Tag Archives: Pricing Strategy

Ralphie breaks into Richie’s office and learns 4 Pricing Secrets

One Christmas season, twin brothers Richie and Ralph each opened competing businesses selling (physically) exactly the same products and services.   Each of them spent the same money on advertising, attended the same networking events, and advertised in the same places.

But, in their first year in business, Richie made money while Ralph had growing cash flow issues.   So, over the following Christmas holiday, while Richie was with his family on a Disney Cruise; Ralph snuck into Richie’s store one night to see why this was the case.    Ralph shuffled through a lot of papers until he came upon a fairly thick binder called “Pricing Secrets to make more money than your twin brother in business.”  Besides being very perturbed, Ralph was curious and opened the book.  This is what he saw:

Secret #1: Never set prices purely based on costs

The customer does not really care what the costs of running my business are.  What my customer cares about is the VALUE that we provide to their lives.    If it costs $10, but our customer thinks the value is $1,000; then we will sell it for $900 and look like a hero.

That said, Secret 1a is that we must always understand our margins, gross and net:  where they are now, where they have been, and where they are going.  If we do not like dealing with “the numbers,” pay someone to do this for us.  Understanding our books can make the difference between THINKING we are making money; to KNOWING it.

Secret #2:  Since we CHOOSE what we sell, decide to sell only what improves the lifestyle of the customer enough for them to pay us a premium price

The companies that are able to command the highest margins understand not just the utility of their products; but also how their products improve the lives of their customers.     As a smart company, we realize that what we sell is OUR choice.    Everyone says you must “sell the sizzle, not the steak”; but this advice is useless if our product has no sizzle.

If our product IS seen as a commodity, and we find that we cannot make enough money in the business to sustain/improve our lifestyle,  we will sell something else.  If the new product costs more than our current customer can pay; then we will find new customers.  After all, we are not helping anyone if we go out of business because we sold low-priced products to poor-paying customers.

Secret #3:  The easiest way to improve the margin on our products is to increase the price above the “commodity-level” offered by our competitors,  add an additional value, AND also offer at least 2 premium options well above the price of our primary offering.

These MUST be done together.  If we just try to increase the price and add onto what we offer; the customer will see this as a tactic and buy a lower value product from Ralph.  But, by offering the two premium offerings; prospects will view us as a premium provider.  And, when they compare the revised offering to the higher level offering, two very good things can happen:

– They buy the premium offerings, and are glad that we offered this option;

– They buy the lower priced offering from us, getting more value for themselves while we get more margins and cash flow.

Secret #4:  Have a Documented Marketing and Sales Process to take prospects from never having heard of us to the purchase – and Execute it every day.

The reason we can price ourselves above Ralph’s shop across the street is because when customers walk into his shop, their salespeople say “Can I help you”; and people are always “just looking.”  When they come into my shop, I have a process to get the customer to discover what they want, why they want it, and then qualify themselves as a serious buyer.    Our process does not allow people to “browse”; it asks them to decide whether or not they want a purchase.  And, because we let them know that we are OK with “No,” they say “Yes” a lot more.

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There were several more Secrets, and Ralph decided that he might need to come back in a few days to read the rest of it.    But, for now, he knew what his next steps were; because he could no longer continue to keep funding his business while his brother Richie made big profits.

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Jim and Diane’s Trip to Chicago – Based on a True Story

Today I wanted to share a little story with you about a couple, Jim and Diane (based on a true story, so enjoy…).

One day, Jim and Diane decide to take a vacation.  They had both been working very hard, and would leave their comfortable house in the suburbs of Houston and visit Chicago.

So, one slightly misty morning, they packed up their new car and headed out.   They were excited, and knew that they could get there really fast if they took turns driving.  After all, the sooner they got to Chicago, the sooner they would be able to check into their hotel room.

They were going to LOVE Chicago.  They planned to stay at the Westin right on Michigan Avenue.   Across the street would be the “Magnificent Mile” of shops.  A quick elevated train ride would get them to the ballpark.  Fantastic food choices..the Navy Pier, the beautiful lakefront.  They had their whole visit scheduled perfectly.

So they backed out of the driveway and started driving.   Jim told Diane to get on the freeway, and she did.  They drove for a day.  Chicago, here we come!

They drove for another day.  They were getting closer..they just KNEW it.   They had a great car, and knew that Chicago would be fun!

But the third day passed, and Jim was getting perturbed.  So, he told Diane to drive faster.  And they drove for a fourth day.  Still, no Chicago.

Now it was Diane’s turn to tell Jim to drive faster.  And turn NORTH.  They stopped at a gas station, bought a compass, and turned North.

Day five….Day six…Day seven.  They now both wondered why, even though they were CRYSTAL CLEAR about their goal of going to Chicago, were driving a great car,  and were certain about what they would do once they got to Chicago; they never arrived there.

Finally, they looked at each other, and exclaimed, “We probably should have followed a map.”

Sound crazy?  Who would try to get anywhere that far away without a roadmap?

Well?  How many can honestly tell me that YOU have a CLEAR, step-by-step Plan to get from where you are NOW in your business to where you want to be?

The fact is: EVEN WITH A CLEAR GOAL, AND EVEN WITH GREAT PRODUCTS;  YOU STILL NEED A PLAN..A ROADMAP. 

Every day that you spend without one is time you will NOT spend enjoying your goals.  

It’s time, RIGHT NOW, for you to get that Map.  

This is my specialty:  helping you create that map.  It’s a crystal clear, what do you do today, next month, next year, to get to where you want to go. 

To enjoy your Goals….

To stop driving around aimlessly…

I have built these with billion $ and million $businesses, with start-ups, with businesses that have been around for 4 generations (even THEY need better roadmaps sometimes), and even with MLM’s.

Engage Now for a Very Special Year-end rate.  CLICK HERE  and reserve your spot!  As soon as my calendar fills up –  which may be today, and may be by Friday –  the year-end offer is over. 

PS.  It is OK for you to say “No” and keep driving around without a professional plan.  Just make sure that you DECIDED to do that; instead of letting it happen to you like it did to Jim & Diane..by default.

4 Ways that you Block your Potential Customers from Buying

“Sales cures all ills.”

Most people have heard that saying before.   Now, it’s not ALWAYS true (since I have seen a lot of business owners who do not understand that they are selling at a loss  – many of my Restaurant clients sell a lot of things at a loss, until I help them see why their profit is almost zero).

That said, if you have SOME margin control, increasing Sales DOES help quite a bit, wouldn’t you agree?

So, here’s the strange part:  many business owners – Restaurants, retail, even B2B – put up giant obstacles to getting sales from eager prospects.

What are the Top 4 ways you Block your Customers from Buying?

1.  You make it hard for your best prospects to hear or see you:  When I was working on marketing campaigns for Joe’s Crab Shack; one time we were doing a coupon as part of a “Welcome to our Email Club” campaign.  When Tilman Fertitta, our CEO, was asked about the coupon, he responded with “Do you think I use coupons?”

Somewhat of a humorous note; but an excellent point for you:  unless you have actually defined SPECIFICALLY who your best prospects are, you will not be able to create marketing that actually talks directly to those prospects.   Your prospect WANTS your product; NEEDS your product; will PAY for your product; but you create such generic messages that they never can hear you above the 10,000 other messages they get every day.  Your message of how you “have the best product, service and prices” makes you just another black and white penguin on an icecap filled with penguins.

2.  You get your prospect excited, then Ignore him.   Many of you have prospects out there who have heard of you and actually like what you have to offer.  They are ready to buy,  But, you do not answer the phone when they call to find out your hours.  Or, they call and leave a message, but no one ever calls them back.  Or, worse, they call and you transfer them to another line that never answers.

Maybe you have called them when they are busy themselves; but you forget to call them back, so they buy your product from someone else.

Yes, you are busy.  Maybe your restaurant is having a busy lunch, or you have back-to-back sales appointments; but, without a strong SYSTEM to ensure prospect contacts get answered. your customer will feel ignored.  And, just to be clear, ignored prospects rarely buy.

3.   You speak German when your prospect speaks French – I am not really talking about languages in the literal sense.  I AM talking about all of the advertising out there that is based on the business owner’s perspective, instead of the customer’s perspective.  Your lunch menu says that you have $8 lunches; but your customer really wants 30 minute lunches.  Or, you talk about the beauty of your landscaping designs, when your customer wants to know if what you plant will last more than 6 months.

Do some research, talk to current customers as well as people who do not buy from you; and find out the language they want to hear.  You may be surprised to find out that just a few tweaks in HOW you talk to potential customers can have a massive impact on how MUCH they buy from you.

4.  You “bring him the check before he sees the Dessert Menu” – One of my rules when we go to a restaurant is that, if the server brings me the check before I see the Dessert Tray or Menu, we do not order dessert at the restaurant.  That’s a lost sale for the restaurant, and lower tip for the server.

But, even B2B businesses do this: you find something your customer wants and you are so excited to get a sale; that you do not ask follow-up questions to see if there are more ways for you to serve them.  In your mind, you are yelling “Hooray,” while your customer is thinking, “I sure wish they would do this also, because I wanted it.”  You DO have that extra product or service, but the prospects don’t find out until they have bought that from someone else (when it’s too late for you).

To wrap up, how many of you have said or thought that you wished you had more sales?   Before you just throw more money at marketing, or offer more discounts; see what you might be doing to block the sales that are already waiting to come to you.  You may find that just a few simple adjustments can make a massive difference in your sales growth!

I really would like your feedback on this.  Is there anything else that you have found “blocking” customers from buying from you?  

Comment below, or email me at Roger@CoachRogerBoneno.com.

Marketing Lessons from a Tried and True Hollywood Formula

How many of you have seen the Hollywood love story formula (even if it was just because your girlfriend or wife wanted to watch it):

       Boy feels lonely

       Boy meets girl of his dreams, but girl already has a “boyfriend”

       Boy starts “courting” girl by being her “friend”

       Girl starts to confide in boy, who is a great listener

       By being true to himself, Boy’s “authenticity”starts to attract girl

       Girl realizes her “boyfriend” is not so great after all (or a jerk)

       Girl falls in love with her “friend.”

Interestingly enough, this formula is filled with lessons for you as a business owner.

Lesson #1: There are PLENTY of great customers out there to grow your business, even in a bad economy. When I talk to Restaurant Owners, for example, who say that the “economy”has hurt their businesses; what they are REALLY saying is that their customers have just made other choices.  Maybe the customer decided to stay home; or perhaps they just decided to go elsewhere.  You may need to change how you look; but your first job is to find out where your customers are.

Lesson #2:  If the boy had just walked up to the girl and said, “I’m a great guy.  Do you want to be my boyfriend?” he would most likely have gotten an awkward silence and then,“I already have a boyfriend.”  At that point, his chances of winning her over are tiny. But that’s what many businesses try every day.  They put ads out there that say (for example), “I have great food.  Come and be my customer.”  And your customer thinks, “I already have a restaurant I like to go to.”

Instead of just telling everyone that you are great; learn to listen to what customers are saying. You have to be careful here, because it is the subtext that is most important.  For example, your customer says they will try you out if you give them a “deal,” so you run big discount coupons; but they really just want to know WHY they should try you and how they could justify paying the price you charge.    When you run “deals,” you basically tell your customer that your product was not worth what you were charging; so they were right all along to go elsewhere when they are willing to pay “full price.”  This is why the data shows how so few “deal”customers ever become loyal “full price” customers (no matter how hard you want to believe that you can “convert” them; the fact is, once you set a “reference price,”customers fixate upon it).

Lesson #3: The girl who dates the boy because of his “social status” or other superficial reason, is never really happy; instead, she is just trying to avoid the perceived “pain” of being unpopular. And, even though she really would be much happier with someone else (like her “friend”), she won’t easily “break-up”with the boyfriend she is with now.    In the same way, many of your potential customers are absolutely “settling” for your competitors:  they are not really “thrilled” with their current choices; but they would rather stay there than risk changing because they fear the unknown experience.  So, your job is to help them understand why, if they come to you, they will not experience what they fear. 

Offer them a guarantee. Show them testimonials.  Create an active program to create “Raving Fans” who praise you online.  (This is why I include both Marketing and Operations improvement in all of my packages; because you do not want to bring in MORE people who will give you poor online reviews.)

Lesson #4:  It may not happen overnight; but maintain focus on what the CUSTOMER needs and they WILL learn to “love you.”  Listen to your customers, provide an outstanding product, great service, and a differentiated reason to come back; and your profits will grow exponentially.
Let me know your thoughts by adding a comment below.

Why Your Marketing is like the Eagles’ Song Desperado (A Musical BLOG)

When I was in High School, it took me an hour via City Bus to get across New Orleans to school.  Pretty much every morning, I would put an album on the record player (some of my readers may remember those) when I woke up at 5am.   One of my favorite albums was The Eagles’ Greatest Hits.

This was truly a great album, chock full of songs that, sadly, describe the marketing done by most small business owners (although that MAY not have been intentional).  The most applicable was “Desperado.”  Read below and see why the Eagles had a lot to teach you (song lyrics are in BOLD, BLOG in parentheses).

Open a new tab and play this while reading, for maximum enjoyment:  DESPERADO

Desperado, why don’t you come to your senses?  

You been out ridin’ fences for so long now (You have no clearly defined target market, so you try to market to everyone.)

Oh, you’re a hard one (You insist on doing everything YOUR way.)
I know that you got your reasons (Although your marketing is not very clear;)
These things that are pleasin’ you (since you market with tools you LIKE, not what will work.)
(All of these things) Can hurt you somehow.

Don’t you draw the queen of diamonds, boy
She’ll beat you if she’s able (Too much of your Marketing is all about the money and Price;)
You know the queen of hearts is always your best bet  (when your marketing should be about CONNECTING to people.)

Now it seems to me, some fine things
Have been laid upon your table (Many of you have great God-given talents;)
But you only want the ones that you can’t get (but you market to the wrong people.)

Desperado, oh, you ain’t gettin’ no younger (You procrastinate while time passes;)
Your pain and your hunger, they’re drivin’ you home (while your desire to “get rich” keeps increasing.)
And freedom, oh freedom well, that’s just some people talkin’ (You cannot believe others make money with less effort;)
Your prison is walking through this world all alone (since you’re trapped in a “do it yourself” mentaility).

Don’t your feet get cold in the winter time? (Your cash flow is tight, so you get cold feet about spending anything on marketing.)
The sky won’t snow and the sun won’t shine (But, without any marketing, your business struggles more and more.)
It’s hard to tell the night time from the day (Eventually, your business stagnates)
You’re losin’ all your highs and lows (as you are going nowhere.)
Ain’t it funny how the feeling goes away? (Until, one day, that PASSION that you once had for having your own business and “being your own boss” fades away).

Desperado, why don’t you come to your senses? (It’s time to break free from the Fear that has been holding you back.)
Come down from your fences, open the gate (Get off the fence and find YOUR right target niche.)
It may be rainin’, but there’s a rainbow above you (When you find your niche, go for it; even if the times are tough.)
You better let somebody love you, before it’s too late (Make your marketing about creating a BOND with your prospects so that they LOVE you; before it IS too late to save your business).

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Yes, you can play it again and sing along.  But after that, schedule a 15 minute call with meMarketing Guru, Financial Wizard, and Team Motivation Expert – and we’ll talk about how to build a strong Brand targeting your Ideal Customers:    https://my.timedriver.com/191CR

5 Reasons why Groupon is a Losing Con-Game

Here you go, kid.  It’s free.  Just try it!

And so begins the addictive use of…….

Groupons and LivingSocial Deals.

Do consumers love them..yes.  Are they good for most businesses?  ABSOLUTELY NOT.  They are a Con-Game that appeals to business owners who do not know how to sell their products or services for what they are worth.

Why are they a Con-Game?   To quote the great Sales Trainer Tom Hopkins, “If you are selling someone something that is NOT good for THEM, then you should be locked-up; because, when you do that, you are nothing more than a Con-Man.”

So, let’s list the reasons Groupons and LivingSocial “deals” are very poor business-building strategies:

1.  They appeal to “deal-seekers,” and not your IDEAL customers.  Statistically, deal-seekers are not looking to become loyal customers of a product; rather, they are loyal to whoever offers them the best deal.

2,  By a focus on price, and not value; they tell your CURRENT customers that the full-price they have been paying was too much.   When people think they have paid too much, they feel “ripped-off” and you easily lose them.  So, even when you gain a few “tryers” who come back later; you risk losing regular customers who WERE paying full price.

3.  Because they reduce your margins, they encourage (or force) you to cut corners on value delivery.  In a Groupon, if you offer a coupon of $5 for $10 of product; you only get to keep $2.50 (Groupon gets $2.50 – sweet deal for them.  Why do you think they sold it for so much money?).    Think about it…you are getting $2.50 for $10 of product!  I have run into several business owners who tell me that, because they get so many Groupon customers; they had to reduce the quality of their product to stay afloat.  That is a death spiral.

4.  They create an addictive reliance on the “Groupon” check.    The fact is, Groupons bring in people; so the business owner begins to think that they “work.”  Never mind that these are not loyal customers, that your margins are taking a beating, and that you have traded out your IDEAL customers for deal-seekers; the initial transaction increase sure looks good.  However, the longer you do them, the more of your customer mix becomes the deal-seekers.  So, just like a drug addict; you cross a threshold where you CAN’T quit.  I know of a Steakhouse in which 90% of his customers are Groupon or LivingSocial Deals.  His annual revenues are $1m, but he is losing money hand over fist; so he does not pay himself anything and his waiters get paid salaries because the Groupon deal-seekers do not tip well.   Every month, the check he gets from Groupon pays for the next month’s expenses (like a mini Ponzi scheme); when, as most coupons do, the Groupons lose their effectiveness, he will be in desperate trouble.

5.  The money you “pay” Groupon could be spent far more effectively building you as a BRAND, and not as a DEAL.  Just like any Con-Game, Groupon looks low-risk.  After all, they collect the money and then pay you half of what they collect.  If you sell 100 $10 for $20 Groupons, for example; you collect $500.  But, Groupon keeps $500.  Because that looks like a good deal, you may do it for a few more months.  Unfortunately, for the reasons above, you are not BUILDING a business; you are becoming a “deal-house.”  If you just took that $500/month for 3 or 4 months and put it into a good BRAND-building marketing campaign; you would be MUCH better off in the long-term. Unfortunately, once you start crushing your margins; eventually you have no money to spend on a well-targeted marketing campaign.

Am I passionate about getting people to stop using these deeply discounted deals?  Absolutely!  Just like a Cardiologist might not want to watch some eat fried foods every day (even though it tastes good); I don’t like watching business owners get taken in by the Groupon and LivingSocial Con-Games!

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Build a BRAND, not a deal-house.   Schedule a 15 minute call with meMarketing Guru, Financial Wizard, and Team Motivation Expert – and we’ll talk about how to build a strong Brand targeting your Ideal Customers:    https://my.timedriver.com/191CR   (PS.  even if you have not done a Groupon, call me.  🙂 ) 

How to Implement Stevie Wonder’s Best Business Building Tip

No April rain

No flowers bloom

No wedding Saturday within the month of June

(If you are feeling a little romantic, or WANT to feel that way 🙂 , watch here:  http://www.youtube.com/watch?v=QwOU3bnuU0k)

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I am probably revealing how old I am, but this was a very popular song when I was in High School.  So, why am I bringing this up in a Business Blog?

Because, while many business owners believe that “word of mouth” is a great way to build their businesses with less  effort; very often they believe that just having a great product and service is how to get referrals.    But, realistically, how many of you have received great service from someone, and MEANT to tell everyone about it, but never did?   You get busy, so you never do.   Or, maybe there was just this one thing…

This is where Stevie Wonder comes in.  His advice?  “Just [Call] to say I love you…just [call] to say how much I care.”   And Stevie says to do it not because of an occasion, but “just because.”   Here are some ways for you to do that:

1.  Send physical (NOT email) Thank You notes;

2.  Send them a little gift (or, if it is a BIG contract, a BIG gift…assuming you are not in a regulated field);

3.  Actually CALL them, and say how much you appreciate their business;

4.  Actively seek out a referral for them, or make a strategic connection that might help THEM;

5.  Provide a little unexpected bonus service.

Again…don’t just do these right after they give you money or because of a holiday; but do it when they might not expect it.  Perhaps you send them something midway through the contract period.  Or maybe a month after they bought something.  You CAN schedule it on your calendar, but just do not do it around any specific event.

And do NOT..I repeat..do NOT ask for more business or try to sell them something else at the same time that you do one of these.  Otherwise, it does not really feel like love.

The fact is, loving your customers and telling them (in words or unexpected actions) is a fantastic way to get more referrals AND more business.     Plus, when there is love, they will overlook minor faults,  forgive errors, and are loyal based on more than price.

PS.   This assumes that you really DO love your customers.  If you do not, then you are just a “Con Man” and need to be in a different business (or jail).

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 Schedule a 15 minute call with me – Marketing Guru, Financial Wizard, and Team Motivation Expert – and we’ll make you Love what your business can do for you:    https://my.timedriver.com/191CR  The Call is free, unless you don’t schedule it…then, your opportunity cost is expensive!

The 5 Diseases of Business Owners that Cripple their Success

After working with dozens and dozens of businesses, from billion $ public companies to startups, I see many very smart and very nice business leaders suffering from disorders that are crippling their chances for achieving amazing success.  Based on my experiences, here are the top 5 diseases afflicting business owners:

1.   Independitis – The feeling that, because they need to be “independent,” no one else can help them.  The problem with this is that, if your expertise is in AC Repair; you would be much better off if you spent your time repairing AC’s while getting expert help to work on your Marketing and Sales tactics or coordinating your schedule;

2.  Blamethemenia – The belief that, when sales go down, it is because of “the economy,” “dumb prospects,” or “unfair competition”; when the real issue is an uncoordinated marketing plan (or no plan at all).  This is often an outgrowth of a previous case of “Igetallmybusinessfromwordofmouthia.”

3.  Denialopathy – When what “used to work” is not delivering results; you refuse to believe that you need to make a change.    You keep denying anything is wrong; even as your bank account dwindles rapidly.  Or, when employees perform poorly, you believe it is because of their lack of motivation or laziness; when YOU hired them and do not have a well-designed team building plan, training system, or job description manual.

4.  Putitoffinoma – When you delay doing what you KNOW you should; because you have rationalized that you can just do it “later.”  Sadly, all those “little” items eventually pile up and spread, so that your business dies a painful death; even though you HAD the knowledge to make yourself successful.

5.  Flybytheseatofmypantsology – You have no Plan; no strategy; you do not know what numbers you should know to track the health of your business; and you have not set a goal for the next month, the next quarter, or the year.  The biggest symptom of this is a business owner who is working 14 or 16 hour days, and keeps hoping that things will “get better” if they just “persist” and “persevere.”  Unfortunately, days, weeks, months, and years pass and nothing gets any better.

Other symptoms are:

-you cannot take much time off without worrying about your business; you have to tell your employees OVER and OVER AGAIN how to do something that seems so simple to you;

– your final profit margins are a lot lower than you expected, based on what you charge for your product;

– if someone asked you what your average sales were over the last few months, or what your most profitable products are, and why, you do not know;

– and, if someone offered to buy your business right now and pay you to not work, you know in your heart that the business just will not run as smoothly without you managing all of the details.  This disease actually is often accompanied by “Youownajobia.”

The fact is, many business owners suffer from more than one of these maladies.  And, even though these are “curable” with the right prescription and ACTIONS, how many of YOU still continue to suffer and hope it gets better on its own?

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Everyone knows that early detection of any disease greatly enhances your chance of a cure.   Waiting is just allowing the disease to become more entrenched.   Let us give your business a thorough “Exam.”   Just like a Doctor, I will ask you some questions about your business; and then we’ll work on the “cure.”  Use my online calendar to schedule a 15 minute call to learn more.   https://my.timedriver.com/191CR

Sales Lessons You Can Learn From Scooby-Doo

How many of you would like a 100% “Capture Rate” in turning prospects into customers?

Well, Scooby-Doo and the “meddling kids” DID capture 100% of “prospects.”

Yes, I know it was a cartoon.  But, if you watched closely, you could take away some lessons that might just increase YOUR ability to convert prospects to customers.

Lesson #1:  Have a Strategy to bring the prospect to YOU, even if you feel a little intimidated.    The kids never really caught these “scary monsters” by chasing them.  Instead, the team created a strategy to get the creature to fall into a trap they had set.  Now, I am not saying that you need to “trap” your customers.  But, I am telling you that you are far more likely to get a sale if you LEAD them to you based on a defined plan.  Will it work perfectly every time?  No.  However, you have a much greater chance of success if you have a strategy for them to want to chase YOU.

Make yourself interesting; ask a lot of questions; and create more compelling marketing than “we have provided great service at reasonable prices for thousands of years” (see Why Most Marketing Copy is Terrible).

Lesson #2:    Your prospect is not a Monster; they are just a person.  You do not have to be afraid to prospect.    Interestingly enough, even though EVERY time the “monster” turned out to be some crook in a costume; these kids acted like it was real the next time it happened.    The kids in the “Mystery Machine” never seemed to connect the dots.  But…YOU CAN.  Many of YOU will not prospect because you have mentally put your prospect into a monster costume.   You are afraid of the terrible consequence if they say “No.”  But, as a former VP I worked with once said, “They can’t eat you.”

Lesson #3:   Find out what your “Scooby Snack” is; then use it.  I do not know what was in those things, but they must have been amazing for a dog AND a person to be willing to face mortal danger in exchange for a couple of bites.   Of course, most of you are not facing mortal danger; but, you DO face the unknown.  So, maybe you need to listen to a favorite song, a motivational CD, speak some affirmations to yourself; read some previous customer testimonials, or get someone to “pump you up” before making your sales calls.  Whatever you need to do, it it perfectly OK, and even recommended (although, I cannot recommend that you eat dog treats for strength..unless it works for you 🙂 ).

Lesson #4:   Watch for clues, and then be open to information and inspiration from those clues.    If you watched Scooby-Doo, there was always some point at which Velma would say “Jinkies”; because, suddenly the clues added up.  Not only would she have an idea of the “who,” but also the “why.”  For many of you, if you do your research, your customer will leave you clues as to whether they are the ideal candidate for you.   Also, with the proliferation of Social Media, websites, and online reviews, and the expertise of companies who can do research for you; you can discover specific factors that will help you create more targeted marketing, as well as be far better prepared when you are prospecting and presenting.

Many companies spend very little time researching their markets’ and their customers’ specific needs; then wonder why their marketing is ineffective and their prospects are “shopping” them and then negotiating on price.

As a side note, CONTINUOUS research is essential.  Just because your product/menu/service were the perfect solution 6 months ago does not mean they are still appropriate. 

Lesson 4.5:  Relax and watch some Scooby-Doo this week.  Give your brain a break. 🙂

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Are the “Monsters” of the Economy, unmotivated team members, and/or cash flow stresses chasing you and your business?   Take the Mystery out of having a business that makes you more money with less stress.    Contact me for an initial consultation, business analysis, and ideation session.  Use my online calendar to schedule a 15 minute call to learn more.   https://my.timedriver.com/191CR

Proof that Most of You REALLY Do Not Believe in Your Business

I know what you are thinking. “What is Roger saying?  Of COURSE I believe in my business.  After all, why else would I be doing it?”

Well, to be honest, I really don’t know why you are doing your business, either.   Because, very plainly, the facts speak for themselves.

Here are four very clear signals that you just do not truly believe in your business (and NONE of these are that old-fashioned notion that you “would do it for free”):

1.  Your “pipeline” is not full of potential customers, and STILL you do not prospect enough.   Ask yourself this:  If you saw a burning building, and had a hose in your hand that would be guaranteed to put out the fire, wouldn’t you point the hose at the fire and turn it on?  So, if you are not prospecting, that’s pretty good evidence that you are not a real believer that your offering is a real benefit to others.   If you really thought it was amazing, you would do whatever it takes to find more people who need it.

2.  You discount your prices.   Let’s say the test results come back, and you need to have your knee replaced.  You go to the hospital, and they ask you who you want to have operate on you:  Dr. Joe, for $3,000; or his fishing buddy Mike, an accountant who has seen “House” a few times, and will do it for $2000.   That’s $1,000 cheaper!   Do you think Dr. Joe is going to buy your argument that, because Mike is $1,000 cheaper, Dr. Joe should lower his rate?  I doubt it.  Because he knows it takes skill, experience, and knowledge to do what he does.  If you REALLY believed that you have strong skills, experience, and knowledge in your business; you would not discount either.

3.  You insist on “staying small.”     Again, back to the burning building.  You have the hose, the building is on fire; now would you just put out the fire on one part of it, or would you try to put out the WHOLE fire?  I’m hoping that most of you would put out the whole fire.   If you REALLY believed in your business and its ability to benefit others, you would try to build your business so that it could serve more people.  Or, is your talk about wanting to “help others” just a cliché’?

4.  You do not invest in a Coach/Consultant because it seems “expensive.”  This is a LOT of you, isn’t it?  So you are working 12 – 14 hour days; your sales are not as strong as you had hoped; but, you think you can “figure it out on your own,” “it is not the right time to make the investment,” or you “want to wait until you can ‘afford’ it.”   Given that independent research has shown that, if you really implement what you are taught, you get $5 for every $1 you invest in someone like me;  if you REALLY believed in the long-term potential of your business, you would figure out any way possible to make that investment.   Even the BEST investors rarely return $5 for $1.   So, your delay in getting help is just your belief that your business is not really a long-term solution.  In fact, waiting to invest is telling your subconscious that you want to “see if this business works out.”

Interestingly enough, if you do #4, I’ll show you exactly HOW to avoid 1-3.

I always welcome comments.  🙂

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