Winter Buyers Want Experts—Here’s How to Be One

Hi Everyone, Carl Gould here your #70secondCEO, just over a minute of investment per day for a lifetime of results.

So, the internet has leveled the playing field in business, everybody has the same access to the customer and it’s for free. Think about this for a minute, everybody is a penguin and everybody is making noise. So, one thing to know, if you’re on social media and you aren’t saying anything significant, you aren’t adding to thought leadership you aren’t saying anything that is really relevant to your audience, you’re just making noise. Now it’s not a total waste of time for everybody if you’re just making noise, because you elevate those who are thought leaders. Your job is not to elevate the thought leaders, your job is to become a thought leader. Remember in the last video we talked about how in winter, purchasers defer to experts. Well, social media is a waste of time if you aren’t saying anything significant, however, if you are saying something significant, then all of a sudden you’re a journalist, you’re a thought leader, you’re somebody who is adding value to their clientele or to your audience. So remember, we need to:

• Differentiate

• Define your niche

• Define your clientele

What are the things that are on their mind most of the time? If you can answer these 2 questions, you can create all your social media around these 2 questions.

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Hi Everyone, Carl Gould here your #70secondCEO, just over a minute of investment per day for a lifetime of results.

So, if I steal, within your range of mismanagement, you won’t even look, or you would rarely question. Rarely question. Ok, so, we had a client who was a forensic accounting company and I remember talking to them and I said, so I said, when you get called in and there’s suspicion of fraud like, how often do you find it? And they said every time! And I’m like oh, I know, really like how often? He goes no, 100%, 100% if you suspect it, it’s happening. I’m not saying you're being stolen from, but we were like seriously? He’s like yeah, 100%? And we were like wow, wow! You know. So, the, again, if you look at that range, if you look at that range, look at that range, we want to close that gap in there, right?

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Hi Everyone, Carl Gould here your #70secondCEO, just over a minute of investment per day for a lifetime of results.

So, let me ask you a question. I’m going to give you 3 scenarios, tell me what you would do. First scenario, you give me, let’s imagine I worked for you, you give me $5000 expense budget, marketing, whatever. You gave me $5000 and then I went out and spent all $7500 of it! What would you say to me? What the hell? You would ask questions would you not? Maybe it was a worthwhile spend, but you’d want to know why I went over. So, if you gave me $5000 and I spent all $1000, what would you say to me? Nice job, right, I got $4000 for me or if you’re not going to use it I’m not going to give it to you next year, right? But you would ask questions would you not? You gave me $5000 and I spent $4950, what would you say to me? Nice try, you’d say well done! It gets better, you wouldn’t even look at the bill. Fair? Good job, you’ve got bigger problems you seem to be...go!

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Hi Everyone, Carl Gould here your #70secondCEO, just over a minute of investment per day for a lifetime of results.

You want me to ask about the cost of goods? Gross margin? Net margin, right? So, your percentage difference between the two is what we would call your range of mismanagement. In other words, in other words, if we go over that number you’ll take notice, your team way outperforms, or if your team way underperforms, you’ll take notice. That’ll wake you up, that’s your thermostat. That’s your management thermostat. If it goes too low the air conditioning kicks on, if it goes too high, sorry goes too low heat kicks on, goes too high air conditioning kicks on. You don’t, in between that number, right, in between that number, you don’t take notice. So, if you’re say 10%, take 10% of your revenue, that’s how much I can steal from you before you would even notice. And as long as I was stealing within that range you wouldn’t even know where to look.

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Hi Everyone, Carl Gould here your #70secondCEO, just over a minute of investment per day for a lifetime of results.

I do this thing, remember I said I could show you how much money I can steal from you? And you’d never know it, ok? So, without looking at any reports please, write down, year to date, as of close of business yesterday to the dollar, what is your collective revenue in your business as of yesterday, close of business? Write down the number no rounding up, no rounding down. Before I even, before you even attempt to pretend to know. How many people know? Exactly, write down the range of what you think it is. Ah, it’s between this and between this…..I think it’s like between 1.2 and 1.4, it’s eh 600 and 650 eh, I don’t know. 5.2 to 5. somewhere in there. Ok, what’s the difference percentage-wise between those two? 5%, 10%, 15%? 20? Alright, 10 is the most common answer by the way. Alright, I just asked you about sales.

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Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

Go on 10 appointments per month, for six months. What they've learned in this organization called the Institute for Independent Business, they had business mentors in 50 countries, so there are about almost 7,000 of them. What they learned was, if you go on 10 appointments per month, a lot of things happen. You get really good at your pitch, you really understand your ideal client, you understand what works and doesn't, you figure out how to close, you overcome the objections, you really hone your presentation. And so here's what he said, what’s that?

Trial by fire.

Trial by fire. And here's what he learned. Statistically, your chances of getting your client on the first 10 appointments is actually very low, very low. It's like under ten percent. Now doesn't mean that has to be your experience. You might walk out like I don’t know what happened to them, I got 8 out of 10. Good on you. Your probability of getting a client with your next 10 appointments on something that's new or something you change are actually very low. Your chances of not having a client- not having a client after 60 appointments is almost impossible. Meaning the probability of you having clients after 60 appointments is ridiculously high. The probability is ridiculously high one and a way.

It’s a count explore.

Pardon me?

It's a count explore.

It's a count explore, but you could I could, we could have a count explore 60 times and you could lose every time because why?

You figured it out basically.

Yeah.

Because you guys are too talented not to get it.

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Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

What happens in your career is, you know, when you're younger as a CEO or a founder, an entrepreneur, your risk tolerance tends to be higher.

You're willing to take more risks, you're willing to change more. You know, I say that CEOs fall in two categories. They fall in the category of, I wanna make a mark.

I wanna change the world. My product or service is amazing, I wanna do that. Or, I don't wanna screw it up.

I've had some success, I've got this good business. Maybe I inherited it, maybe I bought it, or maybe I bought out my partner. But however I got here, I've got this really good business.

I don't wanna screw it up, I don't want this to go bad because this is my annuity for the rest of my life. Maybe this is for the next generation. Maybe this is for, you know, my kids or whatever.

But I don't, you know, so I fall in one of these two buckets so early on, most of them are, I wanna make a mark, right? So they have a high risk tolerance. And so they're all over the place. But once you get to, I don't wanna screw it up, now you're in that place where you're not, you don't wanna change what you're doing as much.

You know, I don't understand this next generation, what is going on? You know, I hear that, I'm like, I don't care what you think, but they are the primary purchasing power and you sell to them now.

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Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

Business is simple, and it's elegantly simple, but it's not easy, right? Because of what you have to overcome, if you are in a service business, you are doing your service so your clients don't have to change their behavior, okay? What do I mean by that? I had a landscaping company, right? If you owned a building, I'd do a service of cutting the grass so you don't have to go out and do it.

You don't have to change your behavior and become a lawn cutter. I cut my grass so you can continue to be the building manager. However, if I'm in the product business, I build a product so you will change your behavior.

It's exactly what it's designed for. If I make this great TV with all this capability, you're going to have to use it as a monitor. You're going to change how you use the TV.

So in order for me to do that, I've gotta convince you that I either have the right service or I have the right product. And my product is so good, I want you to change your behavior. And my service is so good, you're never gonna have to change your behavior, right? The done for you part.

So that's the relentless, never-ending part of business, sales and marketing, where I have to message and convince you to either keep your behavior the same with my service or change your behavior with my product.

Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.