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Friday, March 27, 2009

How to Command Top Dollar in a Down Economy!

Last Tuesday, I went on a 1/2 day cruise/Seminar!

Our Host: Scott Sorrell a.k.a. "Mr. Charge Higher Prices"

Now, I've been to LOTS of Seminars and I was interested in learning what Scott had to say, sure. I knew that mostly, I was going for the networking.

Wow did I ever get a pleasant surprise!

I learned an amazing amount of information at this event and what's more, I'M SURE there is much more that Scott can teach me.

I'll be working Scott's services into my business as soon as I can. Yeah, it was THAT GOOD!

Here's why...

Scott used very clear stories to illustrate his points - this always helps me. Like the one about the Drill Sargent with a nearly 100% conversion ratio in his new position as a life insurance rep. He put things in terms the new recruits could understand:

'they offer two policies here, the basic one you get as a serviceman pays out $6,000 and the one you buy, pays out $250,000... who do you think they send to the front first?'

As Scott said, that Drill Sargent gave THEIR presentation.

Are you giving YOUR presentation or your CLIENTS presentation?

And if you make these strategies work when times are challenging, you will do even better when things start getting better.

If you think about it, even in the BEST of times, your client has their own 'economy' at any given moment.

Teach your clients to do what YOU are doing for them so that THEY can offer THEIR clients the same thing, and charge higher prices to improve THEIR bottom line!

Scott covered the 8 Steps of Professional Selling.

Do you know what they are? If you don't, you'd better come and hear Scott as soon as you can! If you miss any of them or get anything in the wrong order, you are shooting yourself in the foot before you even get going!

I realize that I didn't know these steps, though I did have some intuition for them, and I sure didn't know the exact order to follow or be doomed!

That alone would have been worth the whole event! Yet Scott had more for us, including a very unique 'matrix' which we are all still exploring for potential solutions. More about that in minute.

Next, Scott covered the Value Triangle. Out of the three things you can offer your clients, you get to pick two. Help your clients understand this for your business AND theirs. They are in the same situation when they approach their clients.

Scott made an excellent point regarding the inverse relationship between cost and price. I think I 'knew' that yet his explanation went into greater depths and the story about his beautiful Doberman Pinscher, Sir Winston III, illustrated beautifully the reality of how SOME cost-cutting efforts can actually give you a higher price in the end.

In fact, encourage your clients to consider you an investment! Scott's motto 'If you don't see a bump up in your sales, you don't pay' which is a beautiful way to offer your clients peace of mind when they deal with you.

Scott launched into the introduction of The Sorrell Matrix with two questions vital to answer if you are to remain in business. The first 'How can you help your customers think they need what you have?' and the second 'How can you make what you offer impossible to get elsewhere?' and proceeded to start us down the path to answering those questions.

One of the many handouts was The Sorrell Matrix which Scott covered in some detail and asked us to work on in a short session amongst ourselves.

This was probably the most powerful part of the presentation for me. I knew something about the rest of what Scott taught us and enjoyed the expansion Scott offered upon each topic. THIS however was something totally new to me.

The Sorrell Matrix helps you examine those two questions about getting your clients to understand that they need what you have to offer and that they can't get it anywhere else.

We explored the needs vs. non-essentials and the exclusive vs. non-exclusive and some of the interrelationships between them and how to approach your client with your solutions.

Emphasis? BE PREPARED!

And commit to implement one or more of these strategies/tactics.

Over and over and over again, Scott said we should know who we are dealing with and how we will approach them... and remain flexible when your conversation reveals new information.

And it goes on!

I'm looking over my notes thinking, my goodness, there's still MORE! So this is just as helpful to me in review as it is for you.

Scott recommends we FIRE 'Lowball Larry.' I can agree with. You WANT to find new, rich customers, people who LIKE paying higher prices. Yes you must deliver. It's just that price tends to equal quality for the 'Rich Reginald's' that Scott recommends you go searching for.


That was the meat of the next segment. We learned about analyzing that ideal customer, and finding their clones. Are you doing that in your business? Yes? Great! No? Better let me introduce you to Scott Sorrell!

I know he can help you.

Scott covered objections, how to handle the discount hunter (that's so cool!) and getting in front of the right people to make your case (or would that be THEIR case?!? :) all in about 1/2 a day.

My notes just go on from there. This article should probably wind up though.

This was no rehash of the same old same old I've heard before at other Seminars. This was some genuinely interesting and new information!

I am seriously looking forward to working with Scott in the near future. I urge you to check out his services, have a conversation, do SOMETHING to avail yourself of his expertise. Scott Sorrell is someone you want on your team!

Thank you for reading, now go see Scott's site!

Pam Hoffman

p.s. i just checked in with Scott and it looks like he will offer another event sometime around mid May. you gotta be there! i'll be sure to write up more when i know the details so CHECK BACK sometime in April 2009. thanks, pam

some pictures from the cruise...

And some of the 'characters' on it... :)

L-R: Zen, 'Capt. Jack Sparow,' GiGi and myself!


Scott Sorrell said...

Pam, I have to be the first to post a comment because I'm so darned flattered by what you've written! After reading your review, I want to sit in on my own seminar and take notes! You're the best. And you have to admit, buying a ticket to my program was the best $9,950 you've ever invested in business! (That's just a hint to your readers so they feel privileged when I offer them a special $595 deal for my next seminar! LOL!) Anyway, the cruise was terrific mostly because great people like you attended and enjoyed the food, the fun and the fresh air. Who cares about the speaker, right? -- we were on a chartered yacht on Newport Harbor! But seriously, I can't wait until the next one when I'll share even more of my "Charge Higher Prices" secrets. I'm thinking we'll do it in mid-May. (What do you think, everybody?) Oh, and get your tickets early: there was standing room only on this Seminar at Sea, and the next one will sell out for sure now that the cat's out of the bag as to how fantastic it really is! Stay tuned for "How to Command Top Dollar in a Down Economy -- Part II!" ~Scott Sorrell

GiGi said...

Yep, I was there and I'll have to agree with Pam that is was a great seminar!

I'd love to say something different than Pam, but man, she has everything covered!

The Sorrell Matrix was probably the big "a-ha" moment for me.

Hey, the food WAS great! The ocean air was marvelous. May will be a perfect time for the next one!

Sandra Sellani said...

The thing that makes Scott's presentations so remarkable is that he gives you practical information you can use immediately. Forget philosophy - in this market, we need tactics.The fact that it was on the water, had great food and networking was an over the top bonus. I feel sorry for anyone that "missed the boat" on this one.

Chris said...

Scott is not only an amazing speaker, but he's got great, pragmatic ideas on how to excel in this market. Getting pumped up is all well and good, but professionals need tools and practices that actually make a difference. Scott gave us those. It was entertaining and in a nice location, but most importantly it was very valuable.

I highly recommend taking part in his next seminar!

tmikulka said...

It was good to finally see Scott Sorrell speak live on his Seminar at Sea yacht cruise. I had heard great things about Scott from friends, but, to be honest, I was skeptical at first about taking 1/2 the day off for yet another seminar. But after hearing him teach a packed room “How to Command Top Dollar in a Down Economy," I realized that improving my sales skills is exactly what I need to be doing in the current challenging market. Just today, I used Scott’s Value Triangle technique to let a client see for himself what value I can bring to the table. I’m definitely in for Scott’s next class! ~Troy Mikulka

Carl Fredricks said...

Wow ! Seminar at Sea. Just another seminar but in a novel venue. HARDLY ! Scott finds a way to implement new ideas and remind us of proven practices in a most enjoyable presentation. We all know
'good, fast, cheap.....pick 2' but often forget to implement that reality into our presentations. The Sorrell Matrix and First Law of Pricing is the key to getting what we are worth. Very valuable stuff ! Well done, Scott!
Count me in for the next one.

Anonymous said...

Normally at a seminar you learn one or two things that you can immediately use to enhance your business, but at Scott's Seminar at Sea, there were about 10 different strategies that I came away with that will have an immediate impact on my business. Thanks Scott for a wonderful day full of fun and information

Barry Davis said...

Normally at a seminar you learn one or two things that you can immediately use to enhance your business, but at Scott's Seminar at Sea, there were about 10 different strategies that I came away with that will have an immediate impact on my business. Thanks Scott for a wonderful day full of fun and information

Tommy Pain said...

I was skeptical when boarding, despite being impressed by Scott personally, that he would have much to say I hadn't heard before, as I had attended many seminars; and usually didn't get anything distinctive enough to put to immediate use. Happily I was quickly and repeatedly proven wrong, as over and over Scott was able to give clear and useful direction. Most importantly, I was able that same day to convince my business partner to implement several of Scott's ideas immediately. Anyone would profit by attending one of Scott's seminiars!!! He rocks!!!

Phil McCrea said...

Scott hit this one right on the head. I've Been in sales most of my life and have been to at least a couple dozen seminars, none of them have been this full of nuggets. I believe if you are an experienced sales person or just starting out, if you implement these technics you won't be anything but successful,

Can't wait for the next one!!

Pam Hoffman said...

Thank you all for stopping by and adding your thoughts.

I'm looking forward to learning more about what you are doing and, with any luck, meet you at a future event.

I appreciate your time,

Pam Hoffman

Brenda Breen said...

Scott is a dynamic speaker! Not only is Scott knowledgeable about sales success, he is passionate about this topic, and in exceeding his customer's expectations.

Scott emphasizes building a strong rapport with his clients, taking notes, listening and having a solid understanding of their business needs by asking the right questions. His approach is all about developing relationships for the long haul. Did you know that closing a deal is a process? It is! Scott will share how his "Take it to the Top" questions will influence your contact to "take it to the top"! Scott not only provides the steps to success, he also provides valuable tools to guarantee you success!

Brenda Breen
President, Association for Women in Technology

David said...

I'm so glad we attended this seminar by Sales Adrenaline. Scott Sorrell, Sales Adrenaline's founder and the days speaker, was encouraging, humorous, and extremely knowledgeable. We left the day feeling inspired and motivated to seek out new ways better our company by using the techniques he presented. By reviewing the 8 vital steps in presenting a client proposal and follow up, we walked away with valuable information that we could immediately implement in our own business. In addition, Scott thoroughly explained the driving motivators of potential clients and how to control a sale. Besides walking away with new key motivators to better sell our services and increase revenue, we met potential clients and expanded our business contacts. Thanks Scott!

Vanessa said...

What can I say? Even as a green college student, new to the tricks of the trade, I found myself immersed in a world of business that was welcoming, engaging, and stimulating! I was able to understand the concepts easily as they were drilled in without me even knowing it! The program was clear and concise, which allowed the message to be all the more powerful. Coupled with the soothing scenery aboard a ship, I was compelled to learn how to command top dollar. Thanks so much Scott!

Anonymous said...
This comment has been removed by a blog administrator.
Insignia Sign Company said...

Dear Scott,

Thank YOU for an outstanding seminar at Sea.

The weather was great. Newport Harbor was beautiful. Seeing tall boat masts out the window and the sun glistening off the water was breathtaking. But the solid, proven, tried and true sales techniques were even better. The personal coaching, motivation, and focus Scott brought to the seminar was fantastic!

Cindy Logan said...

Scott, thank you so much for this informative, cutting edge seminar. You gave us very practical information that we can use immediately. And the yacht was pretty great too!

You created an ideal environment for learning, and all of us can use the information that you taught. Learning the strategies that we can implement in our businesses today, strategies to retain current clients and obtain new clients, was essential in this interesting economy.

Ed said...

"My background is in the operations and customer service side of businesses. I never really considered myself a salesperson, although I had been exposed to it at various times during my career. After taking Scott's Seminar at Sea course, I not only consider myself ready for the sales role I am taking on, I can't wait to get out in the business world and put into action those lessons learned. As a matter of fact, I got a few good leads at the seminar and am well on my way to closing those deals this week!

Thanks Scott for getting me on the right path to success!

Ed Going

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