Ein Angebot, dem niemand widerstehen kann

0:00How do you make your offer unbeatable then? [laughter] >> Um >> where it's unfair. >> Yeah. If people feel stupid saying no. Um there's there's four elements of value as I've kind of defined in the book, the $100 million uh offers book. So you have the dream outcome, right? Which is like what is what am I actually going to give this person? Every product is a dream outcome. Every service has a dream outcome, which is like what's the thing that they want to have happen? Okay, cool. So that's going to be our baseline in terms of value. Like if I'm going to help somebody make an extra million dollar a year or $10 million a year, that's going to be a baseline, but there's still going to be a discount that's applied to that. And there's basically three factors that apply to that discount. Number one is how fast is it going to happen. Number two is how much effort is it going to take on behalf of the customer? And then number three is how likely is it to occur? And so fundamentally, those are the elements of value that are either multipliers or detractors of what you can ultimately charge a customer for whatever it is that you sell. So how do I make it fast?

0:48How to make it easy? And how do I make it risk- free? And so with each of those components, like part of the way of making it risk-f free to them is if I have 10,000 other people I've done this for, it's much less risky, right? That's proof, right? You could also do that with covenants and terms. You could either do it based on performance that shifts more the risk to you. You could also just give guarantees and satisfaction. You get guarantees that are conditional based on things that they do. Those are all elements of things you can do to decrease risk, which you can uh reverse into price. And so said differently, I could say, "Hey, um, I'll charge you $5,000 to do this thing." And if someone says, "Uh, well, no." Oh, it's like, okay, well, I'll do it for $3,000, but I won't give you a satisfaction guarantee. And then what you'll find happen is they're like, oh, well, I'll do it for $5,000 with the guarantee. So, people resell themselves on a higher price if you take away a component that's valuable. So, that's that's the risk one. From a speed perspective, I would say that the more I've studied like human behavior, sales, persuasion, marketing, the more I really lean into speed. Like, if you want to enter any new marketplace, just look at what everyone else is doing and see if you can do it in half the time. And there's just so much value in speed.

1:50Like humans are so immediate reward focused. Like almost every business can offer a speed version. So it's like you're a YouTube thumbnail agency and you say, "Cool, I'll get you thumbnails in a week normally." It's like, "Oh, if you want for 50% more, I'll get them to you in 24 hours and for and for 300% I'll get them to you in the next 60 minutes." The same cost to you. It's the same work. >> But you just give someone priority access and it's all margin. >> So it's like you can always play with speed as another variable of value. And then the uh the third element has two pieces to it which is ease. Like how does it have two elements? Well, one is what are the bad things that I I hate doing that I get to not do as a result of buying, right? All the stuff I don't like, you're going to take away. Great.

2:29But I also want to make sure that I don't prevent someone from doing the things they do enjoy doing, right? And so I give a classic example of like if you sign up at a gym, uh all of a sudden you have to start doing things you don't want to do, but you also have to stop drinking margaritas. You have to stop taco Tuesday. You have to stop having cupcakes and stop having your McFlurryries. So, it's like you have to give up stuff you like and you have to do stuff you hate, which is why it's such a hard sale. >> So, do you study psychology in order to be a more effective salesperson?

2:53>> I wouldn't say I study psychology. Um, I would say I just look at data of business because I the the the one advantage that I have is I have a a huge amount of data that I sit on top of between the companies that we invest in, the companies that uh come use our services on the advisory division um and the companies that well companies we own, the companies we invest in. And so, it's like I get to see a lot of different data. And so when we make changes into a sales process or a change in terms of an offer, um, I could see the improvements in conversion rates.

3:21And so, uh, that's where a lot of my like thesis have come from. >> Are you ever surprised by the data or is most of it kind of just confirming your intuition? >> All the time. I get surprised all the time. >> What's been like one of the biggest surprises about this data? Yeah, we had a we had a company um that uh sells B2B services and I had this guess that um based on uh basically we could collect the data of the size of the revenue of the companies that were basically leads that were coming in the funnel. And so I wanted to shut off the bottom third of the leads cuz they were the lowest revenue leads and just have the team focus on the top two/3s. And so I was like, "Hey, just pull pull the sales data cuz I'm going to bet that all the conversions happen on the top end." and the conversion rate was actually evenly spread. And so, um, I was like, "Huh, like almost to the percentage point." I was like, "That is not what I would have expected." And again, that could be unique to that specific business. I would still posit that in general, more qualified customers buy on average more and spend more money. Just in this particular business, and maybe that means that that business is mispriced, which would be a different problem. But given that data, I was like, "Huh, that's interesting. We have people who are 10 times the size buying at the same rate as people who are onetenth the size." Wild. And it's way more of a stretch for these people than it is for these people. So maybe we're missing our message.

4:33>> Did you ever find out why? Have you dug into that and gotten to the bottom? >> I It's It's a great question because like I I try It's really hard to say why because like I think a lot of people like to use because because it's very compelling. Um but I just try and stick with like this is the data that I have within this given context and in this situation it worked. And I know there are principles like things that are fast will sell better than things that are slow. Things that are easy will sell better than things that are hard. Things that are risk-f free will sell better than things that are not risky. Like I can take that to the bank. So like I try and think like what are the few principles that will always uh be true and then the rest is application. Real quick I'm going to show you the exact 10stage road map from zero to 100 million plus that less than 1% of companies finish I've now done multiple times. And so I can say with a lot of confidence that these are the stages as headcount increases that you need to get through. And I broke each of these down by eight different functions of the business. what the constraint feels like, like what are the symptoms of it when you're going through it, and then what steps we actually took to graduate.

5:32And we've done this across software, physical products, uh, service businesses, brick-andmortar, all of this, and it works. And it's my gift to you. It's absolutely free. And so the link's in the description, but you just go acquisition.comroadmap. Just enter your info and it'll spit it right back to you. Offering.