Put Up or Shut Up
I hope you have been enjoying this exclusive new series and that it has been giving you some ideas to create breakthroughs in your business.
Here’s a strategy that can immediately, and significantly, increase your new client acquisition and multiply your revenue.
Bill Stuart, the CEO of a $2M+ retail and manufacturing consulting firm, reported to me how this one bonus tip I included in the second day of the HPF 3-day intensive is adding a few million dollars to his revenue–essentially doubling the size of his company. (More about Bill below).
The strategy is called: Put Up or Shut Up.
Here’s the Great Divide (between you and the buyer):
YOU know your product/service/solution is fantastic.
YOU know once customers experience it THEY will think so, too.
BUT to gain that experience THEY have to take a risk.
People don’t like to take risks.
So most don’t.
Thus, they pass or decide not to decide.
And you both lose.
Instead of asking them to have blind faith and take on the risk, remove it entirely.
In other words, put YOUR money where YOUR mouth (or marketing) is.
YOU know your solution is fantastic, so prove it by Putting Up (your chips) or Shutting Up (your bluff is called).
I’ll let Bill tell you how he used this strategy in his business. The following is from the email he sent me:
“This is the third breakthrough I got. I have had several months of stagnant negotiations with a national retailer. It was likely I was going to lose a very big account opportunity. The EVP of stores was hesitant about our price on a project even after he specifically requested us to do it. He thought it was priced too high. I asked him what he felt the RISK was. He told me that since it was a national sales leadership meeting that if his boss, the CEO, did not like it, he would hear about it daily for the next year.
“I eliminated the risk. I told him that we would conduct the research, write the program, and deliver the entire program–and he did not have to pay us anything in advance (standard is 50% up front). I told him to bring a blank check to the conference and at the end write the check for what he and the CEO thought it was worth. If they did not feel it was the BEST training they had ever had, then the check would be for $0. He was absolutely shocked and agreed immediately. This gained us a million-dollar account!
“Tomorrow we have a major presentation to the new senior management team of Sears. The meeting was arranged by this new client (who I wouldn’t have gained otherwise) who told the EVP of Sears that they needed to meet with us as we have the best solution in the industry and can do
amazing things for them. This
one strategy is doubling our business this year!”
Hear Bill tell the story in his own words here.
There are a lot of specific and dynamic ways to execute this strategy to have a massive impact on your revenue results, but this can get you thinking:
How can you remove all the risk from the transaction and make getting started with you a risk-free no-brainer?
Answer that and it just might double your business, too.
If you want to give kudos to Bill, ask him a question, or add to the discussion, please do so in the comment section below.
Bill Stuart is the CEO of Stuart & Associates, Inc., a results-oriented consulting firm passionate about helping retail and manufacturing clients maximize their revenue and profit while increasing consumer loyalty. More information on Bill can be found at www.bettersales.com.
More information about Darren’s private CEO HIGH-PERFORMANCE FORUM can be found here.
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