Real Relationships Real Revenue - Video Edition | Invest in Relationships to Build Your Business and Your Career Maria Kelly's, Monty Hamilton's, and Warren Shiver's Favorite Business Development Strategy
Jul 11, 2022
51:12
Mo asks Maria Kelly: What is your favorite science, step, or story from the GrowBIG training or Snowball System?
- One of the most useful things Maria learned from the GrowBIG training was the seven pricing principles. Living in Switzerland, she grew up in a culture that didn’t talk about money and she learned early on in her career that if she didn’t talk about money, she didn’t get the money.
- Many business owners and professionals struggle with asking for what they are worth. When clients push back on the fees, those people don’t know how to respond because they don’t know how to articulate their value and justify their price.
- There are seven common heuristic programs that people use when thinking about money. One of the most common is that your price is directly linked to the quality of your service. In other words, expensive equals good, and cheap equals bad.
- If you’re upfront with the value you are bringing to the table and anchoring to that, no one is going to second guess what you charge.
- With the idea of anchoring on value, you can talk about the result and the magnitude of the value of it and use that as a frame for whatever your fees are. Introduce early on what value you are bringing to the relationship, and your fees will seem small in comparison.
- Most people expect to pay for a service, but when it comes to ourselves we often make assumptions about what other people will think about our own services to others. If someone is hiring you, they want the best. You have to lean into and be confident with your fees.
- At the point you talk about the fees, if you have built up enough value and trust with the person, you will be more confident in your delivery. It’s not about sticking with the number no matter what, it’s about working together to find a solution and a price that fits all parties. Even if you can’t find an alternative, do your best to part on good terms.
- If you can talk about the money with the same excitement and tone that you discuss the team, the scope of the project, and the details, you will feel consistent and confident and get better results.
Mo asks Monty Hamilton: What’s your favorite science, step, or story from the GrowBIG Training or Snowball System?
- The blueprint of Monty’s business is think big, start small, scale up.
- Rural Sourcing started out as a 10 person organization and has since scaled up to 1,000 employees, with the future goal of 3,000 employees and 30 centers all over America.
- It’s a growth mindset that can be applied across a 10,000 person organization, but it can also be applied to your personal life. Great intentions can be sabotaged if you try to do too much, too fast.
- Recognize that, as an individual, you will never be able to do it all. You have personal limitations and must be able to recognize those limitations to unlock your business’ potential.
- You’re not going to be perfect on day 1 or day 10,001. The goal is continuous improvement. With that mindset, you can do better, you can get bigger, you can do more.
- Being willing to reinvest is critical to knowing where you can add value and where someone else can add the value that’s missing.
- To scale up to the next level, you need to understand your strengths and your weaknesses, and to know that you need to ask your peers, colleagues, bosses, and people you can trust to give their honest opinion.
- People are usually happy to give you feedback, and when you find someone willing to give it to you because they want you to be successful, you may have found a great mentor.
Mo asks Warren Shiver: What’s your favorite science, step, or story from the Snowball System or GrowBIG training?
- Warren has been working with Mo during the early days of the GrowBIG training and has been a big fan of the Protemoi list and the step-by-step opportunity process.
- The first part of the opportunity process is listening and learning. Being able to repeat it back to the prospect and proving that they’ve been heard is how you earn the right to go to the next step.
- Weekly, monthly, or quarterly sales targets influence behaviors that always align with the listen-and-learn process. The opportunity process doesn’t require more time, but it does require an emphasis on patience, understanding, and a collaborative approach. Many companies are still struggling with the more rigid, linear mindset of selling.
- Clients don’t want to hear your language or why your company is awesome. You should approach the sales cycle with a fresh-eyes mindset and assume the position of someone just getting started solution-wise.
- Earned Dogmatism is a proven mental heuristic that states the more we believe we have an expertise in some area, the more close-minded we become.
- The Protemoi list is a mental framework that can pay off at any time. Think about the relationships that might be important to you tomorrow, and the frequency of staying in touch that keeps those relationships alive.
- The first step of the Protemoi list is to write it down. Warren uses a spreadsheet to keep track of his list, and one of his weekly MIT’s is to always check in with the people on his list.
- It’s okay for people to drop off. Depending on the situation, Warren reaches out weekly or monthly to stay in touch in any way he can that adds value.
- Warren looks for interesting articles that he can send people or whatever way he can connect with someone on the list that makes sense.
- The Protemoi list also scales to a team or organizational level. You should be having all your people working to build trust and the relationship along the way.
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