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How to Win More Profits by Giving Less Value

I used to hate Southwest airlines.

How could I not?! They took away all the things that did flying semi-digestible and did everything that pissed me off.

I like specific seats. Fly mostly first class. And don’t like waiting in lines. So this whole idea of lining up like a bunch of sheep heading for slaughter, not having an assigned seat, and not even having first class seating – utter nonsense!

But lately they’ve been winning me over.

I guess having two daughters in college, each about 350 miles away in a different direction, on a route conveniently covered by Southwest’s low fare flights, coupled with their frequent flier program eventually worked its magic.

Just last night I was flying back from visiting my younger daughter at the Santa Clara University (go Broncos) and while being wowed by Southwest’s flight attendants’ friendly service and funny antics I realized that their maverick approach follows closely my “create your own playground” advice for building a successful business that you love.

Now, look, I’m just a passenger, not an industry expert.

So please, don’t email me arguing how I have no idea what I’m talking about and how Southwest sucks as an airline.

Love ’em or hate ’em, you can’t argue with their record of 41 consecutive years of profitable performance while most other airlines merged, barely survived on government bailout money, or just died and are long forgotten.

So just grasp the lessons, use them to wow clients, out-pace and out-profit competitors, and build a business that’s more fun (and lucrative) to run.

Here are three of Southwest’s strategies you can copy for your own profits…

 

1. Screw the industry dogma; do it your way!

 

Your industry might not be nickeling-and-diming its customers to make their bags fly with them, but it sure as heck has some “flaws” that irritate the crap out of people.

What are the things that you’re doing in your business just because everyone else in your market is doing them?

How can you do it differently, stand out and profit more?

 

2. Turn boring into fun!

 

If you’ve ever flown Southwest you know how they turn all their announcements, especially the boring “safety bit” before the takeoff, into an impromptu comedy act.

It actually makes you want to listen when before you couldn’t wait to them to just shut up and leave you alone.

In the land of boring, stiff, corporate mambo-jumbo lingo go out on a limb and inject your personality into your messages.

Will it rub some people the wrong way? Sure. That’s just PET formula in action.

But the peeps that love it will go out of their way to reward you with more business just to keep you in business!

Anyway, find the pockets (or oceans) of boring in your business and find a way to make them fun. I think you’ll quickly realize that fun is good for profits. Very good!

 

3. Re-frame and cash-in.

 

Just as Southwest started to grow on me, other airlines started to rub me the wrong way; mainly for treating me like an idiot and hoping I wouldn’t notice.

I told you I like flying first class. Problem is that on shorter flights, like the ones I’m on to visit my daughters, first class simply means I’m sitting in the first three rows. That’s it!

So now I’m paying as much as two, maybe even three times more, just to sit in the same crappy seat as the 6’3″ guy one row behind me who kicks his knees into my back every time he blinks!

Or wait…

But I also get some sticky substance called a “warm meal” and an unlimited supply of cheap wine. Well, with that kind of “royal treatment” I totally don’t mind the crappy seat at twice the price… NOT!

However, remember, I also don’t like to wait in a line.

So what gives?

Southwest found a way to appease the “privileged pricks” like me who live for the pleasure of getting first on the plane.

For a small fee they’ll bump me to the front of the line. Now I get the first class feeling for the not so first-class-size fee.

And I actually feel great about it! Even though I’m paying extra for nothing – for making me feel special and letting me board the plane first. Everything else is the same!

 

In every industry there’s a group of customers that are willing to pay extra – just to get that feeling of being special.

 

Maybe our mothers didn’t love us enough, or we felt like our fathers thought we would never become enough… I don’t know the reason, I just know it happens.

So why not monetize it, right?

Take a fresh look at your business and I bet you’ll easily find opportunities to serve that elite group of clients who are willing to pay a premium for a “bump to the front of the line.”

Frame your offers right and you just might find a gravy train that can double your business with little or no extra work.

None of this is “business as usual.” It requires “growing a pair.” Or at least having a thick skin.

Because the moment you step off the beaten path industry critics will rip you to shreds. But if you can stomach a few cheap shots from the “dinosaurs,” you’ll be the one laughing all the way to the bank at the end!

Give it a shot, will ya?