Replay - Price Objection Beatdown

Transcript

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hello, hello, hello, welcome back.

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It's another fantastic friday.

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Joe, I am pumped to be here.

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Just a couple of master electricians with business addictions coming here to help you five days a week, master your sales, simplify your pricing and deliver premium level electrical service.

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On the electricpreneur secrets podcast.

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I am so, and there's something that keeps happening, joe, I need to share with you.

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Just quick, by all means, go ahead.

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You know how.

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Sometimes we say there's going to be a test.

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We're going to ask you what I say on every episode.

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Sometimes it feels like I'm failing that test, but recently there's been an answer on that test that makes me laugh every time.

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Oh, please tell me, what is it I ask him you know what I say?

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Do you remember what I say at the beginning of every episode?

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and they go hello hello, hello oh my god, that's the thing that sticks that's what's, yeah, that's what sticks.

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So I guess that's the thing.

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That's the first thing you hear when you listen, and so it's really echoing.

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I'm hoping people aren't hearing that when they wake up first thing in the morning.

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But hey, I can't control that.

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Wakey, wakey eggs and bakey Got it, no problem, let's rock and roll.

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Oh, man, and as the weekend's coming up, I mean we've kind of covered this TGIF problem before.

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I try to appreciate every day, but we were just talking about some stuff behind the scenes that I felt warranted being talked about.

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Live as well, and that's your pure enjoyment of the back country, right?

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Yes?

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yeah, I was gonna say surprising that some people, you know, didn't know that about me.

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But I really really really like just being dropped off in the woods, like it's a weird thing.

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But like, um, I grew up in a little bit more rural, it's like wasn't rural, but at the time it wasn't developed.

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So there was all this like like private reserve property and state land and as a kid I would just go, I would just literally just go out into the woods until my parents would eventually call but like different world.

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Now right different world.

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Yeah, it's, you know it's over the 90s.

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Like what are you gonna do?

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But like I love it, I love it and I can't wait to come up to canada and just be just out there with you.

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Man, it's gonna be great oh man, we got some stuff that'll blow your top off.

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I'm the same way as you can imagine.

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There's canadians who aren't I don't really understand it but there's a lot of people who do not get this whole thing.

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That we're like a massive land mass with a pretty small population.

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Really, I think every canadian's got something like uh, we measure in kilometers here, but probably something like two square miles per person in this country.

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It's crazy that's a solid deal.

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I mean I would love to not be around as many people so like if there was a way that we could have more land and less people with it.

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Oh, like that's the dream Cause I can imagine.

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It's quiet, it's serene, it's not trashed.

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You know, people take care of the property.

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That's nothing's worse than going to beautiful land and seeing a nice scenic waterfall.

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And like going deep into the woods and then find like an old car You're like come on, who did this?

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Well, well, if we had a country with just electricians in it, it would probably have a pretty low gdp because of these price objections you're setting me up on this one deep down I do want to say man, I love the back country and, quite honestly, as business owners we tend to neglect those needs, but I consider it a need.

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In fact, the other day I even had an epiphany that was like it might be time to go to the ocean again.

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It's just been.

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It's been a minute.

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You know what I mean.

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There's something soothing about just the endless tide and the horizon out there.

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You ever feel that way.

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Actually, yeah, I have a very specific view about the ocean, if you don't mind me touching on it quick.

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Um, the ocean is healing, the ocean is constant, the ocean is stable.

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I go to the ocean to center.

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Um, I love doing yoga on the beach.

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I love waking up and doing morning meditations and doing prayer at the beach and like really just acknowledging what's there and it's a beautiful thing.

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But also the salt water itself is very healing for the body.

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So, like I, I love going and just submersing in the water, just sitting there and knowing that any kind of ailments I have, like cuts and bruises and scrapes, are going to get healed up, and antibacterial features as well.

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It's really cool.

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It's just the ocean's an amazing thing.

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Absolutely.

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Man Couldn't agree more, and I love the river and stream fishing.

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That's my, that's my jam right there, but it's been years since I've really gone and done it.

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So tsk, tsk, I gotta shape up and get that going.

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We were talking a bit about that.

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Would it be wrong of us to share that with all of our viewers and listeners, to maybe encourage them to go and do a bit of the same by all?

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means I mean, hey, and we'll get more people in the bush.

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I can't see that being a problem.

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I mean, right now I'm just happy because I can see now.

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So I'm just happy, man looking fresh, brother, looking fresh, thank you, and you're not crying I know, right, it's like one of those crazy things where people like why are you tearing up?

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It's like I, I swear to god I'm not being emotional.

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Oh, I am emotional, but it's that literally the way my eyes are set up.

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If I stare at a screen too long, my eyes water.

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But now I've got like these super glasses that'll filter everything out and can actually see the way I need to see.

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So it's great.

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Well, brother, I got to let you know Gary fan is with us, live in the entrepreneur secrets group.

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He says we should stop bragging about Canada and how beautiful it is Secrets Group.

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He says we should stop bragging about Canada and how beautiful it is.

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So we're going to go ahead and do that and move on to the topic.

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A little more price objection beat down today, joe, I think it's important to finish the week pretty strong, because we've talked pretty deep on a lot of the pieces but we haven't really been able to bring it all together Like the value piece that we started putting out there on Wednesday.

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Guys, today's your final call.

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If you want to grab that, find us on our website, serviceloopelectricalcom.

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You can reach us there or on our Facebook groups the best place to grab that.

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It may even be emailed to our fan club on the emails.

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So if that's something you guys want to be a part of, absolutely reach out.

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We're going to help you with this, all of that and more, and continue to do this week after week.

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So get in touch.

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We're here to serve you and, again, help you master sales, simplify pricing and deliver premium level electrical service.

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Joe, can we just role play this and then break it up?

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Sure Good.

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All right, man Listen.

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Joe, I appreciate that you have all the options and everything you've done here, but I just called for this ceiling fan.

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It's not working.

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There's something wrong with the switch and I just am having trouble understanding why that is going to cost me, at the lowest option you've presented, $350.

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I completely understand where you're coming from, clay, and the first thing I just want to address is that if I've given you the impression that you're just paying for that particular device, then I've let you down, because 100% of what you're paying for is our service, and that service comes before, during and after every time we serve you.

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Can I explain a little more of what that actually means?

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Or would you like to know why so many other customers still choose to use us, even if we're more of an investment?

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Yeah, please do.

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Okay, so let's talk about the first time that you ever gave us a call.

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When you called us, what was that experience like talking to the office?

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It was pleasant, it was good, they were nice.

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What?

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was that experience?

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Like talking to the office.

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It was pleasant, it was good, they were nice, awesome.

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Well, let's talk about the reason why what we do is, rather than hire some high school kid or someone who doesn't have a ton of customer service experience, or even get an automated robot service, we have a trained professional behind the phone who knows how to connect you with the proper schedule and with the right technician.

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We have open and later hours to where we can make sure that you're not waiting on standby or constantly on hold.

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Now, obviously, it would cost less if we didn't provide you that service.

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First off, is it wrong for us to want to provide you a better level experience?

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Well, no, I mean the other companies I called didn't call back or didn't answer or put me on hold and infinitely.

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So it was helpful to be able to get to talk to someone.

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I get that.

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So that's the first thing.

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Obviously, you know you're getting a better front end experience from beginning to end.

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The second thing, then, is the during.

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We came here and we didn't just focus on the one thing you called us for.

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We focused on the entire system infrastructurally as a whole, because, if you think about it, you want your fan installed right, but if I were to connect to something that had a safety concern down the line, would it be wrong?

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We don't at least want to tell you about it.

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No, and ultimately I don't want to have to have you back or have the same problem again.

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Correct.

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So what we did when we were here was we looked at everything as a whole, not only what you asked for, but what directly connects to it.

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That way, when we actually give you a price, we can stand behind it and guarantee it.

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But even more so, we didn't just give you a price.

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We sat down and engineered a complete range of options, from the finest money can buy to the most bare bones you can possibly have.

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We did this so you can have more control and better availability on what you have.

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Was it wrong of me to want to give you that kind of control?

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No, no, like I said, we did appreciate the options.

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Again, it was just the bottom price that was shocking to us, and definitely more than we anticipated.

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And I hear you.

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The thing is is it goes even beyond that.

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While we're working together, it's not just what we're doing now.

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We also serve you after we've worked together, meaning after we've installed the ceiling fan for you and we put everything into what you want.

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If there was ever a problem, would you want to have to pay again for us to come back out?

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No, definitely not, Not with work that you provided.

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Yeah.

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So the thing is, we actually go and offer a lifetime craftsmanship guarantee, meaning that what we're going to do is I am so confident in the workmanship that we're going to put in that you'll never have to call me back, and if there was ever an opportunity that I had to, we would 100% cover what the thing was.

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That's because we are known to be trained at the highest level, and that's the exact level we want to serve you at.

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So, realistically, what you're paying for isn't just that.

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You're paying for the experience before, during and after, because we refuse to cut corners on quality, reliability and customer service.

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So, to sum all this up, what I'm trying to ask is this Because we wanted to offer you this level of service, we felt that you deserved it.

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Because we felt you deserved it, there has to be a certain price point to deliver that service, and that means that's more of an investment than someone who's willing to cut those corners.

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Was it wrong for us to not be willing to cut those corners?

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No, no, I get what you're trying to do here, Joe.

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Okay, so how would you like to proceed?

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Well, you're here and maybe I'll take the the I guess.

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Okay, you're going to try and say, I guess, well, well, clay, I really appreciate you saying that and, trust me, I am honored to work with you.

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But I do have one concern with this, and that is you said I guess I'll work with you.

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I don't want to have a relationship with someone who's not fully committed to having a relationship with me, and what that means is this is that if you feel like you can only guess about working with us, then we probably shouldn't be working together, because I only want to work with someone who's a hundred percent satisfied with what we're doing.

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So let's figure this out Either a can we discuss what it's going to take to make you a hundred percent satisfied, or can we discuss on how we should part as friends.

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No, you were actually right, joe.

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I was using loose language, but but I do want to use you.

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Okay, Now you don't mind me asking why are you so insistent on using us?

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I mean, when we first started talking, you were telling us that you were worried about the price.

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What's changed since then?

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Well, I definitely.

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Since you explained it, I do feel like I'm going to get everything we need here and without any problems, and that's pretty important to me because I'm a busy person.

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And you know what we want to design options to make sure we respect that time as well.

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So which one of these?

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choices.

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Did you want to do Just the basic?

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Let's stay small.

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That's a great choice.

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I'm happy to help you with that.

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Let's see what we can do to get this taken care of for you, okay.

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All right, so out of character, I know we did a, we did a curve ball there.

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Yeah, you just literally jumped right into it.

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Wednesday I was trying to be an asshole, but today I really wanted to hit the I guess as well.

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Can we just talk about that and break out the I guess first?

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We'll start at the end and why that was so important for you not to just take at that point and do the exchange.

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Okay.

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The reason why I guess is so dangerous is because if you really look at the words and you understand, it's not just what your client is telling you, it's what are they really saying.

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When someone says I guess I have to do this, they don't say that from a volition point.

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That's not like a oh, I am so excited to work with you.

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It's like a if, I guess I have to work with you.

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Now, if someone feels like they're compelled to the point where they have to like they don't have another choice, but they're not comfortable, they don't really want to, but this is the choice, they'll say something like I guess, but that same person, if given the opportunity to cancel with you to go with someone else that they do like, will do so.

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So the I guess is an indicator that they're truly not convinced and that you don't really have the sale, even if they're swiping their card.

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So I used it more as a way of saying that's a flag.

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Here there's a problem that they're trying to communicate, even if they don't realize they're communicating it.

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So what I like to do is back it up and say, well, hold on for a second, I just want to make sure we're on the same page you had said I guess I'll work with you.

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I don't want to work with someone unless they're fully committed to working with us, and you can even go, depending on how they say it.

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You can be like can you explain a little bit more of what your hesitation might be, because I don't want to take your money and make you feel like you're just making an unequal exchange, like I want you to be happy with what we're doing, otherwise we probably shouldn't do it.

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The benefit of that is it's actually a pull.

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You're telling the customer that I want to work with you but I'm not going to if you're not fully satisfied.

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Yeah, Either a they'll change their tone and be like no, no, no, no, I'm happy, I want this.

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I was just, I misspoke, I'm sorry, or they'll specify what's going on.

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Well, you know, joe, I want to work with you, but it's still a lot more than I thought it was going to be.

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Like $400 for a fan.

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Like I just I didn't think it was going to be that the fan was 200 bucks.

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I was told double that it should be.

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You know, okay, I thought it's $400 in total.

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I don't have $600 for this.

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I'm like okay, well, let's come up with a more economical option, because if I do this for you and you're not happy before it's even installed, what are the odds you'll be happy when it's done.

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What are the odds you'll be happy when you're handing me the check at the end.

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Is it wrong for me to want to prioritize your happiness in this?

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That's the real angle to go for, and I think your customer would see it as well.

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It became a commitment.

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It was a half-ass commitment and you forced it back into I shouldn't say force, but you, you didn't settle for a half-ass commitment.

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You, you sat there in the ridiculous, as we've said so many times to make sure this went to the place that they were making a decision and you weren't forcing their hand in any way, shape or form.

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And then they still have the options, the power.

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Here, though, still kind of ties to that value driver equation, and this originally came from, essentially, Alex Hormozy's book, 100 Million Dollar Offers.

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But I love this equation and something that we reference often is on the bottom side of this equation are two things that we're trying to reduce at all times, and that's time, delay and effort and sacrifice.

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So, while I can even appreciate that, absolutely your basic option is often much bigger than they were imagining, especially on a demand call out.

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Yeah, very rarely is someone saying like, yeah, you have one GFI that's tripped in my bathroom, that just you know.

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It's just weird.

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It just doesn't want to reset.

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They're not expecting a $600 bill Like there's no way they were expecting that.

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But at the same time, when you communicate why it is what it is, as well as what they're really going to receive from it, that's great.

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But we can't settle Like you're right.

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We have to stretch it to the ridiculous and be like this is what you want.

00:16:32.275 --> 00:16:36.798
I want to help you get there, but I don't want to take your money.

00:16:36.798 --> 00:16:39.616
If you feel like this is an unequal exchange right now.

00:16:40.679 --> 00:16:43.658
Absolutely, and we haven't really said it enough this week.

00:16:43.658 --> 00:16:46.937
But also, like STYO, stick to your offer.

00:16:46.937 --> 00:16:49.019
You can't settle either.

00:16:49.019 --> 00:16:52.836
Yeah, discounting this call is not appropriate.

00:16:52.836 --> 00:17:03.676
That's not a solution that's long-term and sustainable, and that's why this week has been maybe one of the most important weeks we've ever done on this podcast to really try to help electricians with this.

00:17:04.116 --> 00:17:18.373
Because if that's the common case on a demand call and you're priced right and your offers set up right, then you're going to be more expensive than they think and that means likely you're going to face this very objection 10 plus times a week.

00:17:18.373 --> 00:17:22.747
And if your team's larger, maybe two, three, four times that.

00:17:22.747 --> 00:17:28.877
So shouldn't we have this on on autopilot, on speed dial dial?

00:17:28.877 --> 00:18:00.711
Then shouldn't we be saying this to ourselves every day in the van on the way to the customer's house, reviewing the offer, knowing it, checking your team on it, just throwing out objections to your team at random several times a week to make sure that not just the sales team gets it but even the office administration gets it, so that when someone calls and has a price objection, even on the phone, you can start to, as a team, be unified in your solution or your articulation of that value?

00:18:01.594 --> 00:18:04.767
I love that, and I think we can even stretch it even further.

00:18:04.767 --> 00:18:05.307
Let's.

00:18:05.327 --> 00:18:06.612
Because this is one of those situations.

00:18:06.612 --> 00:18:07.413
Do the ridiculous.

00:18:07.875 --> 00:18:08.336
I know right.

00:18:08.336 --> 00:18:13.409
Well, if you think about this, you mentioned like this is something that their team should know about and you should continually drill it.

00:18:13.409 --> 00:18:21.653
And I think the thing that should be said is we want to serve our clients before, during and after in every possible interaction.

00:18:21.653 --> 00:18:29.056
Because, if you think about it, if they're not served before, the technician shows up less than a 10 out of 10.

00:18:29.056 --> 00:18:34.250
Because they're thinking of the company as a whole, not the individual components of it.

00:18:34.250 --> 00:18:40.280
So if your office didn't give them the best service at the beginning, there's marks off the technician.

00:18:40.280 --> 00:18:44.276
So instead of showing up as a 10 out of 10, the technician shows up as a 7 out of 10.

00:18:45.546 --> 00:18:47.974
Now they've got to build 10 out of 10 value.

00:18:47.974 --> 00:19:07.239
So they actually have to build more value just to get to an even playing field compared to if the office had delivered that amazing experience, they might've been boosted up from what they thought the company would have been, versus lowering it and then later down the line, once the technician delivers his value.

00:19:07.239 --> 00:19:17.809
We need the installers to also be just as communicative, because no one wants the sales guy to come up and then be like, hey, I got the sale, you never see me again.

00:19:17.809 --> 00:19:29.750
The installer should continue that same relationship, and that's what completes the cycle is where the salesperson then comes back and reviews it and I'm so happy there's a lifetime warranty.

00:19:29.750 --> 00:19:33.287
Those things are just essential to taking it to that ridiculous level.

00:19:33.828 --> 00:19:35.714
Yeah, that's on point for sure, man.

00:19:35.714 --> 00:19:41.377
And each of those kind of average out your overall score of the customer experience.

00:19:41.377 --> 00:19:51.173
And I just want to, I'm reminded of and I want to bring forward again like people do do business with people.

00:19:51.173 --> 00:19:52.797
They know, like and trust.

00:19:52.797 --> 00:19:56.417
So if if on that journey they encounter three different people in know, like and trust, I agree.

00:19:56.417 --> 00:20:16.298
So if if on that journey they encounter three different people in this operation and that experience and person one and three they don't actually have any rapport or trust with, that's a problem that's where price of it, you need to hit it off all three need to be in sync, congruent with your offer, right.

00:20:16.444 --> 00:20:20.255
And if you guys, again, if you don't have the value piece, you got to grab this thing.

00:20:20.255 --> 00:20:23.451
That value, offer, price, objection beat down.

00:20:23.451 --> 00:20:29.704
We started giving it away Wednesday, we're finishing giving it away today, but that's going to help you understand.

00:20:29.704 --> 00:20:34.376
We're giving you our SOP for objection handling level one.

00:20:34.376 --> 00:20:50.087
We're giving you a um, our sop, for objection handling level one how to really differentiate the objection from a reaction, because there's differences there that are pointed out, right, very much so, very very much so how to build an irresistible offer that you and your team can get behind in every case.

00:20:50.648 --> 00:20:57.940
And, finally, how to articulate this, just like jo Joe just did, so that it's not so much word for word.

00:20:57.940 --> 00:21:12.595
I'm just going to memorize this line and say it and orchestrate another slimy deal where someone felt tricked into paying our price, but where you and your team actually believe in what you're doing and have annihilated this, obliterated this objection once and for all.

00:21:13.657 --> 00:21:15.109
I mean I can't do better than that.

00:21:15.109 --> 00:21:17.269
That sounds like a straight up golden platter, right there.

00:21:17.891 --> 00:21:21.267
All right, brother, we're actually out of time already, if you can believe that.

00:21:21.267 --> 00:21:22.390
Oh, wow, cool.

00:21:22.390 --> 00:21:27.009
We got to come up with a couple action items and actually, uh, try to finish this week strong.

00:21:27.009 --> 00:21:27.832
Big friday.

00:21:27.832 --> 00:21:35.285
I'm wishing everyone an awesome afternoon and an awesome weekend, but what do you think for a couple of action items on this one, joe?

00:21:35.705 --> 00:21:36.949
I'd be happy to take them if you're willing.

00:21:37.530 --> 00:21:38.854
Let's do it, man, okay.

00:21:39.555 --> 00:21:41.346
So we've gone through a lot of different ways.

00:21:41.346 --> 00:21:43.453
We've gone through a lot of different objection handle techniques.

00:21:43.453 --> 00:21:45.809
This week I want to try and give you something that we haven't before.

00:21:45.809 --> 00:21:53.834
So the most basic that I can possibly suggest is do you know which objections are stumping you?

00:21:53.834 --> 00:22:00.290
The very bare minimum is I know that when I get this objection, I fold.

00:22:00.290 --> 00:22:04.205
Or when I get this objection, I feel like a balloon that's been deflated.

00:22:04.205 --> 00:22:07.073
I'm like oh, they just want me to email it over.

00:22:07.073 --> 00:22:09.117
Oh, they want to talk to their spouse.

00:22:09.345 --> 00:22:11.910
Whatever it is, you have to know what that list is.

00:22:11.910 --> 00:22:22.204
So the bare barest minimum is can you at least produce a list that if you had a coach or a trainer like ourselves, you could say this is what's stumping me?

00:22:22.204 --> 00:22:24.249
That's level one.

00:22:24.249 --> 00:22:32.987
Now level two is not only just understanding what objection, but why and how it makes you feel.

00:22:32.987 --> 00:22:38.097
Now the reason why I want to ask the feel into it is Clay, let me ask you a question.

00:22:38.097 --> 00:22:42.493
Go ahead If I were to come to you and say that we were expensive.

00:22:42.493 --> 00:22:44.892
Right, like you and I run electricity.

00:22:44.892 --> 00:22:49.498
We're both running an electrical company, yep, and we had it set up where.

00:22:49.498 --> 00:22:53.414
I'm your technician and I tell you that we're expensive.

00:22:53.414 --> 00:22:55.471
What does that say about me?

00:22:55.471 --> 00:22:56.906
What does that show about my beliefs?

00:22:58.351 --> 00:23:05.571
That you don't believe in the value we provide or understand the pricing structure and why we're priced that way.

00:23:05.571 --> 00:23:06.654
Correct?

00:23:06.915 --> 00:23:07.297
The offer.

00:23:07.297 --> 00:23:11.548
The third thing could be because people are telling me that we're expensive.

00:23:12.490 --> 00:23:12.730
Yes.

00:23:13.471 --> 00:23:14.654
Yes, you nailed it.

00:23:14.694 --> 00:23:16.038
Yeah, perspective shift.

00:23:16.644 --> 00:23:16.846
Yeah.

00:23:16.846 --> 00:23:21.807
So now we're going into this and saying well, why do I feel like I can't handle this objection?

00:23:21.807 --> 00:23:27.728
The times that we feel we can't handle an objection is usually when we actually believe the objection is truth.

00:23:27.728 --> 00:23:34.138
If you believe your client, you're not going to argue with them because you're both on the same page.

00:23:34.138 --> 00:23:35.232
But if you don't believe your client, you're not going to argue with them because you're both on the same page.

00:23:35.232 --> 00:23:41.727
But if you don't believe your client, it's almost intrinsic that you'd be like wait a second, let's time out here.

00:23:41.747 --> 00:23:42.730
Wait, hold on.

00:23:42.730 --> 00:23:45.557
Did I give you the impression you were paying for parts?

00:23:45.557 --> 00:23:47.067
Wait a second.

00:23:47.067 --> 00:23:52.846
I must've dropped the ball here, cause you see how that just comes naturally out Like cause.

00:23:52.846 --> 00:23:55.329
I believe that I'm not charging you for parts.

00:23:55.329 --> 00:24:01.688
I believe that even if I was $500 an hour, I'm going to find a way to make it valuable at that level.

00:24:01.688 --> 00:24:03.855
I believe in what we're doing.

00:24:03.855 --> 00:24:08.586
So the objections is that, or the assignment, is this bare minimum?

00:24:08.586 --> 00:24:10.569
What objections are you facing?

00:24:10.569 --> 00:24:12.333
Apex level.

00:24:12.333 --> 00:24:16.019
What are you feeling when the client tells you this?

00:24:16.019 --> 00:24:18.788
And let's try to explore why are you feeling it?

00:24:20.592 --> 00:24:25.709
Nice and that's going to lead you to some big root cause shit there, man, and that's going to help massive.

00:24:25.709 --> 00:24:28.856
So I can't blame you for dropping those ones.

00:24:28.856 --> 00:24:30.570
Awesome, awesome, awesome.

00:24:30.570 --> 00:24:33.986
And of course, grabbing that value piece is going to help you guys even further.

00:24:33.986 --> 00:24:39.376
And with that last piece you mentioned on that, perspective shift is absolutely critical.

00:24:39.376 --> 00:24:43.532
We can't start to believe this stuff, guys, but here's what I do believe.

00:24:43.532 --> 00:24:54.016
I believe each and every one of you are going to have a fantastic weekend and come back even stronger next week than you were this week, joe, absolutely.

00:24:54.016 --> 00:24:57.749
Thank you again, man, and let's have a great weekend and we'll see you next week.

00:24:58.310 --> 00:24:59.012
Truly my pleasure.

00:24:59.012 --> 00:25:00.988
I can't wait to see you guys have a wonderful weekend.

00:25:00.988 --> 00:25:02.555
Cheers, bye.

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