How to Succeed Podcast

Unlock the secrets to successfully raising prices for long-term clients with insights from Clint Babcock, a seasoned Sandler trainer from Tampa Bay. Overcome common sales hesitations and misconceptions, particularly the discomfort of discussing money and the fear of damaging client relationships. Clint provides indispensable advice on understanding and communicating the 'why' behind price increases, ensuring confidence in the value offered and tailoring approaches by industry specifics and adjustment scales. 

Explore strategic considerations for moving upstream in the market and the acceptance of losing some clients in favor of higher-value ones. Learn the importance of having the right messenger, whether it’s a senior figure or a dedicated committee, to convey price changes effectively. Clint shares negotiation tactics, including offering alternatives like reduced services or extended contracts, and the concept of BATNA to handle client reactions. Integrate price discussions into routine reviews and leverage customer contributions to maintain strong relationships amid price adjustments. Tune in for practical strategies and expert advice to navigate the complex landscape of price increases seamlessly.

(00:10) How to Succeed at Raising Prices (10:54) Navigating Price Increases Successfully (24:53) Effective Price Increase Negotiation Strategies

(00:10) How to Succeed at Raising Prices

This chapter explores the challenges and strategies of raising prices for long-term clients. We address the initial hesitations and misconceptions salespeople might have, particularly around the discomfort of discussing money and the fear of damaging customer relationships. Clint Babcock emphasizes the importance of understanding and communicating the 'why' behind the price increase, ensuring that everyone involved believes in the value of their products and services. Additionally, we touch on how personal money concepts can affect one's confidence in justifying price changes, and highlight the necessity of adapting approaches based on the industry and the scale of price adjustments.

(10:54) Navigating Price Increases Successfully

This chapter explores the strategic benefits and considerations of raising prices for clients, especially when aiming to move upstream in the market. We discuss how losing some clients during this transition is often acceptable and even beneficial, as the new clients acquired at higher rates typically offer better returns. Emphasizing the importance of the right person delivering the price increase message, we highlight the potential need for a senior figure or a dedicated committee to handle tough conversations. We also touch on negotiation strategies, such as offering alternatives like reduced services or extended contracts to manage client expectations. Additionally, we introduce the concept of BATNA (Best Alternative to a Negotiated Agreement) to evaluate clients' potential reactions and the stickiness of services to retain them despite price hikes. Integrating price discussions into regular reviews is also suggested to ease the process.

(24:53) Effective Price Increase Negotiation Strategies

This chapter explores effective negotiation techniques and communication strategies when delivering difficult messages, such as price increases. We discuss the importance of style, using anchoring to frame price changes positively, and the value of offering options that provide perceived benefits, such as locking in rates for a longer term. Additionally, we cover the delicate balance of allowing negotiation room without compromising on pricing, and how leveraging customer contributions like testimonials or white papers can be beneficial. We also emphasize the necessity of addressing at-risk customers promptly to maintain relationships, ensuring follow-up from senior management to mitigate dissatisfaction.

This week, we explore the intricacies of onboarding an operator with insights from Mandi Ellefson, author of Hands Off CEO. Learn how to effectively transition responsibilities, set clear expectations, and empower your team for success. Mandi provides practical advice on creating a robust framework that supports both the operator and the overall business objectives.

Join us for a deep dive into the essential elements of successful onboarding. Mandi’s experience highlights the balance between delegation and leadership, emphasizing strategies to ensure a smooth integration of new operators into your business.

Don’t miss this episode filled with actionable insights for optimizing your onboarding process and achieving operational excellence!

Timestamps:

00:01:00 Replacing yourself to focus on growth

00:10:10 Defining and standardizing excellence

00:12:33 Common hiring mistakes

00:14:56 Timing and ROI of hiring an operator

00:19:27 Being intentional during transitions

00:21:42 Calculating ROI for hiring an operator

00:23:19 Finding and onboarding operators

00:25:37 Ideal traits in an operator

Key Highlights

• Effective onboarding involves more than just delegating tasks; it’s about setting a clear framework for success.

• Clear role definitions and expectations help operators perform efficiently and integrate smoothly into the team.

• Regular communication and feedback are crucial for aligning expectations and resolving issues promptly.

• Performance metrics should be used to evaluate and refine the onboarding process for continuous improvement.

• Addressing common onboarding challenges proactively can lead to better outcomes and a more cohesive team.

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In this episode,  Madeline Miller focuses on engaging and coaching Gen Z employees as they move into leadership roles. Gen Z currently represents just under 20% of the workforce, but by 2030, millennials and Gen Z will make up two-thirds of the workforce. Madeline stresses the importance of early leadership development for Gen Z, to prevent the need to unlearn bad behaviors later. Gen Z faces unique challenges due to remote work and the digital landscape, which affect their communication skills. Madeline highlights the need for a balanced approach to resilience, not just focused on grit but also emotional processing, which is essential for strong leadership. She discusses how leaders can foster alignment between company goals and Gen Z’s mission-driven mindset by creating opportunities for professional development and engagement. 

Tune in to learn practical strategies for empowering the next generation of leaders.

Timestamps:

00:01:18 Importance of teaching leadership skills early

00:02:28 Gen Z's communication and leadership skills

00:04:29 Mindset shift needed for engaging Gen Z

00:05:34 Resilience and emotional processing

00:07:06 Leader's obligation to engage employees

00:09:58 Alignment with personal goals and values

00:13:22 Accommodating job turnover in younger workers

00:15:24 Influence through interpersonal communication

00:19:21 Setting communication standards in the company

00:21:34 How Madeline defines success

00:23:20 Overcoming the hurdle of career self-reflection

Key Takeaways:

• Early leadership development prevents the need to unlearn bad habits later.

• Gen Z’s communication challenges stem from remote work and digital interactions.

• Emotional resilience is crucial for leadership, beyond just grit.

• Leaders should align company goals with Gen Z’s purpose-driven values for greater engagement.

• Gen Z thrives in collaborative and feedback-rich environments, where they can see the impact of their work.

• Creating clear paths for career growth and continuous learning motivates and retains Gen Z talent.

• Flexibility in work environments is key to engaging Gen Z, as they highly value work-life balance.

• Gen Z is driven by authenticity and transparency in leadership, making it important for leaders to communicate openly.

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In this episode of How To Succeed Podcast, we explore the concept of organizational excellence with Jim Dunn, a seasoned Sandler trainer from Charlotte, North Carolina. Jim shares valuable insights on how leaders can build exceptional organizations by fostering a culture of continuous improvement and creating systems that make their roles less central to day-to-day operations. The discussion highlights key elements such as empowering teams, keeping up with new technologies, and ensuring everyone is aligned with the company’s vision. Jim emphasizes that true leadership involves making yourself irrelevant by delegating tasks and allowing others to thrive in their roles.

As the conversation unfolds, Jim outlines how leaders can balance being passionate about the business and maintaining objectivity. He offers practical advice on creating clear priorities, hiring the right people, and continuously refining processes to ensure organizational growth. Whether you're a seasoned leader or an aspiring entrepreneur, this episode provides actionable strategies to take your leadership and organization to the next level.

Timestamps:

00:00:00 Introduction and overview of organizational excellence

00:01:54 Misconceptions about leaders and the importance of delegation

00:04:03 Balancing passion and emotions in leadership

00:07:03 The six P's of organizational excellence

00:10:21 Defining roles and positions in an organization

00:13:14 Hiring and developing people

00:17:19 Processes, performance metrics, and the importance of flexibility

00:19:35 The role of tools and techniques in organizational excellence

00:22:18 Specific tools for prioritization, onboarding, and individual training needs

00:24:46 Customizing tools and identifying blind spots through assessments

00:26:14 The importance of continuous learning and growth

Key Takeaways:

• Organizational excellence is about continuous improvement and ensuring teams are aligned with the company’s vision.

• Effective leaders delegate tasks, allowing their teams to manage day-to-day operations while they focus on higher-level strategy.

• Passion and objectivity must be balanced; great leaders avoid getting bogged down in emotions and instead maintain a long-term vision.

• Creating clear priorities and defining roles within the organization is crucial for success.

• People development and training are ongoing processes that must be reinforced to keep the team growing.

• Processes need to be regularly reviewed and improved with the help of new technologies.

• Performance metrics should be tracked to ensure that organizational processes are working effectively and supporting growth.

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In this episode, we dive deep into understanding your sales capacity, capability, and competencies with our esteemed guest, Markku Kauppinen, CEO of Extended Disc North America. Markku, a frequent guest on our show, brings exciting news about a new collaboration between Sandler and Extended Disc: the Sales Capacity Assessment. The conversation explores the Sales Excuse Index, a metric that quantifies excuse-making behavior among sales professionals. Markku emphasizes the importance of identifying and addressing these tendencies to enhance sales performance. 

As the discussion progresses, we discuss balancing strengths and weaknesses in sales, highlighting the need for persistence and prioritizing achievement over mere activity for long-term business success.

Timestamps:

00:00:00 - Introduction to Sales Capacity Assessment

00:05:30 - Importance of Assessments in Sales

00:08:28 - Attitude Towards Excuse Making

00:11:42 - Benchmarking Competencies

00:14:53 - Key Sales Competencies

00:16:20 - Difference Between Behaviors and Competencies

00:19:21 - Team Training and Individual Development

00:22:50 - Defining Success in Career

00:27:56 - Overcoming Challenges in Career

Key Takeaways:

• Assessments like the Sales Capacity Assessment aid in hiring, training, and development.

• It provides insights into an applicant's natural behaviors and sales competencies, facilitating better hiring decisions.

• The assessment evaluates behavioral styles and competency levels in various sales areas.

• The Excuse Index within the assessment measures excuse-making tendencies and highlights areas for improvement.

• Benchmarking compares team performance against industry standards, crucial for the assessment process.

• It identifies both strengths and weaknesses, enabling targeted development plans.

• Individual learning paths can be tailored based on assessment results to address specific improvement areas.

• The assessment can be retaken every six months to monitor progress and adjust development plans.

• Success in sales involves balancing strengths with development areas.

• Consistent focus on critical sales activities is essential for achieving success.

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In this episode of the How to Succeed Podcast, social selling expert Richard Bliss from BlissPoint Consulting shares valuable insights on succeeding at social selling on LinkedIn. The discussion covers the evolution of LinkedIn as the go-to platform, emphasizing its ubiquity compared to other social media platforms. Listeners will gain practical tips on leveraging LinkedIn to generate leads, enhance their pipeline, and optimize social selling strategies. 

Bliss explains that the algorithm on LinkedIn is designed to trigger conversations between members, unlike other social media platforms like Facebook or Instagram, which are more focused on entertainment. He points out that the algorithm on LinkedIn rewards meaningful interactions that lead to conversations rather than simply garnering likes or views. This shift in mindset is crucial for salespeople looking to succeed on the platform.

Tune in to learn how to navigate the changing landscape of social selling and maximize your results on LinkedIn.

Timestamps: 

00:02:47 The upside-down world of social selling.

00:06:03 LinkedIn content engagement strategies.

00:08:37 LinkedIn sales strategies.

00:11:15 Commenting for Sales Success.

00:14:33 LinkedIn networking strategies.

00:19:14 Underrated sales prospecting techniques.

00:22:27 Cold email techniques.

00:27:28 Engaging sales team strategy.

00:31:13 Overcoming career setback.

00:34:21 Leadership and communication skills.

Key Highlights:

• LinkedIn has become the go-to platform for social selling, with widespread adoption among professionals.

• The purpose of LinkedIn is to connect with prospects and customers and build relationships, rather than entertain or distract.

• The algorithm on LinkedIn is designed to trigger conversations between members, unlike other social media platforms.

• Posting text-only content on LinkedIn generates more reach and engagement compared to videos or graphics.

• Engaging in conversations by leaving comments on prospects' posts is more effective than sending direct messages or connection requests.

• Leveraging the mentioned feature on LinkedIn can grab the attention of prospects without directly reaching out to them.

• Sales Navigator can be a valuable tool for tracking and finding prospects, but it should be used in conjunction with understanding the fundamentals of LinkedIn.

• Using AI tools like ChatGPT can help generate ideas for comments and responses to prospects' posts.

• Authentic engagement and conversations with prospects are more important than trying to cheat the algorithm or use specific posting techniques.

• Success in social selling on LinkedIn is measured by the number of people you can help and the level of enjoyment you derive from your work.

•  

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In this episode, we discuss buying a franchise with Josh Dubois. Most people consider business ownership to replace income or build generational wealth. Franchising fast-tracks starting a business by providing systems and resources. Josh recommends exploring options over 1-2 months without pressure to decide. He outlines the process of researching franchises, speaking with owners, reviewing financials, and managing expectations. We emphasize having a strong "why" and taking extreme ownership as a franchisee. Success requires being known in the community, following the playbook, and having a positive attitude.

Josh's father transitioned from long hours in the restaurant industry to owning a dry cleaning franchise, which allowed him to attend Josh's games and eventually become a CEO. This lifestyle change inspired Josh to pursue business ownership before becoming a franchise broker to help others without promoting any specific franchise. He lives by "conquer the mind" – being conscious and positive to manifest goals.

Timestamps:

02:05 Why pick franchising over starting your own business?

04:58 Lifestyle and legacy in franchising

10:14 Lifestyle freedom in franchising

12:09 The buying process and common mistakes

17:08 Getting started and being successful

19:41 Managing expectations between franchisor and franchisee

21:22 Taking extreme ownership

23:23 Tips, tricks, and hacks for buying a franchise

25:00 You don't need to decide today

Key Takeaways:

• Spend 1-2 months exploring franchise options to make an informed choice.

• Research thoroughly: talk to owners and review financials.

• A strong "why" drives motivation and focus.

• Extreme ownership means fully committing to the franchise’s success.

• Being known in your community benefits your business.

• Follow the franchise's systems and guidelines.

• Maintain a positive attitude to overcome challenges.

• Personal experiences can inspire and guide business decisions.

• Hands-on ownership experience helps in advising others.

• A positive mindset, or "conquer the mind," is crucial for achieving goals.

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In this episode, we discussed the crucial importance of assessing and developing sales capacity to drive business success. We prioritized the need for sales development and defined what constitutes success in this area. We explored how assessments can uncover valuable insights into natural sales behaviors and competencies. We shared examples of effective sales development strategies and introduced the Sandler Training's Sales Capacity Assessment as a powerful tool for self-improvement and performance measurement.

Timestamps:

00:10: Using assessments to evaluate sales capacity, identify natural behaviors, and improve development. 

05:06: Sales assessments, excuse making, and personal growth.

8:52 The Impact of Excuse Making on Sales Performance

12:13 Optimizing Sales Teams Through Benchmarking and Personalized Development

22:50 Balancing Strengths and Weaknesses in Personal Development

25:25 Defining Success and Overcoming Challenges in Business

Key Takeaways: 

• Assessments play a crucial role in avoiding costly hiring mistakes, providing accurate information about a candidate's natural behaviors and sales competencies.

• Benchmarking sales competencies help identify areas for development and tailor training programs to enhance sales team performance effectively.

• Understanding the balance between behavioral tendencies and skill development is key to maximizing individual and team success in sales roles.

• Excuse index scores offer valuable insights into sales professionals' focus on sales activities, highlighting areas for improvement and increased productivity.

• Utilizing individual learning paths based on assessment results can lead to

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In this episode, we delve deep into the pervasive and often debilitating experience of imposter syndrome with Gary Frey. Gary Frey challenges the notion that feeling like a fraud is unique to a select few, revealing its prevalence across various industries and career stages. Through open and honest conversation, we explore the root causes of imposter syndrome, including self-doubt, fear of failure, and the pressure to meet unrealistic expectations. Gary shares personal experiences, offering relatable insights and practical strategies for overcoming these challenges. By emphasizing self-compassion, building resilience, and cultivating a growth mindset, we empower listeners to challenge their inner critic and unlock their full potential.

Moreover, we discuss the importance of work-life balance, the dangers of burnout, and the necessity of prioritizing personal well-being. By fostering a culture of open dialogue about mental health, we aim to create a supportive environment where individuals can thrive both professionally and personally.

Timestamps:

00:10: Imposter syndrome and its impact on high achievers, including C-suite executives and celebrities. 

07:13: Impostor syndrome, self-doubt, and behavior in sales and leadership. 

11:51: Finding the balance between career and personal life to overcome imposter syndrome. 

18:03: Embracing uniqueness and niching down to find success. 

22:59: Overcoming imposter syndrome and defining success through core values and purpose. 

28:36: The importance of gratitude and resilience in the face of adversity. 

Key Takeaways: 

• Recognizing and acknowledging imposter syndrome is the first step towards overcoming it.

• Thriving in your strengths and minimizing or outsourcing weaknesses can help combat imposter syndrome.

• The importance of authenticity, resilience, and finding gratitude in challenging circumstances is emphasized.

• Practical strategies, like the "Thrive or Wither" approach and gratitude journaling, are recommended for silencing self-doubt.

• Niche down to unlock unique strengths, resist the usual, and make a positive difference without conforming to societal expectations.

• Success is defined by integrity, humility, and the ability to make a positive impact in the lives of others.

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In this captivating episode, we delve into the often-overlooked potential within organizations: the 'hidden salesforce'. We explore strategies for unlocking this hidden talent pool, emphasizing the importance of cultivating curiosity and providing the necessary tools for sales success. The episode underscores the delicate balance between technical proficiency and sales acumen, highlighting the need for thoughtful, informative conversations over aggressive sales tactics. By redefining the role of technical teams and integrating them into the broader business strategy, organizations can harness their full potential and drive significant growth.

Timestamps:

03:44 Discussion on hidden sales potential in professional services firms.

08:08: When to involve technical experts in sales meetings.

13:50: Unlocking hidden sales force by redefining technical teams' purpose.

19:03: Techniques for technical professionals to have meaningful conversations with clients.

22:51: Empowering teams to ask hard questions and grow business.

28:00: Sales techniques, personal growth, and networking.

Key Takeaways: 

• Redefine technical teams' purpose to focus on business growth, not just delivery.

• Empower technical teams to ask challenging questions and uncover opportunities.

• Prioritize high-potential leads through upfront qualification.

• Cultivate a culture of curiosity and inquiry to deepen client relationships.

• Invest time in understanding client challenges for effective solution tailoring.

• Overcome sales aversion by reframing sales as value delivery and knowledge sharing.

• Use powerful questioning to uncover client pain points and aspirations.

• Share industry insights to position yourself as a trusted advisor.

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