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“A no-nonsense approach to building your business through relationships.”

~ Jane Applegate, syndicated Los Angeles Times columnist

Posts Tagged ‘Bob Burg’

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

A Very, Very Important Question

Saturday, May 20th, 2017

A Very, Very Important Question - Bob Burg

    1. Cleaning out some files I came across one of the many quotes and sayings I’ve cut out and saved over the years.

It contains such wisdom that if we’ll only keep it in mind and ask ourselves this question on an ongoing basis we have an excellent chance of attaining that which we truly desire.

“Is what I am about to say or do consistent with my Life’s Mission?”

I don’t know who originally said or wrote that* but I think it is about as perfect a question as can be asked.

After all, if we were to frame everything we’re about to say and every decision we’re about to make in terms of congruency with that question, well…it’d pretty difficult not to meet with huge success.

Of course, we all make mistakes and even keeping that question at the highest part of our conscious awareness is certainly no guarantee of always doing the right thing.

But wow, it certainly ups the odds, doesn’t it?

So, what is your life’s mission? And, what might you do to get into the habit of asking yourself this very important question constantly and consistently?
 

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* And now I do know. It was the great, Joe Tye from his book, Your Dreams Are Too Small http://amzn.to/2r6qNRt

Listening… Now That’s a Thought

Monday, June 6th, 2016

Listening-telemarketersReceived a telephone call from a company doing a survey:

Me: Hi, this is Bob.

Caller: Is Bob there?

Me: Th…this is Bob. Good morning.

Caller: I’m doing a survey regarding children and television. Do you have any children or grandchildren under the age of 13?

Me: No, I have no children.

Caller: I see. Do you have any children or grandchildren under the age of 13?

Me: Um, well, I…I have no children, thus no grandchildren, and none of the children or grandchildren that…I don’t have are under the age of 13?

Caller: I see. I won’t bother you then. Thank you for your time. Have a nice day.

Me: You, too. Bye-bye.

The moral of the story?

I don’t know.  Okay, there are many lessons. While working from a basic script is fine, actually listening to someone after you ask a question is obviously very important.

What other lessons might we take away from this?

And, in case you are wondering, yes, I was very polite and no, I was not snarky. It’s not my style. Though, I must admit, I struggled just a teensy bit with that.

Don’t Eat The Marshmallow … Yet!

Monday, April 2nd, 2012

How big a role does self-discipline, the ability to delay gratification, play in one’s success? And, how early in a person’s life can we forecast their inclination to such? A famous study at Stanford University in 1972 by psychologist, Walter Mischel, apparently discovered this very key link and how to quantify it.

Don't eat the marshmellow yetMy friend, Dr. Joachim de Posada, CSP is a psychologist, speaker and mega-bestselling author. His book, a very short and entertaining business parable, Don’t Eat The Marshmallow … Yet!, based on this study, is not only one of my favorite books, but one which I’d suggest every parent share with their children (not to mention, read themselves again and again).

And, while at our monthly quasi-MasterMind/get-together with eight of our peers (luckily, our host, Terry Brock having a camera, tripod, and really cool post-production equipment) 🙂 I was able to sit down with Joachim and ask him to share this very important principle that just might be one of the defining principles of success.

Enjoy our brief discussion.

Check out Joachim’s recent TED Talk which was very entertaining. The video he showed of the little kids doing their best to resist eating that “marshmalloy delight … yet!” was too cute.

The Go-Giver Thank YOU Contest. We Hope You’ll Play!

Wednesday, May 25th, 2011

True, we really can’t thank you enough. We’d like to try though.

So, to say “Thank YOU” for all your help in The Go-Giver soaring past the 200,000 mark in sales, John David Mann and I have put together a contest with some really cool prizes.

The Grand Prize Winner will receive a brand new iPad 2: 64 GB with Wi-Fi + 3G (Yep, only the best for you!) 😉

Five additional winners will receive a one-on-one, personal coaching session with one of today’s top authorities; each session based on one of the Five Laws from the book.

This is about YOU, and we invite you to participate. Mostly, we invite you to have fun!

Check out the Contest web page.