TFS 332: When to Offer Discounts

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Panel

  • Jeremy Green
  • Erik Dietrich

Summary

The panel goes into detail on the most common reasons to give a discount, sharing experiences and whether or not it's a good idea to give these types of discounts. They generally agree that a "friends and family discount" is never a good idea and discuss the long term problems it can cause both in relationships and your business. The panel discusses offering a discount to get your foot in the door and to better your portfolio. Supporting non-profits and making sure you receive the proper credit for your work is discussed.

Offering discounts as part of your business model is considered, discounts such as paying upfront or high volume discounts, are weighed. Jeremy Green shares an experience and warning against helping a business just because you like what they are doing. The panel gives advice on how to say no to someone asking for a discount. They finish the episode with more advice on why to give a discount and explain some of the negative effects giving out too many discounts or giving discounts for the wrong reason can have on your business.

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Erik Dietrich:

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