Consulting Tycoon

What can you do for me?

Kyle — Wed, 16 May 2012 22:52:18 +0000

Great question popped up after yesterday's email:

"I understand the difference between features, advantages, and benefits but I'm really struggling with what to say when someone asks 'so what can you do for me?'. It doesn't matter what I say or how I position the benefits I can't seem to get them interested."

Now, I've already answered the basic question of what you need to talk about to get prospects interested in Why Benefits Are Killing Your Sales.

(The short version is you need to stop talking about what you've got and ask them what they want.)

But the real lesson is this:

You don't have to answer questions.

Seriously, let me say that again...

You don't have to answer questions.

If you don't have an answer... if you don't want to answer... if it's not beneficial for you to answer right now... if there's information you need to get before answering... or if it's the wrong question...

You don't have to answer!

Just ask a question right back and they will follow your lead.

The person with the strongest frame wins.

Talk soon
Kyle

P.S. All the questions YOU should be asking are in the New Client Script sales process you get in Consulting Tycoon.

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Stoopid prospect questions

Kyle — Tue, 15 May 2012 04:42:11 +0000

Today I wanna chat about the stoopid questions your prospects ask.

And why YOU answering them is costing you MUCHO moolah.

Ever got a phone call or email from a prospective client and one of the first questions they ask is something like:

"How much do you charge for a website?"

"Can you give me a quote for a salesletter?"

"I just need a price."

Let me ask you -- how did you answer?

Because the way you answer these questions has a massive impact on both your chances of landing the client, and the amount of moolah you're able to get.

So... what's your strategy? Do you:

a) Give your lowest price to try and undercut any potential competition.

b) Quote high and try to position yourself as the premium option.

c) Just give them your "rack" rate and let the chips fall where they may.

d) Give them a range of prices covering your various packages.

Clock's ticking. The prospect is waiting for your answer...

... these next few moments determine your fate...

What will it be?

I'm sure you've heard the saying "there are no stoopid questions, only stoopid people".

Funny line.

And like most funny things, there's an element of truth to it.

Because a question itself cannot be stoopid.

Only context makes it so.

And in my experience, 95% of the time when a prospect's first question is based around price it's because they're stoopid.

Not dumb. Silly. Or cuckoo.

They just don't know the questions they SHOULD be asking -- they're not aware of their real criteria, haven't thought about the objectives for the project, aren't sure how to value what you do.

So they fall back on the universal measuring stick... price.

And if you answer with a price, you're dead in the water.

Now, back to my original question. Got your answer?

A. B. C. or D.

Here's how we do it:

e) Don't give a price. Instead, find out what they need. Set the buying criteria for them. Build value for what you do. Take the trusted advisor position and put yourself in a category of one.

That is how you get the big bucks.

And these are the kind of ninja moolah-making skills you'll pick up as a member of Consulting Tycoon.

Talk soon
Kyle

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The Curse of Intelligence

Kyle — Wed, 09 May 2012 11:30:04 +0000

It's 11:31pm here in Sydney as I sit down to write to you today.

Just got back from ice hockey training -- Legs burning. Lungs on fire. A weird pain in my back that I'm sure will plague me later in life.

Man it feels good to be alive!

Anyway, it's a 25 minute drive home from the rink which gives me plenty of time to think. And I've been thinking about you.

Specifically a question/objection a few of you have raised:

"Kyle, one thing that stops me from taking action in the
consulting arena is the thought that experienced people
like yourself and your students have already staked the
hottest niches and dominate the keywords in those markets.
How can a newbie such as myself compete?"

Not a bad question.

But it's flawed.

Why?

Because it's based on a thought. Not research. Not hard data. Not "I spoke with 5 business owners in the XYZ market and found it's too competitive".

And thoughts are funny things.

Funny in that they like to play games with you. Like to test you. Keep you safe. Not let you get too far outside your comfort zone, lest you make a mistake and get kicked off the island.

And they'll kill your chances of success if you let them.

I call it the curse of intelligence.

See, smart people can always come up with a reason why something won't work. Why it's a bad idea. Questions, objections, and perfectly logical-sounding arguments that stop them taking action.

All the while others are taking action.

Too "simple" to realise why it won't work.

But, almost like magic, it does work.

(Ever thought to yourself "why are all these idiots making money and I'm broke"? This is one of the reasons!)

What I have found is 90% of people are too smart for their own good. And they come up with these same objections. Then never take action. So the number of real players in any one market is generally much smaller than you might think.

And when you factor in all the different marketing strategies available to you... USPs you could adopt... and sheer size of most markets...

There is often very little crossover!

The fact is most niches are still WIDE open.

A quick Google search of any major market will confirm this.

Or chat with some business owners in the niches you want to explore and get their insider viewpoint.

Many of our students find their biggest "competitors" are the offshore email spammers offering SEO services. And with the tools we have at our disposal they're simply not an issue.

Even the markets that have been "claimed" -- well, there's usually only one or two players doing anything significant.

(In one of the niches I'm in we currently sell to about 0.02% of the market. And the business is a smash hit. The market could support three more like us no problem.)

There's plenty of clients, rankings, PPC positions and profits to go around.

You've just got get out of your own way and go get them.

In the words of Dan Wieden - Just Do It!

Yesterday I mentioned something I've been working on that will help you "get it done".

It's almost ready for prime time.

If these last few emails have resonated with you then you should take a peek. It covers everything I know about how to get this "inner game" stuff sorted.

More tomorrow.

Talk soon
Kyle

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The Opportunity Roundabout

Kyle — Tue, 08 May 2012 00:47:27 +0000

Today I want to talk about what I call The Opportunity Roundabout...

When I was a young kid I played a lot of sport.

Tennis, cricket, soccer, swimming, football, BMX, inline skating, Taekwondo...

You name it I probably played it.

At least for one season.

See, like a lot of entrepreneurially-minded people, I get excited by new things. By possibility. The potential of what could be.

I'd get pumped up buying all the new gear. (Thanks mum!) Start watching the sport on TV. Subscribing to all the magazines. Talking with all my friends about it.

Really getting into it.

But soon reality would kick in -- and I'd realise I wasn't one of the "naturally" talented kids -- that it would take years of blood, sweat, and tears to become excellent at this particular sport...

... well, all the sudden the other opportunities start looking a lot brighter...

"I bet I'd make a great football player..."

And the cycle starts again.

(Not surprising, I never turned pro at any of those sports.)

I see a lot of people doing this in the business world too.

They see an opportunity and dive in with both feet...

You buy the product and rip your way through it.

You begin to get excited.

Finally, THIS is what you've been looking for.

Everything starts to make sense.

You start to picture what the future is going to be like.

New house. New car. Easy lifestyle.

This time it'll be different.

And then reality sets in...

A problem comes up. Question goes unanswered. Doubt.

Maybe life gets in the way. A new baby. New job. Marriage. Divorce. Moving house. There's always something.

Or a faster, easier, simpler, shinier, newer, "sure thing" opportunity grabs your attention.

And then you're off to the races on that one.

Before you know it six months has passed and you still haven't made any money.

Then soon enough you find yourself back at the original opportunity you were looking at. Only this time you're a little older, a little poorer, and a little further behind.

If you're lucky you catch yourself in this pattern and break out of it before it's too late.

Many people don't.

(I once met a guy who'd been repeating this pattern for over 10 years. Never made a dime online. Still buying opportunities.)

Here's the big secret:

All the opportunities work. (If you work them.) They all have pros and cons. There is always someone further ahead of you. Bigger, stronger, faster, more experience.

And the grass is ALWAYS greener.

But guess what?

That will never change!

So choose one. Make the decision to stick with it until you are successful. No excuses. Because otherwise in six months you're going to end up in the same place you are now.

Talk soon

Kyle

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Why Benefits Are Killing Your Sales

Kyle — Thu, 03 May 2012 21:04:33 +0000

Chatting with one of my Inner Circle members yesterday.

She asked a simple question:

"Kyle, what are the top three benefits to use when selling SEO to local business owners?"

And it sent me off on a bit of a rant.

Let me explain:

If you've been around marketing for more than a few days you've already been indoctrinated in the "benefits" cult.

You know what I'm talking 'bout:

Show them "what's in it for me".

Tell 'em what it can do for them.

Sell the sizzle.

Etc.

Look, benefits certainly have their place...

But when it comes to consulting and selling high priced products and services, talking about the benefits of what you can do for a client will kill your chances of getting the gig faster than a slap in the face.

"Why's that Kyle?" I hear you ask...

Because when you're selling one-to-one you can ASK them what they want. You don't have to guess at the benefits they might want.

You simply ask and then talk about that.

See, rattling on about all the benefits of your product or service is necessary in a salesletter where you don't know which benefit is the one that will convert any particular prospect.

So you've gotta pile them on and hope for the best.

That's why conversion rates of 1-3% are considered good.

But when face to face (or phone-to-phone) with someone you can ask them specifically, exactly and precisely what problems they want to solve... what goals they have... what will make them buy right now.

And with the right questions can get a LOT more info on why.

Why they want what they want.

The deeper stuff that's unique to each prospect.

We call this their criteria.

And it works like gangbusters.

It's how we convert up to 80% of our prospects into clients.

There's a whole section on how to elicit your prospects criteria and get them to move directly into your highest priced products and services in Consulting Tycoon.

Talk soon
Kyle

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Local Or Foreign Clients?

Kyle — Mon, 30 Apr 2012 23:07:41 +0000

Last night we ran our regular monthly Q & A session for Consulting Tycoon members.

I spent just over an hour answering questions such as:

How to niche your business for maximum impact...

How (and when) to follow up with prospects...

What's working now to generate leads and get clients...

... Plus heaps more.

One question that comes up a lot is some variation of this:

QUESTION: Do you target local clients (Australia) or do you look at US based small businesses? I'm from Adelaide and wondering whether to target Melb, Sydney or go USA?

KYLE: Seems the "local" part of "local business marketing" trips quite a few people up.

And I get why people ask this.

But it's usually the wrong question to be asking.

The right question is:

"Where can I find people that fit my ideal client profile... the 'players' in my niche who are spending money on marketing, have high value clients, and want better results?"

The answer to that question will tell you where to target.

See, you need to figure out what you want to catch before you choose where to fish.

Having said that, if you can find your ideal prospects in your own backyard then it's usually simpler to start locally.

Why?

Because you're on the same time zone, speak the same language, use the same currency, know the customs and intricacies of the natives, and can get "hands on" if need be.

But if you can find your ideal prospects outside your backyard as well then there are few good (if any) reasons to limit yourself to one geographical location.

Fish where the fish are wherever they are!

If you need a hand figuring out who your target market really is and where you should be fishing, then head on over to Consulting Tycoon today and get signed up.

It's the fastest way I know to get started on the right foot.

Talk soon
Kyle

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First Win Of The Season

Kyle — Mon, 30 Apr 2012 04:22:20 +0000

Got a great business building lesson for you today.

After a 5-year hiatus to focus on building my business I recently started playing ice hockey again.

(Yes, we have ice in Australia. Yes, we play ice hockey.
Though frankly even most Aussies are surprised at this!)

Anyway, last night on our road trip to Newcastle -- the 5th game of the season -- we finally got our first win for the year... taking down the 2nd ranked team in the comp 6-3 on their home ice.

Funny thing was we were missing a few guys from the lineup... didn't have our coach... and over the course of the game had three of our players tossed out.

At one stage we had ONE player on the bench.

Normally you'd have TEN!

(If you're not familiar with ice hockey our "shifts" are normally about 60 seconds in length. You work hard for a minute then get a line change and a fresh bunch of players come out. My longest shift last night was over 5 minutes!)

So what changed?

How did we pull out a win under such circumstances?

Actually it all started before the game...

See, other weeks we had focused on tactical things to work on -- breaking out of our zone, dumping and chasing, getting a forecheck going...

... all good things and all things we should get better at.

But this week we decided to keep it simple.

The only thing we focused on was this:

"Score goals and stop them from scoring goals"

Sounds obvious. Logical. Too simple.

But it worked.

Almost like magic all the other stuff happened automatically when we focused on the only things that mattered.

What does this have to do with building your business?

Keep it simple and focus on what matters!

"Generate leads and get clients."

Everything else is "good" and "right" and you probably need to work on.

But it's not what will give you the first win of the season.

Talk soon
Kyle

P.S. If you're looking to get a winning record in your business then you'll want to be at our Client Attraction Bootcamp coming up soon:

http://www.ConsultingTycoonBootcamp.com

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The Minimalist Guide To Offline Business Marketing

Kyle — Mon, 09 Apr 2012 05:54:46 +0000

In my last post I talked about the idea of a minimum viable product for someone just starting out with offline business marketing.

And in our coaching program one of the main things we work on is simplifying your business -- figuring out the fastest path to get started, get clients, and get cash.

Fact is, most people who fail in offline business marketing do so because they're trying to do too much -- they're offering websites, SEO, PPC, social media, Google Places and mobile marketing... trying to build their own website while attending networking meetings, doing video reviews and sending a direct mail campaign... attempting to sell products and services online, in person, via the phone...

... hustling any way you can in the hopes something will work.

The problem of course is all this complexity means you never get really good at anything. You never execute at the highest level. (If you even take action after all that planning.) You become yet another "me too" marketer offering the same things to the same people in the same way.

So if you're struggling to get your consulting business up and running then it's time to simplify!

Here's just what the doctor ordered...

The Minimalist Guide To Offline Business Marketing

When you break it down there are really only four components you need to get started:

Starving Crowd
An Offer
Lead Generation
Lead Conversion

In other words, you need someone to sell to, something to sell, a strategy to get in front of them, and a way to sell it. One of each. Not 20 different services catering to every niche market. Not 13 different lead generation strategies. One.

Quality of execution is more important than quantity of tactics.

1. Starving Crowd

Before even thinking about what you're going to offer you need to figure out who is going to buy it and how you're going to sell it.

Are you targeting a particular niche market? Location? Type of business? Size of business? A particular problem?

Where's the gap in the marketplace? What problems can you solve? Who has money and wants to spend it to solve those problems?

Start here and work backwards -- because who you target determines what you offer and how it should be presented, priced, positioned, and sold.

2. An Offer

This is where I see people making the mistake that causes the most procrastination and delays you getting critical cash flow.

They think they need a full range of service options right from day one to provide potential clients. Otherwise they'll lose out on business or simply not provide enough value to the client.

Before you know it the idea of a nice simple local consulting business is dead and buried as you're neck-deep in figuring out how to provide (or where to outsource) web development, graphic design, SEO, PPC and Google Places services... and you don't even want to think about how to sell each of these things.

When you try being everything to everyone...

Instead do this:

Pick one service offering. Could be websites, SEO, Google Places, mobile marketing, whatever. The "thing" doesn't matter. Choose the one that's the best combination of a) provides value, b) wanted by your market, c) you can systematize & outsource delivery, d) you feel most confident selling.

Then just get out there and sell it!

Now that you've simplified your business by a factor of 5x or more you'll notice a few interesting things begin to happen. You'll feel yourself becoming much clearer on who your ideal clients are. (If you still think it's "local businesses" then you need to go deeper.) Prospects start to see you stand for something... that you specialize in something... you're not promising anything to get some work but have a specific solution that solves a specific problem. Selling becomes simple.

And the funny thing is you will still have the opportunity to take on all those "other" projects, if you want to. Because once you have positioned yourself as the trusted adviser and advocate for your client you're able to lead the relationship. But it all starts with simplifying the front end of your business to get the client in the first place.

3. Lead Generation

Often half the battle here is just knowing where to start.

Where can you find your prospects? What's the best way to get their attention? How should you approach them? What do you say to get them interested in you and your services?

The good news is once you know specifically who you're selling to and what you're selling then generating leads becomes a lot simpler. If you're offering everything to everyone then there's no obvious place to begin. But if you're offering "website conversion optimization for Adwords advertisers in the fitness niche" then suddenly things become much clearer.

(In fact many of our students have found once you get this specific with your targeting you need to do little more than announce your existence to your prospects and you have their attention. You still gotta work to get them as a client, but it sure makes things easier.)

The key is to pick one lead generation strategy and go deep with it. Identify your targets. Choose your strategy. (We've had great results with direct mail, video reviews, networking, banner ads and more.) Offer a simple low-cost, low-risk means of response that lets them say "I'm interested, tell me more..."

One well executed lead generation strategy like this is worth 100 shotgun attempts at getting clients.

4. Lead Conversion

Finally you have a list of qualified leads who have raised their hand to show interest in the problems you can solve. Depending on the campaign you may have anywhere from 2 to 200 people at this stage. Don't be discouraged by the numbers. This small list is more valuable than the entire 12,000 record list you scraped from the YP

The next step is to convert them into clients.

This could be as simple as following up with a phone call and conducting a consultation.

Or sending them to a salesletter on your website.

Or heading to a coffee shop for a chat.

Again the "what" isn't all that important. All these strategies work. It's the execution that matters.

Pick one lead conversion strategy and get good at it... make it work for you.

What To Do Now

Build a simple system like this.

Four components. One strategy for each.

Go out and get your first paying clients!

Then use build, measure, learn loops to refine your process and improve results.

Over time you'll want to have multiple products & services you can offer. Generate leads a dozen ways. Create a multi-step, multi-media followup campaign. Use multiple entry points into your business. And have qualification steps, surveys and other hoops to dig for the gold.

But right now speed of implementation is better than perfection.

Get one simple system that makes you money up and running.

Rinse and repeat.

Minimum Viable Product For Fast Cash Flow

Kyle — Mon, 12 Mar 2012 01:10:19 +0000

Speed of implementation is one of the most important skills an entrepreneur can develop.

Watch this short video to see how to develop your minimum viable product to quickly launch your business or product and get critical cash flow fast:

Watch the first Wealthification business training video here.

How To Get Started In Offline Business Consulting

Kyle — Tue, 06 Mar 2012 07:05:39 +0000

Here's another snippet from my FWF3 presentation - how to get started in offline business consulting by starting with the end in mind and setting your 90-day profit targets:

Consulting Tycoon

What can you do for me?

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Stoopid prospect questions

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The Curse of Intelligence

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The Opportunity Roundabout

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Why Benefits Are Killing Your Sales

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Local Or Foreign Clients?

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First Win Of The Season

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The Minimalist Guide To Offline Business Marketing

The Minimalist Guide To Offline Business Marketing

1. Starving Crowd

2. An Offer

3. Lead Generation

4. Lead Conversion

What To Do Now

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