Is Your Signature System Really a Signature System? (Probably NOT!!!)

Recently, I was speaking with a client, Marylynn, while training her on my Freedom from Selling 2.0 system. An essential element that makes the Freedom from Selling approach work is getting crystal clear about your “core client process1” or “signature system1.”

So I asked her to tell me about her “signature system.”

She spent the next several minutes describing what she called her “signature system.”

Here is a condensed version of how she laid out her “signature system:”

  • Level 1 Program: Achieve Program
  • Level 2 Program: Find Your Healthy Diet Program
  • Level 3 Program: The Immersion Program (Her highest level program, which she called her “signature system”)

Well, what do YOU think?

Have you been taught about signature systems? If so, does this look anything like what you’ve been shown?

From my perspective, in the end, what she described to me was a tiered collection of programs. A group of different program levels is NOT a “signature system.”

Contrast her description of her “signature system” with this…

A Practical Definition of a Signature System:
Your signature system is the core process, the step-by-step methodology for how you work with a client. It’s also the methodology that’s underneath the initial conversations you have with a potential client. Most people don’t realize this. But it makes those conversations more powerful, yet it’s invisible to those potential clients that you’re speaking with.

Defined and designed this way, your signature system, regardless of the program, would be infused as the underlying foundation of that particular program.

In Marylynn’s words…

“… [my core process] hasn’t been defined, probably because no one’s ever…I can’t tell you how many signature system programs I’ve taken. So nobody has ever explained that the signature system is NOT what I’m doing; [the signature system] is the approach that I’m using.”

Then, the light bulb went off in Marylynn’s head, and there was no stopping her!!!

Here’s how it went…

Marylynn:

“So if I were ever to create the ultimate, or 10 bajillion programs, they would each follow the same approach [at its core].”

If you have a Basic program, you apply your Signature System at the basic level.

If you have an Advanced program, you still have your Signature System but at the advanced level.

The practical definition you gave me, that a signature system is my core process, is not being taught in the mainstream like that.

Not only that, but other supposed experts helped me create what I currently do. And that is supposed to be my “Signature System;” that is, the different levels of my programs. This is very interesting.

Me: Well, that’s okay to define a “Signature System” that way. It’s just not how I define it.

I’m defining it like “This is the CORE. Like “core strength.”

Marylynn: Like core values.

Me:

Exactly. Core values and core strength, they have to be there wherever you go.

If you’re a tennis player. If you are a gymnast. You still need the core strength. It goes everywhere.

Marylynn: Right!

Me: So, your signature system goes everywhere you go.

Marylynn: Yep!

Me:

I don’t think there’s anything inherently wrong with the tiers and levels of programs you’ve created. It’s just that I’m looking for a more specific definition of how you approach solving problems and delivering value. Like, “what’s your secret sauce?”

I’m looking for your “secret sauce” codified so that we can see it on paper.

I’ll give you an example…

My secret sauce starts with FOCUS. Focus includes “what’s your values, mission, vision? What are your business goals–financial, marketing, and sales goals? What is your big why? What’s the big reason behind your business? What’s the compelling reason behind why you do what you do?

And getting clear about these things gives you the ability to stay focused when there are so many shiny objects that are bright and fun and exciting that can distract you.

Having clarity on values, mission, and vision helps you to stay on track.

What are your STRENGTHS & BLOCKERS?

What is your business STRUCTURE, as in, the business MODEL?

What are your STRATEGIES for growing the business from the inside out, including marketing and sales strategies? But also operational strategies, growth strategies. Whether you want to build a lifestyle business or you want to have a leveraged business that goes beyond a certain income level.

What are the operational business SYSTEMS that need to be there, from financial management to delivering value to clients, to marketing, to selling, to all the logistics?

And what are the SKILLS you need to have?  or you need to develop or bring in, for your business to thrive, and to achieve goals that you’ve set?

What SUPPORT is needed for you in the business – for you and the team – to be able to create an environment where you function at the highest levels of productivity?

What are the prioritized ACTION ITEMS?

What’s your system for ACCOUNTABILITY and FOLLOW-THROUGH?

So, that’s my core process, or “Signature System.” I don’t always say it to people like that. Because it doesn’t really matter. But it only matters to the degree that we’re working on a particular part of their business and, in my mind, I’m thinking to myself and formulating questions, “What are their strengths, blockers, strategies, systems,…”

So, I go through a cascade or mental checklist almost in a heartbeat where I’m kind of using x-ray vision and superimposing my “core client process” to find where opportunities, gaps, and vulnerabilities exist in that business or project.

Does that make sense?

Marylynn:

It makes sense. This has been extremely helpful. That was a major “ah hah” moment.

I mean, everything that you say, all the verbiage you use, is exactly what every other program says. With the exception of breaking it down to the point of – everybody else explains the elements of your signature system as “what are the steps of your program?” – but not from this program to that program.

It’s like each “signature system” has a step-by-step program, each one has steps, Each one is a system. Each one follows something. But they’re never the same from program to program. Or, thing to thing. They’re always totally different.

Nobody has ever taught this.

But this makes total sense.

Like all of a sudden, everything in my brain clicks.

Of course, you’d do that. It makes it so much easier to create anything.

Me:

It does!

And YOU taught me something…

Because I haven’t taken training on signature systems myself, so I didn’t realize that people are saying that your signature system is your sequence of different program levels.

Marylynn:

Oh yeah!

I have literally spent over $60,000 developing my signature system – I really have – with coaches and courses. And every single one of them confirmed and built upon what I had created [from the previous program or coach.] So, with each one, I only kept getting confirmation that I was doing the right thing. Or I was on the right path.

So, I would never think anything was wrong, other than the fact that my signature system wasn’t working. That’s why I kept buying programs and coaching!

I must say, I can think of at least six programs that I have been part of. 

And [those other programs,] it’s all surface level. The best way I can describe it; it’s a very surface level approach to the whole thing.

But it’s the way most people approach it, right?!?

But what’s missing is that all these people have more than one program that they teach and, from program to program, it’s a completely different approach. It’s not the same thing, other than the surface stuff.

There’s no skeleton to it. And because it doesn’t have the same skeleton, it’s like a completely different being every time.

But each one has the surface stuff. So from the outside, it’s like the lipstick on the pig.

Everything is dressed up, but there’s no skeleton underneath.

But they are calling it, “this is your signature program” because that’s the one you one you sell the most (or want to sell the most) or it’s the most expensive program you offer.

But there’s nothing “signaturey” about it. No universal approach that you would use with anything. It’s like, mind-boggling to me. But it’s the exact same verbiage that you use, which is why it gets confusing.

That’s why I thought I had a signature system when you first asked me about it.

Me:

What you just described to me is more of like they teach you how to reinvent the wheel for each program that you design.

Marylynn:

That is literally, exactly what it is.

George:

Your signature system or core client process is really your way of articulating to someone how you see the world.

It’s the world through the eyes of Marylynn; here’s the framework.

Of course, you can add to it.

But it’s like the framing of a home, the structure of a building; it’s there.

And you’re not starting from a blank slate.

It’s like a tree: A tree has roots, trunk, branches, and leaves. There’s a general structure to it.

And a tree is a tree, but there are different species of trees. Just like you have different types of programs.

But the general framework, which is your core client process, or signature system, is still embedded in whatever other programs you create, even if it’s in a different industry.

Marylynn:

What you just described is what people really need to hear: The separation between the old way of thinking about signature systems (that I’m totally done with and that never worked for me) and what a signature system really is.

One day later… Marylynn sends me this in an email:

“Now that my eyes have been opened, I can’t believe all of these people are selling others on the idea of signature systems. But they themselves are confused about what that even is; they don’t have a signature system themselves!”

“They simply believe their system is a “signature” one because the exact process for the exact same thing can be repeated. But it’s not really replicable, or they’d easily and always be able to take their signature system and apply it to multiple modalities, niches, sectors, genres, and it’d work. But it doesn’t. If you deviate from their course, they can’t really help you. They don’t really know why their stuff is working.”

So now that you know what a “signature system” really is, you get to choose:

  1. Do you keep putting “lipstick on a pig” and call it good?
  2. Or, do you do the work to develop a real “signature system”?

Let me know what you think!

In the next blog post, I’ll share what happened to Marylynn when you applied what she just described during her next interaction with a potential client.

Stay tuned!

 

 

1 Though the term “signature system” is used generically in many circles, I was first introduced to the concept of a “core client process” in 1998 by my very first marketing mentor, Robert Middleton, who also referred to this as a “signature system.”

Ratcheting Up Your Revenue (Part 3): 5 Power Practices for Selling More – Enticing Your Customers to Buy More Each Time They Buy

Ratcheting Up Your Revenue (Part 3): 5 Power Practices for Selling More – Enticing Your Customers to Buy More Each Time They Buy

image about getting buyers to buy moreIn the first blog post in this series, Ratcheting Up Your Revenue (Part 1): Power Strategies Every Smart Entrepreneur Needs to Know, we covered an overview of the only strategies a business can use to boost its revenue. Click here to read that post

In the second blog post in this series, Ratcheting Up Your Revenue (Part 2): Enticing Buyers to Buy More Often, we covered a less costly but highly effective revenue ratchet strategy: Enticing buyers to keep coming back for more. Click here to read that post

In this blog post, we’ll discuss ways to sell more to your buyers by encouraging them to buy more and/or higher-end products and services each time they buy.

A word of caution though: Don’t rush out and arbitrarily raise your rates. Instead, consider the following “power practices” and apply them thoughtfully as you go about increasing the size of each purchase. 

Selling More: Power Practice #1: Give your buyers obvious and easy reasons to buy more with each purchase. 

Let’s look at how you might do this. First, you have to understand their needs; how do you fulfill their needs? In other words, you want to ask the question, what’s the best way to solve your customer’s problems and fulfill their wishes and desires?

How do you figure what your buyers want? You have to ask them.

Here’s an instructive snippet from a conversation with a coaching client that illustrates this point:

Me: “What’s your value proposition?”

Client: “We make life easier for them. We help them make more money.”

Me: “How do you know this?

Client: “I’ve been in business for 15 years.”

Me: “Okay that’s great, but how do you know that these are the specific results, improvements, outcomes and experiences that you’re providing for your clients?

Client: Silence for a little while.

Me: “Would you be willing to directly start asking buyers why they bought from you and what they want more of? Call them up. When they make a purchase, ask them. Do a survey, formally or informally to understand and meet your customer’s needs.”

Client: “I’m having a flat-forehead moment.”

You may already be successfully providing a valuable service; yet, you still would do well to speak with your customers and clients and get feedback. Ask this simple question: “What would you like to buy from us that we are not currently offering and if we offered something else, what would you want to buy from us?”

What you think you’re providing and what your buyers say you’re providing may be two different things. Similarly, the reasons why you think your buyers purchase from you may be surprisingly different than what your buyers actually state as the reasons. The only way to find out is simply to ask them!

Selling More: Power Practice #2: Continually add value.

Value exists in the minds, hearts, and experiences of your buyers. Similar to Power Practice #1, ask your buying audience: “What else can I add that’s valuable?” and “Is what I’m offering still valuable to people?” Times change, things change, economies change, mindsets and wishes and desires and problems change.

It’s important for you as a business to be adaptable and flexible enough to be able to continue to add value on top of what you’re already offering. The most efficient and reliable to do that is to continually ask questions of your buying audience and to listen to what your buyers are saying they want and need from you. You have to provide what they want before they’ll buy what they need.

Be aware that what buyers say they want to buy isn’t necessarily the same as what they really need. That’s okay. Sell them what they want. After that, you can sell them what you as an expert know they really need.

Selling More: Power Practice #3: Reinforce the ultimate value that buyers get from the business solving their problems and fulfilling their desires and needs.

Businesses commonly overlook such opportunities. A simply way to reinforce that value is by asking customers to tell you why they’re using your products and services, why they chose to buy from you, and what they’ve gotten out of them.

You may not always get desirable feedback but it will be very instructive and, used properly, will make a significant difference if you apply that feedback to your business.

You can reinforce the value by capturing raving fan stories, success stories, and testimonials, then sharing them with your potential buyers and existing buyers. This is called “social proof.” For instance, if you go to my website you can watch videos where you hear from the voice of some of my success stories what they got out of working with me. Success Interviews and 6-Figure Success Stories

In instead of or in addition to a “Success Stories” section on your website, you can sprinkle testimonials across different pages on your website as well.

Simple reminders with ideas and tips about how to get the most out of their purchase also serve to reinforce the value of their purchase and encourage potential buyers to jump on-board. TechSmith, the creators of Snagit and Camtasia, does a fantastic job of doing this through their “Your TechSmith New You Can Use” electronic newsletter.

Selling More: Power Practice #4: Focus on value conscious buyers, not price-sensitive consumers.

Price-sensitive customers buy based on who offers the lowest price for what they believe are comparable goods and services. They very often buy at the lowest price at the cost of quality, features, benefits, durability, longer-term value, and overall results.

For you, the problem with price-sensitive customers is that they tend to be disloyal when it comes to buying from you again.

They also tend to be the toughest to please and the most likely to be easily dissatisfied.

Value-conscious customers, on the other hand, buy based on trust, relationships, quality, service, outcomes, and the ultimate experience they get from doing business with you. Over the long-term, you establish an ongoing relationship with these customers in which you’re both invested. As a result, they are more likely to be fiercely loyal and supportive of the longer-term success of your business. Though their expectations remain appropriately high, they are more understanding, patient, and forgiving when things don’t go as well as intended.

In general, buyers who are value-conscious will buy more from you at any one time than price-sensitive ones.

Selling More: Power Practice #5: Shift your mindset to set your product prices and service fees based on value.

The more common approach is to set fees based on hourly rates, on what the competition is charging, or on what you mistakenly fear is what customers can afford to pay.

For a lot of entrepreneurs, this is a very challenging subject. It takes a committed effort to shift existing habits and mindsets. I’ve worked with a lot of people on this. For many people, they just aren’t as confident about stating their fees. When it comes to setting fees, frequently there is this little voice that goes off in the back of our minds that says “You can’t do that.” “People won’t buy from you.” “You’ll lose all your customers.” “Your business will come to a screeching halt.” “It won’t work. It’ll be a disaster.” “You’re going to fail.” This comes from mistaken beliefs about yourself.

What is the number one reason that people don’t set their fees based on value?

The number one reason that people have a challenge in setting their fees based on value is self esteem. They have a weak relationship to themselves in understanding and appreciating who they are and the value that they provide to others.

When you alter your beliefs, thoughts, and feelings about who you are as a human being, you gain greater confidence in the value that you have to offer and in setting your fees based on value. This inquiry opens up a whole host of other things such as emotional feelings, emotions that are based in the past, typically from our childhoods.

Expanding and upgrading your mindset about the value you provide and setting fees and prices is an ongoing process. Engaging in this work is likely to boost your confidence in the value you provide with potential clients and reinforce that value for existing clients.

In Part 4 of this series, we’ll cover 5 more power practices for encouraging buyers to spend more each time they buy from you.

Marketing Madness and Sales Insanity: I know we just met, but how would you like to get married and have kids together?

Marketing Madness and Sales Insanity: I know we just met, but how would you like to get married and have kids together?

In 1999, I was encouraged by some friends to take a class about personal growth and transformation. During the class, I couldn’t help but notice when a certain gorgeous woman stood up to share something.

During one of the breakout sessions, I ended up sitting next to this particular woman. Normally I have no problem thinking up things to say, even regarding topics that I know very little about. However, under the extreme pressure of sitting next to such an attractive woman, I was rendered speechless. The only thing I could think of saying was, “Did you know that your pager is going off in your purse?”

The little common sense I had remaining told me that that line wasn’t going to win the day. So the session ended with me not saying a single word to her.

To make a long story short, that gorgeous woman ultimately became my wife. We have been happily married for the past 13 years and have two rambunctious young boys who are teaching us a lot about being grown-ups.

After our first son was born, I was telling a friend—one of the friends who had encouraged me to register for the class to start with—about how I had sat next to Denise during the second day of class but didn’t have anything slick or suave to say to her.

Flirting at work.Retrospection being highly accurate, he suggested that I should have said something like, “I know you don’t know me, but how would you like to have kids together?”

Hmmm… Single guys out there reading this, don’t try this one out. At least, if you do, don’t blame me for your dismal results!

The other day, I was speaking with a colleague about the challenges of getting clients. She shared an experience she had had earlier in the day: Someone she had just met had immediately started a sales pitch. To my colleague, it felt like an attempt to pressure her into buying something. My colleague has a lot of past experience with sales and immediately knew what was going on.

Another misguided attempt to “close” a buyer without taking time to build rapport.

Her story reminded me about my experience of meeting Denise.

I still shake my head in disbelief when I see so many entrepreneurs out there trying to go back and close a sale almost literally after the first handshake. That’s the business equivalent of saying:
I know we just met, but how would you like to get married and have kids together?

PuzzleI’m not saying you have to take things slow as molasses, but I do recommend that you take whatever time is necessary to get into the other person’s world. Learn about them. Ask questions and listen for problems, issues, challenges, and frustrations. Listen for ways you might be able to provide suggestions or resources, or otherwise provide something of value in an unimposing, nonthreatening, nonsalesy way.

Over the years, I’ve come across a number of people who teach how to get clients by offering a complimentary strategy session, with the primary aim of having the client work with you or otherwise buy something from you.

This approach can certainly work. I used it for the first two years of my coaching practice. But I found it incredibly inefficient, as I wasted a lot of time doing these complimentary strategy sessions with people who I just wasn’t going to be able to work with effectively.

“If only I had a way to screen these people out!” I lamented.

I started tinkering with my approach to the early phases of engaging with potential clients.

Along the way, I wondered why so many coaches, consultants, and therapists just jump right in to working with their clients without so much as a plan, other than: “Let’s get started right away. We can schedule our first session next week.”

Instead of leaping from “just met you” to “let’s jump in bed together,” I teach all my coaching clients to offer a planning session as the next step after the initial “getting to know you” session.

Here’s the common approach:
Informal conversation => complimentary strategy session (a disguised sales session) => sign up client

Now, here’s the approach I recommend:
Informal conversation => screening questionnaire => complimentary discovery session => complimentary (or paid) strategic planning session

strategy

While there’s an extra step in the sequence I recommend, I’ve found in my own experience and that of my clients that taking this added step is going to increase your conversion rates significantly when it comes to longer-term, higher-paying clients. And it’s a more natural progression for your clients, making it easier for them to say yes.

Are you open to working exclusively with “high-end” clients?

Are you open to working exclusively with “high-end” clients?

You know you’re really good at what you do. You offer tremendous value. You make people’s lives better. Maybe you even help them make more money.

Yet chances are pretty good that for the sake of getting business through the door, you’ve been tempted to take on clients at ridiculously low fees. Or worse yet, you’ve agreed to work with clients that you knew from the start were a train wreck, just waiting for you to help make it happen.

There you have it: The perfect recipe for instantly turning the business of your dreams into the nightmare of your day.

How does this scenario sound instead?

What do you think about working exclusively with clients who appreciate you, who value the expertise you bring to the table, and generously (and gladly) pay you for it?

I don’t know about you, but it sure sounds like the makings of “business nirvana,” where you work exclusively with “high-end” clients. You see, high-end clients are those whose values, business mission, and vision inspire others, including you as their consultant or coach. These clients take action and produce results in the real world. They’re simply fun and energizing to work with.

The curse of low-paying, lousy clients: Is there a cure?

But even with great clients like this, far too many service professionals end up undervaluing their worth. And so they end up under-charging. Or worse: Repeatedly giving away tremendous value for free.

Let’s take a look at this more closely. The “Client Profitability and Resonance” dashboard, shown below, displays a hypothetical roster of clients, based on their level of profitability and “resonance,” that is, whether you have good chemistry with the client (or not).

Starting in the left lower-quadrant, these are clients who aren’t very profitable to work with and they have the worst “chemistry.” In the short- and long-run, you’d best AVOID these clients at all cost.

In the left upper-quadrant, these clients are profitable, but the chemistry with them isn’t great. They are HIDDEN LIABILITIES because these types of clients tend to be less appreciative of your business and more likely to dump you with barely a moment’s notice.

Moving on to the right lower-quadrant, these clients with whom you resonate well, but they aren’t as profitable to your business as they could be. No matter how fulfilling it may be to work with them, you’d do well to UPGRADE these clients to higher levels of profitability.

Finally, in the right upper-quadrant, you have your HIGH-END CLIENTS, the clients who are the most rewarding to work with AND the most profitable.

Which quadrants do your own clients fall into?

If the majority of your existing clients are NOT in the “BEST CLIENTS” category, there’s room for upgrading your business model and best practices. That includes raising your fees and being a lot more selective about your clients.

A High-End Client Tractor Beam?

If you’re ready to give up hourly fees, chronic underpricing, working with borderline clients, and giving away tons of free consulting and coaching time, I can to show you how to work exclusively with high-end clients AND get paid based on the value you provide.

I invite you to be my guest for the “Paid Sessions That Sell: How to Get Paid to Get High-End Clients” webinar. This complementary webinar is scheduled for Thursday, January 26th at 5 pm Pacific (8 pm Eastern).

To sign up for the webinar, just fill out the form below.

If you’ve ever experienced frustration in getting clients to start working with you, or ended up working with clients who don’t pay you what you’re worth, this webinar will open up your mind to an approach that I think is just ground-breaking. And it’s not just because you get paid to prospect. It’s ground-breaking because you learn how to:

  • Eliminate all “tire-kickers” (who simply waste your time)
  • Select only high-end clients to work with
  • Markedly increase your conversion rates (in some cases, 75% – 90%)
  • Set your fees (and get paid) based on value and results produced
  • Get PAID while you prospect!

To your freedom, contribution, and prosperity,

George

P.S. I used this very approach over seven years ago to create an annualized, six-figure revenue stream in just 73 days, when I started my business from scratch. And it’s not just me: I guided one of my clients to create his annualized, six-figure revenue stream in 70 days!

P.P.S.I’m excited to share this approach with you because it’s so powerful and effective for cultivating a solid connection with your prospective client, winning new, high-end business, and ultimately, providing outstanding value to clients at all stages of your relationship, even from the very beginning. To sign up for the webinar, just fill out the form below.

If You Want to Build a Better Business, Get Rid of Your Customers

If You Want to Build a Better Business, Get Rid of Your Customers

That is, get rid of your worst customers. Your worst customers are the ones who are price-sensitive, rather than value-conscious.

What’s the difference?

Price-sensitive customers buy based on who offers the lowest price for what they believe are comparable goods and services. They very often buy at the lowest price at the cost of quality, features, benefits, durability, longer-term value, and overall results.

For you, the problem with price-sensitive customers is that they tend to be disloyal when it comes to buying from you again.

They also tend to be the toughest to please and the most likely to be easily dissatisfied.

Value-conscious customers, on the other hand, buy based on trust, relationships, quality, service, outcomes, and the ultimate experience they get from doing business with you. Over the long-term, you establish an ongoing relationship with these customers in which you’re both invested. As a result, they are more likely to be fiercely loyal and supportive of the longer-term success of your business. Though their expectations remain appropriately high, they are more understanding, patient, and forgiving when things don’t go as well as intended.

What’s more, value-conscious consumers:

  • Are more likely to become evangelists, telling anyone who will listen about how great your business is.
  • Naturally generate qualified and quality referrals to your business.
  • Respect your values and approach to doing business.
  • Are people whom you usually enjoy working with.
  • Sincerely appreciate you and what you do for them.

In short, value-conscious customers give you what I call “enhanced customer lifetime value.” They will outspend your other customers and contribute significantly to the stability and expandability of your business. They are more likely to buy more from you and more often than anyone else.

Here’s a real-life example of enhanced customer lifetime value from my work with a new coaching client:

Bob has run a small business bookkeeping service for the past ten years. He employs several staff members to serve a variety of small businesses, ranging from solopreneurs to multimillion-dollar enterprises. In one of our first conversations, Bob shared that he was struggling with growing his revenue stream. This in spite of a loyal client base, some of whom had been with him since the start of his business.

I inquired about the range of fees that Bob charges his clients and what he provides to them in the way of service. Bob said that some of his clients have made comments such as, “I don’t know what I’d do without you.”

Given the value that Bob’s bookkeeping service provides, it was readily apparent to me that he has been undercharging his clients. When I questioned him, Bob replied that for the past two to three years he has been meaning increase his fees, but just hadn’t felt comfortable following-through.

Why? He said that he still needed to add certain offerings to his business before he felt good about asking his clients for more.

But here’s the real problem: Deep down, Bob didn’t believe in his own worth and, therefore, didn’t have an appropriate appreciation of the value he provides.

After only our second coaching session, my coaching to Bob was this:

  1. Raise your fees.
  2. Write a letter to your clients to acknowledge your true gratitude and appreciation of them.
  3. Include a recap of all the new features you’ve added in recently and include reference to the value you provide them.

Include notice of pending fee increases and to expect a phone call from you to discuss the changes.

Naturally, Bob feared that he’d lose a lot of clients in the process. He was afraid of what his clients would think. But, with my guidance, he did exactly what I coached him to do.

The results?

  • Bob increased his monthly cash flow by almost 15% after our second coaching call.
  • After our third coaching call, he increased his monthly cash flow by approximately 25%–that is, recurring cash flow he can count on month after month without having to market to get new customers.
  • In less than one month, he went from a negative cash flow situation (due to recent significant capital expenditures) to a significantly positive cash flow position.
  • Rather than being trapped by his limiting fears, concerns, and beliefs, Bob elevated his appreciation of the value that he provides his clients and he upped his confidence (and his bottom line) by charging based on value.

And oh yeah, he did not lose a single client.

Compared to attracting and acquiring new customers, it’s far easier and less costly to retain value-conscious consumers. In this case, Bob has a stable of value-conscious clients. And he proved it.

To get rid of your worst customers, here’s what you need to do:

 

  1. Overcome your own fears and limiting beliefs.
  2. Clearly communicate the value you provide to your buyers.
  3. Identify the characteristics of your best value-conscious consumers and know who they are.
  4. Cultivate your relationships with these value-conscious clients and customers.
  5. Provide great value to them.
  6. Reinforce the value that they get from using your products and services by reminding them periodically.
  7. And keep adding to it—then bill ‘em fairly and appropriately for it.