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 generic propecia online pharmacy 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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  1. Michele says:

    Darren,
    Could you give some strategies that a medical/consultant could use. I consult women on hormone balance and every woman is different and responds differently at different times..How can I offer a no risk situation with this?

  2. David Murrell says:

    Hi Darren,
    Thank you so very much for the books and CDs that were sent to me, I guess, for winning a drawing in the Start Small, Win Big contest. I just went to Michigan to buy a truck and took the CDs of you and Jim Rohn with me. I had the thought come to me several times while listening to the tapes, if I had to make a choice–do without the truck or do without the CDs, it would be a tough call. The truck would take me to my jobs, but the CDs will take you to your dreams. Thanks for all the efforts you put into these CDs, they help me and I’m sure they help 1,000s of other people.

    Darren Hardy Reply:

    @David Murrell, Congrats David. Glad you are making good use of the CDs we sent you. Report back on the increase in income, fitness, love, fun and lifestyle as you realize it.

    David Murrell Reply:

    @Darren Hardy,

    Yes! I will. Thank you very much!

  3. Andrew says:

    I’m reminded of a quote by Peter Drucker, someone whom I admire for his far sightedness and insightfulness, when he said … “Unless commitment is made, there are only promises and hopes — but no plans, or outcomes.”

    Making payment forms part of the commitment to the process.

    Pigs and poultry each view bacon and eggs differently … poultry make a contribution, pigs make a comittment.

    So when negotiating with prospects we need to ensure that we are in alignment with our commitments and contributions. We both need to be pigs and poultry in different aspects of the relationship

    In short suggestion proposed of a 100% risk free agreement puts me out of alignment with the clients commitment

  4. Way to go Bill! Brilliant idea from the HPF to put into action and no doubt the execution was phenomenal to have these results. You are an inspiration to all entrepreneurs by being willing to “take this risk” and step out in faith. Look forward to cheering you on to further successes.

  5. Kevin Turner says:

    I like this a lot. I am not ready to sell anything yet with my business, but when I get there this makes a lot of sense. I always try and look at it from the other side. If I was thinking about buying this product, what would push me over the edge, and this probably the main thing. When I feel like there is little to no risk and potential of a huge reward I do it! Typical Darren Hardy stuff, brilliantly simple. Love it.
    Kevin

  6. Brett says:

    Unfortunately, my business (property/casualty insurance sales) doesn’t allow for a no-risk trial on insurance coverage. Of course, our whole goal is to eliminate as much risk as possible. It’s a tough one, although I’m sure there’s a way to apply it.

  7. Dean says:

    The mastermind program Darren Runs – so tempting! I’m finally at $1,000,000 in revenue – took me four years – and a full 12 months – just over $1,000,000 at fiscal year end. So I would qualify to join this group!

    Darren Hardy Reply:

    @Dean, Congratulations Dean. It’s an extraordinary accomplishment. After 5 years fewer than 50% are still in business. Only 4% EVER make it to the $1M+ revenue mark. You should be proud. Think what being in a collaborative think tank with 24 other high-level CEOs and private mentorship could do. Only 1 seat left for Aug, few for Nov. You qualify, hurry here: http://www.high-performanceforum.com/invitation/

  8. Dean says:

    Great tip – put up or shut up – free trial etc – risk reversal – thanks for the reminder! I heard Dan Kennedy say that if you can’t guarantee then don’t sell it – great advise – without risk reversal is very hard to sell PLUS you can have a 1 year guarantee – make it your USP and the longer the guarantee the better!

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