Speaking poorly about your competitors is poor form. It can make you look petty, jealous, and; as if you are trying to build yourself up by tearing them down. That said, you do need to be able to differentiate yourself and your offering from your competitor’s.One way to do this is to speak highly of your competitors as individuals and companies, and attack their business model instead (I mean “business model” in the broadest sense here). The fact of the matter is, your competitors are doing good work or they wouldn’t have the clients they have, and a lot of the people that work there are smart, hardworking people. It’s also true that they do things differently, and those differences are not insignificant.The best time to inform your prospective client that your price is higher is as early in the process as possible. It’s also the best time to educate your dream client as to why your price is higher, how it results in better results, how it results in a lower cost, and why you have made different choices from your competitors.This is how you ensure every competitor with a lower price is recognized as requiring your prospective client to make concessions, or poison the well.If your prospect invests less in areas important to producing the results your dream client needs, explain that many people in your industry (not naming names) make much lower investments in these areas so they can provide the lower price. Then explain why those investments are important, and how a lower investment puts their results at risk.You also explain that you do some things differently than your competitors. If there are things that you do that are necessary to producing better outcomes, you need to explain what they are and why you go to the extra effort. Then you have to explain that other companies make different choices and that you have discovered that choices require concessions that your clients are unwilling to make. This is why you do things; it is what is truly necessary.As you share these ideas, you are providing your prospective client with an understanding of their choices, and the questions they are going to ask your lower priced competitors. You are also establishing yourself as differentiated, better, and worth paying more to obtain. The time to establish this is early, and the longer you wait to do so, the less effective this approach will be.You may not win this game every time. But you will win more often, and you will sell at margins that allow you to deliver the outcomes you sell.
zoomImage Courtesy: Wison Offshore & Marine (Wison) Exmar’s floating liquefaction unit (FLNG), to be renamed Tango FLNG, has left China and is headed to Bahia Blanca, Argentina, to start its liquefaction operations.Tango FLNG’s voyage to Argentina is expected to take approximately 45 days. The vessel was hired by Argentina-based engineering firm YPF under a ten-year agreement, and it is expected to start up LNG production in the second quarter of 2019.Under the deal, Exmar’s FLNG barge will produce and export LNG from the Vaca Muerta source at the Neuquén Basin in Argentina. The project marks the country’s entry to the club of global LNG exporting nations, with an initial plan to export 500,000 tons of LNG per year to overseas markets.Up to eight LNG cargoes per year are expected to be produced over the ten-year period, Belgian owner and operator of gas carriers said.Tango FLNG is designed for a liquefaction capacity of about 0.5 million tons of LNG per year.Exmar disclosed earlier that the hire rate of Tango FLNG is partially based on a floating rate with an expected EBITDA of around USD 43 million per year based on the estimated production of the Tango FLNG with upside potential depending on the market environment.