Carl-Gould-#70secondCEO-How Much Can a Business Raise Their Pricing Without Attrition
Release Date: 08/15/2024
Carl-Gould-#70secondCEO-Speak Their Style, Build Real Influence
Carl Gould #70secondCEO
Speak Their Style, Build Real Influence Hi everyone, Carl Gould here with your #70secondCEO. Just a little over one minute investment every day for a lifetime of results. Why do we care that we have rapport? Why do we care that we have influence? Well, first off, we need rapport because we need to build a relationship. I'm going to ask you a couple of questions in a moment, but we need to build a relationship with other people. And there are only three styles out there. You're one of them. There are two others. And for our purposes, you are basically wired like one-third of the population...
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Carl-Gould-70secondCEO-Are you committed
Carl Gould #70secondCEO
Are you committed? Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. And the bet was that if you win, I give you an additional $100,000, right? But if I win, I get your entire net worth, all of it. I get the car, I get the house, I get the 401k, all of it. It's all gone if I win. And all you have to do is bring in one more deal by the end of August. How many of you think you would probably do that? If all of that was on the line, how many of you think you would do that? I think most of you would, if not...
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Carl-Gould-70secondCEO-Minimize the Gatekeeper Maximize Access
Carl Gould #70secondCEO
Minimize the Gatekeeper, Maximize Access Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Between 7 and 9 a.m. The reason why I do that is that I minimize the gatekeepers that keeps me away from my prospects. I know at 7 a.m., business owner, decision makers, get their phone, it's arm's distance away, and they can't help themselves. They'll see that phone ring and they're like, Oh, my assistant isn't around. Someone has got to answer this phone. Ring number three, ring number four. Drives them crazy. Go to that...
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Carl-Gould-70secondCEO-Take an Honest Assessment
Carl Gould #70secondCEO
Take an Honest Assessment Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Too good at what you do to not have the lead flow that you need. You're too good at what you do. So I know darn well if you went to every trade show and if you were at every event and you were typing in every time I asked and you were going for it 100%, you'd have your leads, right? And so July is a great opportunity to say, all right, yeah, yeah, yep. I went to go see the 4th of July fireworks on the 2nd of July. Also, instead of doing...
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Carl-Gould-70secondCEO-Commitment Over Convenience
Carl Gould #70secondCEO
Commitment Over Convenience Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Are you in the committed mode? Are you in the convenient mode? And here's what we find out almost 100% of the time. You're not getting the results you want, you probably fell into the convenient mode. And I understand. I live in a shore state, New Jersey. We have a beach, backs right up to the Atlantic Ocean. And guess where everybody is from now until Labor Day? There. Guess where they're not? At networking events, schlepping...
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Carl-Gould-70secondCEO-Referral Party
Carl Gould #70secondCEO
Referral Party Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one-minute investment every day for a lifetime of results. Now I'm trying to make it sound fun, like, yay, referral party, but we also call it a one-to-one house call. It's a meeting with somebody where you sit down and you say to them, Here's what's going on in my world. And here's what a good introduction looks like for me. Tell me what's going on in your world and what a good introduction makes for you. And we don't get off the phone until we make at least one introduction for each other. You do...
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Carl-Gould-70secondCEO-Talk to 24 PeopleGet One Referral pt.2
Carl Gould #70secondCEO
Talk to 24 People—Get One Referral pt.2 Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. I don't know where the universe or the volcanic activity that regulates this is, but when I have 12, I get no leads. When I have 36 or 48, leads, the quality of them goes down. Somewhere in that bubble of 24, and here's what I think, I think it's because I stay in touch with them, their frequent dinner or networking people, I see them on a regular basis, we tend to talk a lot, we tend to have deep conversations, something...
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Carl-Gould-70secondCEO-Talk to 24 PeopleGet One Referral
Carl Gould #70secondCEO
Talk to 24 People—Get One Referral Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. What can we bring in? What are other activities? So if you look at the second one right there, one of the things that I like to have is I like to have I found over the years, I don't know what the magic science is behind it. I don't know how the planets rotate to make this work. After 35 years as an advisor and 40 years as an entrepreneur total, what I found is if I maintain a good stable of 24 people that will refer me...
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Carl-Gould-70secondCEO-Bottom of the Funnel
Carl Gould #70secondCEO
Bottom of the Funnel Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Things that I've noticed is bottom of that funnel results tend to match the top of the funnel activities. In other words, if you're 10% ahead of your goal and you look to your top of the funnel activities, you might say, Oh yeah, you know what, I do. I've got, I've been to 10% more networking events than I normally do. I've had 10% more one-on-ones. I've had 10% more, I went to that extra trade show I don't normally go to, or I stayed...
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Carl-Gould-70secondCEO-Sometimes You Get Lucky
Carl Gould #70secondCEO
Sometimes You Get Lucky Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. In sales, yes, there are times when you get the lucky, you get the lucky one, right? We have a franchisee who thought they were calling our competitor. And they said, Oh, I remember the three calls we had, they were so good. Meanwhile, I'm going through my records, I'm like, does anyone have a record of this person? What did we miss? We didn't find out till later that they actually were talking to the competition. They...
info_outlineHow Much Can a Business Raise Their Pricing Without Attrition
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one-minute investment every day for a lifetime of results. I'm going to ask you a question.
You tell me in the answer of a number, think of a number for a moment based on my question. My question to you is if you were to go out to your clientele right now and set aside the ones that you already have contracts with that where the pricing is already fixed. But if you basically went out to your clients and your prospects and you raised your pricing 1%, just 1%, what percentage of your clients would abandon you? They would leave. You were at a hundred dollars. You're now at one Oh one. You were at 3%.
Now you're 3.03%. What percentage of attrition would you experience? Do you think? Okay. Zero. So 3%. If you raise your prices 3%, what level of attrition would you experience then? Zero. Okay. 5%. Right. 5%. How about 5%? Would some of you start to get attrition at 5%? Yeah, probably. Right. So maybe you're from one to four Let's just call it that.
If there was any number where you felt you could raise your pricing and you would have close to if not zero attrition, that's a signal from your clientele that they love you for something more than just the utility of your product or service. They like you for some other reason. You're a professional.
You're based in the U S you're a local company. You're, you know, the same faith as them. You believe in the same charity. I don't know. Whatever it is. You're just nice on the phone. Whatever. You write good emails. Whatever it is. Okay. But for whatever that is, they love you and are willing to pay you more than you're charging them.
Like and follow this podcast so you can learn more. My name is Carl Gould, and this has been your #70secondCEO.