Options And Opportunity

Most of the decisions we make are binary.  The options are either “yes” or “no,” either “take it” or “leave it.”

We’ve grown accustom to making decisions this way but it doesn’t necessarily feel good.

If you want to increase the chances of coming to an agreement, offer the other person three options. This empowers him. It provides him the opportunity to take control.

That’s what we’re fixated on today.

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Transcript Of This Episode

Options And Opportunity

Hi, it’s Dave Lorenzo, and today’s fixation is on options and opportunity. Whenever we have choices, we feel empowered, that’s just human nature. And our goal is to develop deep productive relationships with clients, with employees, with the people in our lives. So offering options for dealing with certain situations is a great way to grow, develop and deepen relationships, especially over the long term. Let me give you some examples about how people respond well to choice and to the options you offer them.

Let’s talk about when people make a purchase decision for example. You’ve heard probably, most commonly throughout your entire life, you’ve heard, “Take it or leave it” type offers. The product or the service costs X, if you want it, you pay X. Well, those types of situations while commonplace for commodities, do not make us feel really great when we’re purchasing experiences or investing in professional services. So, I would offer to you the opportunity to deepen a relationship by presenting options to your clients. What does this mean? Well, there are a number of ways that you can contribute value to a client. There are a number of different ways you can help a client learn and grow. There are a number of different ways you can solve the clients problems. You can offer different degrees of value.

So, let me explain how this works. In a CPA practice, for example, if a client would like monthly bookkeeping services, that could be one price. If a client needs monthly bookkeeping services plus annual taxes, that could be a second price. If the client wants monthly bookkeeping services, annual taxes, plus advisory services to help them run their business better, there’s a third option that’s available to them. These three options come at three different price points. So when you sit down to offer your client an engagement agreement, you include each of these three options in there, so the client feels empowered to make a good choice. This can be done in the practice of law. It can be done in coaching and consulting. It can be done in any sales situation as long as there’s opportunity to provide enhanced or additional value.

Another way that you can offer folks options to deepen relationships is in the hiring experience. The most common way to make an offer from a hiring perspective is, “Here’s your salary, here are your benefits, let us know if you want the job.” What if there were alternatives? “Here’s your salary, here are the benefits, however if you want to provide an alternative value to the company, additional value, the salary and the benefits would look like this.” “If you have the ability to sell, here’s what your salary and benefits will be, and here’s a commission option. You can pick and choose how you want to be compensated.” Think about what that would do to the hiring process and your ability to track top talent. You would become instantly a preferred provider in your industry if you offered options on hiring.

The final example I’ll give you on how you can offer option is attire, is dress. Think about how it affects morale in any office when you allow people to come in dressed casually for the work day. A lot of companies do this in the summertime on Fridays. They have casual Fridays. The morale in the office is boosted tremendously. Now, people can choose to dress in a business, formal way on casual Friday, but most people make the choice. They feel empowered to make the choice to dress casually.

So whenever you have an opportunity to offer people choices; whether they’re employees, whether they’re clients, whether you are providing experiences for people, offering options leads to additional opportunity. That’s what we’re fixated on today. And I’m Dave Lorenzo. I’ll see you next time at the Four Minute Fixation.

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