Carl-Gould-#70secondCEO-The Price Test: How to Know If Your Clients Will Pay More
Release Date: 04/18/2025
Carl Gould #70secondCEO
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one-minute investment every day for a lifetime of results. Your usefulness is over. Cause you gave them the price. Right? Now they can decide, am I going to go with the price? Am I not going to go with the price? Is the price worth it? Is it not? Right? And you guys, I'm sure you've heard it. Finish the sentence for me. Once the price has been handed to the prospect, the next person who speaks, what? Fill in the blank. Once you've told them the price, the next person that speaks, fill in the blank. What's the...
info_outlineCarl Gould #70secondCEO
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Perfect example. I have a Jeep, I got those aftermarket tires on, right? It says inflate the tires between 35 and 40 pounds. So I go into the place, and the guy says to me, I go into the oil change place, and he says, oh, your tires could use a little air. I'm like, all right, well, what pressure should I put them at? And he's like, well, if you put them at 35, they'll last longer, but 40, you'll get more performance. All right, well, you're the expert,...
info_outlineCarl Gould #70secondCEO
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. When you ask them what you would do, right? Test this, if you wanna test this out, next time you go out to dinner, ask the server, what should I get tonight? Oh, well, it depends. It depends on what you're in the mood for, and like, oh my God, I don't know. I just see my tip going away. If I answer wrong, well, what do you like here? Oh, I love the duck. Oh, I'd love this, I'd love that, I'd love this. I'd eat that a lot. Right, there you go, right? But...
info_outlineCarl Gould #70secondCEO
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Here's a question not to ask, here's a question to ask. Because that's like risk, I'm going to lose my job, if I get this wrong, you're going to blame me, right? Ask them, if it were you, what would you do? That's a totally different question. If that were you, what would you do? Because now I'm not asking them to give advice, I'm asking them to share an experience, or an opinion. An opinion doesn't carry risk; it's kind of the same thing, but they will...
info_outlineCarl Gould #70secondCEO
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. So our objective is we want them to solve problems independently with minimal input from you other than approval, minimal editing, and then an authorization to go forward with the proposed solution, right? Or if they can't solve it all the way, maybe the problem is way beyond their scope or there's information they're just not aware of or they don't have that budget authority or they just maybe they just noticed something that was wrong. You just want to advance...
info_outlineCarl Gould #70secondCEO
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. We want them to come to us with a variety of solutions, but in a structured way. Because you, as the manager, you wanna know how they arrived at that solution. So you can give the tweaks. So it's not just enough to say, hey there's a flat tire, I'm gonna replace the tire. Hold on, what got us here? What are the options, and what is your choice? So I can see parameters we're working on, all right? So just as a summary, you wanna, this is how I wrote it for...
info_outlineCarl Gould #70secondCEO
Hi Everyone, Carl Gould here, your #70secondCEO, just over a minute of investment per day for a lifetime of results. We’re talking about increasing your fees. Now wouldn’t that be nice? Just take your prices and charge more? And you’ll just make more money. Isn’t that great? Well, you know what, it’s actually necessary. We have been talking about not just being another penguin, about standing above, about being an expert, about differentiating yourself. Well guess what? People judge your quality based on your fees. Think about it, I asked you the question, what’s a better watch? A...
info_outlineCarl Gould #70secondCEO
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one-minute investment every day for a lifetime of results. Low performers, who complains about not being accountable. Low performers, you're getting it, right? Go to battle with those whom you could do that. All right, so now I'll give you some of the trends that I'm seeing. All right, so we do business and we've advised companies in 78 countries. One of the advantages of that is we see trends before they come here and we also, for our other than US clients outside the US, we see the trends here and we can run over there...
info_outlineCarl Gould #70secondCEO
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. So now business owners, I won't embarrass you by asking you to stand up if there's somebody in your business you would need to fire because you would all stand up, but you need to let that person go. Who you say no to on your team is equally as important to who you say yes to on your team. I would rather have a smaller team of high performers than a larger team that has mid or lower performers. High performers don't like low performers. Low performers don't like...
info_outlineCarl Gould #70secondCEO
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 when it comes to your communication...
info_outlineHi 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.