My column this week is aimed at businesses that offer a service.
And it encourages these businesses to think about creating a 'Rolls Royce' Service Offer. Let me explain...
A couple of years ago I watched a fascinating video presentation by a business coach who was charging $100,000 a year to coach certain business clients.
This coach had been in business for around 3 years and (from memory) he was working with CEO's of privately held companies that were going public in the near future.
This coach focused his coaching on helping his clients get positive outcomes in key things they were doing in their business.
Like giving a live presentation to a group of potential investors in his company.
I liked what this coach was doing for two reasons.
First of all he was thinking big which is one of my favourite strategies in business.
He wasn't just charging $1,000 to $2,000 a month for normal coaching. He was charging $100,000 a year!
Secondly he was focusing his coaching on the hugely valuable key outcomes he could help his clients to achieve.
If for instance his client could give a successful presentation in front of a group of potential investors what could that be potentially worth to his client?
(It could potentially be worth millions of dollars or more.)
And that brings me to the purpose of my column this week.
If you want to increase your sales and profits it is helpful to have what I call a Rolls Royce Service Offer for your clients.
A Rolls Royce Offer has three components.
1: It is expensive.
2: It helps a client to achieve a specific outcome that is hugely beneficial to them.
3: It is not for everyone
Let me give you a simple example:
Imagine that a you are a business consultant and that you are terrific at helping your business clients to hire amazing sales people to work in their business.
Now what is it worth to many of your clients if they can hire an amazing salesperson for their business?
And on the flip side what will it cost them if they hire an average or even poor salesperson for their business?
In many cases a terrific sales person can easily produce another $50,000 to $100,000 of new profits for a business after all the costs of employing the salesperson are covered.
It could also cost a business at least $50,000 in lost profits plus additional costs and expenses in getting rid of a poor performing sales person.
So what would happen if you put together a six week programme that cost $5,000 per client and the programme guaranteed that it would help owners of certain types of businesses to become great at hiring terrific salespeople for their business.
Would a programme like this be an attractive investment for some of your clients or potential clients?
Of course it would.
A big advantage of having a 'Rolls Royce Offer' is that you can add huge value to a small number of clients and get paid a lot more than what you would make from just providing your normal services.
Now you don't have to be a business consultant to have a Rolls Royce Service Offer.
You just need to have a service option that is more expensive than your normal service and appeals to a small group of potential clients.
Here's an example:
I received a flyer in the mail recently from a local car dealership that I had purchased a new car from a few years ago. They have opened up a new service centre close to where I live and wanted to offer me the opportunity to have my car serviced in only one hour.
They would have two technicians working on my car at the same time and they guaranteed that it would only take one hour to have my car serviced.
Now there was no price mentioned in this flyer however I am sure it will be more expensive than the normal service which often takes a lot longer than one hour.
The appeal here is for clients that want to have their vehicles serviced in only one hour.
What ever type of service you offer in your normal business it could be worth creating a Rolls Royce Service Offer for a small number of clients.
"You have to think big to be big." - Claude M. Bristol
What key outcomes that are hugely valuable do some of your clients enjoy by using your services?
2: How could you put together a Rolls Royce Service Offer that is more expensive than your normal service and would help them to achieve at least one of these hugely valuable outcomes?