I just returned from doing a program for NSA-New England in Boston. What a terrific group! One of the questions posed was “How do you define value?”
I had just said to the group that if a prospect can’t afford your fee use these words…
“If I could do that, what else of value might you be able to offer me?”
Then I suggest you not say a word. Let silence reign if necessary! Wait. Wait to see what your prospect has to say. If the silence is long, expect the prospect to say “What do you want?” Then be ready with an answer!
Value to each of us can be different. You have to define it for yourself. It has much to do with what you may need in your business at the time. Here is a list of what I think may be “value”.
- Referrals. Perhaps it’s having the client offer to make three or four calls on your behalf to contacts they think can use what you do, and have your fee.
- A full paid speech … later. They must commit to booking you for a full paying engagement within a year of the date of the speech you are doing now. (Get it in writing!)
- Recording. Either a video or audio or both! Great video is a plus for promotional purposes, but also may be a product! Same thing with audio. I think live audio makes a terrific product. I like it better than an “in-studio” recorded product. Don’t worry about flubs, people know it’s live and are very forgiving of any flubs.
- Barter. Maybe this company produces something you could use. Think of it as a trade. I’m not a lawyer so I feel compelled to say consult your tax advisor on this one!
- Product, product, product! Can the client purchase some of your products? Books, online training, whatever. The product can also be used as a way to shore up your fee as well. If you don’t have a product yet in your business, get it!
Those are some of my thoughts regarding value. Do you have other ideas? I’d love to hear them!
Lois Creamer. Lois works with professional speakers who want to book more business, make more money and avoid costly mistakes! She can be reached in the following ways:
For more information on Lois’ business check out http://www.bookmorebusiness.com as well as http://www.bookmorebusiness.tv!
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