thing. And it’s a peptide, you know, it is a pharmaceutical, but it’s not like a chemical. It’s a peptide. It’s quite groundbreaking with this stuff, you know. But here’s the thing, there’s such a craze for this stuff, because the price has not mattered to people who want to drop weights. It just hasn’t. That’s the outcome. And this thing has shown results in the quality of it is absolutely insane. Imagine if you went on this and like, oh, I only lost four pounds, right? But hey, you know what? Or maybe you got an alternative, because this stuff can cost as much. I don’t care what you’re looking at, because there’s compound pharmacies that are selling this stuff for less right now that some you know, like med spas, are delivering this, this injection for a lot less price. But if you go with the OG, with ozempic, or with we go v, if you go with one of those two things, it’s around $1,200 a month, $1,200 a month. It’s a lot of dough for this thing, but when you look at the results from like, Yeah, our average patient over six months is dropping like, 20 plus pounds. Like, oh, my God, I’m in all of a sudden. It doesn’t matter, because they focus on the quality of the product and what the outcome is. And some of these things from the compound pharmacies are diluted. They don’t provide the same types of results, and people are losing a lot less weight, and that’s because they sacrifice the quality to focus on price. 

So people who are saying, Yeah, price matters, but this is the thing. It’s like, if they want the outcome that you’re delivering because you’re focusing on quality, they are going to figure out a way how to pay for it. If somebody wants something bad enough, because the quality is that good and it can completely change their life in whatever it is, they’re going to find a way to pay for it. That’s because you focus on the quality price. It’s not that it doesn’t matter. It just becomes a secondary thing, and it becomes not a it’s too expensive. Thing it becomes, how do I do this? The conversation in the customer’s mind changes when they see the quality that your product or service delivers, all right. Number two of the three rules to success in business, the only three rules to success in business is focus on revenue generation, not your costs. You can hire people, right? But when you’re looking at the quality of things, there’s things like tools and vendors and all that stuff that are going to be more expensive. They just are, period. But the thing is, is that everybody around you is going to be able to contribute to this everybody that works for you at some point in time, when you grow enough, you can hire a finance person to work on your costs, as long as they can find the same thing for less. That’s good. 

Maybe they can negotiate better deals. Because if you’re focusing on something like revenue generation, and that’s the only thing that you’re focusing on, rather than your costs, you can continue to post more revenue, and now you have to buy more supplies, whether it’s to make your product or deliver your service. Now you have buying power because you’re buying more in bulk. You can actually just naturally get your crap, your supplies, your materials, for less money because you’re buying more of it, because you’re delivering more because you’re selling more because you’re making more money. Focus on your revenue generation, not your costs. So many people get tied up in this stuff and like, Oh, I got to save money here. I got to save up. Oh, my God, I heard this so much through the freaking pandemic. I haven’t brought that up in the pandemic or COVID a long time on the show. So but I heard that so much, people were freaking out, freaking freaking out, and saying, Oh, we got all these tools. We got to cut costs, we got to pull back, we got to conserve cash. And I’m sitting there, I’m like, Are you kidding me, this is the time to drive forward. 

That’s why I’ve pushed forward, and why I’ve been able to get to where I’m at and complete an acquisition in the company. Continue to grow, continue to look for more acquisitions, continue to move towards listing, reach out on a public exchange, continue to post up more revenue and put more cash in the bank than I’ve ever seen in my life, because I focused on fucking revenue, not the stupid costs. I hope you’re picking up my energy today, because this one really gets me going. Revenue is your best friend. Costs are just what they are. Have somebody else come in and figure that crap out after you’re doing your job and posting more numbers to the board, that’s your job. Put more up on the board. All right. Rule number three, in the only three rules to success that matter is do rules number one and number two. That’s right. Number three is just do the first two. It’s that simple. Take this out, because your bank accounts gonna grow with these things. Your relationships are gonna flourish. You’re gonna be able to do things, see things, have things that you never even thought possible, and all the all that other minutia will just work itself out when you do these two things.