Partnerships, strategy sessions, meetings, & conference calls…what do these have in common? None of these activities inherently guarantee you get paid. The hardest part of any deal is solidifying your paycheck. As you progress through deals you will come to surprising conclusion.
Many people are reluctant to discuss payment.
It is a simple concept. You need to get paid. Your time is worth something. Despite the obvious observation many struggle with this situation. I have a saying that I tell all my clients. It is something that I hope you adopt as well.
“Don’t get sold. Get convinced.”
Whenever you approach a deal focus on three concepts. These concepts are very simple. Focus on measuring if your client: 1) has more with you than without you, 2) is losing less because you are there, or 3) gains without the headaches usually associated with their business.
These three concepts are simple. These three concepts are how you explain to your client how much they “have” not what you “take”. I cannot stress how important these three simple concepts are. No one will dispute having more is bad. No one will contest that gaining is bad. No one will object to you making their life easier. Placing a contract in front of someone that clearly articulates these concepts is easy. The simplest thing to do is asking someone to sign documents that guarantee them more than they already have.
How you come to conclusion depends on your trade or skill. If you are a tax professional reduce the tax bracket. If you are a financial advisor gain them safer returns. If you are a manufacturer lower the costs of goods sold. If you are a real estate developer shorten construction time lines. There are many ways to showcase increased gains. These methods need not always contain “cheaper” prices. Efficiency and time are great characteristics to solidify contracts.
For instance, I may charge $350 an hour. This is the same going rate of everyone else. The component that separates me is application to unique circumstances and very quick time tables. I typically produce results two to three times faster than my counterparts. Time costs money. Business owners understand the characteristics of time cost analysis. You always get what you pay for. The cheapest person in the market is the most inexperienced or lowest quality. There will never be great quality for the lowest price. You can obtain decent quality for low price. You can obtain good quality for a great price. You can never obtain great quality for lowest prices. Do not be delusional. The greatest qualities take time, attention, and are sought after. The prices always reflect it. If you have great quality offering cheap prices creates a sense of mistrust. Do not fall in the category of “Too good to be true” by failing to charge fair price.
Pen to pad is easy if you can convince clients of three things: 1) client has more with you than without you, 2) client is losing less because you are there, or 3) client gains without the headaches usually associated with their business.
Truth is often simple. Falsehood is often complex. Do not devalue the wisdom in simple statements. Simple statements will result in your success.
About Christopher: Christopher Knight Lopez is a Professional Entrepreneur. Christopher has opened over 7 businesses in his 14-year career. Christopher’s purpose is to take advantage of various market-driven opportunities. Christopher is a certified Master Project Manager (MPM) and Accredited Financial Analyst (AFA). Christopher previously held his Series 65 securities license. Christopher also has his General Lines — Life, Accident, Health & HMO. Christopher has managed a combined 286mm USD in reported Assets Under Management & Assets Under Advisement. Christopher has work experience in 29 countries, raised over 50mm USD for various businesses, and grossed over 7.5mm in his personal career. Christopher worked in the highly technical industries of: biotechnology, finance, securities, manufacturing, real estate, and residential mortgages. Christopher is a United States Air Force Veteran. Christopher has a passion for family, competitive sports, fishing, martial arts and advocacy for entrepreneurs. Christopher provides self-help classes for up-and-coming entrepreneurs. Christopher’s passion to mentor comes from belief that entrepreneurs need guidance. The world is full of conflicting information about entrepreneur identity. See more at www.christopherklopez.com