3 Key Points in this Episode:
- Be consistent and creatively solve your ideal customer’s problems.
- Build trust and have a professional image.
- Close each sale with “no pressure” using the Valve Stem Sales Strategy.
An Interesting Interview with a Great Entrepreneur (1:53)
Corey Philip is a home service industry entrepreneur and the founder of HomeProSuccess.com — an online resource focused on the growth and marketing of businesses in the trades. He has successfully used his “no pressure” approach to sales to generate an 8-figure business.
Find Your Blueprint (2:29)
First, creatively solve your ideal customer’s problems and be consistent. Second, create a professional brand image that makes people have confidence in your business.
Remove Your Barriers (7:15)
Corey was 22 when he started his company and he had an issue of trust because of his youth.
Fully Express Your Greatness (13:54)
Like most entrepreneurs, Corey struggled to celebrate moments of greatness, but after being in business for a couple of years Corey realized that they could step back and let their employees handle the work. Now a few years after systemizing the business and delegating all the tasks Corey and his business partner are going to take some extended trips and work remotely.
Advice for Your Younger Self (18:03)
“Focus on getting the right people onboard early on.”
Teaching Moment (21:06)
The Valve Stem Sales Strategy takes all the pressure out of the close. By taking customers on a visual journey through past customers experiences they build trust with the customer and it removes the pressure.
Step 1 – Introduce yourself
Step 2 – Do you know anyone who has done business with us before?
YES – Great then you already know about some of the things that makes us different.
NO – That’s okay, in the next few minutes you are going to learn about many of the things that makes us different.
Step 3 – Ask lots of questions to uncover the customers needs and pain points.
Step 4 – Drop the approximate price which elicits an objection.
Step 5 – Respond with trust building stories about past customers experiences and show them a slideshow of past jobs and as each picture passes you tell them the story about that specific project.
Step 6 – Tell the company story by showing pictures of employees, equipment, and even insurance certificates.
Step 7 – “Should we get this written up?” is the closing question that they use.
How to Make More Money (29:37)
In this week’s Make More Money segment I want to teach you how to create a system in your business.
First, I want you to document your current sales process where you ask your customer to make a buying decision.
Next, I want you to develop your own version of the “Valve Stem Sales Strategy” and try it with at least 5 customers. Note the results.
Then I want you to go back to your previous approach and try it with 5 other customers. Note the results.
In the digital marketing world, this is called an A/B test or split test. After comparing the results, I want you to pick the most effective of the two and I want you to innovate (or change) one phrase. Test that with 5 customers. Note the results. If the results increase keep going, if they decrease try a variation.
The point is this, you are creating and innovating a system and you will begin to understand what resonates and works best with your customers.
Once you reach close rates of more than 80% stick with the system and replicate those results thousands of times. This can lead you to be an 8-figure yourself.
Family First (30:54)
High-pressure tactics are used in the family all the time.
I’ve seen family members use emotional manipulation to pressure a family member to do something they may not want to do.
Sadly, I have succumbed to using high-pressure tactics like asking for an answer immediately when my wife needs time to think. I don’t do this on purpose, but I am assertive and sometimes it gets away from me.
For me, I am going to be more mindful of this and do my best to never use high pressure tactics again and I encourage you to do the same. An honest self-evaluation and open communication with our mates, children, and extended family should reveal if you need to work on this.
As in the case of Corey and his 8-figure business, I think we will be surprised at the great results we can achieve in the family without using any high-pressure tactics at all.
This episode sponsored by:
Every business needs a website and I have used Gerrit and Trackstar Web Design since 2012 and so should you.
If you are hiring a new employee, I highly recommend that you use the Screen2Fit recruitment platform by Pro.File.
I use Process Street to create systems in my business and I highly recommend that you use Process Street as well.
The Blueprint of a Great Business by Jamie Irvine
If you enjoyed this interview, then you will love my new book The Blueprint of a Great Business! This book is for self-employed people with service-based businesses that want to provide for their families and create freedom and flexibility in their lives.