Price Is Only An Issue In The Absence Of Value
Well good morning everyone, it’s Andrew Abel here. And today I want to talk to you about why price is only an issue in the absence of value.
So here I am today, I’m perched on top of Mt. Panorama. This is where the great race happens every year and just behind me there you can see Skyline and then at the bottom of the mountain there you can see the pit lane. But that’s not what I’m here to talk to you about.
I’m here to talk to you about that price discussion. That discussion that you all have when you’re in an initial consultation with a client and you’re trying to get them across the line and they ask about price. Now price is not a discussion that you want to be having as an adviser in the absence of value.
Now typically if you’re charging anywhere between say, two and $500 an hour, if you haven’t had the opportunity to establish value, you do not want to be having the price discussion.
And so one of the things that I teach my clients is a five step process for running through an initial consultation. The first three steps are all about the prospect, what’s going on for them, where they want to get to, and how you might be able to transition them from problem to solution. The fourth step is about the logistics of working with you. What’s it going to look like? What sort of support are they going to get? How’s it gonna play out for them?
The last part of the initial consultation process is price. And the reason is because the first four steps were all about establishing value. All about positioning you as the expert that’s going to solve their problem. So by the time they’ve got to the price discussion, most people will have already made the decision to buy.
So I hope that’s been useful. If it has, look, smash that like button or tag a friend that might need to hear this message. I’m Andrew Abel. Price is only an issue in the absence of value. Bye for now.