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“I consider Bob Burg to be without a doubt, one of the world's leading experts on networking.”

~ Dr. Ivan Misner, NY Times Bestselling Author and Founder of BNI

Posts Tagged ‘The Go-Giver’

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.

Expanded Edition of The Go-Giver is Born

Tuesday, October 6th, 2015

tggee-book-coverThank you for making it happen!

Celebrating the 500,000 books sold mark, John David Mann and I — via our awesome publisher, Penguin/Portfolio — have just released an updated and expanded version of The Go-Giver.

It’s available beginning today!

What exactly is new about it? Please visit http://bit.ly/tggnew.

Mainly, thank you for being a huge part of this amazing journey!!

The Advancing Woman – Kat Cole

Saturday, January 17th, 2015

In his classic, The Science of Getting Rich, written way back in 1910, Wallace D. Wattles explained a key principle for advancement in business, regardless of where one starts or how little money or connections they begin with. One advances… by advancing (providing value to) others:

“And, in so far as your business consists in dealing with other people…the key thought of all your efforts must be to convey to their minds the impression of increase…convey the impression of advancement with everything you do, so that all people shall receive the impression that you are an advancing man and that you advance all who deal with you…You can convey this impression by holding the unshakable faith that you are in the way of increase and by letting this faith inspire, fill, and permeate every action. Do everything that you do in the firm conviction that you are an advancing personality, and that you are giving advancement to everybody…feel that you are conferring benefits on all.”

Kat ColeI recently read a fantastic article on Time.com written by Charlotte Alter. It describes the journey of Kat Cole who began as a hostess for Hooters at age 17 and became CEO of the billion dollar-plus Cinnabon, Inc. at the age of 32. How she did it was textbook right out of the pages of Wattles’ book. (Though it wasn’t actually her goal – at 18 she was waiting tables there in order to help pay for college where she was studying to be an engineer.)

Earlier in his book Wattles discussed a concept he called being “too big for your present place”:

“You must begin to do what you can do where you are, and you must do all that you can do where you are. You can advance only by being larger than your present place…The world is advanced only by those who more than fill their present places.”

This is a key concept and had much to do with Kat’s rapid rise to success. If you read the above-mentioned Time.com article you saw that everything she did was not just beyond but way above and beyond her job description. Thus, she became too big for her present place. She had to advance. And, she continued to advance. She was… the advancing woman!

Exceptional Value And High Character

Kat certainly embodied “The Law of Value” from John David Mann’s and my, The Go-Giver, which states, “Your true worth is determined by how much more you give in value than you take in payment.”

But, let’s look at another aspect of Kat’s advancement. “The Law of Influence” from that same book says, “Your influence is determined by how abundantly you place other people’s interests first.” This does not mean you are self-sacrificial; it does mean that focusing on bringing value to others is congruent with your values.

One of Kat’s personal values is loyalty. Although she was offered a great job by another private equity firm that she wanted and was about to accept, when she found out the current company was about to be sold (which would be a bad time to leave them), she stayed to help them through the sale. Doing so entailed detailing with 14 other firms.

The result was that she became known as a person of huge value by the other firms as well and suddenly her influence grew exponentially. Now she was in greater demand than ever!

As Wattles succinctly stated in his chapter entitled, The Advancing Man:

“No matter what your profession, if you can give increase of life to others and make them sensible of this gift, they will be attracted to you, and you will get rich.”

Great things don’t happen in a vacuum. People create these opportunities for advancement. And, they do so, as Wattles stated, despite their circumstances. (You can read more about Kat’s personal situation in the Time.com article.)

An Advancing Man?

As I pulled up to the drive-through window of the local fast-food restaurant I sometimes frequent, I was greeted by a smile from a young man, probably not much older than the previously discussed hostess. He read back my special order to me, making sure he had it correct. I thanked him for caring enough to make sure he got it right.

“That’s our job, sir. We want to make sure it’s perfect and that you enjoy your meal.” He said it as though he meant it, and I have no doubt he did.

I was impressed. More than just the desire of my happiness with the dining experience, he knew how to communicate his desire for my happy dining experience.

He provided me with great value via his attitude. He gave me the impression of increase…I suspect he’ll be advancing soon.

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Update: Soon after this post was published, Kat was promoted to Group President of Cinnabon’s parent company, Atlanta-based Focus Brands, owned by private equity firm Roark Capital. In her new role she’s responsible for five franchise food brands in addition to Cinnabon: Auntie Anne, Carvel, Moe’s Southwest Grill , McAllister’s Deli and Schlotzsky’s. Focus has more than 4,000 fast casual locations worldwide. Yes, Kat Cole continues to be … The Advancing Woman.

Abundance Mindset – Powerful Influencer

Friday, November 7th, 2014

David NeagleThis week I attended Accelerate Live, a four-day event held by David Neagle. The Founder of Life is Now, Inc., David is a very highly regarded income acceleration mentor and giant in the personal development field.

Having mentored a large number of hugely-successful proteges, he has certainly unlocked the door to financial success as well as other areas where success can be defined and measured.

The entire event was extremely well-staged and choreographed, and with a support team in place — including his team of personally-trained coaches — that allowed David to do what he does best…teach from stage.

On a personal note I found it very cool that his mentor was Bob Proctor, upon whom the character Pindar in John David Mann’s and my book, The Go-Giver is loosely based.

While the event’s theme was Influence it was really all about living a life of both personal and professional success. The first two days were more about mindset; the last couple of days more about strategy. Yet, even within the strategic how-to…there was always mindset.

Why? Because it’s always about mindset. We are all human beings constantly dealing with ourselves as well as with other human beings. If we don’t feel good about ourselves; if we don’t see ourselves as winners, if we don’t feel abundant then it’s awfully difficult to influence another person that they will be better off by doing business with us.

Of the many gems shared by David here are just a few:

  • “Create in your mind what you want to accomplish, then grow into the person who accomplishes it.”
  • “Most will only go after what they think they can accomplish; not what they really want.”
  • “How does your prospective client know — just by being in your presence — that you can help them?”
  • “People hear with their ears but they listen with their emotions.”
  • “Hope or wish is {a representation of} internal or external discomfort. It doesn’t mean they want to change.”
  • “Help them get to the point where they can choose to change for themselves.”
  • “When around negative people, the moment you stop consciously rejecting it, you start subconsciously accepting it.”

An abundance mindset with a true focus on bringing value to others leads to powerful influence. Terrific event and valuable lessons!