NOTE ON BOOK YOURSELF SOLID
Written by Sasikumar Ramu on Oct. 17th 2019
Following are my highlights from
Book Yourself Solid by Michael Port. Unless noted otherwise, you can assume I agree wholeheartedly with anything listed below.
Bottom line: it’s a great book that any solo practitioner should buy now and read cover to cover.
Choose your clients as carefully as you choose your friends.
The elevator pitch was born so that the entrepreneur could pitch an idea to a venture capitalist or angel investor in the hopes of receiving funding, not for the service professional to try to build a relationship of trust with a potential client. Venture capitalists often judge the quality of an idea on the basis of the quality of its elevator pitch. Makes perfect sense, in that situation. But this is not how a relationship develops between a client and a service professional. You’re trying to earn the status of a trusted advisor not trying to raise money to create some new product like metal-detecting sandals. Totally different context. Totally different dynamic.
The dialogue is a dynamic, lively description of the people you help, what challenges they face, how you help them, and the results and benefits they get from your services. It is intended to replace the static, boring, and usual response to the question, “What do you do?” “I’m a business consultant,” “I’m a massage therapist,” or “I’m a graphic designer”; answers that often elicit nothing more than a polite nod, comment, or awkward silence and a blank stare. Once you get that response, anything more you say about yourself or your services will sound pushy. Worse yet, you could supplement the rote answer with an overblown, high-highfalutin, hyperbole-laden elevator speech that’s supposed to make you look like a rock star in 30 seconds.
Now that you’ve got a solid foundation, it’s time to look at how to develop a strategy for creating trust and credibility so that you stand out from the crowd and begin to build relationships with your potential clients. Your strategy will be based on: Becoming and establishing yourself as a likeable expert in your field Building relationships of trust over time through your sales cycle developing brand-building products and programs
Have you heard the expression, “It’s not what you know that’s important but who you know”? There’s some truth to it but, if you’re a professional service provider, consider the importance of “Who knows what you know and do they like you?” If you want to establish yourself as an expert in your field, a “category authority,” potential clients as well as marketing and referral partners need to know that you know what you know . . . and they need to like you.
Just remember—when communicating with your potential clients, be clear about what you know and clear about what you don’t. People who are credible don’t actually know everything, and they are just as comfortable saying that they don’t know something as they are saying that they do.
Now that you know what you need to do to become and establish yourself as a category authority, we’re going to look at an even more important factor to consider: Do your potential clients like you? Do they perceive you as likeable? And I mean really likeable. The fact is that if they don’t, none of the rest of your efforts to establish yourself as a category authority will matter.
Mark McCormack, the founder of International Management Group (IMG), the most powerful sports management and marketing company, agrees: “All things being equal, people will do business with a friend; all things being unequal, people will still do business with a friend.”
To make choices, we go through a three-step process. First, we listen to something out of a field of opportunities. Then we either do or do not believe what we’ve heard. Finally, we put a value on what we’ve heard. Then, we make our choice.
Your likeability factor has an enormous impact on your perceived value. Develop your credibility, establish yourself as an expert, strive to be your best, most likeable self, and you’ll quickly become the best and most obvious choice for your potential clients.
We know that people buy from those they like and trust. This is never truer than for the professional service provider. If you don’t have trust, then it doesn’t matter how well you’ve planned, what you’re offering, or whether you’ve created a wide variety of buying options to meet varying budgets. If a potential client doesn’t trust you, nothing else matters. They aren’t going to buy from you—period. If you think about it, this may be one of the main reasons you say you hate marketing and selling. You may be trying to sell to people with whom you have not yet built enough trust. All sales offers must be proportionate to the amount of trust that you’ve earned.
Just remember—all sales start with a simple conversation and are executed when a need is met and the appropriate amount of trust is assured.
Your services have a high barrier to entry. To potential new clients, your services are intangible and expensive—whether you think they are or not—especially to those who have not used the kind of services that you offer or who have not had good results with their previous service providers.
Do you realize how many more clients you could be serving if they just knew what you had to offer? The best way to inform them is to have at least one, if not a few, compelling offers that have no barrier to entry.
Building a large list and having permission to communicate with them will make it easy to secure new clients whenever you need to. All you have to do is send out a newsletter or e-newsletter, publish a blog post, or tweet a compelling offer, and voilà!—you’ll have new ideal clients. I am not being glib, you’ll see for yourself just how easy it is once you build trust with a large group of raving fans who have given you permission to add value to their lives and make offers to them at the same time.
In this stage you will demonstrate your knowledge, solutions, and sincere desire to provide value to your target market free of charge, with no barrier to entry and at no risk to them. The benefits include increased trust—they will feel as though they know you somewhat better.
I worked with a man who is a personal trainer and a healthy-eating chef. When he came to me, he was facing two challenges that he needed my help with. He was not living up to his full income potential because of working with clients on just a one-on-one basis, and he hadn’t created a relentless demand for his services. Both of these concerns caused him to be anxious over what his future held. I first asked him to look at how we could adapt his services from just offering one-on-one training, to group programs. Then we created his always-have-something-to-invite-people-to offer: the Fitness Fiesta for Foodies. One Sunday evening a month, he would host a party at which he would teach his guests how to prepare healthful meals that help them stay fit. There were two requirements for attendance, however. He would put that month’s menu on his web site and each guest was required to bring one item off the menu. Each guest was also asked to bring someone new to the event, thus creating a new audience for his work. He barely had to market himself. It was magical. People loved it and they loved him for doing it. And they joined his programs because of it.
You’ll notice that the two always-have-something-to-invite-people-to examples I offered are done in a group format. There are three important reasons for this:
1. You’ll leverage your time so you’re connecting with as many potential clients as possible in the shortest amount of time.
2. You’ll leverage the power of communities. When you bring people together, they create far more energy and excitement than you can on your own. Your guests will also see other people interested in what you have to offer, and that’s the best way to build credibility.
3. You’ll be viewed as a really cool person. Seriously, if you’re known in your marketplace as someone who brings people together, that will help you build your reputation and increase your likeability.
Please give away so much value that you think you’ve given too much, and then give more. I had a friend in college who, when he ordered his hero sandwiches, would say, “Put so much mayonnaise on it that you think you’ve ruined it, and then put more.” Gross, I know (I believe that he has since stopped eating his sandwiches that way and his arteries are thanking him), but adding value is not a dissimilar experience. Remember, your potential clients must know what you know. They must really like you and believe that you have the solutions to their very personal, specific, and urgent problems. The single best way to do that is to invite them to experience what it’s like to be around you and the people you serve.
One of the biggest problems service professionals face is the paradigm of trading time for money. If all you ever do is trade your time for money, your revenues are limited by how much you charge per hour. For example, if you speak in front of 100 of your prospects and you’re able to sell a couple dozen of your information products at $50 each, then you’ve just increased your hourly rate from $100 to more than $1,000 an hour.
It’s important to be clear about your intentions for your product or program, and it’s critical that your product or program meet the needs of your target market. No matter how much you might love to create something, if your target market doesn’t need it you’ll be defeating your purpose.
Perhaps a strength and conditioning coach who created a breakthrough video product on how to increase performance doing three, 30-minute Kettlebell workouts a week might consider writing a series of articles, blog posts, and online press releases (we cover these in Chapter 16) that include links to two-minute video clips lifted from the product. This content, sent to her e-mail list, posted on her blog and in article and press release directories, is designed to stimulate discussion on the topic rather than to explicitly promote the product. Instead, she’s encouraging her audience to consider particular issues and solutions to those issues before she releases the product itself.
Your potential buyers should feel like they’re getting a significant return on investment; value should overwhelm cost.
I suggest that you carefully consider how you want to be perceived, however, when promoting your information products. Will you create a hyperkinetic, high-intensity product launch based on the principle of scarcity? Will you try to tap into the buyer’s fear that they’ll miss out if they don’t act right away, or the perception that if they don’t buy what you’re offering they’ll never move forward and will, basically, fail at whatever it is you’re offering to help with? Or, will you create a reasoned, sensible, and appropriate product launch based on integrity? Look, I’m comfortable with special time-and space-limited offers as long as they are based on integrity and they’re not too hyped up and aggressive. There is a well-known marketing expert who says, “If you’re not annoying some of your prospects, then you’re not pushing hard enough.” I’m not hip to that concept.
When you ask someone to promote a product for you, you’re asking a lot—more than you might realize at the moment. You’re asking for access to what might be his most prized business asset—the trust he has built with his subscribers.
“Price is what you pay; value is what you get.” —Warren Buffett
How long it takes you to write something, or design something, or think up an idea, or even the amount of time you spend with a client, is irrelevant. What (should) matter to the client is the financial, emotional, physical, and spiritual return on investment your product or service provides—remember, I introduced you to the all-important, life-changing FEPS benefits (financial, emotional, physical, and spiritual). Think about the value you provide.
But don’t shed any tears for me. I do just fine. I intentionally keep my prices low, compared to my colleagues, for my online and tele seminar courses. This way, newer small business owners (possibly like you) are able to enroll in the courses. Sure, it allows more people to participate and you might think that I make bigger profits due to volume but it’s not the case because my expenses are also higher. My most profitable offerings are my small-group in-person coaching workshops and big corporate speaking gigs. And yes, they’re at prestige prices. Worth every penny, I might add.
Quantity discounts. You may be able to encourage clients to buy more of your services if they can get better prices the more they purchase. This model is very common for personal trainers and others like yoga teachers who sell sessions on an ongoing basis. For example, a yoga teacher may sell sessions in 5, 10, 15, and 20 packs. The price per session will decrease for each subsequently larger pack, making the 20-pack the best deal. She may even decide to offer a value-added bonus to the buyer of the 20 pack: a free, three-hour yoga retreat for the client and 20 of her closest friends, for example. Yes, you’re right, what a great value add to the client as well as a remarkable marketing opportunity for the yoga teacher—20 brand new potential clients brought right to her door step, or in this case, yoga mat.
As a service provider you may not want to think of yourself as a salesperson. You’re in the business of helping others, and the sales process may feel contradictory to your core purpose. If you’re uncomfortable with the sales process, it’s likely that you view it as unethical, manipulative, and dishonest. Looking at it that way, who wouldn’t be uncomfortable? Many service professionals also feel uncomfortable charging for services that either come easily to them or that they love doing. There is often a sense that if it comes easily and is enjoyable, there’s something wrong with charging others for doing it. Add the fact that service professionals sell themselves as much as they sell a product, and the whole idea becomes even more uncomfortable. It may feel like you’re bragging and being shamelessly immodest. Becoming comfortable with the sales process requires that you let go of any limiting beliefs you may have about being worthy of the money you’re earning. In fact, developing the right comfort level also requires a shift in your perspective of the sales process itself.
If you don’t believe you are worth what you are charging, it is unlikely that a lot of people are going to hire you based on those fees. You need to resonate fully with the prices you are setting so that others will resonate with them as well. To do so, you may need to work on shifting your beliefs so that you feel more comfortable with charging higher fees, rather than lowering your fees to eliminate the discomfort.
One of the reasons that so many sales conversations are unsuccessful is because they’re had at the wrong time—usually too soon—before you’ve earned the proportionate amount of trust needed for the offer being made. Plus, your clients buy when it’s right for them—when something occurs in their life or business that compels them to hire you. If these two factors, trust and timing, come together at just the right moment, you’ll have a successful sales conversation and book the business.
This simple four-step process is the secret to the Book Yourself Solid system.
1. You execute a few of the 7 Core Self-Promotion strategies, which create awareness for what you have to offer.
2. When a potential client becomes aware of your services she’ll take a look at your foundation. If it looks secure, if she feels comfortable stepping onto it, she’ll give you the opportunity to earn her trust—but only the opportunity. She’s not necessarily going to hire you right then and there. She needs some time to consider the consequences before she will actually trust you.
3. That’s when your plan to build trust and credibility comes into play. As a potential client moves through your sales cycle, she will come to like you, trust you, and find you credible.
4. When her circumstances dictate that she needs the kind of help you provide, she’ll raise her hand and ask you to have a sales conversation. You have a sales conversation the Book Yourself Solid way and book the business.
Start small, end big, and remember—successful selling is really nothing more than showing your potential clients how you can help them to live a happier, more successful life.