What is emotional discounting? It is when we start abandoning business models and pricing structures and allow emotions to drive or impact our revenue, prices, decisions, etc. In this salon industry blog, 2 Reasons Why It’s (Too) Easy to Emotionally Discount, the author explains the dynamic of what happened to cause a stylist to discount hair coloring, then offers some insight and tips. As you read this little story, begin considering the dynamic we face and the need for balance.
In Restoring Success, Nothing is Scarier than Scope Creep, emotional discounting is presented as a root cause of scope creep. Emotional discounting can result in problems during the execution of a job and have a direct impact on job profitability and ultimately the company’s bottom line.