Archive for November, 2017

Sales Pitch in an Elevator

| November 12th, 2017

I heard the craziest thing on an elevator the other day and I thought of you Here’s the story: I stepped onto an elevator at the airport and three people followed behind me — a young woman and two young men The door closed and the woman turned to her friends and asked, “Do you know where my parents are right now?” The guys shook their heads “They’re at a burial service for my grandfather’s friend who died at Pearl Harbor

They just found the body, and they’re going to pay their respects to good ol’ Uncle Mike” One floor later, the doors opened and the trio stepped off, leaving me alone in the elevator…………… I admit, I almost jumped out after them but the heavy steel doors slammed shut; mocking both my curiosity and hesitation Now you’ve probably heard the debate — For decades, sales and marketing experts have been trying to solve the “elevator pitch” conundrum: how to deliver enough information and create enough intrigue that if all you had was a one-floor elevator journey with a prospect, they would want to learn more Certainly, these travelers weren’t trying to sell anything–but that’s exactly the point

Their elevator pitch wasn’t a pitch at all–it was a story Which made me think – that’s probably what ALL pitches should be… If you’ve ever struggled with the dreaded elevator pitch, here are three simple steps to help FIRST, – the story needs a sense of wonder, intrigue, or mystery…World War II, Pearl Harbor, and finding the remains of a forgotten soldier decades later is heavy on intrigue…

Your pitch can tap into this same element of disbelief and intrigue Did you stumble upon a solution you couldn’t believe actually existed and built a company? Tell that story Did you or someone you know encounter a problem you couldn’t believe didn’t have a solution? Tell that story And if, after 30 seconds, it’s time to exit the elevator, at least you’ll leave the listener with a mystery they’ll want to investigate And when they do, they’ll find you

SECOND Leave out the information (yes, almost all of it) It’ll be difficult to resist mentioning the features of your product or the year-over-year revenue growth, but resist you must All of those facts and bits of information are utterly forgettable If you only have a few moments with someone, use it on a story they’ll remember

LAST, Disconnect from the outcome–let the story do its job… What if Jesus told the story of not hiding your light under a bushel and then asked listeners for a bulk order of candles Or if Martin Luther King Jr told the world about the dream he had and then asked people to please leave their business cards in a bowl at the back of the Mall Spend time developing a story compelling enough you don’t even NEED a call to action I arrived home from the airport that evening and told my husband the story of the best elevator pitch ever (and admitted to almost losing a limb in the elevator shaft trying to chase them down to hear the rest)

 

Brand v/s sales pitch

| November 12th, 2017

Hi guys So I just wanted to really quickly talk about brand versus sales in digital marketing

I see a lot of companies that are creating social media content with the purpose of getting the sales straightaway upfront, and that’s not really the way social media is meant to be used Social media is about creating awareness of your brand and awareness of the products and services that you offer, not selling something straight away as a hard sell So branding is a long-term gain It is not something that happens overnight and it’s not something that happens during a week or even a month It can take a couple of months to begin to develop and find your voice online and how you wish to be known, but the great thing about branding is once you have that brand and you have that presence and people know who you are, they trust you they like you they know you, and they’re more likely to buy a product from you when they know that it exists ie when you do a what Gary Vaynerchuk calls right hook and talk about your product and actually sell it

So you might choose to sell it maybe one tweet in 10, one tweet in 15 ,and the other times you are talking about branding and what makes you special, what makes your product or service unique, why people should buy from you, helpful tips, helpful guides, just generally creating content that develops your brand as opposed to selling This will make sure that every time you do sell you are more likely to get higher volume of sales because people already know you, trust you, like you and are more likely to buy from you So branding is key, NOT sales and hard-selling

 

Have you been wondering what an effective travel agent sales pitch looks like? What are the travel agents doing who booked millions of dollars worth of travel or more each year Most of them are using a simple six step sales process and I'm going to share it with you today so you can use it too

The six steps to an effective travel agent sales pitch are number one – Connect with them and find out how they heard about you For example you could say hi Jane, thanks for meeting with me today I'm excited to learn more about you and the type of trip you want to take Of course be sure to ask them how they heard about you keep it simple and straightforward Step 2 – Ask them to tell you about the type of trip that they want to take where they want to go in all of the different details around their trip

Step 3 – ask them what their budget is and if they say they don't know then give them some budget ranges for the destination that they're wanting to go to and for the type of trip that they told you that they want to go on So here's an example using some fake budget If you’d like this to be a 4-star type trip with coach airfare, then for a budget of $6-$8K thousand dollars you could enjoy your honeymoon in places like the Riviera Maya or Puerto Rico for a budget of ten to fifteen thousand dollars you could go to Bali or st Lucia and for a budget over eighteen thousand you could go to Maldives based upon held these first three steps of when you'll know if they're an ideal client for you or not and if they are then continue on with these next three steps Step four – get to know them better ask more questions such as is there anything specific that you want to see or do while you're there Step 5 – give them a few tips and recommendations

Don't shower them with everything you know but do them with a couple of great tips or recommendations and finally step 6 – ask for the planning fee and/or service agreement so that you can sign them up as a client That's an overview of the six steps to a high converting free consultation below this video you can download a travel agent sales tips guide that gives you lots of good questions to ask shows you how to frame your question and gives you a bunch of other tips and if you're in the travel expert marketing Academy in module nine we give you a detailed outline of these six steps along with a lot of other travel agent sales tips and strategies that work beautifully and feel good You won't feel like you're selling at all You'll feel like you're sharing and if they're an ideal client for you you'll land the booking Now I want to hear from you

Which of these six steps are you already doing a great job of in which if any could you use some improvement on? Please share in the comments below and if you like this video click the like button and share with your travel agent friends For more videos like this one please subscribe to our youtube channel It's your time to shine What are you going to do to break through to that next level of your travel business and life? Thank you for watching and I'll see you in the next video Have you been thinking about how to get more ideal clients in your travel business do you want to know what wildly successful travel agents are doing? We can show you how to create a highly profitable and rewarding travel business without overworking yourself will short cut your success by showing you how to get as many new ideal clients as you can handle

Find out how by going to: JoinTravelAcademycom right now and registering for your free online marketing training which will show you how to be a wildly successful travel agent in today's market and you'll get a preview to the premier travel expert marketing academy Go to: JoinTravelAcademycom right now and register you don't want to miss out on this free valuable training I'll see you there

Source: Youtube

Certain states offer expedited service That doesn't mean that we’re processing documents more quickly for you, we still process documents as soon as they come to us

However, the difference is the state improves the speed at which they send documents back to us So typically, for example, in Delaware standard turnaround time is about two to three days for us as a registered agent in Delaware We file what’s known as: Priority Six If you request an upgrade we provide a higher filing priority, and there’s a state fee associated with that, but typically documents will come back within the same day We guarantee them within twenty four hours so if you have an urgent need to receive your documents back we suggest you contact us for an upgrade There's a twenty four-hour upgrade on our website, if you need faster service you can call us

And there are other service fees associated with two-hour service, one hour service, or even thirty minute service Those fees are rather high, however, the twenty-four hour service much more affordable and we would be happy to help you at IncNow with that

Source: Youtube

Pre-incorporation pitfalls to avoid I frequently see founders making the same sorts of mistakes as different founders from time to time, so I'd like to share them with you now so you can avoid them

First of all, companies start by a group of people getting together and talking about a potential idea, brainstorming different ideas, and slowly an idea begins to take shape and a team begins to take shape around it It makes sense for people to be clear about who's on the team, who's not on the team, and what the different roles are and what the different expectations are As early as possible, I would make sense to get clarity around those things Second, entrepeneurship is a team sport, yet it's important that there be a leader, and that leader is the CEO and should have the biggest amount of shares among the people involved Third, the team is going to start talking to other people on potential funding sources, potential alliance partners, and it's important before you begin those conversations to think about whether preliminary patent protection should be filed for, and that's the time to talk to a patent lawyer before you start having external dialogue

The team is going to talk about the percentages that each of them hold, and that's fine, that's normal, but at the same time everyone should realize that those percentages are going to be diluted over time as investors come in and as other team members come in One of the things to think about when you're putting this team together is what happens if you end up not launching a company and there's some IP created that people want to exploit, and it makes sense for people to understand what's going to happen if there's no company Is everyone going to be free to go off and start their own company or is someone going to actually own certain pieces of it? So, these are the kinds of things to think about when you have a dialogue going very early on about forming a company, and if you get to a certain point and it looks like it's going to be real, it may make sense to just go ahead and form the company

Source: Youtube

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In addition to all the free complimentary services we are also giving you free M&AA free business profile from biz file free electronic Certificate of Incorporation and more Submit the required information that needs to be prepared are 2-3 proposed company names a copy of the local directors NRIC or foreign directors passport copy a copy of local shareholders NRIC and all foreign shareholders passport copy Descriptions of two main business activities A registered physical office address A breakdown the shareholding percentage and a minimum paid-up capital 1 Singapore dollar call us now at 6100 6673 or email us at info@asgsg or email us at info@asgsg up

Source: Youtube

Avoiding dumb pricing mistake

| November 5th, 2017

There’s a dumb pricing mistake entrepreneur’s make when they price their products and services that leaves a tremendous amount of revenue on the table Are you making it? Probably

A few months ago I was talking to a friend who creates this high-quality demo videos for huge companies and start-ups He’s got two packages one for about ten grand another for fifteen grand I cringed He was leaving a few hundred thousand dollars a year on the table easy

What’s worse I see so many entrepreneurs who sell information, software, freelance, consulting making this same exact pricing mistake day in and day out Why? Because of most business owners –hey! pay attention– because most business owners don’t know about the psychology that goes into setting profitable pricing strategy for their products and services Most business owners actually just sit back and think to themselves hmmm, what should I, they just pull a number out of a damn hat and that’s it That might work for some people who like losing out on money but for smart entrepreneurs that’s dumb as hell I’ll explain, in a study by Simonson and Tversky they share a story about William Sonoma which was then a mail order company

They talk about how William Sonoma introduced a new bread machine into the market and this bread machine they thought was going to sell extremely well Well it didn’t It didn’t sell well at all However, this is when they decided to introduce a new bread machine A bread machine that costs fifty percent more than the original bread machine

The first bread machine cost two hundred and seventy-five dollars The second bread machine cost four hundred and twenty-nine dollars and what happened? Sales of the first bread machine the cheaper bread machine almost doubled It’s not what they were expecting but what happened was people were exhibiting this like trade-off effect They didn’t wanna buy the most expensive option so they decided to buy the cheaper option This happened for a couple of reasons the more expensive option acted as price anchor making the cheaper bread machine appear cheaper and look like a deal but as Simonson then went on to point out in his paper there’s a tradeoff effect happening where people would rationalize purchasing the less expensive option by avoiding purchasing the most expensive option

Now take this back to my friend, my friend with the ten K package and the fifteen K package What was going down as people were avoiding the fifteen K package and then taking the ten K package and it was killing his average price per transaction but it got worst People didn’t even just pay for the ten k package they would try to haggle that package down even further So what did I tell him? I told him to create three packages one for ten, one for fifteen and one for forty-First, there are companies and idiots like me who would always take the most expensive option no matter what

So you might as well have it there and there’s an added benefit Now people would be trading off the forty K option for the fifteen K option instead of trying to trade off the fifteen K option for the ten K option And there’s also one more benefit when my friend instituted these three packages people stopped trying to haggle his prices down How annoying is that? You don’t want someone telling you how much you are worth But check it in a total twist of fate the following day right after he implemented these three packages the next day he was landed a contract for thirty thousand dollars

YES! Now let’s take this back to you How are you pricing your products and services are you offering multiple levels of service? Are you offering three separate packages? If you’re not you should test using three or even four packages as soon as possible to help prevent the trade-off effect for minimizing the amount of revenue you pull in per customer I’ve known for these psychological studies for quite some time but I always assumed that everybody knew about it but when I told this to Chris and he didn’t know I was shocked This is why I am creating this video right now So for you, do you know a friend that you think could benefit from this pricing knowledge? if so go ahead send them a quick little email, give them the URL to this video and send it their way you might be saving their business

 

(upbeat music) – Using pricing access to grow your SaaS company In today's video I'm gonna answer the questions how do you increase your revenue? If you've gotta a SaaS company, you're wondering how do you capture more value for the value created, how do you deploy deeper into the organization so that you can increase your lock-in? And all of those come down to different pricing axis

You know recently Brian Halligan, the cofounder and CEO of HubSpot, one of the latest SaaS companies to go public and just totally kill it Incredible company, big fan of Dharmesh and all the people that work at HubSpot, and he wrote a great blog post about startup to scale-up, and he shared the whole story of HubSpot, and in one section that I just thought so fascinating was the argument that all great SaaS companies that have been able to scale their businesses, they've had multiple pricing axis That means they have multiple ways to generate revenue from their customer, and what Brian notices in HubSpot, they only had two And the average company at scale has four to five So what I wanna share with you guys is the four that I think all of you out there that are building SaaS companies can implement to really get the most value from the customer

The first one is plans, right, which pretty much every startup SAAS company has plans, right? Most of them have three tiers, you know, they have a high priced plan, they try to get people to subscribe at the mid-tier and some of you at the enterprise level might even have a fourth plan that's kinda like click here to kind of have us contact you for a special quote, because that's for these big companies that might have needs around security and support and service level agreements Whatever it is, that's like your really high-end price point, so the first level of the first axis is just plans, right? Have you optimized those plans to really capture the most value from your potential customers? The second one is number of seats, you know, how many customers, accounts, users can use the product And having those fixed in your plan so that if they need more that's another way for you to up-sell and increase the revenue by selling them more seats to their product So that is a no-brainer, a lot of companies do that The third one is add-ons, right? So think about your product

Is there any enhancements that you could make around the usage, the data, the workflow, that it's either something you've built internally that's an add-on, or it's something a partner's built that you can sell on their behalf, and create a partnership there to do rev-share Whatever it is it's an add-on that enhances the core product That is the third area or pricing access that every SAAS company really needs to investigate to increase that revenue And then the fourth one is other services, you know? And the gold standard for this in my world in the SAAS world especially is Salesforce, right? You think of Salesforce, they're the world's best SAAS company and their core is a CRM, but they have several other divisions from social to support to marketing, and these different clouds they call them are other services that you can add on And what's great about it is if you can get a customer buying your core product, in Salesforce case it's a CRM, and then buying another marketing component, or buying the support cloud as well, you're gonna increase their adoption of your technology

All the interfaces are similar, the integration is similar, and you're gonna get better lock-in for your customers before they decide to make switch to another product So having other services, and if you don't have 'em here's a really great opportunity for you to look at other partners that might have solutions that you can partner with and add them to your add-on services for your sales people to really create the most value for your customer This is really thinking strategically about where is the value that we could create Enhance that value, create more value for your customer than anybody else on the planet and you're gonna win So here's a real quick recap

You gotta ensure that you have the right pricing structure around your plan, the right number of plans the average is three, if you wanna go four for that high-end one, the number of seats that you allow per plan and then up-selling the number of seats is another pricing access Add-ons, so what are enhancements and features to the product For example, I know a lot of email solutions out there, one of their add-ons is to provide social data on top of those email addresses or CRM tool That's a great example of an add-on that they can charge per email or per batch of emails

So that's a great add-on And then the fourth is other services What other products do you have in your company that you can sell as part of your core, or partner with other companies that offer that Create that partnership If you wanna receive more videos, exclusive invites to events and whatnot, subscribe to my newsletter

I'm real excited to have you here Be sure to subscribe to this channel to get more information about building your startup and as per usual, I wanna challenge you to live a bigger life, and a bigger business I'll see you next Monday

– Only use a freemium business model when the following three of four things are true (upbeat music) I don't know if you've ever thought about starting a SaaS company that uses freemium or you have a freemium product today

But I've been building companies now for over 17 years I've studied freemium in a big way I was, I'm a formal advisor to Hootsuite, one of the large freemium companies I'm friends with Drew from Dropbox So I've seen in the early days how they've built that company

I even integrated with Mailchimp in my company Flowtown So I've worked with Ben personally, the founder and CEO there and watched them go through that transition from paid only to freemium So I've studied this industry like crazy And you know recently I was on the phone with an entrepreneur and she was walking me through her business model and her pricing plan And when I looked at the market she was in, they were B2B SaaS and the pricing of the model

I mean it was $7 a, it was free to use And then $7 a month per company, unlimited users, unlimited seats I was like, "I don't want to be critical "but right off the bat, you'll never be able to scale this" And it took her by surprise She's like what do you mean? And I was like freemium and your model is not going to work

She's like why? And I said well, you're violating too many of these rules And then I walked her through these four different rules And she realized that she had made that mistake And it had been three years that she sat on this and not really seen any growth whatsoever And I think that conversation really sent her down the path

And that's what I want to share with you today So the first one is, you got to make sure that the potential number of users is in the tens of millions of users, tens of millions, right So, if you're building something for like a very super niche SaaS market like doctors that do a very specific type of operation That's not tens of millions of users And there's a reason why you need tens of millions, because of the way the economics works

So, number one is make sure the total number is in the tens of millions Second one is that free distribution is a competitive advantage You know I remember seeing Mailchimp when they did this That was their key thing, it's like look, there's all these other email providers out there But if we do a free product, especially with 2,000 emails on your list before you have to pay

That is incredible But they, you know Ben wrote this amazing blog post, I'll link it up below, that walked through his thinking and the math You know ten plus years of data doing paid only to finally say, you know what, if we can increase our marketing, it was a marketing decision to go freemium, if we can increase the amount of people in our trials, we know that they're going to convert at this level and overall it's going to net us ahead from not doing it So, it was a very deliberate business model decision And really it's free is a competitive advantage

If that's true then that is a potential for a freemium business model The third one is that your product has a very simple and straight- forward value proposition When people sign up, if it's complicated, if they need a customer success team, if they need somebody to talk to from a sales or account managers, you do not have a simple process When I'm talking about simple, value, straight-forward is like a Dropbox Think about it, I have a folder on my computer

I drop folder or files there and I can share it That is straight-forward and simple You know and that when you look at all the top, you know, Evernote, very straight-forward I put stuff in here, I can search and I can retrieve it on all of my different devices and they're synchronized Very simple and straight-forward

If that's not true, then I would challenge you that maybe freemium is not the right decision for your product And then the fourth one is the marginal cost to serve additional users is negligible It doesn't matter, like it's like fractions of a penny because the free is kind of taking the marketing spend Instead of spending it on marketing to get more users, you get free users in there using the product, getting, you know, to that moment of gratification and a-ha and they love it and the core value And then they tell other people about it

It's word-of-mouth marketing on steroids And it's a decision if it costs you $5 to support a new user and most of them are free, it will never scale And this, I see this happen so many times So, those are the four A really quick recap is the number of potential users in the tens of millions, okay, tens of millions

Two, that free distribution is a competitive advantage based on the competitive set in your market Three is that the product has a very simple, straight-forward value proposition And four that the marginal cost of serving an additional user is negligible, it's like pennies, it's fractions of a penny I mean just think about this, if all you, if you wanted to get one to four percent of your users to paid to reach a hundred million dollars in revenue Okay, so if you want to get one to four percent of your users are paid, hundred million in revenue, and charging $100 a year, you would need to get, with a four percent conversion to paid

You would need twenty-five million users using your product Just think about that Do you have the financial means to scale, to defer, to build-up, to understand, to build the capacity to scale that product in a way that you can get to twenty-five million users because only four percent are going to be paying 100 bucks a year I mean, you know there's companies like Slack and so many other incredible freemium companies that you can look to But they're the exception not the norm

And I think that freemium has caused more harm than good for a lot of SaaS companies and I would argue if at least not three of the four of these kind of filters or rules fit that you might want to consider going to a kind of a free trial to paid or paid only business model As per usual, I want to invite you to subscribe to my newsletter, just click right up there to get exclusive content and invites to private events And I want to challenge you to live a bigger life and a bigger business and I'll see you next Monday