Be A Strategy First Agency | Consulting Unleashed KeynoteJun 10, 2021
okay, okay, thank you, thank you
firstto get a sense of the room, who is selling the
strategy, okay, many hands, many hands, okay, which is good, so that will give us the opportunity to can pass. This is pretty quick and then we get into Q&A to see how we can amplify it for you, who here see yourself as an expert, are you an expert at what you do? By selling your experience correctly, you are selling it in a way that feels natural and I'm going to do the opposite of Smike thinking and tell you how to sell your experience in a completely different way, so why sell
What really is strategic thinking and how to sell it? sales and delivery strategy, so one of the things is who does the data-driven market research in the strategy, because a lot of hands came up, we had one too, so the reality is if you're not doing data, yes, no You are doing it. strategy is not a real strategy and I'll get into that in more depth in a moment, but the reason we want to sell strategy is if you're selling services and I'm assuming that everyone who sells services of some kind here is selling services your customers see that as labor you don't see it as experience your client sees it as labor and labor is interchangeable we live in a global world you ask yourself if you want it or not you are competing with everyone else on the planet who does what you do, that means that even with recurring revenue services your value decreases over time, the work loses value over time because what your client starts to think is, hey, largely, he's a great guy, I love you, man, you do a great job, you do a great job, but I think I can get it cheaper.
This happens every time people start to devalue what you sell over time, the more you say they say as a customer, the less they value what you do and that's why strategy is so important, who? Am I Tim Conley? I've been doing this. I have been working with agencies for two decades. If an
agencyhad done everything, trying to be a fancy type of advertising
agencytrying to win awards and all that, then I've been in the trenches for a long time and I've been helping agencies fix their businesses, you get a few millions of dollars in revenue and then suddenly you want to kill everyone around you because your clients are driving all your people crazy.
They're driving you crazy like a Rob Nixon talk, yeah, when he was out, he was like, Oh, blink, blink, whiteboard, I don't have to deal with any human beings from now on, and that's what was motivating him. I put together a lot of those businesses that are marginally profitable, but could be hugely profitable with a lot less stress, so the business case for strategy is why you should be at the strategy agency
first, so the first thing you need to sell is their experience, not their service, and there is a difference in their service. manpower, remember what you are doing is you need to sell your expertise, the person working with you needs to believe that you are the expert not an expert, let me tell you once again they need to see you as the expert and not an expert .
So the best way to do it is to start with strategy and I'm going to start using strategic thinking from now on because we're not really going to do a full strategy like Mackenzie does. We are not going to do a two-year strategic program charging three million dollars and delivering a gigantic report at the end. We're not going to do that. We are actually going to solve customers' problems in a very quick way at first so that they see us. as an expert to solve your problems in the future, so this is something that I have been rejected and therefore there are already enough people selling that you probably won't see this rejection, so I should do that.
I just want your service. I know Headley builds websites and if you go to them and say, I just want you to build my website. No, I don't want that. I don't want that strategy. I just want you to build my website. One of the things we need to address and by having this strategy going forward, the reason they will buy it and be excited to buy it is the business problems it will solve. I don't know it exists, so the best analogy is a doctor. You go to the doctor and tell him. Hey, I have a broken arm.
I know exactly what's wrong with my arm. It's broken here and that, just fix it, fix it. For me, I don't want you to do anything else, just fix that, what is the doctor going to tell you? He is the doctor, he is going to say that we are going to have x-rays. Sure you might be right, it's probably broken, you might need a website, but Let's do x-rays and see what's really going on because we don't even know that maybe there's a break, but what kind of break is it? Is it a break that we can simply splint or is it a break that we have to do with surgery?
We don't know yet, so the first thing doctors will do is diagnose and you learn a lot more from a doctor through that diagnostic process, you learn what's really wrong with me, hopefully it's right, and this is something that Your clients find value when they come to you for any service you have. I know Simon advertises on Facebook. They come to you like you want Facebook ads. Well, why even Rob's when Rob Nixon when he was speaking? The first question is why are we even talking, that's the first question that will make a client see you as an expert and not an expert, your profitability sees this is something and Rob was talking about this, I think he said: What was the 94% profitability in your coaching?
Well, you can have 94% profitability in your strategy, maybe not 94%. I average around 90% profitability on the strategy side of what we do because it doesn't take much to deliver, in the end the client is very happy with it. and there's no, there's no comparison, so if someone comes to you and you offer them a strategy and says, okay, I want to compare your strategy to someone else's strategy, there's literally no comparison, there's no way they can match. that Facebook advertising, they will go. oh what is your price and you will say a price and then they will look for someone who is cheaper because they just assume that the labor is identical but when you do strategy and you sell strategy, your strategic thinking then your profitability will skyrocket. and then I'll talk about what this will do for your business overall.
We are not selling a McKinsey-style strategy. We won't do it. I think most people here are the biggest customers anyone has here. size, what is our income? Fifty million, so fifty million. You could start getting into the McKinsey style. You could do it if you wanted. You could actually do great projects. Large strategic projects for a 50 million company. I have one of my agencies in the construction space. and we got a lot of clients from a hundred and fifty million and up, we even had some that were in the billion dollar range and we tried to sell them bigger projects and they weren't even interested so we found out that we had to do smaller strategic projects and then scale them up.
So most of us here are not going to try to do something really big, we want to sell our thinking, our experience, we are going to make our experience and thoughts that is. nothing more than the thoughts and the knowledge that is stuck in our head, we will turn it into a consultation process with our clients and that consultation process is what will derive, they will get value, but the best part is you don't go into it blindly. no project, like how many times have you started a project and it changes drastically, uh, all of a sudden, clients are like, yeah, no, I don't like any of that, that's not what I wanted. advertising that's not what I wanted that website is not what I wanted I wanted this I had this other idea it's like no, that's not what we talked about but that's because they weren't clear and you were so eager to sell your service that skipped strategy for the client who didn't get caught up in the vision, the clarity needed to have a successful project, so this is from a company saki-san, they have a great way of structuring this, there is value in different levels of strategy, so one of the things that I don't know if you can read from the back of the room, down here, at the bottom, I don't know if I have a laser down here, the campaign strategy, so this is for marketing In the world of marketing, at the core, there is your service, the strategy that you are going to use to plan what you are going to offer, so with Facebook ads, we will run an initial campaign, so I'm going to do that that's that strategy is the lowest value strategy at the top is when we get into the business in general why are we doing Facebook ads in the first place what if we get into the rest of the business and find out that you're No, you need some Facebook ads Facebook, but you really need something else.
You have an operational problem. That's one of the things that led me to do what I do. I worked with so many clients over the years. Sabotaging my advertising campaigns because it turns out that even though they said they wanted more clients, they couldn't actually serve more clients, so they sabotaged the program. So what I did was learn how to trade. I learned how a company works. I would come in and fix how they would be run operationally so that we could actually bring a lot of customers into the business without crashing the business and this is something you may never get there, even in integrated marketing.
Integrated marketing would be all kinds of marketing that they're doing TV radio like I ran an advertising agency at one time and we did all that TV radio back then we called it clicks and mortar we were doing everything and so So, you can start doing strategy at that top level, you can do the strategy at that top level, but just deliver your service like Simon could do a trading strategy at the highest level, earn eighty thousand dollars just for doing the strategy and then just deliver Facebook advertising. This is going to have a lot more opportunity in value and what you can do, you have more opportunity in terms of what you do using these levels, so let's package it, sell it, and deliver it, so just a little note and I did it.
I said this as an aside. I'm going to go through this quickly because I really want to get into Q&A, that gives most of you a selling strategy, so I want to be able to get into Q&A quickly, so let's go through this pretty quickly to package the discovery. payment, who does the paid discovery? What you call strategy is a payoff. discovery is really like you're scoping the project or you do more than that right, so paid discovery is the easiest, it's at the bottom, it's the lowest, the lowest type of strategy you can do .
Strategic thinking is paying. discovery is paid to determine the scope of the project, you can't call it paid discovery, no one will give you money if you say, oh, what we're doing here is you're going to pay me so I can sell you well, they're not going to go. I'm not going to accept that, so you're going to call it a roadmap, you're going to call it an audit, you're going to call it whatever you want and that's how I structure my paid discovery and it turns out to be one. two calls generally only one is an interview process and a structured questionnaire is used and a report is provided.
My report that I do most of the time is a verbal report because I like to write, so I just tell them and we record it and if you want, I can ask someone to transcribe the recording, but I'm not going to write the results of this report. I'm not going to do it, but at our agency we deliver a report that says this is what you need. do this is the next thing you should do and you can and this is how you can do it and you can go somewhere else and let someone else do it for you for those who pay find out how often those people say no I'll do it Go find someone else to give it to me, like it's rare, right, it's very rare, so the fee is about 10% of your course service.
Now I'm going to use percentages here, but here's the question if this results in a small number. If 10% is a small number, guess what your main service is, it's too cheap, then this number should be between two and ten thousand dollars for the road map, which should be about 10 percent of your service. If so, if not, then its service. It's probably not comprehensive enough for your clients or you could do it at, say, an agency I know that makes their package branding cost $25,000. Their roadmap that they make costs four thousand dollars, so that's more than ten percent. eighteen seven I don't know, I can't do math, so next up is a strategy workshop.
I love to do this. I actually loved doing this. I hate getting on a plane, but I like doing this. Conduct strategy sessions as a workshop. to two days on site or live in person online, there is a software called mural that you can mix and match with, for example, GoToMeeting or zoom or something like that that allows youhaving an interactive whiteboard which is a great tool for doing online workshops so you don't have to go to someone's location or have them come to yours, but the thing is, I've tried it in person, live, it works better every time. time for strategy and the thing is that you probably won't cover any more content than you covered in your interview in the paid discovery interview.
You probably won't cover more content in that one or two day period, but you will get a deeper insight into your client what they are really thinking is very powerful I really love doing it the fee is about 25% maybe a little more of your course your service of course again this if you are charging for this project one day $10,000 is what we do, if you spend more than two or two days, you will see 15,000 or 25,000 in that range depending on what is being done in other associated expenses, so that you have to manage that because if you come in and your strategy is $80,000 and then your service is $30,000, there's not a good mix here, clients aren't even going to be able to understand why that disparity exists, so the next thing is actually strategic
I do this with my clients, my agency clients, where we. They do one, two and three months of real immersion in their business and this is much closer to something you would see in a large
consultingcompany, but at a very reduced level, as if we were only able to cover a small amount of what they the the business is going to achieve, but we can get exactly the information that the client is looking for and we and the best part is that one of the reasons I like it to take me up to three months is that I look for the psychology of my client.
I really want to know what motivates them because I've done enough consulting. I have done enough coaching. I've done enough business to know that if you don't understand your customer, they will never understand you. To get the results that you really want, that they really want to get, you have to understand them, so the more time you are involved in the thinking side of your project, the more time you are involved in the thinking, the longer it will take to perform the services and I know this is contrary to the way most of you operate your businesses, the more time you spend before you start providing services, the more understanding you can have of your customer.
I'm going to let that sink in, so the fee is probably 50% of your core service and you may be able to offer it for a lower amount. You may need to charge a little more, but about 50% of your core service should be a single agency consulting project and I mentioned the eighty thousand dollars that this blind agency charges eighty thousand dollars to do their strategy before building the brand for your clients, so eighty thousand dollars and then the actual project they will do is a quarter of a million and in order for clients to find significant value, you may be charging.
I say their main service is fifty thousand dollars. You may be able to do this service for twenty-five thousand. You may be able to do that. I may have to move it around a bit I sell it. I can't give you the script I do because it wouldn't fit everyone here, but I'm going to get into what really matters about this, like I said, payment discovery is the simplest. The easiest and fastest way to participate so that you sell your ideas first. It is one of the first ways and it is easy to do. A prequalification call is required.
You just make a simple prequalification call and let them know here. is my process, the process is that we do a paid discovery, then the next step is that we will actually do the work for you if you choose to use us, that is, if you are using the term roadmap or audit or something like that, the best part. Do they pay you to define the scope of the project? Change your language. This is the only thing I've worked with some of the companies when they say yes, the strategy is that they're not actually using the language strategy that I've worked with. a lot of marketing agencies digital marketing agencies and they use words like leads, we get you leads, we get you clients, that's work, you're telling the person from the beginning, I work for you, you're not telling them I'll do your job. business. better and you are telling them that I will work for you to make you better, it is a nuance, but it is important to start changing the way you talk to your clients if you want them to see you as an expert and not as an expert, you have to change the way what you're talking about, the sales ads, the website has to show the thinking, so if you make a lead magnet that says how to do the five ways to do something right after you get that lead magnet, you have to go into the strategy that you have That immediately starts talking about it, if all you do is give them instructions and then you say, oh, we do that as a service too, right?, you just jump into work, that's how most sales processes work and most sales funnels, but when they get to those sales.
Call and you will be fine. Our process is that we will sell you our thinking first and they will not believe you. They won't buy it. They are not pre-framed to see you as the expert. They will see you as someone who is going to do their job. They have already diagnosed their own problem and they just want you to comply. Narrow your focus. This is me. I will admit that I am against Nisha. I know. I know. The entire room is silent as if it were an anti-finish, not because it is not wrong, it is insufficient.
I'm in industries so you can start at Aneesh but the thing is you want to be able to serve the industry if you ever want to grow if you ever want to run a real agency if you want to run an agency you need to be able to charge custom pricing and that It means you have custom pricing, which means premium pricing, you should be able to move up. In the market there are a lot of niches that you will find, like I have some clients and I like dentistry and chiropractic and all that, and they found that the price sensitivity was pretty fast and it was very low, very low, because and what if you go above of that or even if you sell it for that amount, they will jump from one agency to the next, they will never see you as the expert, but if you start looking closely, I am serving the chiropractic industry. or then maybe that gets me into what happens with all those things that chiropractors buy well, who sells them, how I like it, I like wholesale trade, I like wholesale industries instead of retail industries, I like They like people who sell things to people who do things well on set. the people who sell picks and shovels and not the people who dig gold, right?
I like to sell to those types of people, but narrowing your focus is about your specialty, it's about, oh, the worldview that you solve, do they have the same thing, do they have the same thing? perception you have of the world or can you reflect theirs, can you solve their problem based on what they want to achieve the way they want to be seen? If you look at the big advertising agencies, they work with many different types. There are many different companies and most of them may like consumer packaged goods, which may be the only thing they have in common, but they are able to jump from one industry to another because they use the knowledge they think they have.
Let's go after that instead of oh I'm a specialist in making television commercials like most of us, most of us in the digital marketing world are trying to sell. I am a specialist. I'm good at doing Facebook ads, right? I'm good at reaching out to your customers' insights and introducing them to your brand and driving business, driving growth, driving market share, we don't talk like that, but if you specialize in an industry, you'll develop expertise and this expertise is why. Why choosing a specialized industry is so important is that your experience grows and then you can start to gain insights that allow you to solve the same problem faster and faster, yes, everyone else calls it productization.
Don't do it, because productization doesn't allow you to reach too many premium prices. I like to go above that and where we can solve a premium problem and we can do it quickly and that's where our profitability will be. it's going to get better okay so deliver it your deliverables are intangible they're not labor like I said before I don't even write a report I just talk about it in our agency we actually write a report we deliver it but in my consulting just tell the client and they write it down lots of questions several meetings the final deliverable is an action plan I give my clients an action plan and do you want me to help you do it?
In our agency we give them an action plan for all the things they need to do? Do you need to change your brain? Do you need to change your logo? Do they need to do videography? Do you need to create new radio ads? Do they need a new website? Can we do landing pages like all those things we do? I would list it as part of the action plan, it's not like I'm trying to emphasize this, there's not much here, it's intangible, but here's the part about delivery that I'm going to restrict k-- yourself think with the client that all they want to be treated as a partner to everyone, how we partner with our clients and that client doesn't see you as a partner at all, because why do you do all your work behind the scenes, how many people make their clients work with them like they do. we go in and we work together we sit down and make ads together we do this most of us don't do it but what I want you to do is think face to face, I'll do all your thinking or at least the predominant parts the parts that make you look amazing, do it in front of your client and you can do it online, but again on-site if you can do it on-site if you can do it on-site or if you're just willing to do it on-site John, how much time do you spend on a plane visiting people?
Yeah, okay, so that guy is crazy, right? Somewhere between a little bit and 11 months a year is what you are, the sweet spot is somewhere in between. there's such a recurring thought that this is something that I love so one of the things that I'm against is recurring revenue, most people do recurring revenue wrong and it goes back to that statement that at some point moment your client will think I can do this cheaper, but thinking is something you can do repeatedly and I asked Headley at lunch and told them I was going to draw their attention to this as well.
I asked them: are you making strategies? I'm doing strategy. I'm like, okay. your sales strategy continues is like no, no, I don't know why, I don't know, we didn't even get to that part, so why, but this is something that will always make your service more valuable if they pay for your way of thinking. on an ongoing basis, you don't need to call yourself a coach, you don't need to call yourself a business consultant, just say it's part of our process, our process is to help you grow your business, so the only way we can do it . is to be able to help you grow and the only way we can do that is if we bill you for the strategy on an ongoing basis, so here's the key to that, so who's thinking for your clients right now?
Who gets paid? a recurring service at this time, do they know what they are paying for? You are thinking of a line item. Seriously, you put it as a line item strategy and do a monthly call with your customer. How many of your clients like that? you send a report, how many of them read the report? I've worked with SEO companies and all kinds of people who get this recurring income, the report is never read, the client never wants to show up on a never call, you get some like oh I love what you're doing right and probably be with you.
I think it's probably you. You're providing value every time, right. Most people just read the damn report to their clients, that's why they don't want to show up, you're not really building your business with my clients, they, I'm not a great guy, I'm not a good guy, they I shout sometimes, but they still show up to everyone. just one call and they can't wait because I improve their life every time we talk. Do you do that with your clients? Do you improve their life, not just their business, their life every time you speak? Even if they call. with a problem and they complain and say: you are working, do you turn that into improving their life? you like this is and this is who I am this is what I preach this all the time this is the best way to prove it you are the expert is that every time someone in your company talks to them, their life improves and then you bill them , it's on the bill what I prefer is a monthly fee, so if you're charging, let's say $5,000 a month, find a way to either increase that to 7,500 or find a way to reduce the amount of this service and cut a section of that $5,000 thinking about calling it strategy and you will have formal meetings with your clients.
Strategic meetings. May, you can do the monthly meetings. do it quarterly, but you will have them right and it has to be an individual item, if they don't know they are paying for it, they don't value it, they won't show up to the man who calls. I love this guy, so why are we doing this? moMoney Mo Money Mo Money no problems, that's how it is and I always have to have some silly joke in all my talks, but this is not just about your money but about the client's money strategy. make money make more money than just doing your service, they will pay a lot more for sure, you will charge them a lot more than what you are charging now, so now, as John says, that is your poverty package, your next level will have a strategy and You'll start with it first, you'll start with the strategy first and it will make you more money, but it will also make your clients a lot more money, even though it's costing them more.
Well, let's do some questions and answers. This is much better than giving talks.session, but you know how long, when you make the cut, you have the multiple options given, well, the only ways to say yes, yes, okay, then I wouldn't do it, so there are several ways different from doing business, right? You'll get what John He may have been talking about and I don't want to put words in his mouth. Are you selling your service? You actually have your service A B and C. Those are your options that are included in the route map. Here are your The options here are your options B and C, but we are strata, we are a strategy first company, we do strategy before we can tell you what the three options are.
I have no idea what will work for you yet. I have not defined its scope. project like we don't know, we don't know each other, we have to know that you have to take a girl out, so we don't know each other very well, so, let's get to know each other and then I can give you the right recommendations and in those recommendations there could be a B and a C if they are so strategic, then anything else yourself if you are setting up an appointment to sell the strategy, you are setting up the team before the strategy.
The next logical step after strategy is recommendation: you are setting up a solo strategy. Yes, Rob said it before. I think I said it before. Is this something you're eating now? Is it important to do it now or is it something you need? to do it later and it supports the bottom menu on the wrong side, is it something that option A or option B I would like to say yes, okay, cool, would you like to do that? We can do a small amount of movement. Oh, I was also working out the butt slider tomorrow, so I did that. not on purpose because I'm mainly trying to follow my process.
Rob Rob was saying before and it goes to a phrase that I say all the time small hinges big doors that open we only want a small number of people so it's best to get the ones that are going to do exactly what is best for us and for them not the ones you have to solve something well. I did it accidentally where it's like oh oh and it was done this way. selling online we're going to do the workshop online and the guys like, well we're in Utah, can you? And you're in Phoenix. It's a one hour flight.
Can come? And I said: well, for me to do that. will be this fee and they're okay so I did it accidentally it wasn't on purpose but yeah you could but the thing about being the expert instead of an expert is that the expert has a correct process if you divert the process for a client, then the client is the expert and you are not, that is the difference, this is because, well, you are at the beginning of a sales process, you are in a battle for control and the one who ends up negotiating the one who wins with more control and that's usually the customer, but if you start selling better, you learn to say: this is our process, this is our policy and we don't deviate for anyone, well granted, we all have a price, so I will eventually deviate , true, but we tell them, oh, we're not going to deviate, we're not going to deviate from this, so at some point they're going to back off and that back off is not because they don't want to pay for it, but it is.
It's not because they don't want to do it, but because they are trying to gain control over the conversation. They want to be in control of the relationship with the customer. You need to maintain control of the customer relationship to be an expert, otherwise you will become an expert. a supplier, if you don't have control of the sales process, you are sure not to have control of the rest of this project. That is the main answer. That's why I like it. I said it's accidental that I would. I'd rather go in and say this is it and then figure out why we can't come to an agreement on why my process doesn't work for you than this is how I do it well any other questions I have I think here she can be prevented, that It would have been smart, right, I'm not that bright, I'm a go-getter so I think I can fix everything, so that's what I did.
I liked that I had been voraciously reading all kinds of business books, you know, I thought it was the second coming of Peter Drucker and I thought, "I'll solve your problem," thanks, that's what I did. I just went and read a bunch and then worked closely with my clients and seeing how, oh, if we do this in your business, this happens, okay, so I go to another client and say, hey, I know how to do this, this is how I made the transition III. I wasn't strategic at all, I don't think that far. In advance, now I'm kind of a Headley Gaza person, as part of the strategy.
Yes, in my experience, as a Dada, that is connected to work. Don't they teach classes? I care about my Excel, hey, the terms that you want to convert on your website and turn it off for this, they want you to focus the SEO content on that or whatever, okay, okay, we're not when I say data that I speak, it's time to not talk about things related to service because that is not strategy. that's just defining the right scope of the project so that clients don't care about your labor, they don't care, but I, the data that McKinsey is looking for is good, what's the right market?
Who do we serve? Some of the things he can start to implement especially. If you're in marketing, you work with your clients to identify their ideal customer. Guaranteed, most of your customers have no idea who your customers are. That's a powerful strategic service that simply analyzes your customer base and then links to it to say a website. Okay, that would be the data that you could start moving with. The reason we can't go too deep into the data for small businesses is that they don't have the budget, they just don't have the budget for you to do it all. come here first and I'll get back to you the race uh the strategy is the bridge because okay okay I won't stop you there easily that's the problem so we'll solve hard problems if you want to get paid a lot of money I mean , a lot of money, you solve hard problems, well, that's your hard problem, you have to solve it in your own business, it's not easy, it's kind of easy, it's scalable, like Rob was saying, oh, he couldn't scale coaching, oh.
I tried, but are there coaching companies that have scaled? Yes, Tony Robbins Tony Robbins around the world does a hundred and something millions of coaching and he doesn't do it well. So is it easy? No, I bet it was a headache. for him to build properly so if you want to start strategizing look at how you would recruit or as I tell most of my clients it's who and your company aren't you tapping into your potential as many of us have smart people who We're just not even trying to access that mass between their ears, we're not even trying, so if you find out that this person has potential in my business, why don't I start fixing them?
Will you be that person? execute your own strategy in the next few months, yes, maybe not, but maybe in a year they will be executing them and not touching you at all, so find someone you can groom, so start grooming your leadership in your company, that's going to be fine, then the biggest problem is that you have no influence, you have to wash, yes, but you or even just run a company, like what happens if you get hit by a bus, God forbid, none of those things. Other people you are outsourcing will continue to run your business, so you really have no influence, you have labor that is easy to take advantage of, so if you can outsource labor to someone else, you can too.
Your customer is true, so what you're providing you have to learn to build that part of the company, the part of the company that provides that, makes it valuable to use instead of just bypassing you and going to the people you use . I got here first and then I'll come to see you, yeah, what, okay, so the project, so, I'm a project that Minh didn't cover, there are three ways you have to invoice correctly, you have to invoice this is correct. At first you have your strategy, next is training and then third is your ongoing entitlement, which is why a lot of people just do it as part of their service.
You have to have project income if you are ever going to survive as an Agency, I know that goes against what everyone likes to talk about, but if you don't have project income, you are never going to survive, you are going to struggle. , then you complement your project with that recurring income, so what we analyze. Isn't that individual the one who saves first? What happens if you do a project and then get your recurring income? How much is that in a year? and then you take that ten percent right. So we're looking at a client's annual annual revenue and we're going to take ten percent of that, yeah, and that's going to be the first part, yeah, well, if you choose to do that, you might never have to do it, you might.
Never do a workshop for your clients. I like to make them. Because you get so much information, it's amazing, but you don't have to, that's an option, so those are the three options that you can do as a strategy like the interview and it takes maybe two hours at most and you're done, and you send . them, a report and all that, the other one, you work together with your client, you get an idea, you cover essentially the same content, but then you choose the option of doing a consulting project where you analyze that whole business, you go deeper into that company and then you go into your first project and then you go into your recurring income yeah, yeah, yeah, yeah, you don't like it, but, but, but no, it's not set in stone like these numbers, that's why I said that's right, it's separate, yes. should be separated back here, in the back, the first transitions super good, someone who shows high levels of curiosity, you can't be strategic and not be curious, there is not a single person who lacks curiosity and is also a strategic thinker , that's the best for the best.
The first thing you have to look for is this person in your life, he's just like, "Oh man, I wonder how it works, that's how I got into operation, so I was like, no, I wonder how it works, I'm just curious, I don't know." and I like how." Does that work? How does it work that way? If you find someone like that, then you can coach them to adopt a strategy, because then when they start asking, what is all this like? What's behind the scenes? When you think you can prepare that. to show them over time because they gained experience because you can't make a strategy without experience, they gained experience over time and then they can have ideas that the idea is a great strategy, okay, I think there was one here and one there.
Go ahead there's the envoy and the eye care without candy does that mean yeah yeah dude yeah so the one thing I've worked with a lot of clients on is they tell me to make a website and then they do the marketing right and then? They don't start marketing and they don't start billing for marketing until they finish the website. How long does it take for a client to get content so they can finish the website? Sometimes, months well, things just wait to arrive. paid, that's dumb because they're not connected, they're not really in sequence, you made it up by incorporating your initial project, building all the things you have to do even to advertise, like you start with that and then the other. part, figure out what you can do because you may not be able to spend money on ads yet, you may not be able to do that, but what can you do that's associated with that so they understand from day one that we're paying?
I may not pay to do the advertising yet until 30 days later because we have to finish the project, but it's already billed that way, it's already built into the billing process, so they're going to be hurt before it starts, so agree, so find out. how they run in parallel, find out your services that run in parallel and build the ones that can be built at the same time, at the same time, so I do that with our clients, we do it as a project, so we have an inside the roof . space we have a twenty five thousand dollar project we are about to turn it into thirty thousand dollars just because yes it will be 30 thousand dollars and we do these things for you and they are done well and then we have this other one This is the continuous part and this is how it we will develop there - okay, we could publish ads in two days, but we will not publish them in week 6 because we have to do the onboarding process and make sure that The team has extended to drive weeks, so we did our training , we provide themto make sure that their phones or the implant process actually knows what's going to happen and then once that happens, we execute the axe. six weeks here they already claimed they're ready for this second month of construction in advance but we haven't run a single ass yeah okay so let's get back here yeah so if a potential client is going to pay you for your thought, most likely your positioning has to be very small because other agencies make that query for the right three, so what can you say about how to position yourself during the call or before the call so that they feel very confident and strong about MediaTek?
Well, inside that resource guide. In fact, I have a video on how to do a qualifying call and it talks about pre-framing and what to do to pre-frame someone before they get on that qualifying call so that when they get on the call they already see you as the one. expert. but let me challenge your thinking that it has to be Rob Nixon, he stood up here and told you that he emailed people who had no idea who he was and sold them $40,000 thinking that if you make that offer to the client, if you tell him that this is how we do it and this is the process, if you make that offer then that's what they see at face value, you will differentiate yourself if you differentiate yourself by charging for the strategy session instead of giving it away for free and a lot of people work with The champions when they started making that offer to charge the client and said yes, that makes sense, we will pay for the information or what we need to do, very few submitted to paying for that session because it was part of the process. how we work this is what we do the first step is so it's okay if we do that first yeah right credit card so you might get a rejection.
I just talked to this other guy who will do that, it sounds like the same thing, but he'll do it for free and what you can say is, go ahead and try them for free or ask them the question. So if they are willing to do it for free, why are we talking? Why are we having an argument? Wouldn't you have gone with that guy? Wouldn't you have done that? Then something must have been missing. What was that missing? Because I'm sure in our process we have done this for Many clients that I know in our process we will probably feel that we fill that missing void, so if there is a rejection, you ask well, why if someone tells you I can get this more cheap or free?
Okay, but why didn't you choose it? If you know you can get one cheaper and free, why didn't you choose it? Then they will immediately tell you why they didn't do it, and now you know that you are not speaking, that you are no longer defending yourself. you're talking about what's valuable to them, well the first question is the group that's here that was founded to sell something for free, it's just as challenging to sell it for payment, these families really have to give away free shipping, Isn't it so interesting? Like I'm going to give you this, all this value, all these ideas for free and they say no, why do you think that value is free?
That's right, it has to be a line item on the bill, okay, one more question, I think we have time for One more question for anyone here, Evan swears because the higher you go, the more you can charge for it, to the point where that you go up enough to charge millions of dollars so it's both in the value that the client gets and the amount that you can charge because if you don't provide high value to the client then you can't charge much for it but if you provide a high value to the client, you can charge a lot for that, well, that was short, so come back here, okay, great question, rule number one of agencies, all clients abandon rule number one, you must understand that about the business, the business is not permanent there, hence the phrase for life.
The value of a client even exists because if you had them for a lifetime, forever, the moment they died is when they leave you as a client, but all clients leave, so you have to understand that I just had with my business partner and one of my companies, we just had our leadership call and we talked about this new product that we have and we're doing the math and we're putting a 20% turnaround into the math of our business. Let's not do it because we don't know yet that it's a completely new product, so we are incorporating it into the prices and our expense structure immediately as we do and if we find that our turns are much lower than what we can address, so it is .
Always think of it like we understand that all customers leave so we can reverse engineer that they're going to leave, but can we get them to leave on our terms correctly so this is the way I think we can do it ? We make the customer leave on our terms and not theirs because it makes a big difference in your company's morale because if you have customers abandoning you left and right, you and your entire team will feel like we are only human . true, it feels like a personal attack when they leave, so we started to build this into the business to get them to leave on our terms, so with my coaching clients I don't allow any coaching client to stay more than three years as If I haven't taken advantage of everything I can give you in three years, then I'm doing a terrible job and you should leave, but usually in that three-year period they've grown so much that they now need to.
Go use a bigger consulting firm, one that does things I can't do well, so if I'm doing my job well, they should leave. If I'm doing my job wrong, they should definitely leave right, so yeah, so that answers parts of it, but then why ask that question? Yeah, okay, so that's a different question than retention, but I have one of my videos that I have called happiness spikes and projects, projects are happiness spikes, so if you're generating recurring income, eventually they're going to want you. someone else do it for them, but if you are doing projects for them periodically and a good agency does it, they do projects, what happens after finishing a successful project, your clients.
I'm happy, so if you're providing a recurring revenue service, they can do very well and still want to try someone new, but if you always strive to solve your customer's problems so that once, twice, maybe even three times a year. you do a project for them and then you get those little spikes of happiness where they're like, man, you're doing such a good job for us at that moment, and when I say a project, it could just be a quarterly planning session. Do quarterly planning, we will organize the withdrawal of your company and you will pay me for that right.
I will organize it and we will strategize for three days and they can pay you for that it is a project there are all kinds of projects that you can do with your company for your clients there are a lot of them because what you are doing is transferring intellectual property your experience is property intellectual property find multiple ways To give them that intellectual property, find ways to do it well, so that you can retain a customer for much longer because you are always serving their needs correctly, but that is not a retention strategy, it is just what I called. grow account strategy you should always be analyzing how do I grow this account and the only way to do that is to serve your client better.
I think I'm done. I think I'm out of time, thanks.
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