Man are those Thin Mints good. I will gladly pay $4 a box. Gimme 10 of them pronto. I put them in my freezer and have them for dessert. Ah-may-zing!
So this guy calls me up. He wants my Thin Mints. He wants to hire me as his financial planner.
He immediately asks me what I charge for my Thin Mints (my fees!).
He probably wanted to buy my Thin Mints for $3.50!
I was right. Keep reading….
Ding. Ding. Ding. The bell goes off in my head. This guy is shopping. He is price sensitive. Not who I want to deal with.
This guy was in poverty thinking mode. I could hear it in his voice. He was so concerned about how much it was going to cost.
He forgot about the benefit.
He wasn’t thinking about what could be possible if he hired me. A better financial life.
So I asked him what he did for a living. He said he was a tutor and a consultant. I then asked him, what happens when his prospects call him and ask him about his fees right away.
He got the point – that usually – when someone asks you what your fees are in the first 15 seconds – they are major price sensitive. The relationship usually just doesn’t work out.
I turned him down with 30 seconds into the call. He was shocked. He couldn’t believe I turned him down so quickly. I totally caught him off guard. He was expecting a nice discount.
He quickly got the point that I wasn’t needy, that I was willing to walk away from a potential client.
You need to be this way with your prospects. It’s time to stand up for yourself.
It’s time to charge what your worth. If you are getting enough at bats (meaning chances to get business), than there is plenty of business to go around.
If you aren’t getting enough business, than you need to be doing major marketing, or change your marketing.
When people grind you on your fees that is usually not their only expectation.
They start asking you to do other things like walk their dog, do some dry cleaning, and cook dinner! All the stuff that is outside the scope of what you do.
These people become toxic. You just need to cut them out. There are plenty of people who will pay your price.
Why, because you are amazing at what you do. You’re the best. For reelz.
Be in charge of your life. It’s about personal dignity baby.