This week I attended the “Expert Empires” conference in London with headliners Ryan Deiss and Grant Cardone.
Grant Cardone is your traditional hard hitting, no nonsense salesperson. He is in it for the deal. Everything he says is to influence and manipulate you in order to get a sale. Everything he looks at, he is calculating the profit of the deal. He talks about things that we seem too reserved to discuss.
Grant Cardone is about Making Money and Making your Money work harder
There is really nothing wrong with this. After the greed of the 1980’s, we seem to have swung too far the other way. Business put so much effort into taking your money without making a deal of it. It is time we were more upfront about what we charge our customers for.
Grant Cardone’s claim that you should 10x your business was apt. The conference is aimed at speakers, coaches and trainers. Other speakers were talking about;
- Moving from one-on-one training to one-to-many.
- How to fill a room with dozens, even hundreds and sell to all of them at once.
- How to make more use of the internet and social media in order to bring in more contacts and more sales.
- How to build a sales funnel to move people from not interested to happy buyers
In that context, the idea you could charge 10times more or deliver to 10x the people was already proved.
In over 30 years of working business owners and customers, there are certain facts that are proved over and over again.
- Whatever product or service you provide, you will often find you can double prices for repeat business and keep almost all your customers. Why? – because most customers undervalue your services, and it is only after working with you for a while that they appreciate your work. – This, of course, is a failure by you, not them.
- If you have a product or service that you have sold to many people….10-20% of those people would have been happier paying 10times the price for a more personal service. That often means they will pay ‘x’ for a product that performs ‘Y’, but they will pay 10 times the price if you do the ‘Y’ for them. If the numbers are big enough there could be 10% who would pay 10times more again!
- People will often pay the same, or even more, to learn something in a small group of people, rather than one-on-one. The benefit of a shared group experience can be worth more than one on one. And you can 10x your profits for the time.