As an entrepreneur I’m not afraid of ‘considered’ financial risk. Just like any Plumber or Electrician would guarantee their workmanship, we must provide a satisfaction guarantee. It’s a great way to reduce purchase barriers. Something most successful brands do…. here’s a little exercise for you: Next time you a buy a household cleaning product or chocolate bar, flip it over and read the fine print and *bang* you’ll see a money back satisfaction guarantee. We must provide that too.
I’ve also done this on my latest little project Startup School. Here’s a recent conversation I had with my wife over email:
ME: Hey check out my Startup School receipt – pretty cool huh? (below is a part screen grab of said receipt)
Wife: As a law graduate of course, I would nervous about making guarantees but up to you… Like the poetry!
Me: One must embrace risk in entrepreneurial fields and guarantee work, or revenue wont happen. it’s that simple. It’s a risk I’m prepared to take.
Wife: I know….that’s why YOU’RE the entrepreneur!