Over the course of the years of growing my business, I have learned the concept of the little “c” and Big “C” And A little “b” and Big “B” in business. These concepts are simple but real.
The little “c” stands for Cash and the Big “C” stands for Credit or Checks. Cash has a lower threshold of resistance. People willingly will pull out a $20 bill in person to purchase a book or other product. You can even do $50 transactions with limited resistance, but once the level hits $100 or more, there is more resistance, and then have to think about the value of the transaction a bit more. That does not mean that people won't pull out a credit card for a $20 transaction, the resistance is still low.
The Big “C” usually means more has to happen to convince people to part with their hard earned resources. When you are charging hundreds or thousands of dollars, people have a need for more research, trust, and a feeling of value.
The little “b” stands for small business and the Big “B” stands for Big Business. In general, a small business is (in my opinion) a business making less than $50K per year. A Big Business is one that makes $100K or more. This is especially true for solopreneurs and entrepreneurs. There are $1,000,000 businesses that are cash poor and can't afford to invest in your products or services.
In this episode, I will explore how these audiences can be served best and how you could and should have offerings of how to meet their needs for what you have to offer.