Let’s take a look at the mental state and insights needed to run and be a high level consultant
- Confidence & certainty
- What is going to attract people to you and make them want to pay you is their confidence in you and certainty that you will deliver
- The best way is to have confidence yourself 1st off
- Write down what segment of market do you feel most confidence with working with and that you are confident enough with to help them and get paid later. So what area of your market gives you the most confidence? When we market to these people only, we will be more successful since we are niching as well
- Starting consultant, smart person, premium prices, want to help
- Results & value
- What one activity that you excel in, and do this one thing with these people and life is good, what is the primary number 1 result that we can deliver and what is the value of this for the client in the long run.
- $2,000 a month, $ 24,000 a year per 1 client
- Power & control
- We need to bend people to our will that is our business. Need to comfortable, saying so this, no excuses etc., and be comfortable to get people to do what you told them to do.
Decide to be what your time schedule is to be.
You do 3 things in exchange for money
- Talking to people (mostly Skype, rarely in person.)
- DFY – Done for you stuff – maybe you do this, do this in the time of thinking
- Thinking and answering emails etc.
- If you could ONLY get paid AFTER your client got results, who would you choose to work with that makes it appealing
- It makes us focus our minds on the one thing we are really selling – RESULTS
- Also forces us to identify a dream scenario where we can quickly and easily get results for a client, without working to death
- We will immediately notice client characteristics and situation details
- Our mission is to identify dream scenario client, identify any situational details that are helpful to us, and direct our focus toward finding those clients in those situations,
- A client in high finance with average, worth between 70,000 and 300,000 and an aggressive marketer.
- This makes him a dream client because one or 2 customers from Franks advice make him wildly profitable.
- But there’s more to it.
This guy’s target market is people with 5mil net worth and annual income of 600K or more.
His location has over 1200 people meeting the criteria in a 50 mile radius, so there is a good chance of winning. If he was in a small rural area, it would be very different.
The factors outside of the personality is also important.
- Let’s say that you use direct mail to reach ideal clients
- And it costs $1 per letter to mail letters for appointment
- We need to mail the list 10 times to get one client.
- $12,000 mailing cost for 10 mailing of a 1200 list
- Minimum client profit is 70K higher end 300K
- So even with horrible response, still a net of 58K-288K for one small campaign.
So if this guy said write me a campaign and if successful I’ll pay you – I’ll do it
Think along the lines of getting paid in arrears – although never DO it.
- Write down dream client
- Write down dream scenario where you have a super easy win (e.g. guy who sells high end water surrounded by rich people in a dessert)
- Think about the client first
- What are the characteristics
A $10 yes is the same as a $10 million yes
- High value per customer
- Understands importance of marketing
- Currently spends money on marketing
- Owner operator (as opposed to big company
- What verticals have very high customer values
- Cosmetic surgeons and dentists
- Commercial real estate and real estate developers & Luxury real estate brokers
- Financial service
What about understanding the importance of marketing
Behavioral indicators – indicates that they have these key characteristics, shows that they are advertising a lot, make them good clients.
List brokers, you can segment into specifics you want, e.g. income, who advertise etc.
The more you locate the ideal scenario, the better you weed out all the small fish and only have whales left over.
Let’s say your ideal scenario is surrounded by affluent people, do a little research and locate areas which are filled with rich people and target them only. This makes for an easy win and gets quick results for your clients. Plus the market data you gathered can be used in your sales process.
Use offline & offline data to find and market the ideal person.