Replay - Electrical Business Lessons From the Titanic

Transcript

WEBVTT

00:00:04.088 --> 00:00:09.779
hello, hello, hello and welcome back to Electropreneur Secrets, the Electrician's Podcast.

00:00:09.779 --> 00:00:17.870
Me and Joe, we're here with you five days a week to help you master sales, simplify pricing and deliver premium level service.

00:00:17.870 --> 00:00:22.702
I promise you guys there's a test on that later I'm going to ask you what we say every show.

00:00:22.702 --> 00:00:24.349
If we get on a call, I'm going to ask you that.

00:00:24.349 --> 00:00:32.845
So if you're ready to recite that back to me and you're the first person to do it and nail it a hundred percent, I am straight up going to give you.

00:00:32.845 --> 00:00:35.451
Um, what an applause.

00:00:36.012 --> 00:00:40.584
And I don't have a prize in mind, yet is it cash?

00:00:40.584 --> 00:00:43.487
We will have us, we will have something worth giving.

00:00:43.927 --> 00:00:49.173
Yeah, I'm going to give you a value piece like none other, worth millions of dollars.

00:00:49.173 --> 00:00:50.515
There we go, joe.

00:00:50.515 --> 00:00:51.296
How are you doing today?

00:00:52.161 --> 00:00:53.246
I'm doing awesome man.

00:00:53.246 --> 00:01:02.107
I feel like we've got a really, really cool podcast topic that I'm just itching to just chew at, but, honestly, things are going good on our end.

00:01:02.107 --> 00:01:02.530
What about you?

00:01:03.860 --> 00:01:05.415
Yeah, I'm feeling good, man.

00:01:05.415 --> 00:01:06.019
You know what?

00:01:06.019 --> 00:01:08.048
We had a rough boat ride on the weekend.

00:01:08.048 --> 00:01:12.284
The wind really picked up, and we went and stayed at the in-laws on the island nearby.

00:01:12.284 --> 00:01:22.828
It's like a just about two hours on a ferry, though, and even these massive ferries with a few thousand people on them were just doing the waves right up, really down the whole time.

00:01:22.828 --> 00:01:28.596
Like walking down the ferry deck was a problem, really, yeah.

00:01:28.596 --> 00:01:32.774
So still, even right now, as I look at you through this screen, the whole room is moving.

00:01:32.774 --> 00:01:38.409
You ever get that from being on a boat too much the thing is I actually like having sea legs.

00:01:39.070 --> 00:01:43.625
I don't know why, but every time I've ever been on the water, I've almost preferred it to being on dry land.

00:01:43.625 --> 00:01:47.349
Really, yeah, no, it's weird.

00:01:47.349 --> 00:01:50.191
I've spent time on the water.

00:01:50.191 --> 00:01:56.560
We've gone on extensive ship trips and things like that, but I really prefer the rocking of the water.

00:01:56.560 --> 00:02:02.033
I've actually never slept better than when I'm sleeping with the room moving you.

00:02:02.033 --> 00:02:04.507
It's almost like that hammock mentality.

00:02:04.700 --> 00:02:15.127
It's just great interesting interesting and, honestly, a perfect tie-in with our topic of the day, which is really what can we learn from the titanic for our electrical biz?

00:02:15.127 --> 00:02:33.263
And there's a few things I know there's what you wanted to touch on and I've actually got a surprise for you as well, because there's a couple other things in front of that, like going back in time, even to what happened with the titanic, what happens on that maiden voyage, and even now coming forward to recent events.

00:02:33.263 --> 00:02:36.574
I hope this isn't too soon or insensitive for anyone.

00:02:36.574 --> 00:02:42.848
It's just the facts are the facts, and some things came forward that made that a fairly unsafe voyage.

00:02:42.848 --> 00:02:49.406
In our businesses, a lot of times we tend to be a little risk tolerant.

00:02:49.406 --> 00:03:03.169
We tend to do a little less of the management of this project, of launching a business, and a little more of just jumping right in, getting excited and doing things that aren't always well-founded with good factual evidence.

00:03:03.169 --> 00:03:05.454
Does that make sense and have you ever seen that before, joe?

00:03:06.060 --> 00:03:09.888
Oh my God, yes, I mean, isn't that just humanities, mo?

00:03:09.888 --> 00:03:11.671
At a certain point, I want to do it.

00:03:11.671 --> 00:03:14.007
I want to do it now I've got the money to do it.

00:03:14.007 --> 00:03:18.182
Fuck it, I'm doing it Right, like that's really what a lot of it comes down to.

00:03:18.182 --> 00:03:21.771
And unfortunately, some people in business can get in the same thing.

00:03:21.771 --> 00:03:35.468
Where they get this, they start actually making money and the rules start changing, and we have to realize that's the whole point of what I want to talk about today is the rules need to stay lined up.

00:03:35.468 --> 00:03:40.111
We can't forget where we came from and where we're trying to go.

00:03:41.320 --> 00:03:43.620
That why, that why is so important.

00:03:43.620 --> 00:03:44.836
That's where we're at.

00:03:44.836 --> 00:03:44.997
So do you mind if I jump into it?

00:03:44.997 --> 00:03:45.185
Yeah, yeah, kick it off.

00:03:45.185 --> 00:03:45.469
That why, that why is so important.

00:03:45.469 --> 00:03:45.681
That's where we're at.

00:03:46.240 --> 00:03:47.443
So do you mind if I jump into it?

00:03:47.443 --> 00:03:49.289
Yeah, kick it off, all right.

00:03:49.289 --> 00:03:59.704
So once again, blanket statement we are not intending on being insensitive, but at the same time, there are two very different sides of this situation.

00:03:59.704 --> 00:04:00.205
That's happened.

00:04:00.205 --> 00:04:03.550
The facts are, people went down to see the Titanic.

00:04:03.550 --> 00:04:08.025
A lot of the questions came up as to why they were there and things like that.

00:04:08.025 --> 00:04:09.908
Unfortunately, they all passed away.

00:04:11.092 --> 00:04:17.040
On one side of the argument, you have someone saying, regardless, loss of life never good, we don't like it.

00:04:17.040 --> 00:04:27.545
On the other side, you have people pretty much laughing that a bunch of people went down a souped up propane tank 12,000 feet under the water and it's like, okay, well, that's what happens.

00:04:27.545 --> 00:04:34.564
But there is one consistent thing that happens from both sides that we want to talk about today.

00:04:34.564 --> 00:04:41.983
The overall cost to go down there was three hours for $250,000.

00:04:41.983 --> 00:04:49.906
And almost every single person that I've ever heard mentioned that figure has always said how they would spend that money differently.

00:04:49.906 --> 00:05:07.653
Now it's a very interesting thing because for most people most people in our own circles as well think of the richest person you know like personally know, if you were to give them $250,000, what would they do with it?

00:05:07.653 --> 00:05:11.309
Some people say, oh, I would give it to charity.

00:05:11.309 --> 00:05:15.386
Others say I'd pay off my mortgage, I'd pay off these things.

00:05:15.386 --> 00:05:26.180
But that's the problem we're thinking about spending someone else's money in a way that wouldn't necessarily apply to their direct situation.

00:05:26.822 --> 00:05:32.053
And before you take us off of that, let me just engage with our current live viewers.

00:05:32.053 --> 00:05:39.487
If you're with us in the VIP and the Electropreneur Facebook community group, let us know how would you spend the quarter million.

00:05:39.487 --> 00:05:41.961
Was this something that was on your bucket list?

00:05:41.961 --> 00:05:45.732
What would you have done differently before we taper away from that?

00:05:45.732 --> 00:05:46.622
All right, joe.

00:05:46.622 --> 00:05:48.507
I'll take you back in on that one.

00:05:49.088 --> 00:05:57.627
No, it's all good and I have to admit, as much as I'd consider myself to be a decent person, I'm not spending $250,000 on charity.

00:05:57.627 --> 00:06:00.367
That wouldn't be the thing that came to mind.

00:06:00.367 --> 00:06:02.067
There are expenses to take care of.

00:06:02.067 --> 00:06:03.947
There's ways to improve the lives of your family.

00:06:03.947 --> 00:06:09.541
There's expenses to take care of.

00:06:09.541 --> 00:06:10.526
There's ways to improve the lives of your family.

00:06:10.526 --> 00:06:11.148
There's investments to be made.

00:06:11.148 --> 00:06:12.653
That's usually the first thought of someone who's in upper to middle class.

00:06:12.653 --> 00:06:14.060
You start thinking of what we can do as you go further down the scale.

00:06:14.060 --> 00:06:15.403
It's I need to take care of this.

00:06:15.403 --> 00:06:16.365
I need to get out of debt.

00:06:16.365 --> 00:06:23.668
Regardless, the person is solving a need based on their particular means of solving it.

00:06:23.668 --> 00:06:26.132
So there's two things we need to discuss.

00:06:26.132 --> 00:06:37.550
One it touches why people offer options, and the second thing that we're going to learn here is that we can't lose sight of our why.

00:06:37.550 --> 00:06:45.848
Because let me ask you guys this, let's say, sake of argument I handed you $250,000.

00:06:45.848 --> 00:06:49.944
You had it in your hand, Clean check, Not even check it's cash.

00:06:49.944 --> 00:06:51.107
You have it in hand.

00:06:51.447 --> 00:06:52.168
I'm feeling the weight.

00:06:52.168 --> 00:06:53.932
I'm there Okay.

00:06:54.939 --> 00:06:58.288
A lot of us were saying they should have donated it to charity.

00:06:58.288 --> 00:07:03.350
But how many of us, given the same circumstance, would have donated it to charity?

00:07:03.350 --> 00:07:07.463
Us, given the same circumstance, would have donated it to charity.

00:07:07.463 --> 00:07:11.932
Sure, we wouldn't have taken a three hour you know submarine trip, but would we have donated it like we're accusing others of doing?

00:07:11.932 --> 00:07:14.704
So what are the odds?

00:07:15.485 --> 00:07:19.211
well, pretty much nil, unless you planned on that.

00:07:19.211 --> 00:07:27.132
Really, I mean, that's what I'm always going to come back to is what's the plan, and that's the important part.

00:07:28.033 --> 00:07:32.355
So when we all started out, there was actually a line item for refunds.

00:07:32.355 --> 00:07:37.369
You actually taught me this yourself and I feel like it was such a great lesson to remember.

00:07:37.369 --> 00:07:45.744
If tithing is important to you, it should be done with intention and it should be done with purpose and it should be done within your means.

00:07:45.744 --> 00:07:49.910
You literally could say I have X dollars.

00:07:49.910 --> 00:07:55.444
I want to donate from my business to a cause that I truly believe in and do it.

00:07:55.444 --> 00:08:01.903
But if we look at everyone's numbers, why is it that it's so consistently zero?

00:08:03.285 --> 00:08:08.221
There's no plan for for it, just like there was an inadequate plan for the maiden voyage.

00:08:08.221 --> 00:08:20.149
Inadequate safety inspections, inadequate adherence to safety laws and regulations, inadequacy in every position, we could see around this event.

00:08:20.149 --> 00:08:23.754
Both events, both times right.

00:08:23.754 --> 00:08:25.492
It's not even just a question of money.

00:08:25.492 --> 00:08:27.541
It's also the question of project management.

00:08:27.541 --> 00:08:29.766
Are we doing our diligence?

00:08:30.767 --> 00:08:32.871
and the answer is no.

00:08:32.871 --> 00:08:44.691
As it relates to your question, though, if you don't plan for that and, by the way, just like we're talking about lessons from this thing things do go wrong for your business.

00:08:44.691 --> 00:08:53.288
Out there, you're listening right now things are going to go wrong for you a time or two, right like it's going to happen, and likely it's a time or two per year.

00:08:53.288 --> 00:08:57.019
For some it might be a time or two per quarter.

00:08:57.019 --> 00:09:11.301
If you don't have that built into your burdens, if you don't have a certain amount of losses set aside, if you don't have any of amount of losses set aside, if you don't have any of the refunds which are just under your sales revenue refunds there should be a number there.

00:09:11.301 --> 00:09:14.347
That's not shameful to have that and plan for it.

00:09:14.347 --> 00:09:19.006
It's smart Because, as they say, if you want to make God laugh, tell him you have a plan.

00:09:20.370 --> 00:09:21.615
And God, will he laugh?

00:09:21.615 --> 00:09:23.981
Because it happens way too often.

00:09:23.981 --> 00:09:25.745
Right, we think about.

00:09:25.745 --> 00:09:36.152
How often do people literally say, oh, I'm expecting to have a 10% loss in revenue this year, like you would never expect that unless your numbers were so on point that you could sit down and get to it.

00:09:36.152 --> 00:09:44.302
So the very first thing was to say a lot of us who are trying to judge and say you should have spent it on charity.

00:09:44.302 --> 00:09:46.364
Look inward as well.

00:09:46.364 --> 00:09:49.206
How much are you spending on charity within your means?

00:09:50.288 --> 00:09:56.556
There was a story that I was taught and I'm going to keep any kind of religious connotation out of it, so I'm going to speak it as best I can.

00:09:56.556 --> 00:10:13.528
There was an individual, surrounded by people who were following him, and this person was standing around and watching donations being put into a big coffer right and kings and sultans and everyone was showing and throwing huge vats and pots of gold into it.

00:10:13.528 --> 00:10:20.626
And a little old woman showed up and put a quarter of a penny in and that person was praised.

00:10:20.626 --> 00:10:32.461
The person was praised not because of the amount that they were putting in, but because they gave when they had very little and they chose to give the best of what they could with what they have.

00:10:33.624 --> 00:10:40.885
Very few of us entrepreneurs are in a position where we could shell out thousands, hundreds, millions to causes that we believe in.

00:10:40.885 --> 00:10:44.013
But the question I have for you is which are you?

00:10:44.013 --> 00:10:58.783
Are you only the kind of person that will give when you're sitting upon vast piles of gold, or are you the kind of person that's willing to give back to an industry or to a cause you believe in, even when you have little to give?

00:10:58.783 --> 00:11:00.265
What has more honor in?

00:11:01.649 --> 00:11:04.114
Yeah, I think it always comes back to that start with why.

00:11:04.114 --> 00:11:08.383
Yeah, I think it always comes back to that start with why.

00:11:08.383 --> 00:11:13.212
The reality is with many of the entrepreneurs we speak to each and every day, most people have some semblance of a why.

00:11:13.212 --> 00:11:15.202
There's a reason they got into business.

00:11:15.202 --> 00:11:17.469
There's a reason they got into electrical period.

00:11:17.469 --> 00:11:23.701
There's a reason they're striving to do better, like if you're listening to us, clearly you're someone who's looking to grow.

00:11:23.701 --> 00:11:24.884
You're looking to do better, be better than listening to us.

00:11:24.903 --> 00:11:29.177
clearly you're someone who's looking to grow you're looking to do better, be better than you were yesterday, be better again than you are today.

00:11:29.177 --> 00:11:32.450
Right, that's an indication of something.

00:11:32.450 --> 00:11:38.126
It's indication that there's a why in the background and if that why is big enough, you will succeed.

00:11:38.126 --> 00:11:45.808
But I do have to join joe here and just challenge you to pull out that mirror and really look at.

00:11:45.808 --> 00:11:49.607
I know how heavy mirrors are, don't get me wrong, but really look at.

00:11:49.607 --> 00:11:53.663
Do I have a plan in action along with that why?

00:11:53.663 --> 00:11:55.746
To make sure that I can enact it?

00:11:55.746 --> 00:11:59.754
Because a lot of people stop at the dream.

00:11:59.754 --> 00:12:04.067
They don't lay out the goals to get to that dream.

00:12:04.067 --> 00:12:05.292
Does that make sense, joe?

00:12:05.980 --> 00:12:07.082
Oh my God.

00:12:07.082 --> 00:12:10.471
Yes, because I'm sure other people are putting up their hand and saying, like, that's me.

00:12:10.471 --> 00:12:16.111
I've always found that when you have a goal, reverse engineering is the way to do it.

00:12:16.111 --> 00:12:17.701
I have a goal.

00:12:17.701 --> 00:12:19.644
What's it going to look like when I'm there?

00:12:19.644 --> 00:12:22.748
Okay, well, how do I have to be that person?

00:12:22.748 --> 00:12:24.750
Okay, well, how do I get to be that person?

00:12:24.750 --> 00:12:25.951
How do I get to get to that?

00:12:25.951 --> 00:12:31.427
And you keep going backwards until eventually I just say, okay, two steps forward, check, mark a done.

00:12:31.427 --> 00:12:41.330
Always, always, strive to grow, both personally and professionally, because that personal growth no one takes away.

00:12:41.330 --> 00:12:44.481
People can chop your business away, but that personal growth stays.

00:12:45.322 --> 00:13:04.101
And I feel like there's a couple ounces of this, both with the Titanic and the submarine, linking back to our theme here today of really stretching for that dream, really pushing that vision.

00:13:04.101 --> 00:13:06.648
So it becomes like this irresistible gravity from all people becomes popular.

00:13:06.648 --> 00:13:16.822
But it was also too big of a step too soon, and people do this in business all the time, and that's why 80 are failing right.

00:13:16.822 --> 00:13:17.844
Generally speaking.

00:13:17.844 --> 00:13:29.787
If we don't have that plan in place, if we don't have a proven procedure, if we don't have a little guidance and you haven't done it before, how do you expect to just get it right with this big, stretchy goal?

00:13:29.787 --> 00:13:33.318
And a perfect parallel to this is like pool.

00:13:33.318 --> 00:13:34.221
You ever play pool.

00:13:34.221 --> 00:13:37.629
You a pool shark, joe, not a shark, but I love billiards.

00:13:37.629 --> 00:13:39.793
Okay, I've done a little myself.

00:13:39.793 --> 00:13:50.942
Here's the thing I'm like dangerous at pool to myself, because I know enough to think a play forward strategy, and that's what we're getting into here.

00:13:50.942 --> 00:13:55.030
You ever plan two or three shots ahead and then miss the first shot.

00:13:55.030 --> 00:13:57.844
Yep, doesn't that suck?

00:13:58.585 --> 00:14:00.328
invest even worse when you scratch at it.

00:14:00.870 --> 00:14:03.663
Thinking about oh, how good it's going to be to reach that level.

00:14:03.663 --> 00:14:07.392
But then you trip on the speed bump right in front of you.

00:14:08.700 --> 00:14:09.120
Exactly.

00:14:10.102 --> 00:14:12.067
It's kind of a perfect metaphor for this, isn't it?

00:14:13.090 --> 00:14:13.671
I really agree.

00:14:13.671 --> 00:14:20.043
I was going to say so many people think, as they're trying to do this, they don't realize that doing that is what's actually going to cause them to trip.

00:14:20.745 --> 00:14:23.152
And here's a recent example from the electrical world.

00:14:23.152 --> 00:14:38.249
Right Just recently we had a chat with with an individual who's looking at rebranding and was kind of doing a this verse that with specifically electrical or home services, because one day we want to have this division too.

00:14:38.249 --> 00:14:52.389
That's a perfect example of playing it too far forward and missing the first shot, because all of a sudden the people who reach out to you aren't entirely clear on what it is you do like.

00:14:52.389 --> 00:14:59.008
How problematic would it be to start getting hvc or or plumbing calls when you're not getting enough electrical calls?

00:14:59.970 --> 00:15:01.854
yeah, I, I mean I get that a lot of times.

00:15:01.854 --> 00:15:05.129
Some people used to call us from the utility company, thinking that we worked for the utility.

00:15:05.129 --> 00:15:08.889
So sometimes the brand is really, really important to have.

00:15:09.721 --> 00:15:12.149
Or that you're related to Tom Brady in your case.

00:15:13.960 --> 00:15:15.245
Yeah, I was going to say that happened.

00:15:15.245 --> 00:15:19.404
I did always appreciate when they won the Super Bowl because then there was always some brand recognition.

00:15:19.404 --> 00:15:22.663
But neither here nor there, neither here nor there.

00:15:23.519 --> 00:15:28.171
There was actually one other situation and one other lesson that I wanted to talk about that we can learn from this.

00:15:28.171 --> 00:15:29.312
Is it okay if I jump into that?

00:15:29.312 --> 00:15:41.249
So the second fact is, if the first was people saying, well, why didn't you donate to charity, I want to speak to the other side of it and say they didn't have to.

00:15:41.249 --> 00:15:52.426
But the thing was how many of us can understand the amount of wealth that is required to say I'm going to spend a quarter million dollars on a three-hour event.

00:15:52.426 --> 00:16:08.231
That amount of money exists and for a lot of us we tend to believe that it is someone else, some sultan, some person, some authority figure that is not someone that we would normally interact with.

00:16:08.231 --> 00:16:22.408
The problem is is that when you maintain that belief that not everyone has a certain amount of money, or that, if they do, they have to look a certain way, you'll often limit the amount of options you're willing to offer that kind of person.

00:16:22.408 --> 00:16:27.831
You'll offer what you believe is within their means to avoid you getting checked.

00:16:27.831 --> 00:16:30.625
When they say that's ridiculous, there's no way I can swing that.

00:16:30.625 --> 00:16:49.913
The thing to remember is that you don't know the person who's driving an 85 Camaro but turns out to also be wearing plaid shorts that he's worn for the past 18 years, could be having $6 million in an account and just lives frugally.

00:16:49.913 --> 00:16:51.785
We don't know.

00:16:51.785 --> 00:17:14.271
So the thing is is that, no matter what happens, you can plan to meet someone who has all of their financial future secured but doesn't look the part, and you would never know what's available and what you could have offered if you don't offer it.

00:17:15.593 --> 00:17:30.644
In addition to offering tithes, in addition to offering your line item charities, is to say never judge anyone to an extent where you say they can't afford this.

00:17:30.644 --> 00:17:33.531
I'm certain they can't have it, because there's no way you know, there is no possible way you would know.

00:17:33.531 --> 00:17:36.163
And what's the real disservice?

00:17:36.163 --> 00:17:42.795
To be the person who never actually shows up, to be the person that won't offer it.

00:17:42.795 --> 00:17:45.707
You're the one they're going to have to say he never offered it.

00:17:45.707 --> 00:17:48.241
I had to get the best of what they offered.

00:17:48.241 --> 00:17:53.381
I feel like that would be the truest disservice you could ever be as a premium service provider.

00:17:54.522 --> 00:17:58.128
Yeah, definitely, and you know I'm a fan of VIP offers.

00:17:58.128 --> 00:17:59.770
I think it's.

00:17:59.770 --> 00:18:01.954
Let's forget electrical for a moment.

00:18:01.954 --> 00:18:03.864
No, I'm going to retract that, joe.

00:18:03.864 --> 00:18:04.486
Too many people are-.

00:18:04.506 --> 00:18:10.335
Yeah, I was going to say I was like hard pause, that's not something we do here we don't forget electrical, but speak to in a generalist nature.

00:18:10.355 --> 00:18:26.166
I'll speak to every service business right now for a moment, from chiropractors to dentists, to doctors to electricians, plumbers, carpenters, anyone.

00:18:26.166 --> 00:18:27.009
What is the vip offer?

00:18:27.009 --> 00:18:42.554
If you're not offering something that's out of reach, that puts a ton of new cash in your pocket right, creates new potential for your business, if you're not offering that, no one's gonna buy it, and the reality is somewhere around 10 of the time you could sell those offers.

00:18:42.554 --> 00:18:55.703
I've seen um chiropractic clinics incorporate a massage therapist and then sell a group package for ten thousand dollars when everyone else is working.

00:18:55.703 --> 00:19:05.201
40, 50, 60 bucks an hour, 100 bucks an hour chiropractic appointments wow, right, it's an electrician.

00:19:05.201 --> 00:19:22.395
That's the equivalent of what we teach put six options out and build a platinum option that's almost out of reach for most, but stack it so much with value that maybe one in 10 see that and decide to swipe.

00:19:23.901 --> 00:19:24.765
Can I touch on that for a moment?

00:19:24.765 --> 00:19:28.528
Yeah, do it To give you guys perspective of what we're talking about here.

00:19:28.528 --> 00:19:32.351
Can I give you like a scenario of what that reach might look like?

00:19:32.351 --> 00:19:33.624
Wouldn't be mad if you did.

00:19:33.624 --> 00:19:37.609
Okay, the typical sub pump call that you get right.

00:19:38.241 --> 00:19:49.728
Every single person in the world knows that when your sub pump doesn't work, people need it and for a lot of us it could be a situation where the line is down or the breaker tripped or the GFI tripped.

00:19:49.728 --> 00:19:53.980
Now also, all of us agree that that should have some sort of backup.

00:19:53.980 --> 00:19:59.049
So you have your UPSs, your uninterruptible power sources.

00:19:59.049 --> 00:20:00.874
Some people say you know what?

00:20:00.874 --> 00:20:03.644
I'm going to put a portable interlock in.

00:20:03.644 --> 00:20:06.451
Some say I'm going to include the generator with it.

00:20:07.292 --> 00:20:15.941
But would it not be the finest level of service to say for this option, I'm including an automatic standby backup system.

00:20:15.941 --> 00:20:33.122
That way, when you leave because I know that you like to take trips you'll never have to worry about it, so much so that I'm installing a built-in outlet that can send you an email if you ever lost power, and we're going to have a UPS backing this up in addition to it in case the generator fails.

00:20:33.122 --> 00:20:38.941
Now you can take your trips and never have to worry about coming home to the basement flooding like I used to.

00:20:38.941 --> 00:20:58.296
That's an offer that no one would ever reasonably expect you to take, but because you found the emotional reason of why you're able to offer it with good conscience and newsflash for you, there's no possible way you could ever have sold it if you didn't offer it.

00:20:59.557 --> 00:21:09.064
So just in those circumstances, it applies, and guess what, nine times out of 10, we're going to say no thanks, not interested in that.

00:21:09.064 --> 00:21:10.727
Okay, great, I can't blame you.

00:21:10.747 --> 00:21:11.247
What'd you lose?

00:21:12.690 --> 00:21:18.684
But one in 10, even if it's one in 12, one in 15, isn't it worth selling that package?

00:21:18.684 --> 00:21:22.773
Isn't it worth that extra effort, that extra work?

00:21:22.773 --> 00:21:35.767
In fact, I just told someone on a call this morning and you know how this happens, joe, we speak a lot, right, we're here every day, we're talking and as we're on these calls, as we're on these podcasts, sometimes we learn something.

00:21:35.767 --> 00:21:48.492
There's a new tweak of knowledge, a new perspective, and I recognized just this morning that in many ways, we train for the no, we're training around.

00:21:48.492 --> 00:21:53.040
That no, I know, is like a buoy in the water.

00:21:53.040 --> 00:22:00.952
It lets us know where we're at, it lets us know what to do next, what the response is.

00:22:00.952 --> 00:22:02.355
Does that make sense?

00:22:03.500 --> 00:22:07.290
It actually really does, because for some people they might be like the buoy.

00:22:07.290 --> 00:22:15.705
No, the buoy is not the no, but it actually is, because you only have two outcomes in life Either I'm winning or I'm learning how to win.

00:22:15.705 --> 00:22:24.667
I'll take a no and then say there's things like okay, I really appreciate you letting me know that you know how hard it is sometimes to get people to tell me no.

00:22:24.667 --> 00:22:29.519
If you don't mind me asking what have I done to make you feel so comfortable that you're willing to be honest with me?

00:22:30.962 --> 00:22:31.183
Yeah.

00:22:31.724 --> 00:22:33.407
Wouldn't that be worth finding out?

00:22:34.450 --> 00:22:38.462
Definitely, and I'll stretch it a step further Training for the no, I mean.

00:22:38.462 --> 00:22:43.271
What happens after we get to 85% conversions consistently?

00:22:43.271 --> 00:22:43.712
Then what?

00:22:45.056 --> 00:22:45.757
Realistically.

00:22:45.757 --> 00:22:48.021
You never want to be over that percentage.

00:22:48.021 --> 00:22:51.173
I want to have a hard cut at 80%.

00:22:51.173 --> 00:22:53.160
You're closing more than 80% of your jobs.

00:22:53.160 --> 00:22:59.411
There is something wrong, either that you're not putting your packages at enough of a premium.

00:22:59.411 --> 00:23:05.000
You're not putting your packages at enough of a premium or your rates need to be increased.

00:23:05.000 --> 00:23:13.536
So by training for a no, not only can you often find a yes, but you'll know when to turn that valve up and down, according to the season time and requirements 100%.

00:23:13.696 --> 00:23:19.248
If you really think about that, once you exceed 80%, we're looking for no's again.

00:23:19.248 --> 00:23:23.494
We're trying to get it back down and there's only a couple of ways to do that.

00:23:23.494 --> 00:23:38.631
Maybe off topic, but I mean this little rabbit hole I think is really powerful, joe, because what happens is when people train for yes, that's what intuition wants us to do, and when you train for yes, you become a yes man.

00:23:38.631 --> 00:23:42.285
You build options for yes Platinum's in reach.

00:23:42.285 --> 00:23:50.491
All of a sudden, everyone wants a platinum and all you want is yeses and your conversion rate goes 90, 95, 100%.

00:23:50.491 --> 00:23:54.164
No one says no to me and that feels good because I'm protected.

00:23:54.164 --> 00:23:56.069
Ego is in check.

00:23:56.069 --> 00:23:59.788
Yep, right, that's all anyone wants is yeses.

00:23:59.788 --> 00:24:05.663
Wouldn't training for no be a little more powerful than that?

00:24:05.663 --> 00:24:07.788
I'm looking for 20 knows.

00:24:07.788 --> 00:24:12.397
If I don't, if I don't actually achieve 20 knows, I'm doing something wrong.

00:24:12.397 --> 00:24:15.805
Okay, we got 40% nose.

00:24:15.805 --> 00:24:17.067
Well, that's too much.

00:24:17.067 --> 00:24:18.691
Let's tweak it a bit.

00:24:18.691 --> 00:24:19.653
Let's get her nose down.

00:24:19.653 --> 00:24:22.403
It's making sense, joe.

00:24:23.106 --> 00:24:30.229
I'm loving this and I love the fact that you're carrying it in a way that just makes a lot of sense, and that's I really do appreciate that.

00:24:30.229 --> 00:24:31.883
You always bring a different level of perspective.

00:24:31.883 --> 00:24:33.126
We can bounce ideas off each other.

00:24:33.969 --> 00:24:36.423
Very important stuff, okay, titanic stuff.

00:24:36.423 --> 00:24:37.625
Do we get it all all out?

00:24:37.625 --> 00:24:41.143
Is there anything left to relate to the titanic here in this episode?

00:24:42.766 --> 00:24:45.029
I mean other than titanic 2?

00:24:45.029 --> 00:24:45.892
Rich people zero.

00:24:45.892 --> 00:24:55.534
I mean like at a certain point we've done everything we can yeah, yeah, definitely I there are.

00:24:55.574 --> 00:24:55.974
let me try.

00:24:55.974 --> 00:24:56.602
I'll reach for one more.

00:24:56.602 --> 00:24:58.534
There's definitely icebergs out there, right, okay, there are, let me try, I'll reach for one more.

00:24:58.534 --> 00:25:02.085
There's definitely icebergs out there, ooh, right, okay.

00:25:02.305 --> 00:25:04.130
There are things that are going to get in our way.

00:25:04.130 --> 00:25:05.332
They're going to challenge us.

00:25:05.332 --> 00:25:14.586
I think that's a big reason why a lot of our clients it's not just the process that they come for, it's the support along the way.

00:25:14.586 --> 00:25:26.559
In fact, we've realized through our trainings that typically we average about two to three problems solved before we truly have that breakthrough in a relationship with a client.

00:25:26.559 --> 00:25:28.765
Have you noticed that as well?

00:25:28.765 --> 00:25:37.710
There's always a couple challenges along the way, but after we solve, after we get around those icebergs, that's really what develops the trust.

00:25:37.710 --> 00:25:51.218
And people tend to really get devoted at that point and realize, okay, I'm protected here, I'm safe here, people can help me through this I have a very specific situation that can help with this all right, let's hit it.

00:25:51.278 --> 00:25:54.046
We got about five minutes left here all right, I'll make it.

00:25:54.066 --> 00:25:54.586
I'll make it quick.

00:25:54.586 --> 00:26:00.311
So I remember I went to a call once where the customer she was just giving me nothing.

00:26:00.311 --> 00:26:01.174
You know what you're talking about.

00:26:01.174 --> 00:26:16.026
This was a clear iceberg situation Not happy, not enthusiastic, getting almost no commitments across the call, and what ended up happening was we're talking, we're trying to bond, I'm reaching for anything that this person's going to give me, ended up getting nothing.

00:26:16.827 --> 00:26:24.750
We go into a room and you can tell she stomps and she just looks and she gets like this sense of visible sadness.

00:26:24.750 --> 00:26:30.969
It's very changed in the demeanor Because previously she was pissed, now she's sad.

00:26:30.969 --> 00:26:36.685
And I was like, hey, if you don't want me asking, just pause here.

00:26:36.685 --> 00:26:39.092
Is there anything that changed?

00:26:39.092 --> 00:26:43.131
Is there anything particular about this room that you feel is why we need to get this work done?

00:26:43.131 --> 00:27:03.364
And she paused and she's like well, unfortunately, my son actually passed away from an overdose and this was his room and I always keep the light on and the light doesn't work now and I want it back on, ouch, and the fact was she was so upset because I thought she was just being rude.

00:27:04.606 --> 00:27:15.020
She was upset because she wanted to pay homage to her son who had passed away and always keep the light on for him, and because the circuit had issues, the light wasn't working.

00:27:15.020 --> 00:27:31.701
And when we broached that particular connection the why met the how it really did it was along the lines of I'm sorry you're in that situation, but I know that your family was lucky to have someone like you to keep that memory alive throughout the years.

00:27:31.701 --> 00:27:42.568
And she broke down and ended up giving us the job, but from a place of not pushing, but just because we were willing to step back and say I'm willing to learn and I'm willing to look back.

00:27:42.568 --> 00:27:45.625
So I felt like that was relevant to the situation.

00:27:46.028 --> 00:27:46.912
No, I love that.

00:27:46.912 --> 00:28:03.432
Now I want to relate to that in the few moments we have and just say, if you recall, not long ago we had a call with one of our clients where they brought up this conflict of a father had passed away and they had helped wire this home but, it wasn't meeting code.

00:28:04.320 --> 00:28:22.022
There were safety violations and that whole thing about trying to breach through that emotional value to get to bringing safety up, bringing it to code and still contributing to the memory of that father in that home, and that was a really grave situation as well.

00:28:22.765 --> 00:28:27.721
um, no pun intended yeah, I was gonna say I was gonna do you intend on saying the word grave on that?

00:28:27.741 --> 00:28:29.005
no, no, that was bad.

00:28:29.005 --> 00:28:32.313
If you're laughing, I'm sorry, if you're not, I'm sorry anyways.

00:28:32.313 --> 00:28:33.922
Ouch, that was a bad one.

00:28:33.922 --> 00:28:39.269
So anyway, uh, relating to that working around those icebergs, but yeah, it tends to be a couple problems.

00:28:39.269 --> 00:28:45.859
Once we solve that, we really do develop a long-standing, full, trusting relationships.

00:28:45.859 --> 00:28:51.593
So, joe, what can we do for action items on this one to help people with a few takeaways we've had?

00:28:51.593 --> 00:28:54.625
And would you like the action or the all-star?

00:28:55.387 --> 00:28:59.422
I'll take, take either one, but I could think of one off the top of my head, so let me take the first crack.

00:29:00.303 --> 00:29:00.944
Yeah, let's go.

00:29:01.605 --> 00:29:01.826
All right.

00:29:01.826 --> 00:29:03.890
So for the action.

00:29:03.890 --> 00:29:16.412
It sounds silly, but it goes back to what we originally started talking about, which was where you had two sides both talking about the same thing, but they had two different reasons to be there.

00:29:16.412 --> 00:29:20.482
One was saying you never should have gone down, it's a ridiculous waste of money.

00:29:20.482 --> 00:29:27.051
The other way of saying it's so bad that you guys ended up passing away, but they're both saying the amount of money spent was ridiculous.

00:29:27.051 --> 00:29:40.480
Instead, my first action assignment is to say you don't get to control or choose how someone spends their money, not on their leisure and not in their options.

00:29:40.480 --> 00:29:43.326
That's why we offer six.

00:29:43.326 --> 00:29:50.948
We offer the ranges from the finest money can buy to the most bandaid frankenfix cobbled thing I can come up with.

00:29:50.948 --> 00:30:01.173
They're going to see the full spread and no matter what house they're in, no matter what car they drive, no matter what they're wearing, you should never judge whichever level they choose to purchase.

00:30:01.173 --> 00:30:06.548
At the bare minimum, it's not being in a place of judgment.

00:30:06.548 --> 00:30:07.510
Would that be fair?

00:30:07.530 --> 00:30:22.945
100%, and I'm just going to stack on the options, then, and really put emphasis on this platinum, this VIP offer, vip offer, and to just wrap your head around and allow yourself to experience this.

00:30:22.945 --> 00:30:23.708
I really want you to craft an offer.

00:30:23.708 --> 00:30:24.952
Just think about platinum for a second.

00:30:24.952 --> 00:30:28.323
Utilize the situation Joe mentioned earlier with the sump pump.

00:30:28.323 --> 00:30:29.586
Think about that.

00:30:29.586 --> 00:30:31.450
What else could you add to that?

00:30:31.450 --> 00:30:34.384
I mean, build something outlandish for a minute.

00:30:34.726 --> 00:30:54.863
Then I want to challenge you to take that outlandish offer and try to match the value to it by increasing warranties, by offering club memberships, by giving all the reasons why that's going to save them the inconvenience of time or effort and sacrifice, or by the ways it's going to improve the quality of their life.

00:30:54.863 --> 00:31:15.673
Really spend some time on this VIP offer piece, because if you're offering that and you get this to a point where one in ten take it, wow, you're running a different business now, and not only are the people in your company going to be looking at you like whoa, how are we even doing this?

00:31:15.673 --> 00:31:22.946
But the ones outside your company are going to be definitely fiending for a bit of knowledge of what's happening inside there.

00:31:22.946 --> 00:31:24.503
It's an incredible thing.

00:31:24.503 --> 00:31:29.347
Okay then, joe, this has been another episode of Electricpreneur Secrets.

00:31:29.347 --> 00:31:37.890
I cannot wait to see you guys again tomorrow as we help you master sales, simplify pricing and deliver premium level electrical service.

00:31:37.890 --> 00:31:39.528
Have a great day, you guys.

00:31:40.232 --> 00:31:40.696
Take care all.

Replay - Electrical Business Lessons From the Titanic

Listen On

Recent Episodes