Meeting and wooing new clients carries the same pitfalls (and then some!) as meeting a new boyfriend or girlfriend. A dating wingman is a common method or tool used in today’s dating scene – or so I’m told by my footloose and fancy free acquaintances.
Afflicted with a strange fascination I’ve studied this behavior, much as a biologist might study the mating dynamics of platypuses. In the best sense of the word, a wingman is there to boost your confidence, provide feedback, and help you achieve your goal. When we meet and woo business prospects there is the temptation to undervalue ourselves, becoming our own worst enemy as we seek to win new clients and grow our business.
Failing to Value Yourself, Your Products, and Your Services Will CRUSH Your Profit
This post is part of the monthly Word Carnival where a group of entertaining #smallbiz experts blog with a storytelling twist. This month we’re tackling Valuing and Charging What Your Work is Worth.
Now let’s talk
turkey bacon. Here are the top three ways a Profit Wingman can boost your bottom line.
Profit Wingman Benefit #1 – Won’t Let You Forget Your Value
You’ve managed to connect with a great prospect. Now the moment you dread and desire has arrived. The prospect asks
“What do you charge?”
Your mouth goes dry. You heart beats faster. This is it. The moment you’ve been waiting for. You really want this client, what better way to seal the deal than offering them an amazing price?
You know what you should charge. You know what you need to charge to make your profit goals. But you still want to lowball the offer. As you open your mouth to offer a deal so low the prospect will question your sanity your Profit Wingman bursts into subtle action. Yes, if you’re wondering, you can burst into subtle action. Work with me here.
Where was I? Your Profit Wingman takes action. It might be a subtle cue the two of you agreed upon, a cue reminding you to stay strong. It might be a broad statement around the value of services, or your Wingman may even offer up a price point before you can gut your own company’s profits.
Their mission is clear. A Profit Wingman ensures everyone, including you, appreciates your value.
Profit Wingman Benefit #2 – Coaches You On Techniques
How do athletes improve and gain confidence? Practice and coaching.
A Profit Wingman can observe you in action and provide feedback. Let’s take the scenario pictured above with Fluffy the Finance Feline and Maxine the Math Mutt. While talking with her first connection of the event Maxine keeps leading the discussion back to the competitiveness of her price and the (standard!) features she offers. Maxine is turning her service into a commodity, and commodities are a race to the bottom.
Being on the spot Fluffy can ask a leading question such as,”What is the usual impact on the profit of your clients?” or “What can a new client expect to see in increased sales?” Fluffy (the Profit Wingman here), can also give Maxine the feedback as soon as the discussion ends to focus on the top or bottom line impact the client can expect. After the event Maxine and Fluffy can even role play a few scenarios, raising her confidence and perfecting her technique for the next event.
Profit Wingman Benefit #3 – Sings Your Praises to Prospects
No one likes to listen to someone rave about themselves. And most people are uncomfortable shilling their latest accomplishments like a late night infomercial.
A Profit Wingman can share your success stories to save you the appearance of an oversized ego. Your prospect hears a third party endorsement, which is far more believable. Even though it’s your buddy talking, when you hear them talk you up it will boost your confidence too.
Be sure your wingman knows your most relevant successes to the those at the event.
Are you ready to charge what you’re worth? If you need help knowing what the right price is, or what price will earn you the income you deserve, check out my Rock Your Profits eCourse.
Fun Fact: male platypuses have venom in their ankle spurs. I haven’t decided yet how that relates. Sound off below on getting your Profit Wingman, venomous creatures, or your biggest hurdle to self-confidence in your prices.