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One major pain point for speakers and consultants is putting a real dollar value on their services. Businesses and business owners often want us to justify our fees so they, in turn, can justify paying them. The best way to approach this is to think about their problems in terms of time – their time – and use the Value Calculation to give them a concrete number of what it will cost NOT to solve the problem.
What is the value of 10 minutes?
How much is 10 minutes worth to your client? It doesn't seem like very much in the short term, but consider how quickly it adds up over the course of a year. It's lost time your client could have spent not worrying about the problem you can solve, and since you're calculating hours, you can put an actual number to the value you bring.
In addition to the lost time, how much more is spent trying to get back to the original task? Once you've done your job for the client, how will your work continue to benefit the company in time saved? What will it cost the company NOT to solve the problem? Teach your client the value of 10 minutes.
Get the Value Calculator
Is every problem really a time problem?
Short answer, yes. Virtually every problem either affects time directly, or it affects how people USE their time. Time is the way to frame a problem to get the conversation started.
Why should I teach a client the value of 10 minutes?
Because it's very likely they haven't thought of it that way. You might not be a productivity or time management expert, but that doesn't mean you can't use that thinking to open a client's eyes to how much the problem is costing them.
Doesn't this calculation underestimate the true cost of the problem?
Indeed, it does. Using the calculator, the numbers can balloon, especially when you're figuring multiple people. The point is to have a simple, 'back-of-the-napkin' math to open a dialogue with any client.
Recommended Action
Download the free Value Calculator and put it to work. Think about how to include it in a conversation with a potential client and embrace the power of the value of 10 minutes.
Every year of our lives brings with it the opportunity to grow and change, often in small doses at a time. But when you take a moment and look at all of them together, you get a stunning insight on how those small lessons add up to something much bigger and more meaningful. Today, Michael discusses some of the small lessons he learned this year and why they mattered to him.
Our hope is that you can relate to many of these lessons, and more importantly, use them to frame 2018 to be one of the best years of your life. So, take a moment to consider each of these and their place in your life as Michael shares their place in his life. And consider how you can use this information to help YOUR clients.
What are the biggest, overarching lesson Michael learned in 2017? Everything centers around one major idea: go deeper. In all areas of your life, from your own mental process to engaging with and understanding others, plug into the world around you.
Recommended Action
It's time to take what you learned here and in your own 2017 and make a list. What are your most important lessons? What have you learned that has changed your thinking and your life? And finally, what bigger lesson does it point to? What is the theme you want to work on in 2018?
Do you struggle with or worry about communicating your value to your prospects? There's a simple formula to calculate the true cost of the problem you solve – and we've got it broken down for you – download the free Value Calculator worksheet.
The 3D Framework is a big concept that, so when it comes to implementing it on a granular level, where do you start? You start with a question: what's the outcome we want to design? Which brings us to the first D in the framework.
Design
The end game matters, and the very first question you should ask is whether you're the right person to solve the problem. It doesn't do a lot of good to chase jobs for the money, so if the answer is no, walk away. We should spend our time serving where we can do our best work. If the answer is yes, then the second part of design begins. You might be right for the client, but are you right for his or her audience? What do those people think and feel, and how are they positioned in the process? For speakers and consultants, you need to make sure every design decision you make will bring you closer to the outcome, the end game, you have decided on with your client, in relation to the audience. Once you've done this, you can move on to the second phase of the 3D Framework.
Develop
The journey matters. This is where you bring YOUR experience to bear. It's where you lead your client through a process that reveals possibility. Can you help open their eyes to what they could achieve and help them see what they couldn't see? One of the key ways to do this is through stories. You take your client, your audience, on a journey with you. And the journey has one purpose: deliver on the theme. The theme is what will guide them to the outcome you're seeking at the end. After you've developed the path, it's time to deliver on the promise.
Deliver
The first step matters. Do you know what that first step is for your client that will give them momentum on the path? If not, you need to, and there's no 'one size fits all.' Whether you're on stage or across the table from a client, you must get their attention from the very start. You need to be an ally to them on the path as you reveal the information that will help them achieve the outcome you've designed.
Speakers and consultants can both use the framework at different points in the customer journey as a way to focus on solving the problem and producing the outcome in the form of a transformation…it ties the ask, listen, learn, and serve mantra into the process and you become a servant to the client whoever they are. And that's how the 3D Framework will take you to the next level in your speaking and consulting.
Recommended Action
Think about a recent or upcoming engagement and ask yourself: Did I design the outcome? Did I start by thinking what the end game was? Did I develop the path by sharing the stories that I have and the lessons they revealed? How did I deliver the message, and was it effective?
Last week we talked about the Ask. Listen. Learn. Serve. Mantra. You ask because you want to learn. You listen to ensure you learn. You engage in conversation to prove that you understand. Then you bring your expertise to bear with what you've learned, and you've earned the right to serve them on a deeper level. That is what leads to a sale of your services.
The challenge is that some people don't realize transformation is possible. Our work is to push them in a way that opens their eyes to the possibilities. People won't act until they are motivated to do so, when they can see the outcome. To do that, you Design, Develop, and Deliver.
Design the outcome.
You never start anything unless you know what you're trying to get out of it. Defining an outcome is easy, but designing one is another thing altogether. It requires a deeper understanding of the process, the people, and what success in the outcome truly is.
Develop the path.
Where do your expertise, your stories, and your journey come in to play? You might see the path clearly, but your clients have an entirely different perspective. Talking to your clients and understanding what they see is paramount, so you can create custom paths that will guide them where they need to be.
Deliver the message.
Once you've designed and developed, you must deliver the message. It's not as simple as standing on a soapbox. To help ensure your success, find a way to engage with the people beforehand. Get them involved and aware, then deliver your message and call them to action. Give them a quick win.
Action Recommendation
Commit to making the Ask. Listen. Learn. Serve. mantra as the guiding premise for your interactions with clients. As you prepare for your next speaking or consulting engagement, use the 3D Framework to design the outcome with the client, then use your expertise to develop the path to create that outcome and deliver the message that leads people to take action.
Do you struggle with or worry about communicating your value to your prospects? There's a simple formula to calculate the true cost of the problem you solve – and we've got it broken down for you – download the free Value Calculator Worksheet at MichaelHudson.com/Value.
In honor of the Thanksgiving Day holiday in the US, this week's episode is about gratitude and giving thanks.
Too often we put the bar to high before we make the time to express our thanks and gratitude. Instead of capturing the moment and just letting others know how grateful we are, we look for a way to make a bigger splash in expressing our appreciation.
The result: Often it never happens because we put an obstacle in our way. Or, worse yet, we completely forget to acknowledge the little things—yeah, the ones that really matter and over time accumulate to create significant impact.
Why not make it a habit to capture the moments and acknowledge them? Why not make it a part of who you are to look for the ways that people help and serve others, then recognize them for their efforts.
If you're a regular listener, then you know that each episode of this podcast challenges you to reach out to someone and express your gratitude for the way they have impacted your life. With Thanksgiving upon us, why not commit to doing that more often and making it part of your everyday practice?
If you're anything like me you love to create content. It's a path to sharing your insights with others, and sometimes it's the easiest way to clarify and focus your thinking on a topic.
But you know what?
There comes a time when you need to stop creating more content and leverage what you have created. To look at those files and piles of documents created from your ideas and look for a way to share them so you can create more impact for the audience you serve.
For most of us the very idea of pulling back on creation is frightening. We've become very good at creating new stuff, we enjoy it, and everybody knows it's what we need to do to build our platforms. The idea of shifting our energy to refining and repurposing feels uncomfortable, and to some of us downright boring.
Yet only through doing that will you be able to create your most significant impact. Because stepping back and examining what you've created is the key to defining a strategic path for your work moving forward—a path where you define your core framework and start using it to connect with and serve your audience.
The truth is that if you've been creating for any length of time there are common themes that run through everything you do. Things that you always weave in, whether consciously or not. Your go to stories, your key insights and most shared recommendations.
Those things form your core framework, and they are the message that you most need to share; and frankly the one you can't help but share because it comes from deep within you.
I was reminded of this in a recent conversation with a new connection who asked me lots of questions, listened to my answers, learned about my purpose and my process, then served me by saying: "You need to stop creating new stuff, you already have enough content. You're just not leveraging it."
My initial reaction was to pushback with a firm "No, I can't do that." But after a bit of thought and some introspection, as well as a timely nudge from one of those ideas that crossed my path at just the right moment (thank you Larry Winget), I acknowledged the truth in the statement.
That's the moment I realized that my core framework is something I have used since I was a kid in 4-H completing projects and learning about new things…projects that taught me the power of what I now recognize as my core framework for everything I've ever done and for the work I do today with those I serve:
Step One: Define the outcome
Step Two: Develop the Path
Step Three: Deliver the Message
It is the path to impact that I always share in one form or another in the work I do from the stage, in one-on-one coaching sessions, and in consulting engagements with clients. And acknowledging that is going to help me become much more intentional about leveraging it to create more impact and be more strategic in the way I approach content creation and sharing.
Action Recommendation: Mine your content to discover your core framework so you can become more focused and create more impact in your content creation and sharing.
Podcast Download: In this podcast episode I referenced a process for tracking your time to gain a better understanding of where you are focusing your effort and energy. Download the worksheets I referenced here so you can easily examine the way you're investing your time each day.
Simply email [email protected] and your question will be answered on a future episode of the podcast. I will also send you a free copy of my book, Public Speaker Secrets.
Download Your Copy of the 3-Step Roadmap to Start, Run, and Grow Your Speaking BusinessThis free guide contains my best strategies to help you start, run, and grow a speaking business from scratch.
Download it today and you'll access to time-tested tactics that I've used to help hundreds of coaches, consultants, and professional speakers create impact with their ideas and get their message heard.
To get your copy, just Text HUDSON to the number 33444.
Simply email [email protected] and your question will be answered on a future episode of the podcast. I will also send you a free copy of my book, Public Speaker Secrets.
Download Your Copy of the 3-Step Roadmap to Start, Run, and Grow Your Speaking BusinessThis free guide contains my best strategies to help you start, run, and grow a speaking business from scratch.
Download it today and you'll access to time-tested tactics that I've used to help hundreds of coaches, consultants, and professional speakers create impact with their ideas and get their message heard.
To get your copy, just Text HUDSON to the number 33444.
From the publisher's feed