The Business You Are Really In

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The Business You Are Really In

Episode Summary

In this episode we focus on the business you are really in. Most of us think we are in the business of delivering our product or service. That’s not true. That type of thinking will hinder your ability to make a great living and live a great life. Listen to this episode of The Valtimax Podcast and you will learn how to focus your business for rapid growth.

Transcript

Click the link below for the transcript of this episode.

Valtimax Podcast Transcript: The Business You Are Really In

The Business You Are Really In

This is Dave Lorenzo. I’m the Chairman and Founder of Valtimax Consulting, and I’m coming to you live today from beautiful South Florida. We’re here to help lawyers, doctors, business leaders make a great living and live a great life. That’s right folks we are your prescription for profit and prosperity.

Today we’re going to talk about the business that you’re really in. I know that you think you’re a fantastic practitioner. You’re a fantastic service provider. You’re a great accountant. You’re a great lawyer. You’re a great doctor. You’re a great business leader. You have the best business in the world, and everyone should beat a path to your door. But, it doesn’t happen that way. It absolutely is not that easy.

Here’s the reason why. You’re focusing on the wrong thing. You are not in the business you think you’re in. That’s right folks. You’re not in the business you think you’re in. If you’re an accountant, you think you’re in the business of debits and credits. You think you’re in the business of producing tax returns once a year, financial statements each and every quarter, each and every month.

If you’re a doctor, you think you’re in the business of helping people heal. If you’re a lawyer, you think you’re in the business of processing transactions or improving your clients’ condition helping them out with a litigation matter. If you’re a business leader, you think you’re in the business of selling products, or services, or creating experiences.

What you’re really in the business of is you’re in the business of developing relationships. That’s right. Each and every one of us is in the business of developing relationships. A person who works with you has an opportunity to refer your business, your service, your practice to at least ten to 20 people. Each person walking around on the planet today knows around 250 people, and they have the ability to refer you to all those folks.

But, they do not take advantage of that opportunity because they don’t feel like they have a deep enough relationship with you. Maybe some of them do, but all of them could, all of them should, and we want all of them to do so.

So, today we’re going to talk about how you can deepen your relationships with your clients, with your patients, with your customers. That’s the focus of our topic today here on the Valtimax Podcast. We’re here today to teach you how to deepen those relationships because that’s the business that you’re really in.

Now, you may be thinking to yourself, “I thought this was a podcast about business strategy. I thought this was a podcast about marketing. I thought this was a podcast that was going to help me make a great living and live a great life.” I know that’s what you’re thinking.

Here’s the thing folks, the essence of all business is founded in relationships. That’s right. All business begins and ends with the relationship your client, your customer, your patient has with you or the relationship they perceive they have with you and your team, with you and your family, with you and your business.

So, what are the three elements that are necessary for deep, long-lasting, client relationships? Element number one, your client, your customer, your patient must know you. They must know who you are. They must know what you do. They must know about the service you provide. They must know what makes you different from everybody else who does what you do.

Number two, they must like you. They must have an affinity for you. They must really, really like you. People may go to a surgeon who they don’t like, who has a terrible bedside manner because he’s the only person who can perform that surgery. But, you can be sure they won’t feel good about their experience.

They may go to a lawyer who’s a pit bull, who can get them the settlement they need. But, they’ll only go to him one time and they’re not going to enjoy the experience, and they’re not going to tell other people about him. So, they have to know you, and they have to like you. The third element is that they have to trust you. Before they give you their money, they must give you their trust.

Now, these three elements are absolutely key whether you’re an accountant, whether you’re a physician, whether you’re a lawyer, whether you’re a business owner with a shop on the corner, or a business leader in a multinational billion dollar company. People have to know you, they have to like you, and they have to trust you before they will give you their money, and before they will refer someone else to you.

So, if you take these three elements and break them down, how do you get people to know you? Well, most people think you get people to know you, most people think that you get people to know your business by standing up and shouting louder than everybody else. That’s why you see so many TV commercials. That’s why you see so much internet advertising, pay-per-click ads, pop-up ads, banner ads on every page.

Now with re-marketing, you’re seeing the same banners over and over again when you move from page to page. With search engine optimization the same sites come up over and over again when you type in keywords. Why? Because people think they need to shout louder than everybody else in order to get their message heard. But, that’s not the case. Shouting loud just makes you annoying. Interrupting people must makes you annoying and it may work once, it

may even work twice, but it does not work over the long term. It does not provide you with the referral business that we all crave.

So, how do we get people to know us and get people to like us, and get people to trust us, how do we do this in a way that is not only credible, but it makes us look like people who are trustworthy? Like people who are professionals, like people who are making every effort to develop a relationship with that client, with that patient, with that customer?

The way that I always describe this when I’m describing it to my clients is that it’s very much like a dating relationship. If you walked up to someone and you said, “Hi, my name is,” and you insert your name here. So, I would go up to them and I would go up to them and say, “Hey. My name is Dave Lorenzo. How are you doing? I like the way you look. You smell very nice. You have a great physical appearance. Let’s go get married.” What would happen?

More often than not, 99 cases out of 100, the person you said that to would laugh at you, slap you in the face, at least turn and walk away, in most cases turn and run away. Because that person doesn’t know who you are, yet you’re going up to them, you’re shaking hands, you’re asking them to marry you, without even dating them first.

So, what needs to happen ladies and gentlemen, what needs to happen is, you need to court these people. You need to bring them along, and the way that we do that is through a five-step process, five-step process, that I call my “marketing playbook”.

Step number one is to go out and find people who need your services or who are at least interested in the products or services that you can provide. Now, there are a number of ways to do this, but does not make any sense for you to go on a street corner and shout, “Hey, I perform great appendectomies, anybody out there with an appendix? Anybody out there with an appendix that’s hurting? Anybody out there with an appendix that’s about to burst? Step right up. I have your appendectomy solution right here.”

It makes no sense to go out on a street corner and do that. Yet when we have clients who are mass market advertising, that’s when we look at them and we say to them, “You’re advertising to 80% of the population, or 85% of the population, 90% of the population that doesn’t need your services.” The first thing you have to do is find people who can benefit from your products, who can benefit from your services. Find people who have a condition that you can improve. Find people who you can help. That’s the first thing. Find a market. Find a group of people who need your help.

The second thing is get these folks interested in solving their problem, okay? Get these folks interested in looking for a solution. So if you have folks out there right now using the appendix

situation, who have an appendix that’s about to burst, how do they know they have to come in and get an exam? You have to get these people interested in finding a solution to the problem.

So, step number one, find people who have a problem you can solve. Step number two; get them interested in solving that problem. Get them to want what they actually need. Then, step number three is to educate them on selecting the right solution. Educate them on selecting the right solution. That’s step number three.

So, number one, you have to find people who have the problem. Number two; get them interested in solving the problem. Number three; educate them on finding the right solution for their problem. Step number four; once they’re educated and you’re delivering the education then you make them an offer. You make them an offer to come see you because you can improve their condition. You have the product, you have the service, you have the experience, you can improve their condition.

Then the final step, step number five is to solve the problem, is to improve their condition, is to provide the service. Those are the five steps in getting people to know you, like you, and trust you. You’ll notice that those five steps are different from everything else you’ve heard about marketing in the past.

Now, why are those five steps different? Because there’s nothing in there about click-through rate. There’s nothing in there about mass market advertising. There’s nothing in there about copy or right-hand page reads in a magazine. That’s different than what you’ve heard in the past about marketing. Why? Because it’s centered on people, it’s centered on relationships. It’s centered, focused on helping you build those relationships with your clients.

Now, once again, let me reiterate why this is so important. Relationships are the key to everything that drives your business. One satisfied client, one satisfied customer, one satisfied patient will go out and tell ten people. One thrilled or delighted, or engaged client – engaged patient, engaged customer – will go out and tell 200. One client who’s not communicated with, who’s not followed up with, who’s not nurtured and handled beyond the initial transaction won’t tell anybody, whether they’ve received fantastic service or not.

So, you have to focus on two things. You have to focus on creating an environment that provides outstanding quality products and services to your clients, and then you have to focus on bringing the clients into your practice, to your business, to your firm. That’s what marketing is all about.

The business that you’re really in is the business of creating and maintaining relationships. You’re not in the business of practicing law. You’re not in the business of healing people. You’re

not in the business of providing products and services. You’re in the business of creating and maintaining relationships.

You could be a miracle worker as a doctor. You could be the best lawyer since Clarence Darrow. You could have the best mousetrap money can buy. You can provide the best service experience on the planet. If no one knows about it, no one knows about it, you will not be in business for very long.

This is the Valtimax Podcast. I am Dave Lorenzo. You can find this podcast on iTunes, and you can find more great information included in a podcast format, included in video format, included in written format, along with free downloads of books and audio programs and videos at Valtimax.com. V-A-L-T-I-M-A-X.com.

That will do it for this week’s episode of the Valtimax Podcast. My name is Dave Lorenzo, and I’d like your feedback and comments on this week’s episode. You can call me at 888-692-5531 or e-mail me. Here’s hoping you make a great living and live a great life®.

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