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“Bob Burg is the greatest teacher of networking in the world ”

~ John Milton Fogg, author, The Greatest Networker in the World

Archive for the ‘The Go-Giver’ Category

Make Yourself DiscountProof

Thursday, July 6th, 2017

Make Yourself Discount-Proof - Bob BurgAre you often asked to discount your fee or price?

Typically, when a prospective customer or client balks at your price, it’s because they believe that the value of your offering is less than what they are being asked to pay.

But, not always. There IS another reason. It’s this…

They subscribe to the theory that one should never accept the first price; that every price is negotiable.

In other words, yes, they absolutely believe the value of your product or service exceeds the price. They want to buy. They just want to get the lowest price they can.

We believe that if the fee you charge is appropriate then there is no need to discount it. You are providing absolutely exceptional value and should be making a very healthy profit.

As the first of the Five Laws of Stratospheric Success in The Go-Giver, the Law of Value states:

Your true worth is determined by how much more you give in value
than you take in payment.

But They Still Want You To Discount

This can be unnerving, right? After all, you’ve worked hard for this sale. You’ve already invested so much time, research and sweat. You don’t want to lose it. (By the way, all of this is exactly what that person is counting on you feeling.)

Good news: You can maintain your fee.

3 things must be in place:

  1. You know you are, without question, worth what you are charging.
  2. You have effectively communicated value that exceeds the price.
  3. You phrase your response respectfully, confidently, and tactfully.

One of our clients who we’ll call “Brenda” owns a private-duty nursing company. She recently received a call from someone who’d seen her advertisement. It was a woman who — along with her siblings — felt it was time their 90-year-old Mother had a professional nurse with her throughout the day.

Brenda did the discovery, quoted her fee of $30 per hour, and provided a number of references. Her fee is a bit higher than many of her competitors, which Brenda let her know.

Two days later she received a text from the prospective client saying:

“I discussed this with my brother and sister. We’d love to hire you. If you would agree to $25 we’ll go ahead and sign the contract with you right now.”

What Did Brenda Do? What Would You Do?

While $5 per hour might not sound like much, it actually has two effects:

  1. Over time it is significantly less money.
  2. More importantly, it tells you — and the marketplace — that your market value is $25 per hour, not $30.

Brenda texted back a very nice message that said:

“Good morning, Sue! Thank you and I completely understand if my fee is not in your budget. Your Mom sounds lovely and it would be my pleasure to help out if circumstances change.”

Just moments later Brenda received a return text that said:

“Please don’t walk away. We will pay $30 an hour and we’re so excited to have found you. We will make it work. Please reconsider.”

As Brenda Suspected

It simply was a matter of their instinctively trying to get a better price.

Notice what Brenda did:

  1. Knowing her value she made the decision to stand by her fee.
  2. Rather than react with disgust, disappointment, or indignation she responded with respect, confidence, and tact.
  3. She thanked the person, complimented their Mom, and shared that it would be her pleasure to work with them if circumstances change.

Again, because she had done a thorough discovery of what the family was looking for and communicated her value accordingly, plus backed it up further with a number of testimonials, she was very confident that the only reason for the price negotiation tactic being used by the children was because they felt that’s what they were supposed to do.

With that in mind Brenda’s job was to handle the objection correctly, which she did. And the family will benefit greatly, as will Brenda’s company.

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We’re always delighted to know that our clients have benefitted from the principles we teach in order to have more lucrative and more enjoyable businesses. Would you like to work on your business in-depth and in person with Kathy Tagenel and me over a very special two days?

Registration is open for our final Go-Giver Sales Academy Live Workshop in 2017. It will be held in Orlando, Florida, and it is limited to just 10 people as we go deep into helping you accelerate your business. Special early registration pricing ends July 12th or until we are filled up (whichever comes first). Check out the rave review from past attendees. I hope you can join Kathy Tagenel and me, and up to nine other successful entrepreneurs and salespeople. Visit gogiversalesacademy.com

Giving and REALLY Receiving!

Friday, December 16th, 2016

Bob Burg - Giving and REALLY ReceivingEarly on in The Go-Giver, Joe, upon realizing he would not land a desired account, referred them to one of his competitors who was in a better position to help them.

No, he didn’t want to do that, but he understood it was the right thing to do for the client.

This later came back to Joe in a big way.

Of course, it doesn’t always work out like that. After all, life is life. Then again, that’s not why you make that referral.

You do it because it’s in the best interest of the customer. That’s the only reason for doing so. And, that’s the only reason you need.

The definite result is that you feel good about doing what you feel was right. The very likely result is that the customer feels good about you, trusts you, and respects you. And, he or she is very likely to come back to you when you can help them.

It also might result in some serious referrals, as well. After all, a person can’t feel much safer referring someone they care about to a salesperson who has demonstrated that their ultimate objective is the client’s best interest.

John David Mann and I provided an example of this in Go-Givers Sell More, and we’ve both seen it and experienced it personally in our business careers.

So has Erin Bradley.

Erin is a mortgage lender based out of Winter Park, Colorado. She also wrote a fantastic little book titled, Pursuing Freedom in which she shares her methodology for growing her business through referrals.

At one point, Erin relates an incident where a prospective customer asked if she could help refinance her home. Unfortunately, Erin’s company was not able to assist her.

As she describes it:

“Rather than give her the bad news and leave it at that, I researched a few local banks and found one that could help her. Despite not having done the loan myself, she was grateful for the direction and began referring business my way. To this day, I can easily count more than 30 transactions over the past few years that came to me as a result…”

30 transactions!! Again, it doesn’t always work out like that. However, when your goal is to help the customer regardless of the outcome for yourself, the sale will occur directly much more often than not. And, even when it doesn’t, the seeds of goodwill you’ve planted will create that benevolent context for your success both short-term and long-term.

Yes, placing the other person’s interests first is actually the most profitable way of doing business.

Can you share a similar story? We’d love to hear it!

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We’re now offering an online course version of our Go-Giver Sales Academy! Want to accelerate your success in 2017? Now is the time to make it happen.  For more information, click here. Get ready for your business breakthrough.

“Paws” for THIS Customer Experience Story :-)

Sunday, November 13th, 2016

SimoneSpeaking at a client’s annual national conference recently I had an opportunity to meet Nancy Weil. Nancy is an author, the founder of The Laugh Academy and also presented at the event.

While we were talking about our pets, Nancy related to me one of the best customer experience stories I’ve ever heard.

Her dog, Simone, had to have emergency surgery to save her life. Fortunately, the specialists at the emergency veterinary hospital did an excellent job. Simone will live without half her lung, but with plenty of love from her human parents.

Also, fortunately, Nancy had taken out an insurance policy from Healthy Paws Pet Insurance & Foundation when she first got Simone. Being that the bill was $3500, the insurance came in very handy. The company handled everything quickly and honorably and Nancy could focus her attention on her fur child rather than on the money.

But, it was what happened next that really made it special. She soon received an email from the insurance company that read as follows:

Hi Nancy,

We were wondering how Simone is recovering from her major surgery? We’re sorry to hear she had to go through that and send wishes for a quick recovery!

Please send a quick email letting us know how she’s feeling and giver her a great bit hug from us!

Sincerly,
Tim Weiss,
Paws & Claws Protector

There are multiple lessons to learn from this. And, rather than coming up with my own here, let me ask you instead to read Nancy Weil’s fantastic post where she shares them beautifully!

I hope you enjoyed her post. I know I sure did.

And, if you’re interested, visit Healthy Paws and check out what the rates would be for coverage on your fur child. (I already did!) 🙂

Just from Nancy’s post I’d say they are the very embodiment of a Go-Giver company!

Is This Contrary to Being a Go-Giver?

Sunday, October 2nd, 2016

Cold Calling - Bob BurgA reader recently emailed me the following:

“Hi Bob, I love being in sales and want to make a difference. The company I just started working for is very focused on cold calling, and closing on the first appointment, which seems contrary to the approach in your and John’s book? I love this company but how do I reconcile this with the Go-Giver principles?”

My response:

Actually, cold-calling is a very legitimate part of sales. It’s certainly not as productive (or fun!) as when you have tons of referred prospects who are predisposed to buy from you. However, when there’s no other way to obtain these qualified prospects other than through cold-calling then that is the way to go. There’s certainly nothing inherently “contra Go-Giver” by doing so; not if what you’re selling is adding significant value to them.

Regarding a one-call close, the same principle applies. Remember, a sale, whether one-call or multi-call is a matter of communicating value to your prospect in such a way that they understand that they are receiving more in use value than what they are paying. When that’s the case they will buy from you whether it’s one call or after many calls.

At the same time, if they never feel they are receiving sufficient value in exchange for what they are paying, they will never do business with you, again, number of calls aside.

Some businesses lend themselves to a one-call close. {Note: the questioner’s business falls into this category.} Others do not, and to try and force that would be counter-productive, manipulative, and sale-focused as opposed to customer-focused.

Understand that with a one-call close type of business you’re going to have to — within that call — establish the know, like, and trust feelings as well as ask the right questions in order to successfully discover what they are looking to accomplish. Then, assuming they understand how the benefits of your product or service can fulfill their wants, needs and desires, they will take ownership.

The Go-Giver framework is all about focusing on bringing value to others. Do that effectively and you will prosper greatly in your business, regardless of how you find your customers and how many calls or visits before the sale occurs.

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Want to accelerate your success in 2017? Now is the time to make it happen. Attend our upcoming Go-Giver Sales Academy in Orlando, FL and work closely (limited to just 10 people) for two full days with Kathy Tagenel and me, along with 9 other very successful entrepreneurs and sales professionals. For more information, click here. The Go-Giver Sales Academy is where your business breakthrough can occur.

Build, Encourage, And Recognize Your People!

Wednesday, May 11th, 2016

David-Novak-O-Great-OneWhen John David Mann and I talk about “Building Your People” (Key #2 from The Go-Giver Leader) we mean that in a couple of ways: one is to teach, mentor, and coach them to becoming more effective, both in their defined role within the organization as well as in their own ability to lead others.

Second is to make them feel good about themselves: protected, loved, and valued member of the business family. And, a person whose abilities we believe in.

The first part makes intuitive sense to many who look at leadership in the traditional way. The second part, not always so much.

There’s a tendency for one to feel, “Well, that’s all very nice — warm and fuzzy and all — but maybe we should wait until we’re making some serious money before we go that route.” Not to mention, after they’ve already proven themselves to be worthy of our caring.

Of course, there’s a very powerful and counterproductive false premise at work within that last thought process: namely, that building your people is a luxury that can wait until “after they’ve already…” And, that your company will thrive if you wait.

Building your people, before they’ve proven themselves, while they’re doing so, and on an continual basis is vitally important to the success of your organization. We see it time and again in the hugely successful companies. We see the opposite in the less successful companies. And — something I hear from employees constantly — we see this in once great companies that are now struggling.

Did they forget that it’s their people who made them great? Apparently, yes.

I had the opportunity to read a copy of the just-released business parable by David Novak, Former Chairman and CEO of Yum! Brands (Pizza Hut, KFC, Taco Bell).

The book is entitled, O GREAT ONE!: A Little Story About The Awesome Power of Recognition.

David’s list of business and leadership awards — including one of the “100 Best Performing CEOs in the World” by Harvard Business Review is long and well-deserved.

I mention this because a huge part of his leadership success was the ability to build his people in both of the above-mentioned ways. He did this through recognition; one of the most powerful forms of building a human being.

As the protagonist in this book, Jeff, pointed out:

“First we’ve got to fire up our people, who will then help to get our customers excited about doing business with us, and from there the money will follow. Too many business leaders focus on making money first without considering the fact that it’s people who will make it happen.”

A couple of pages later, when responding to one of the skeptical members of his leadership team, he explained:

“What I don’t think you realize, Anna, is that this isn’t fluffy stuff. It’s very much about results, about recognizing and rewarding the kind of real results that make a difference to this company’s bottom line. And it’s about driving future results by sending a clear message about what behaviors lead to results.”

Anna still didn’t quite get it at that point, but eventually she would.

What today’s top leaders hope is that more and more leaders come to fully understand it. Company slogan’s such as, “Our people are our greatest asset”, “we care about our people” and others are just that; slogans. And, meaningless ones at that…until a culture of this type is created, consistently communicated, and endlessly cultivated.

And that will only happen when today’s leaders understand that there is nothing soft about it whatsoever.