Video Summary

Formula for Change

• Formula: D x V + F > R.

Formula Components

• D: Dissatisfaction
• V: Vision
• F: First Steps
• R: Resistance

Understanding the Components

• Dissatisfaction: Identifying pain points.
• Vision: Creating a clear path to escape the pain.
• First Steps: Initial actions to implement the vision.
• Resistance: The force that needs to be overcome for change.

Applying the Formula

• Importance of addressing dissatisfaction first.
• Vision and first steps must be stronger than resistance.
• Psychological challenges in change due to comfort and routine.

Examples and Implications

• Real-life examples of change in personal and professional settings.
• Emphasis on the necessity of change for growth.
• Understanding that vision alone is not enough without addressing dissatisfaction.

Overcoming Resistance

• Importance of identifying and addressing pain points.
• Using the formula to make tangible changes.
• Ensuring dissatisfaction, vision, and first steps together outweigh resistance.

Practical Applications

• Encouraging regular review of the formula.
• Applying the formula before planning sessions or when facing immediate challenges.

Conclusion and Takeaways

• Importance of sitting in pain to identify dissatisfaction.
• Recommendations on the frequency of applying the formula.
• Final exercise to lock in learnings through a physical and verbal action (whoosh).

Run Right Business Consulting offers all of our prospective clients a complimentary business coaching session, so that you can actually experience what it is like to be coached, have all of your questions answered, and make an educated decision as to whether coaching is a good investment for you. Find out what we can do for you. 

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Video Summary

Six steps for giving constructive criticism effectively in the workplace:

1. Use the feedback sandwich method: Start with strengths, then address areas of improvement, and end with positive solutions.
2. Focus on the situation, not the person: Address the issue rather than blaming or criticizing the individual.
3. Do your research: Gather facts and talk to involved parties to ensure specific and accurate feedback.
4. Comment on actionable items: Discuss behaviors that can be changed or improved upon, offering support and assistance.
5. Give specific recommendations: Offer practical steps for improvement rather than vague criticism.
6. Avoid making assumptions: Base feedback on observed behavior rather than personal assumptions or feelings.

Additionally, it’s advised to end the conversation on a positive note and show care and interest in the individual’s well-being.

Run Right Business Consulting offers all of our prospective clients a complimentary business coaching session, so that you can actually experience what it is like to be coached, have all of your questions answered, and make an educated decision as to whether coaching is a good investment for you. Find out what we can do for you. 

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Video Summary

• Perceived benefits refer to how a product or service improves one’s life or makes them feel prestigious, while perceived costs relate to the anticipated financial or effort-related expenses.
• Asking about cost before revealing the price may disrupt this balance and reduce perceived benefits.
• The formula for customer perceived value is introduced as perceived benefits minus perceived costs.
• When perceived costs exceed perceived benefits, customers may feel ripped off or disappointed, resulting in negative perceived value. Therefore, businesses should ensure that perceived benefits outweigh perceived costs to provide a positive customer experience.

Run Right Business Consulting offers all of our prospective clients a complimentary business coaching session, so that you can actually experience what it is like to be coached, have all of your questions answered, and make an educated decision as to whether coaching is a good investment for you. Find out what we can do for you. 

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Video Summary

This video discusses the difference between value and perceived value, a concept that many people find challenging to grasp.

• Real value is defined as the tangible costs involved in producing a product or service, its utility to the buyer, and the value of its individual components. It encompasses factors such as production costs, time, labor, and machinery.
• Perceived value, on the other hand, is described as a more abstract measurement that reflects how much customers feel a product is worth to them personally. It is influenced by factors like brand reputation, personal preferences, and emotional attachment.
• An example provided in the discussion is the willingness of individuals to pay a higher price for prestigious items like expensive handbags, despite the lower production cost. This signifies perceived value, as customers attribute additional worth to the product based on emotional factors.
• Perceived value varies among consumers and is subjective, as everyone’s perception of the same product or service can differ.
• Ultimately, perceived value is determined by how customers feel about a product or service and what they believe it is worth to them personally, such as feeling prestigious when carrying a high-end handbag. This emotional benefit derived from the product contributes to its perceived value.

Run Right Business Consulting offers all of our prospective clients a complimentary business coaching session, so that you can actually experience what it is like to be coached, have all of your questions answered, and make an educated decision as to whether coaching is a good investment for you. Find out what we can do for you. 

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Video Summary

This video discusses eight mindful characteristics that are important for effective management and leadership.

1. Avoid making assumptions: Managers should refrain from making assumptions about their team members’ needs and concerns. Instead, they should ask the right questions and gather information to fully understand their employees’ perspectives.
2. Be present and attentive: Being fully present during interactions with team members, making eye contact, and actively listening can help employees feel heard, valued, and cared for.
3. You don’t have to know everything: Managers don’t need to possess all the knowledge and expertise. It’s important to recognize that it’s okay not to know everything and to rely on the expertise of team members when necessary.
4. Practice patience: Patience is essential in leadership to prevent chaos and maintain a positive work environment. Leaders should avoid reacting impulsively and strive to remain composed during challenging situations.
5. Effective conflict resolution: Managers should be skilled in conflict resolution, which involves gathering information, mediating between conflicting parties, and making informed decisions based on facts rather than emotions.
6. Mutual respect: Respect should be a two-way street in the workplace, where all team members, regardless of their positions, are treated with equal respect. This fosters a positive and inclusive work environment.
7. Equalizing time: Managers should communicate to their employees that everyone’s time is equally valuable, promoting a sense of equality and importance among team members.
8. Maintain boundaries: While it’s important to be friendly with your team, managers should establish clear boundaries to prevent conflicts of interest and maintain professionalism in the workplace.

Overall, these mindful characteristics are crucial for effective management and leadership, contributing to better employee morale, retention, and a positive work culture.

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Video Transcription

Sunshine: How often do you assume the sale?

Crystal: Welcome to For the Love of Business. I’m Crystal.

Sunshine: And I’m Sunshine. Let’s get to it.  

Assuming the sale. I really like this one – it’s very powerful and it’s easy.

Crystal: And effective.

Sunshine: And when you’re assuming the sale, how do you like to do it?

Crystal: Well, I like to do it a couple different ways.

One way is, when you’re starting to assume the close you can ask “Do you want to pay with cash or credit card?”.

Or, if you’re in retail, you can say “Do you want the blue shirt or the red shirt?”.

Sunshine: Seems easy enough. And, when do you know when it’s the right to assume the sale?

Should you be doing this a lot or what are the cues the prospective client are giving that you can just breeze right into that?

Crystal: Basically, after you’ve gone all over your service or product and answered all objectives, that’s when you start the assumption close.

Sunshine: Now I’m assuming they will tell you if they don’t want it.

Crystal: Well, we don’t give them that option.

Sunshine: OK, so can you tell us a little bit more on how to do that?

Crystal: The same thing. Do you want the red shirt or the blue shirt?

Sunshine: What’s your number one takeaway from today’s video? Leave us a comment and thanks for watching.

Run Right Business Consulting offers all of our prospective clients a complimentary business coaching session, so that you can actually experience what it is like to be coached, have all of your questions answered, and make an educated decision as to whether coaching is a good investment for you. Find out what we can do for you. 

The post Assuming the Sale: How to Use This Soft Sell Technique to Close appeared first on Run Right Business Consulting.

Video Transcription

Sunshine: How quickly are you responding to your clients?

Crystal: Welcome to For the Love of Business. I’m Crystal.

Sunshine: And I’m Sunshine. Let’s get to it.  

Client inquiries.

Crystal: Yes.

Sunshine: Okay. So, are you talking about email, phone, left messages, things like that?

Crystal: All of the above.

Sunshine: And you want us to return those calls quickly, right?

Crystal: That’s right. Here’s the thing. Lack of response is the biggest client frustration that they have with businesses. And even though you may be working your butt off delivering behind the scenes, they don’t know that. They think you’re just sitting there doing nothing.

Sunshine: Okay. But what about the clients that inquire to you on your day off?

Crystal: Well, that’s about setting boundaries when you onboard them saying, you know, you’ll respond within a certain amount of time, minus weekends, holidays, etc.

Sunshine: Okay. So, as long as they’ve been informed, you should be all right?

Crystal: Yes, an educated client is an easy client.

Sunshine: So, what else should we know about response time to clients?

Crystal: Three easy ways to respond to your clients before or on time.

Number one, respond to all inquiries from your clients within one to two business days. Now, if you need more time, you know, let them know when you can respond.

Number two, be proactive in your responses. So, you reach out to them before they reach out to you.

And lastly, when you onboard a client, educate them on the process above.

Sunshine: I like those. Makes it fairly easy, right? Those are just the three little things that you need to remember to keep everybody happy.

Crystal: That’s right.

Sunshine: What’s your number one takeaway from today’s video? Leave us a comment and thanks for watching.

Run Right Business Consulting offers all of our prospective clients a complimentary business coaching session, so that you can actually experience what it is like to be coached, have all of your questions answered, and make an educated decision as to whether coaching is a good investment for you. Find out what we can do for you. 

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Video Transcription

Sunshine: Have you ever offered a payment plan to close the deal?

Crystal: Welcome to For the Love of Business. I’m Crystal.

Sunshine: And I’m Sunshine. Let’s get to it.

Payment plans, like layaway?

Crystal: Similar, yes.

Sunshine: And I mean, are you putting this on your website that you take payment plans?

Crystal: Great question. So, I would not advertise that you’re offering payment plans. This is a back pocket strategy. So, if someone really wants to buy but they don’t have the full amount right away, you can offer them a payment plan. But you won’t put it on your website, you won’t advertise it, again, it’s just in your back pocket in case you need it.

Sunshine: Okay, what about referrals? You know, I’m a great client, and I got a payment plan. Could I tell my friend that there was a payment plan option available?

Crystal: No. Absolutely not.

Sunshine: So, don’t forget to educate your clients.

And tell us a little bit more about the parameters of a payment plan.

Crystal: Happy to do that. So, three parameters if you’re going to offer a payment plan.

Number one, it should be no more than three payments over a three month period, unless it’s a very big purchase and then you can decide what is fair.

Number two, get it in writing that the client will pay the payment plan on time each month.

And number three, get a credit card on file in case the payment fails, you can rerun it and make sure you get the money.

Sunshine: Extra closing strategies for your business.

What’s your number one takeaway from today’s video? Leave us a comment and thanks for watching.

Run Right Business Consulting offers all of our prospective clients a complimentary business coaching session, so that you can actually experience what it is like to be coached, have all of your questions answered, and make an educated decision as to whether coaching is a good investment for you. Find out what we can do for you. 

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Video Transcription

Sunshine: Have you ever used the Benjamin Franklin method to close a new client?

Crystal: Welcome to For the Love of Business. I’m Crystal.

Sunshine: And I’m Sunshine. Let’s get to it.

Benjamin Franklin method? Like is it the hundred-dollar bill method?

Crystal: Well, he’s on the hundred-dollar bill.

Sunshine: Right. He wasn’t even a president. But at any rate, what is this method? I mean, share, share.

Crystal: So, Ben Franklin had a method to do when he had to make a really important decision. And so, he would take one column and list all the pros of that decision.

Sunshine: Okay.

Crystal: Then he would do a con list, of all the cons to make that decision.

Sunshine: So, positive and negative.

Crystal: Yep. Then he would assess if there were more pros who’d moved forward. If there were more cons, he would not move forward.

Sunshine: Oh, okay. I’ve got a pros and cons list that I use, but I didn’t know it was called the Benjamin Franklin method.

Crystal: It is. But what’s exciting is you can use it to close clients.

Sunshine: All right. And I bet you’re going to tell us how, right?

Crystal: That’s right. So, how to use the Ben Franklin method to close clients. So, it’s the same method, but you had your client write down the pros of buying from you and the cons of buying from you. Have them read that out loud afterwards so it becomes their decision to close themselves on you.

Sunshine: So, twist into that pain on the cons list and the pros list. Just twist into it, right?

Crystal: Yeah.

Sunshine: What’s your number one takeaway from today’s video? Leave us a comment and thanks for watching.

Run Right Business Consulting offers all of our prospective clients a complimentary business coaching session, so that you can actually experience what it is like to be coached, have all of your questions answered, and make an educated decision as to whether coaching is a good investment for you. Find out what we can do for you. 

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Video Transcription

Sunshine: Are you a problem solver during your sales process?

Crystal: Welcome to The Love of Business. I’m Crystal.

Sunshine: And I’m Sunshine. Let’s get to it.

Problem solving and your sales process. This sounds like, you want to tell me? Because I don’t think I have the answer on this one. I mean, we all want to be able to solve problems, especially during the sales process because it kind of helps sell the product or service. But help me out.

Crystal: Sure. So, think of it this way. This type of salesperson is someone who’s not going to assume anything when you walk through the door, they’re not going to try to oversell you, or be an order taker, or promise the moon in the sun and the stars and not be able to deliver it. So, someone, this type of salesperson has integrity, and then they’re going to actually help you buy something that you actually need. And by doing that, they’re going to ask questions to figure out what your pain points are or what you’re trying to achieve so they can provide the best solution for you.

Sunshine: All right. So, my next question is, what kind of questions are we supposed to be asking to be this problem solvers/salesperson, since it’s part of our sales series.

Crystal: Think of this sales process as a high and soft relationship close, where they close themselves versus you closing them on the service or product. So, you start broad, and you ask a question, “Why did you come in today? Or why did you want to meet today?” They’re going to start giving you information and talk about their pain points. You ask, “Okay, any other challenges that you are facing right now? Or is there anything else you want to achieve from this product or service?” Now they’re going to go deeper and give you more pain points and then you’re going to take each pain point and poke them a little bit.

Sunshine: Okay, we’re going to poke the small, little wound and pick the scab off, apparently.

Crystal: Yeah. Because the real sale happens in the pain, not the vision. People can stay in their vision for years and not do anything. But people will do everything and anything to avoid pain or get out of pain.

And let me give you an example. So, you’ve identified some pain points, you’d say, well, if nothing changes what will that mean for you? How is that affecting your daily life? What would it mean if you’re in the same place five years from now?

Sunshine: It really makes them think.

Crystal: That’s right.

Sunshine: Sounds like it’s really going to make them like, go to that, I need to stop this. It is going to help them stop in their tracks and actually get into action to finding a solution.

Crystal: Yes.

Sunshine: Oh, my God, this is like, the most integrity that a salesperson could possibly have is to do this technique.

Crystal: Yep. As a salesperson you don’t want to be nice. Nice is an acronym that stands for nothing inside me cares enough to ask the hard questions so that they can move forward.

Sunshine: All right, a lot of revelations in this one today.

What’s your number one takeaway from today’s video? I actually want your comment.

Run Right Business Consulting offers all of our prospective clients a complimentary business coaching session, so that you can actually experience what it is like to be coached, have all of your questions answered, and make an educated decision as to whether coaching is a good investment for you. Find out what we can do for you. 

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