Sales

How To Sell Your Services At A Higher Price

April 20, 2020 by Dan Lok

One of the secrets to building a successful business is learning how to sell your services at a higher price. However, this can prove to be challenging in today’s saturated market. If you are like most entrepreneurs, you understand that it can sometimes be difficult to read and handle your prospects. While some relationships are smooth sailing, others are rockier and require a lot more finesse.

Every prospect you encounter will be unique. Some will understand your value proposition from the start, while others will be quite stubborn. Why do you think this is? The answer is simple. It’s very easy for your prospect to compare your services to that of your competitors. They think that if someone else is offering the same service for a cheaper price, why can’t you too?

For example, let’s say you are looking to purchase a cleaning service for your home. You reach out to five different businesses in your town, and they all tell you they can do it as soon as possible for a great price. How do you know which cleaning company will provide you with the best service? This question is the reason why businesses compete to win their clients. Whether you are selling to other companies or to consumers, selling services involves selling yourself and your team’s expertise.

Bob Hooey, accredited speaker and author said:

“If you are not taking care of your customer, your competitor will”.

Start by Looking at Your Prospects

Learning how to sell your services at a higher price is a difficult feat to overcome. If you do a quick Google search, you would see that many publications begin to answer this question by suggesting you work for as many clients as possible and build a good reputation.

We couldn’t disagree with this idea more. Imagine short-selling yourself just to earn more business. Do you really think this is the way to prosperity? Of course not.

So you might be asking yourself, how can I sell my services for a higher price? The answer is right in front of you. Take a look at your prospects – do you see something they all have in common?

That’s right, you got it – prospects are human too. This means that they also think in a rational way. In order to earn their business, you need to connect with them on an emotional level and make it clear why you are worth what you say you are.

If you want to charge more for your services and ask for what you are worth, you need to change your mindset of how you communicate with your prospects. In this article, we will cover three powerful tools you can use when learning how to sell your services for a higher price.

1. Perfect your pitch

The first step you can use when learning how to sell your services for a higher price is to perfect your pitch. This has to be the most important asset any sales professional can have.

The challenge is, many businesses sound the same as their competitors. More often than not, they only differ by offering their services at a lower price. We already learned that this is not the way to go.

Let me ask you a question. Do you think the market is oversaturated with businesses right now? A recent study by Statisca concluded that in March of 2019, there were 774,725 service businesses in the United States that were less than 1 year old.

This staggering statistic should not scare you. Instead, it should motivate you. Why? Because despite there being over 700,000 service businesses out there, it’s possible to be a leader in your niche.

You are Not Selling the Problem, Not the Solution

You see, we live in a world where our prospects are bombarded with cold calls and advertisements every single day. Is your game plan to treat your prospects the same way your competition treats them? Is your game plan to have your well thought out pitch be thrown away in the garbage? Don’t make this mistake.

When learning how to sell your services at a higher price, you need to find a way to bridge this communication gap. You need to convince your prospects that you are not like everyone else. So how can you do this? It all starts off by building a relationship with them.

You are selling the problem, not the solution. Share on X

Prospects are not looking for a solution, they are looking for a way to buy themselves out of a specific problem. For example, let’s say you are a freelance copywriter. What problem are you trying to solve? You could say: My name is Susan, and I write research-driven content that is strictly focused on helping businesses get results.

This is how to sell your services at a higher price. Are you ready to craft your perfect pitch? Below we are going to show you how. Let’s get started.

How To Sell Your Services at a Higher Price

When learning how to sell your services for a higher price, your first impression should be your primary focus. Instead of lowering your price to match your competition, craft a stellar pitch to show your prospects why you are worth it. Here is the four-part formula to writing a stellar pitch:

Scarcity

When you hear the word scarcity, what’s the first thought that comes to your mind? We think about something that is highly in demand, but is limited in its availability. Prove to your prospects that there is no one like you in the market. And if they want to do business with you, they need to act now.

Exclusivity

How can you incorporate exclusivity into your marketing strategy? A simple way to do so is to include words that trigger a feeling of urgency or demand. You definitely aren’t the only service provider in the entire market, and probably not the best. But this doesn’t mean that you can’t advertise yourself to be if you believe you can deliver on the value.

Value

When learning how to sell your services at a higher price, you need to know your competition better than your prospects do. If you are charging your customers $500 an hour for your services, explain how you got to that number.

Results

Do you remember what we said earlier in this article? Your prospects are looking to solve a problem, not find a solution. What results can you promise to your prospects? If you have run successful campaigns in the past, don’t be scared to share those results.

Albert Einstein, German physicist and theorist once said:

“If you can’t explain it simply, you don’t understand it well enough”.

So you’ve perfected your pitch, the next step is to deliver it to the market. Are you ready?

2. Practice Asking for Higher Prices

The second step you can use when learning how to sell your services for a higher price is to practice asking for a higher price. In the previous section of this article, we broke down the components to crafting a stellar pitch. Now you need to prepare yourself to deliver that pitch to the market.

There are three kinds of prospects:

The few who know everything
The handful that know next to nothing
The majority who know just enough to be dangerous

Out of these three personas, which one do you think is your target audience? That’s right. Your target audience is the majority who know just enough to be dangerous. Why? Because they understand what they are looking for and know what they are talking about.

While this may seem a bit counterintuitive, you want to sell your services to these prospects because you can easily build a connection with them. It also allows you to leverage a very useful tool Dan teaches to all of my students. What is it? It’s called taking control of the conversation.

Take Control of The Conversation

Because you are asking for a higher price, there is a very good chance you will need to close some of your prospects over the phone. However, this should not change how you deliver your message.

The second you let the prospect take control of the conversation, you have lost out on that deal. This means you should take the time now to master your pitch, anticipate questions, and prepare answers for your sales call. Jim Rohn, American entrepreneur and author said:

“Either you run the day or the day runs you”.

Here’s the truth. When learning how to sell your services at a higher price, you need to prepare for everything. In the business world, preparation is king. In fact, if you have as many possible responses as you can think of memorized for when the prospect brings it up.

Does this mean you’re not open to negotiation? Of course not. This just means that you have the tools to be in control of the conversation and steer it in the direction you so choose to.

Three-Step Formula to Perfect Your Craft

When learning how to sell your services for a higher price, asking for more can sometimes be intimidating. Below we have outlined three exercises you can do to help you prepare for a successful sales call.

Practice in front of a mirror

To prepare for this moment, practice your pitch in front of a mirror. Take notes of your body language, your facial expressions, and the tone of your voice. Do these features exude confidence?

If you are closing a prospect in person, pay attention to what you do as you speak? What are you looking at, what are your hands doing, what emotions are you showing?

Record yourself

As you practice asking for a higher price, record yourself. When you listen back to the recording, ask yourself if you sound confident or not? State the price you want loud and proud, don’t show any signs of uncertainty.

If you are looking to ask for $500 for an hour of your services. Make sure you don’t sound nervous. Ask for the $500 as if you were asking what the weather is today. Show your prospect that you are confident in the value you bring to the table.

Practice until it becomes second nature

Once you’ve figured out exactly what you are going to say, and how you are going to present it, practice asking for a higher price until it has become second nature to you. A recent study by Very Well Minded concluded that practice accounts for about 80% of the differences between elite and amateur performance.

This is a strategy Dan Lok has used to help him retain the highest level of productivity each day. Once you’ve mastered your pitch, and are confident in asking for a higher price, what’s the final piece to the puzzle?

3. Build a Bullet-Proof Pricing Model

The third and final step you can use when learning how to sell your services for a higher price is to build a bullet-proof pricing model. If you have prepared and delivered an exceptional pitch, this is the final step you need to ensure you have a prosperous career in the service industry.

What do you think a bullet-proof pricing model is? Let’s look at an example. What if your goal was to make $100,000 this year. Here are three possible options for you to choose from:

Provide a service to 1,000 clients and charge them $100 each
Provide a service to 100 clients and charge them $1,000 each
Provide a service to 10 clients and charge them $10,000 each

Which one of these options looks best? We prefer to provide a high-quality service to fewer clients and in return charge more. Why? Because everyone in the market has a limited amount of one thing – time.

We each only have 24 hours in a day. Would you rather be frantically looking at trying to close 3-4 clients a day in order to meet your quota, or would you rather just have to close one client a month?

The answer here is simple. And in order to get to this level, you need to get high ticket clients. This is how to sell your services at a higher price – get clients that earn and pay a higher price. So you might be asking yourself – how can I do business with these high ticket clients?

The Art of High Ticket Closing

In order to close a high ticket client, you must learn the art of being a high ticket closer. These are not sleazy salespeople who want to make a buck, these are professionals who want to provide exceptional service.

As a high ticket closer, you don’t chase clients. Instead, clients come to you. Why? Because you are positioned to serve those who have high business standards and integrity. What would it mean to you if you could close significantly more deals with much less effort?

With these three powerful tools, you can become an unstoppable force in your niche. If you’re ready to make this year the most successful year of your life, now is the time to get started. The power is now in your hands.

Summary

One of the secrets to building a successful business is learning how to sell your services at a higher price. In this competitive market, some prospects will understand your value propositions while others will be quite stubborn. In order to bridge this gap, you need to earn their respect and prove your value to them. From there, it’s essential that you set up a pricing model that fits your business needs.

Here are three powerful tools you can use when learning how to sell your services at a higher price.

Perfect your pitch

Many businesses sound the same as their competitors. In order to be a leader in your niche, you need to bridge this communication gap and convince your prospects that you are not like everyone else.

Practice asking for higher prices

It’s much better to be over-prepared than underprepared. Take the time to practice your pitch over and over again until you have mastered it. Anticipate questions your prospects may ask and prepare professional answers.

Build a bullet-proof pricing model

If you want to provide high-quality services to fewer clients, this is the way to go. This simple model utilizes the art of high ticket closing so you can position yourself to work with the highest quality clients.

Dan has prepared a masterclass just going over how you can use a high-income skill to transform your life and your business. If you’re ready to learn how millions of Dan Lok’s students have mastered this lucrative skill, click here to start now.

How Come My Customers Don’t Trust Me

April 16, 2020 by Dan Lok

“How come my customers don’t trust me?”

In any kind of relationship, trust means everything. It’s one of the most valuable currencies exchanged among humans. And the truth is, you should always assume your customers don’t trust you. In fact, they will not trust you until they have a good reason to trust you.

You can’t exactly blame them for their lack of trust in you or your brand. If you think about it, we can never be sure if we’re dealing with a good guy or a bad guy. There’s always a lingering shadow of doubt in every decision we make to trust.

Even as a child, we’re taught to stay away from strangers, which reinforces that doubt early on. And in the case we did meet a stranger, the rule was to always say, “No.”

But even under those circumstances, we also know trust is a powerful lubricant that enhances the right relationships with people. Everyone from top business leaders to academic researchers celebrate the power and virtue of trust. But if that’s the case, it still doesn’t answer the big question: “How come my customers don’t trust me?”

In this article, we’ll take a deeper look at why customers don’t trust you, how it affects businesses and brands, why it’s important, and what you can do to build trust. So let’s get started.

The REAL Reason Why Customers Don’t Trust You

Contrary to popular belief, the reason your customers don’t trust you actually has less to do with you and more to do with them. And here’s why. The human brain is not as reliable as we think it is. It’s really good at keeping us alive and maintaining our survival. But when it comes to making decisions, it doesn’t always act in our favor.

Like most people, we rely heavily on emotions when we make decisions. And unfortunately, we can make some terrible decisions based on our emotions and how we feel. According to a Harvard Professor, 95% of all our buying decisions are driven by the subconscious mind.

It doesn’t matter how much you compare different options in the marketplace and logically think through your buying decision. The reason you buy is largely influenced by your emotions. And you justify those decisions with logic.

For example, let’s say you once hired someone to help you invest in some stocks. They say they can 10x your ROI in a matter of a few weeks. The idea of making more money catches your attention so your brain serves up a bunch of reasons why it wouldn’t hurt to give it a try. But before all the justification, you actually already made your decision based on greed.

Now, after you paid this person to help you out, you later realized they didn’t do as they promised and refused to return your original investment. You go home frustrated and upset about the whole incident. And you tell yourself you’re not going to make this mistake again.

But is that really true?

Emotions Influence Your Decisions More Than You Realize

It turns out our emotions influence our decision making process more than we think. Even after you’ve thought through your mistake, relaxed and thought about it a little more, the same emotions will still influence your choices days, weeks, or even months down the road.

So let’s say you’re now shopping for some online courses on photography. But for some reason, you still feel the need to put your guard up and you’re not sure why.

The same feeling you felt after making that bad investment causes you to put your guard up again. It doesn’t matter that you’re buying something entirely unrelated. Your memory of those emotions is like a standard for future decisions.

So when you want to make another purchase, you can’t help but be wary because you know what it feels like to take on those risks. You know what it’s like to lose trust in a person. And those emotions are ingrained into your subconscious mind.

This happens all the time and sometimes they’re emotions you don’t remember. Well, your customers often experience the same thing. It is one of the main reasons why it’s hard for them to trust you. The next time you ask, “How come my customers don’t trust me?”, you’ll know why.

Consumer Trust Can Make Or Break Your Brand

Have you ever come across a brand or even a personal brand you were very loyal to? Maybe it’s a brand that you identify with. Or maybe you really resonated with a brand’s message.

This is not a coincidence. Great brands and businesses understand the power of customer trust. It is in a sense “the life force” of a brand because people buy people. They buy from those they like, know, and trust. And that’s what makes a brand so powerful.

A customer’s trust in a brand is more important today than ever. There is so much noise in the marketplace and people are bombarded with so many options, it’s impossible to count.

Before the rise of the internet, people often only had to choose among a handful of brands. But now, they’re forced to choose from a global mix of thousands upon thousands of different brands. As a consumer, they’re trying to figure out who they can trust. From a brand perspective, how can you differentiate yourself from the mix? What makes you stand out?

Tung Cheung / Shutterstock.com

Apple’s Secret Sauce To Brand Loyalty

Here’s a perfect example of a brand that knows how to stand out: Apple.

With every new iPhone or Macbook Apple introduces to the world, there are millions of shoppers who can’t wait to get their hands on these products. But while many of Apple’s devices come and go, there’s one thing that never changes and it’s Apple’s secret formula for great brand trust.

Apple’s super-power is their ability to build relationships with people. But we’re not just talking about their customers. We’re talking about “their people” – the people they work with. The way Apple trains their team to engage with their customers is their secret to building trust.

Here’s how they do it. They used The Ritz-Carlton way of effective communication and tweaked it to fit their brand. Their employees are trained to follow this five-step acronym called A-P-P-L-E from the moment a customer walks into the store and the moment they leave the store.

Approach customers with a personalized warm welcome

Probe politely to understand the customer’s needs

Present a solution for the customer to take home today

Listen for and resolve issues or concerns

End with a nice farewell and an invitation to return.

Carmine Gallo, a senior contributor at Forbes, has studied the Apple Store Brand and has spoken to many former Apple leaders. And he believes the APPLE acronym works well because it doesn’t label the customers as “consumers.” It presents them as people.

So when “people” walk into the Apple Store they’re buying from someone who makes them feel special. They’re buying from someone who takes the time to give them a unique and personalized experience. And that’s what drives people to come back for more.

3 Rules For Building Strong Trust With Customers

When you ask, “How come my customers don’t trust me?”, a lot of it has to do with learning about human psychology. Simon Sinek said it best, “if you don’t understand people, you don’t understand business.” And he’s right. Because on an emotional level, people do not want to buy stuff.

They’re not buying their way into something. They’re buying their way out of something. For example, people buy gym memberships because they want to lose weight. Or they decide to go on a cruise vacation to escape their stressful work environment.

But beyond that, they want to build relationships with people they can trust and can help them achieve their desires. This need for trust is actually deeply ingrained into human DNA.

According to the Harvard Business Review, “It all starts with the brain. Thanks to our large brains, humans are born physically premature and highly dependent on caretakers. Because of this need, we enter the world “hardwired” to make social connections…We’re social beings from the get-go: We’re born to be engaged and to engage others, which is what trust is largely about.”

Today, more and more business leaders are asking this question: What do my customers want? And they very well should. We live in a time where people expect more and demand more. But what they want is not more stuff. What they want is an experience rooted in building trust.

Here are three rules to help you build strong trust with your customers.

Rule 1. Focus on Developing Trust with the People That Matter The Most

According to the wise words of Simon Sinek, “The very survival of the human race depends on our ability to surround ourselves with people who believe what we believe. When we’re surrounded by people who believe what we believe, something remarkable happens: Trust emerges…

Trust is a feeling-a distinctly human experience. Simply doing everything that you promise you’re going to do does not mean people will trust you. It just means you’re reliable. Trust comes from a sense of common values and beliefs…

And the reason trust is important is because when we are surrounded by people who believe what we believe, we’re more confident to take risks. We’re more confident to experiment, which requires failure. We are more confident to go off and explore knowing that there is someone we trust and who trusts us, will watch our back.”

Most people would agree that your customers are the people that matter the most. You always hear people say your customers should be a priority and they should always come first. And it’s true. They are important but they’re not the most important.

The people that matter most are the people you work with – your team. They are the reason your business can function every day. Without them, you wouldn’t be able to run the business much less grow it. So in order to build trust with your customers, you have to build trust within your team and put their interests ahead of your own.

What Navy SEAL Team Strategies Can Teach Us About Trust

Let’s say you’re a member of the Navy SEAL. You and your team are on a mission to attack a target. Before you go attack, you send one of your teammates to go scout the area to see how many enemies are out there. They come back and tell you there are only five enemies in the area. You trust the information and plan to send out only three people. But when you and your three teammates get there, you realize there are actually ten enemies.

Even though you trusted the information wholeheartedly, you don’t have time to go get extra backup so you head in any way. But knowing you’re outnumbered, you tell your team, “Someone’s going to die. Not everyone is going to come back because someone will have to make a sacrifice.”

Now you have one of two choices. As the leader, you could sacrifice the life of one of your teammates and tell them to go get shot. If you do that, then the remaining two members will refuse to follow you and the mission will be over. Why? Because you chose to put your life ahead of the team and broke the trust. When you break the laws of trust, you no longer have the right to ask, “How come my teammates don’t trust me?”

The second option you have is to tell your team, “Hey guys, chances are some of us are not going to make it. I don’t know what’s going to happen but here’s what we’re going to do. This is the plan. So we have ten enemies. We have this much ammunition and we’re going to take these positions. But I’m going to be leading from the front and I’ll be the first person to step outside this door. We’re going to be in the middle of bullets and bombs but this is the best plan I can define. I want to get us home safely but I cannot guarantee it. So are you with me?”

If everyone comes back safely, then great. If there’s a casualty, then you did your best. But as a leader, your chances of survival are highest if you are the first one to lead the team out and everyone works together.

The same principle applies to any business. When you put your team’s interest ahead of your own, you’ll be able to build trust and loyalty among your team. And when you have the support of your team, you’ll have an easier time earning trust from your customers.

Rule 2. Cultivate Consumer Trust Through Transparency and Authenticity

People have greater expectations and demand more transparency from brands. Studies have shown that 94% of people say that a brand’s transparency is important to their purchasing decisions.

But if there’s one thing people have in excess supply, it’s choices. They have the option to buy on their own terms and timetable. They can buy whatever they want, wherever, and whenever.

The downside is that it leaves more room for people to make bad buying decisions which then leads to distrust. And the bright side is that you can establish yourself as an authority brand by being honest and transparent.

This simply means educating your customers with reliable information and helping them come to their own informed buying decision. This is how you stand out from the crowd and establish what you stand for.

Southwest Airlines sets a great example of being transparent about their values and beliefs. They’re one of the major U.S. airlines and pride themselves on being the world’s largest low-cost carrier.

They ran a marketing campaign back in 2015 called “Transfarency” to demonstrate their promise to their customers. The promise to treat their customers honestly and maintain their low-price fares.

But they don’t stop there. They also added storytelling to their “Transfarency” campaign. And storytelling is one of the most powerful ways to connect with people on an emotional level.

Southwest Airlines’ vice president and chief marketing officer, Ryan Green, said, “We’re focused on telling customer-centric stories. In addition to talking about our unique differentiators, we want to show customers why we do business the way we do.” The “Transfarency” was so successful it gathered nearly 5 million likes on Facebook alone.

As a brand, if you can communicate your message in a way that people can feel your honesty and transparency, you’re more likely to gain their trust. So before you jump the gun and ask yourself, “How come my customers don’t trust me?”, you should go back and look at how you’re communicating your message to your customers.

Rule 3. Commit to Consistency At All Times

How would you feel if you walked into a Starbucks and the barista got your iced, ristretto, 10 shot, venti, with breve, 5 pump vanilla, 7 pump caramel, and 4 Splenda wrong?

You might say to yourself, “My order is super complicated anyway.” And you’ll continue to go about your day as if nothing happened. Now, what if you went to a different location the next day and the barista got it wrong again? You’ll start to feel a little uneasy.

A big part of Starbucks’ promise to their customers is that you will receive a customized beverage that perfectly suits your taste and dietary preferences. It doesn’t matter how detailed or complex your orders are, you can rely on Starbucks promise. But how many times would you be willing to accept inconsistency in your order?

You see, most people are very unforgiving. With the wealth of choices you have at the touch of your fingertips, you can switch from one brand to the next in an instant. You may have been loyal to Starbucks for years, but if the brand is inconsistent in delivering their brand promise, your trust in Starbucks could change very fast.

Branding is the best way to separate yourself from the crowd. But if you don’t consistently live up to it, you will lose customer trust and your branding efforts will be pointless.

So if you want to put an end to your concerns and stop asking yourself, “Why don’t my customers trust me?”, you need to focus on consistently delivering your brand promise throughout your customer’s buyer journey.

It’s Not Too Late To Regain Trust With Your Customers

If you’ve read this far, you can probably see that the dynamics of trust are very delicate. It’s easily lost when we feel hurt or betrayed by another person’s actions. But in the same way, it can also be regained by understanding how you can rebuild trust.

Being reliable, transparent, and consistent are all essential to regaining trust with a customer. But without effective communication, it would still be challenging to accomplish. Establishing trust comes back to being able to listen and to ask the right questions so you can figure out why customers don’t trust you and how you can go about fixing it.

If you want to find out how you can leverage the power of effective communication so that you never have to wonder why customers don’t trust you, then click here to get the Perfect Closing Script.

How To Pitch To Investors When Seeking Funding To Scale Your Startup Business

February 18, 2020 by Dan Lok

Looking to scale your startup business, but need funding in order to do it? Knowing how to pitch to investors will make the process smoother.

If you want to know how to pitch to investors, there is a harsh truth that you need to be aware of. Like everyone on this planet, they are tuned into the radio frequency WIIFM, which stands for What’s In It For Me? Investors are only interested in providing you with funding so that they can get a return on their investment.

Investors want to make money. They do not care about your passions or your dreams. To them, you are just a risk they are considering investing in, in order to make more money.

That means if you want to successfully convince an investor to give you funding to scale your startup business, you need to cater your presentation to that aspect. Your investors will have doubts, fears, and questions about whether or not they can trust you. If you can overcome all of these doubts and objections in their minds, they will be more than happy to give you what you are looking for.

Get Clear on Why You’re Pitching in the First Place

If you want to learn how to pitch to investors, you need to get clear on why you are presenting in the first place. What is the goal of the presentation? What outcome are you looking for?

When you plan ahead and know the ‘why’ behind your reason for presenting, you will be able to much more effectively communicate that to your audience. The investors you are pitching to could have seen hundreds of presentations before yours. If you can’t clearly and effectively communicate why they should provide you with funding, the chances that you’ll do business together are very slim.

Do you have a vision of where the company will be in a few years? What are your next steps once you acquire the funding? Communicating your plan to the investor is very important to influencing them to fund your startup business. Your investor does not trust you nor know who you are. By presenting a detailed plan to them, it shows that you have done your research, and you know what you are doing. You are giving them reasons to believe that you will become successful, and that their money will not go to waste.

When you have clarity on what you want, communicating it to others is very easy. All that’s left is to overcome their objections by presenting a well-organized plan of how you both can succeed. The most important factor when learning how to pitch to investors, is that when your audience has no reason to doubt you, they’ll be inclined to say yes.

Make them an offer they can’t refuse. - The Godfather Share on X

Who is Presenting is More Important Than What is Being Presented

Have you ever sat through a presentation that made you bored out of your mind? Chances are, the speaker spoke in a monotone voice, or exhibited low energy in their presentation. The speaker bored you to death.

If you want to know how to pitch to investors, you’ll need to make sure your presenter makes a good impression. If you are not a good presenter, get someone else to do the pitch, who is good at presenting.

Remember: It’s not about the offer, it’s about the person who’s presenting it. Someone who demonstrates charisma, passion and energy for what they believe in, will come off as someone who is trustworthy and entertaining. Your audience is not just judging the business, but also the people who will be running the company. And if they perceive the CEO or marketing team to be sloppy, they’ll think the same way about your offer.

That’s why making a good first impression is crucial to build rapport with an investor. For them, it’s not just about making a good ROI, it’s also about who they are working with. Successful business people know that there’s nothing worse than dealing with someone who is difficult to work with. And if they sense the two of you won’t be a good fit, you won’t get the funding you need.

If you want to successfully learn how to pitch to investors and scale your business, you need to come off as someone they can trust. That means the way you look, talk, act and move all needs to be aligned with that image. If you get nervous during presentations or freeze up and forget what you wanted to say, that means you haven’t practiced enough.

Practice Until You Are Sick Of It, Then Practice Some More

Having difficulty with presentations or have trouble getting your thoughts across clearly means you haven’t practiced enough.

When I first started doing public speaking, I was terrible at it. Like everyone else, I had stage fright and often got nervous when speaking to a large audience. But as time went on, I realized the reason why I got nervous was because I was not ready. I didn’t put in the work to prepare before the speech, and tried to wing it like everyone else. The problem was that I lacked the confidence to deliver an outstanding performance, because I did not rehearse enough.

So instead of making excuses, I practiced for hours each day, in front of a video camera, to perfect my presentation. My advice for you is to film yourself while presenting. It allows you to see how your presentation would come across to members of the audience. And if there’s certain parts of your presentation that you are not satisfied with, you can be sure your audience is going to feel the same way.

You may feel awkward watching yourself present, but it is the fastest way you can correct your flaws. After all, no one can spot your mistakes better than you can. Think about it as a way for you to see what is wrong, and correct it so you can continuously improve. I guarantee that if you practice and really focus on improving every part of your pitch, your first time presenting will be drastically different from your 20th time doing it. And when you’re finally giving your pitch to an investor, you’ll be more than ready to deliver your lines.

Practice makes perfect. If perfect means getting the funding to scale your startup business, would you be willing to practice?

Why The Best Candidate For Presentations Is Yourself

It may be tempting to simply delegate the task of presenting to another team member and skipping over all that practice, but when it comes to pitching to investors, the CEO and founder should be the ones presenting. As long as you are a good presenter, that is. And if you’re not good at it, perhaps you could learn.

Wondering why the best person to pitch is you, the founder? This is for two reasons:

First, your investors are going to have questions, and you’re the best person to answer those questions. Imagine the scenario where the investors ask if your team member is the CEO, and they reply with no. What do you think your audience is going to think?

“The CEO of this company can’t even show up to their own presentation? Do they even care about their own success?”

Second, is that your team members won’t have the same knowledge as you do. As the founder, you know where you want to take the company in 1, 2 or 5 years. You know exactly why you are seeking funding, why you’ve gone to them instead of everyone else, and why if you two decide to do business, that you can make it a win-win situation for everyone involved.

Your team members won’t have the same knowledge or passion that you do. Like your audience, they are also tuned into WIIFM, and only care about what they have to gain – which is most likely a paycheck. They lack the experience and vision that you as the founder possess. And unless the team member presenting has equity share in the company, they will most likely not demonstrate the best version of themselves during the presentation.

Some aspects – such as passion and vision, cannot be delegated. It’s one thing to have a veteran salesperson do the presentation – it’s another for the founder to take the initiative and do it themselves.

Use The Future as Negotiation Leverage

If your startup business isn’t currently at a point where it can be ‘shown off’, use its future potential as a bargaining tool. Correlating where your company will be a few years from now, is another strategy on how to pitch to investors.

For example, let’s say you sell teddy bears and your business revenue per year is $200K, with $30K as profits. To an investor, they may think your annual numbers are far too low for them to provide you with the funding. He’s impatient and wants to get his money back within a year of investing. But at the rate your company is growing, it’ll take more than 20 years before he gets his return on his investment.

If you currently lack results, you can paint a picture and make them imagine what it would be like if they did invest. For example, if they decide to provide you with more funding, it would allow you to use that funding to increase your production line and sell more bears. Now, that $30K in annual profits could rise to $100K, shortening the time it takes for the investor to make back his money.

Being able to form an image, a vision of where the company could be in the next couple of years is a powerful tool that many successful entrepreneurs use in their lives. This is called visualization, and it allows entrepreneurs to imagine a desired scenario. Once the entrepreneur has an image of what they want, they can then go after it. And if you’re familiar with the Law of Attraction, you’ll know that whatever you can conceive, you can achieve.

You can use this visualization trick to convince investors to provide you with funding. Convince them that the only thing holding your business back from becoming the giant success that it is, is finding an investor who is willing to provide the funding.

Be Willing To Take The Lower End Of The Bargain

One of the problems holding many entrepreneurs back from getting the funding to scale their business, is that they aren’t willing to settle. Besides knowing how to pitch to investors, the other part of your presentation is going to be about negotiation. Imagine that you have 100 balls in front of you. These balls are to be divided amongst you and the person you are doing business with – the optimal outcome being that you get half of the balls and they get half of the balls. It’s a fair 50-50 ratio.

However, in reality this rarely ever happens. The person with the most leverage – AKA the person who is less needy, usually walks away with more balls than the other person. In the situation where you are a startup business and are looking for funding, the investor has more leverage and can call the shots. The investor is aware that he has the upper hand in the negotiation, and will use it to collect more balls – a 40-60 or 30-70 ratio.

To some entrepreneurs, they may be happy with this deal if it means they get what they want. As long as they get the funding they need, they are willing to take the shorter end of the bargain. But for some entrepreneurs, they don’t like the fact that they are being taken advantage of. As a result, they’ll say no to every single deal and opportunity that comes their way, not realizing that if they would just accept taking the shorter end of the bargain for now, they could have much more to gain in the future.

Remember: Settling does not mean taking the lower end of a bargain forever. You are simply enduring the terms and conditions now, to give yourself an opportunity for re-negotiation later on in the future.

Opportunities multiply when they are seized. - Sun Tzu Share on X

How to Pitch to Investors Using Storytelling

Storytelling is a powerful way to get your point across without sounding like you’re lecturing your audience. Lectures are boring, but stories are compelling. Humans are wired to do things based on emotion, not logic. For example, why are so many people spending $10,000 on a diamond ring, when they are never going to use it again afterwards?

Storytelling allows you to convey your emotions to your audience in a very effective and entertaining way. Especially when it comes to giving a pitch to investors, you want to do everything you can to stand out from everyone else. If you incorporate your emotion and passion into a well spoken story, you will be able to captivate their attention like no one else.

For example, here is a story you could tell that provides your investor with information about who you are, the history of the business and why you need funding:

“2 years ago, when I was in college I realized there was an ever growing problem of men who did not shave. You could see men with stubble and 5 o’clock shadow sticking out in plain sight, as you walked down the hallways. Everyday, my professor would come to class with a thick, grotesque beard. And even I was a victim of this fashion frenzy during times of extreme stress.

One day, I realized I had enough of seeing other men and their unsightly beards. That’s when I decided to make two life-altering decisions:

I dropped out of college
And pursued my dream of creating men’s grooming products

With my friend, who also had problems keeping his beard under control, we founded the company Shave It Off, where we currently provide quality shaving products to men across 30 different countries worldwide.

Our company has been growing faster than we’ve ever imagined, and now we’ve run into a problem only you can help us with: we need funding. Our revenue and profits are currently bottlenecked by our lack of delivery trucks, and as a result we need more funding to buy more trucks. By doing so, we can deliver more products to men all over the world, to help them get a clean shave every single time.”

Now imagine if you didn’t put that into a story, how much less entertaining would that sound?

“2 years ago I dropped out of college. I hated beards, so me and a buddy found this company called Shave It Off. We sell shaving cream to guys around the world, because it makes a lot of money. We’re short on trucks at the moment, and need money to buy more trucks. Want to help us out?”

Captivate your audience by using storytelling in your pitch. You’ll be able to effectively communicate your side of the story, and inspire them to help you achieve your goals as well.

Facts tell, stories sell. Share on X

Get The Perfect Closing Script To Control Any Conversation

In any conversation you’ll ever have, there will always be some sort of push and pull. One person will always be trying to gain leverage over the other, through their words and actions. The person who ends up victorious, is the person who knows exactly what to say.

Those who lack business experience are often taken advantage of, and find themselves on the lower end of the bargain. The person you are speaking with can sense your inexperience, and oftentimes will use it against you to get the best deal for themselves.

However, when you know how to handle questions and objections thrown at you, you can shift the conversation so it flows in your favor. Having the intuition to tell where the conversation is heading and steer it in a direction that benefits you, is a crucial part in being able to influence others to do what you want and win negotiations.

If you want to succeed in business and learn how to influence people to do what you want, get the perfect closing script here.

7 Costly Mistakes In Your Sales Process

December 28, 2019 by Dan Lok

In a business, your sales process is one of the key structures that determines your revenue growth. It’s a proven series of repeatable steps from start to finish, outlining the closing of a deal.

Unfortunately, many business owners don’t have a proven sales process. In fact, ⅔ salespeople don’t follow a proven sales process when doing business. They use spur of the moment strategies to try to close deals, which never works well.

If you don’t plan for success, you’ll never achieve it. Companies that have a proven sales process outperform those that don’t, and having a proven sales process will help in closing more deals and securing more customers. If your sales aren’t doing so well and you’re looking to change things up, here are 7 Costly Mistakes to avoid in your sales process.

1. You Use Old Traditional Methods

The old methods of doing sales involve talking to a prospect, telling them the benefits of your product and then following up with them if they aren’t ready to buy. If you’ve ever tried this approach, you would soon discover it doesn’t work very well.

As time goes on everything evolves. Your old proven sales process may have worked before, but in today’s time it is now obsolete and replaced by newer strategies and methods. Customers can smell a salesman from a mile away, and if they feel they are being sold to, will quickly back off and go somewhere else.

Your prospects are getting smarter every year, as they encounter more and more salespeople every single day. They’ve been exposed to dozens of different marketing and sales techniques, and know them well. If you’re trying the same old tricks to get them to buy, they’ll know it immediately.

“The customer is not a moron. She’s your wife.” – David Ogilvy

The customer is not a moron. She's your wife. Share on X

2. You Have Salespeople, Not Closers

There are two kinds of people in sales: Salespeople and closers.

Salespeople are concerned only with getting the sale. To salespeople, they only succeed when the customer buys. And in order to make that happen, they’ll use every trick in the book.

However, your customer has been sold to so many times they know exactly what you are doing. If you try to use aggressive selling tactics or push them into buying something they aren’t ready to buy, you’ve just lost a potential customer.

Closers are like salespeople, except they don’t try to sell anything. Instead of doing what every other salesperson in the market does, the closer simply does two things: Ask questions and listens.

By asking deep questions and listening carefully, a closer is able to lead the conversation and the prospect to a close. Closers are in no rush to make a sale, and understand that if a prospect isn’t ready to buy now, they might do so in a few weeks. By not trying to push a sale, they leave an opportunity open for future business.

3. Unsure Of Your Desired Customer

Do you know what your optimal customer is like? Their needs, desires, objections, fears and worries?

Your desired customer is the type of customer you are targeting. In today’s world, people are bombarded 24/7 with advertisements, marketing tactics and commercials. Especially with the rise of technology and social media sites like Facebook, they see an ad every single day.

If your ad does not cater to their demographic specifically, it will be ignored. A banner targeting ‘pet owners’ will perform much worse than a banner that specifically targets ‘cat lovers’. Get very specific on who your customer is, and know them inside and out. That way, you’ll be able to handle any objections they have before they even open their mouth.

4. Your Leads Are Cold, Not Warm

Cold leads are every salesperson’s nightmare. Picking up the phone to dial a number to someone who’s never heard of you is going to frustrate both you and the person you are calling.

Warm leads on the other hand, are people who have already shown interest in your product or service. These people are much more likely to be more receptive towards your advances, as they are expecting it. Research shows that cold leads only have a 1-3% success rate. With warm leads, this number jumps up to 40%.

Instead of calling a stranger and interrupting their day, have them contact you instead. Remember that if you are calling them, you are a salesperson. But if they are calling you, you are the authority figure.

5. Neediness

If you are too eager to close a sale, your prospect can smell it. Neediness is one of the biggest turn offs to a prospect in business. It implies that you are desperate to make the sale, and will influence you to use pushy tactics in order to do so.

Neediness comes from not knowing your own value. During a prospect interaction, you want to be qualifying the prospect, not the other way around. You should be trying to find out if they can afford your services and if they’d be a good fit to work with. If all you think about is closing the sale, you might just get it – and end up with a difficult client.

When it comes to closing deals, have the mindset that it’s okay to walk away. You don’t have to close every single person you meet.

Have the mindset to walk away from a deal. It's okay to say no to a bad fit. Share on X

6. Spending Too Much Time On Trivial Tasks

You make money when you close. And to close a deal, you need to use that time to be selling. The problem is that most sales teams are spending too much time on tasks other than selling.

Things like data entry, sending emails and making phone calls (especially cold calls), take up valuable time. Instead of wasting time on these trivial tasks, delegate the task or better – automate it. Invest in software that automates these tasks, freeing up your time to sell and generate revenue. The amount of time saved that can be used to interact with prospects and build relationships far outweighs the investment required. Leverage time as your most important asset, as money can always be made back.

7. No Commitment And Poor Closing Ability

“I need some time to think about it.”

“Okay sure, when you’ve thought about it please get back to me.”

How many times has a prospect said this?

99% of the time when a prospect says they want to think about it they are saying no. They just don’t want to hurt your feelings, and instead say they need some time.

Think about it like this: If I offered you a million dollars right now, what would you say? Most likely you would respond with HELL YES! Could you imagine someone saying “I’ll think about your offer”? It makes no sense. If your prospect is truly interested in what you have to offer, there should be no hesitation. If they are hesitating, either you as a salesperson are not selling the product well enough or the prospect is not interested.

In fact, poor closing ability is one of the biggest reasons why sales are lost. 12% of salespeople are excellent, 23% are good, 38% are average, and 27% are poor. Every sale that is lost amounts to thousands in lost revenue a month, hundreds of thousands a year, and millions over a prolonged duration. Your proven sales process may bring results, but if your salespeople don’t know how to close, it is useless.

In the rare situation that a prospect truly needs time to discuss it with a business partner, you can ask them if it’s okay to follow up in a few days time. Set the date and time, to let them know you are expecting them to make their decision by then. By making your prospect give you a commitment, they are much more likely to follow through instead of wasting your time.

The One Thing Business Owners Lack In Their Sales Process

Business owners focus too much on their sales process. If they aren’t making enough revenue, they look to bring in more leads. If prospects aren’t willing to buy, they offer incentives like discounts and special deals. Some even go so far as to completely redo their entire sales process from start to end.

They focus all their time on these things, but forget the most important rule of sales. In sales it’s all about closing. Instead of trying to bring in more leads, increase your closing ratio. The more deals you close, the more revenue you bring in. The more revenue there is, the faster your business can grow. And the more your business grows, the more freedom you have to expand on things and try out new strategies.

Most business owners don’t realize it’s their sales teams ability to close that affects the sales process. They think the process needs to be changed, when in reality it’s all about the salesperson. Your sales team should be closing a majority of the deals they do – if they aren’t they need help.

Be a High Ticket Closer, Not A Salesperson

If you are unsatisfied with your sales team’s closing ratio, focus on being a closer instead of acting as a salesperson.

A closer does not sell. Instead, they lead the conversation in a way to get the prospect to close themselves. They do this by doing 4 things:

1) They find out your needs

They do this by asking questions and finding out what you’re looking for. This is known as pre-qualifying, to see if you and your prospect would be a good fit.

2 They find out your problems

The second thing closers do, is identify problems. For example, if you are selling B2B lead generation services, you want to find out how their leads are currently doing. Are they bringing in enough leads? Do they need warmer leads? Are they targeting the right people? Closers find out their problems so they know what to focus on.

3) They paint a picture

Once you find out their needs and problems, you paint a picture. “Could you see how X service could help you bring in more leads?” “How would warm leads help you with your closing ratio?” By painting a picture for them to imagine, you are allowing them to visualize the outcome of what would happen if they were to work with you, leading them closer to where you want them to be.

4) They close the deal

You know their needs. You’ve identified their problems. And you’ve shown them how your product or service can help.

If your prospect is truly interested, at this point they should already be ready to buy. There’s only one thing left to do: Close the deal. This is done by asking them one simple question.

And this question, is one that many inexperienced salespeople mess up – resulting in the entire conversation going nowhere. That’s why over the years, I’ve put together something called ‘The Perfect Closing Script’, that outlines the entire sales process and what to say from beginning to end. Forget old school sales techniques, hard selling and proving to the prospect why you are the best choice. The Perfect Closing Script turns the tables and makes the prospect do the talking – they give you the answers to their own questions. If you want to know more about the Perfect Closing Script, click here to learn more now.

How To Use The Process Of High Ticket Closing In Your Business

December 17, 2019 by Dan Lok

High ticket closing is the one skill that an executive, entrepreneur or business owner unquestionably needs if they want to take the success of their business to the next level. The process of high ticket closing, once mastered, can dramatically increase your business revenue, while improving customer relationships and client retention.

Are you confident in what you have to offer? Do you believe that your business is built for success, and that you’re meant for greatness?

Greatness may be coursing through your veins, but it’s unlikely you’ll reach your full potential without mastering the process of high-ticket closing.

Greatness may be coursing through your veins, but it’s unlikely you’ll reach your full potential without mastering the process of high-ticket closing. Share on X

You can be the best in the business at what you do, but if you don’t know how to close, your career might come to a standstill. Regardless of your expertise or your capabilities, without proper training on closing high-ticket clients, you’ll be limited in how far you can go.

Billionaire tech entrepreneur Elon Musk once said, “I think it’s very important to have a feedback loop, where you’re constantly thinking about what you’ve done and how you could be doing it better.”

What could you be doing better? For many people, closing is a skill they could definitely benefit from getting better at. Truthfully, however, few people can become great at closing without proper training.

Acquire This Skill and Be Set For Life

Closing is an art, and unfortunately, many people still use old school sales techniques that no longer work. There’s a huge difference between selling and closing. What’s the difference between a salesperson and a closer? For starters, a closer can ‘wow’ their prospect and intrigue them, but a salesperson tends to push prospects away.

A closer leans back and exudes confidence, while a salesperson leans forward and exudes desperation. Once you master the process of high ticket closing, you will find that each sale comes more naturally, and the sales experience becomes more enjoyable for both you and the prospect.

Setting Your Business on a Growth Trajectory

Growth is likely one of the core values of your business. Your business’s future growth potential, however, relies on your ability to close. In fact, if you are running a growth-driven business, you should be motivated to develop advanced closing skills. Why? Because high ticket closing is more than just a beneficial skill. High-ticket closing is a powerful weapon that holds the potential to make your competition obsolete.

Part of your business strategy should be mastering the art of closing. Why? Because scaling your business requires the implementation of and mastery of certain processes. High ticket closing is one of those fundamental processes.

The value of each customer you acquire goes up when you start selling your offer at high-ticket prices. Share on X

What happens if you have competitors who offer a product or service that is just as good as yours, or better than yours, but they fall short when it comes to closing? They’ll likely lose the customer to you, especially if you know how to close.

The value of each customer you acquire goes up when you start selling your offer at high-ticket prices.

Many business owners also fall short by pricing their product or service too low, because they’re not confident they could close the offer at a premium price. There are clients out there, however, who are willing to pay double or triple what you’re currently charging – especially if your offer can solve their problem or meet their unique needs.

What Are You Looking For in a Client?

You probably spend a lot of time ensuring that you’re meeting the needs of your clients. You check off boxes that indicate that you’re what your prospective clients are looking for. But what about you? What are you looking for in a client?

Chances are, your ideal client is high-ticket client who is willing to pay top dollar for your services. High-ticket clients give you the gift of time. When you start closing upscale clients who pay premium prices without even blinking at the price tag, you end up making more money working less.

In addition to clients who have money, you also want clients who have a need for your product or service, and trust you to fulfill that need.

When you start thinking about what you’re looking for in a client, you’ll realize how important mastering the process of high ticket closing is. You see, the type of client you’re looking for, is the type of client everyone is looking for. So you’re not the only one trying to close them. You could, however, gain the competitive advantage required to be the one who succeeds in closing them.

Master the Process of High Ticket Closing

The world’s highest-paid, all-star athletes commit to peak performance and hire the highest-caliber coaches to maintain their elite status. Business all-stars must prepare the same way.

It won’t be easy to master the process of high ticket closing. If it was easy, everyone would be closing high-ticket offers instead of slumming it by cold-calling unqualified prospects or charging low prices to get the sale.

Statistically, it takes around 18 dials to connect with a buyer, and only 23.9% of sales emails are opened. As a trained closer, however, you can rise above statistics. You’ll be seen as an anomaly; an exception to the rule.

You should expect that learning the secrets of high ticket closing will be challenging, expensive, and will require resilience. Not everyone will have what it takes, but the ones that do will master the art of closing and gain an esoteric advantage over their competition.

How a High Closing Ratio Can Change Your Life

When you become a master at the process of high ticket closing, you can expect a high closing ratio to be one of your claims to fame. A high closing ratio doesn’t just mean you’ll make more money. It also means you’ll no longer be exhausted or drained. You’ll have more energy, more free time, and more confidence.

A high closing ratio will be transformative for you, because you’ll no longer feel overworked and underpaid. Share on X

A high closing ratio will be transformative for you, because you’ll no longer feel overworked and underpaid. You’ll finally be making a real income by working smarter, not harder. The hard work is in the preparation. Learning the process of high ticket closing is part of that preparation.

Are You Ready For a Personal and Professional Transformation?

If you understand that success requires training, hard work and preparation, you might be ready to join my exclusive mentorship program. Members of HTC Platinum will go through a personal and professional transformation. Applicants that are accepted will receive high-caliber business coaching, exclusive mentorship, a master’s closing script, and live roleplay practice sessions with expert feedback. What you’ll learn as a member of HTC Platinum could transform your professional life, and arm you with advanced business acumen that changes your career.

As far as your personal life goes, members of this elite community report coming out of it with dramatically increased self-confidence and self-motivation.

You won’t apply for my exclusive program unless you want success badly enough. If you want to gain the esoteric wisdom of high-ticket closing and set yourself up for success, reserve your spot in HTC Platinum today.

How To Successfully Conduct An Elevator Pitch

October 24, 2019 by Dan Lok

Do you know how to conduct an elevator pitch, if you unexpectedly find yourself face-to-face with a high-ticket client? Imagine that your dream client gets into the same elevator as you, just by chance. It’s your lucky day, because you are alone in an elevator with a powerful decision-maker. This is it. This is your golden opportunity.

You would never want an opportunity like this to go to waste, all because you froze up, didn’t know what to say to them, and didn’t know how to conduct an elevator pitch. When you actually visualize your dream client getting into the same elevator as you, by pure luck, it’s understandable why the concept of the elevator speech is so fundamental.

Remember that ‘luck’ happens when preparation meets opportunity. This expression is attributed to the Roman philosopher Seneca, and reminds us that we create our own luck.

By memorizing an irresistible elevator pitch, you’re ensuring that the opportunity won’t go to waste. You’re ensuring that bumping into an influential person in an elevator will be lucky, rather than a tragic, lost opportunity.

What Exactly is an Elevator Pitch?

An elevator pitch is a short description of an idea, product, service or company that explains the concept in a clear and concise way, so that the listener can understand it in a short period of time. A captivating elevator speech should entice the listener by overviewing a problem they have and do not want, or a result they want, but have not yet achieved.

Short and sweet, elevator pitches are nothing if not persuasive. In essence, an elevator pitch is a compelling summary or overview of your offer. Think of your elevator pitch as the most important bullet points of your sales pitch.

An elevator pitch is a short and compelling summary of your offer. Think of your elevator pitch as the most important bullet points of your sales pitch. Share on X

The original term stemmed from actual sales pitches taking place in elevators, back when catching a Hollywood executive in an elevator was a golden opportunity for the likes of a hopeful screenwriter. Today, the term is used for any sales pitch delivered quickly, concisely and effectively.

A common myth is that elevator pitches must be only 30 – 60 seconds long. An elevator pitch doesn’t actually have to be quite that short. However, it’s certainly not a bad idea to have a 60 second version memorized – just in case you just happen to ride the elevator with a top executive.

Is it possible to have an impact on someone in under 60 seconds? Absolutely. You can be remembered by someone based on a short and compelling elevator pitch.

Where Did the Term “Elevator Pitch” Come From?

It’s popular belief that the term “elevator pitch” comes from the studio days of Hollywood, when aspiring screenwriters knew they might catch an unsuspecting Hollywood executive on an elevator ride. There, with the decision-maker trapped within the confines of an elevator, the screenwriter would quickly pitch their idea during a 30 second elevator ride, hoping to make an impression in a very limited amount of time.

There are, however, other origin stories for the elevator pitch. One commonly-known origin story is that of Ilene Rosenzweig and Michael Caruso, two Vanity Fair journalists in the ’90s. Caruso was a senior editor at Vanity Fair and, according to Rosenzweig, he was always attempting to pitch story ideas to the Editor-In-Chief. However, he could never pin her down long enough to pitch her, because she was so busy. In order to pitch his story ideas, Caruso would join the Editor-In-Chief during her elevator rides. This was one of the few occasions where she would actually listen to him. Thus, the concept of an elevator pitch was created.

Essentially, the concept of an elevator pitch originated because high-level executives at companies (the decision-makers who you want to pitch yourself to) are notoriously tight on time. There may not be many opportunities to get their time or attention, but an elevator ride is a window of opportunity. Pitching a busy executive during an elevator ride is a wise way of finding the time to deliver your pitch.

It Might Not Happen in an Elevator

You need an elevator pitch ready at all times. You literally never know where you’re going to meet your next high-ticket client. It could be in an elevator, but of course elevator pitches don’t always take place in elevators. It could happen at a networking event, it could happen on a train, you might meet a prospect at an open-bar mixer before a conference, or you could even meet your next client in line at Starbucks.

Imagine for a moment that you’re in line at Starbucks. It’s the morning rush. Two businessmen are behind you in the line-up. You can’t help but overhear them discussing their need for an excellent SEO copywriter. You just happen to be an SEO copywriter. That just so happens to be your high income skill. You can turn around, tell those businessmen that you couldn’t help overhearing, and pitch them on why they should hire you. But if you’re going to pitch them, you’d better have a solid elevator pitch memorized.

The Modern Day Elevator Pitch

An elevator pitch is not a new concept, yet it’s still relevant and widely used. The reason the term “elevator pitch” is still used today, is because it’s important to have a very short version of your sales pitch memorized, in case you’re lucky enough to get even just one minute of an important executive’s time.

Because the short version of your sales pitch should not be much longer than the average elevator ride, the term “elevator pitch” has stuck around, and is used when referring to the quick version of your pitch.

This type of quick sales speech is not only used by modern business people and high-ticket closers, it’s also used in interviews. When you sell yourself in an interview, that is essentially an elevator pitch about yourself. An elevator pitch for an interview is a short sales pitch on why you’re the best candidate for the job.

Today’s elevator pitches are also used by students. If you are a student networking at a career fair, you might memorize a short “elevator pitch” that provides an overview of your skills, experience, passions and goals. That way, a company’s representative will be more likely to remember you, and put you in touch with HR.

Generally speaking, a modern elevator pitch is a condensed version of a sales pitch, used by entrepreneurs and people in business, with the object of obtaining a longer sales meeting.

An elevator pitch is a condensed version of one's sales pitch, with the object of obtaining a longer sales meeting. Share on X

In her book Small Message, Big Impact: The Elevator Speech Effect, Terri L. Sjodin explains how an elevator ride is a metaphor for an unexpected window of opportunity where one does not have much time to act. In her book, Sjodin explains,

An elevator ride is a metaphor for unexpected access to someone you want to sell on some idea, project or initiative.

An elevator ride is a metaphor for an unexpected window of opportunity. Share on X

The Difference Between an Elevator Pitch and a Sales Pitch

Yes, an elevator pitch is a form of sales pitch, but there are key differences between the two. A sales pitch typically occurs when a lead has expressed interest and agreed to a meeting to hear more about your offer. An elevator pitch is the short and compelling introduction of your offer that gets a prospect interested.

It is often because of an impressive elevator pitch, that a prospect agrees to a sales meeting where you will deliver a more in-depth sales pitch. While elevator pitches are more casual and conversational, a sales pitch is typically longer and more formal.

The Anatomy of a Great Elevator Pitch

A successful elevator pitch will be short, clear, direct, and uncomplicated. The message should be extremely clear, as should the value proposition. What makes you different or better than other options out there? Below is the anatomy of a great elevator pitch:

1. The Hook: The hook draws the listener in, and should happen right away, within the first sentence or two of your elevator pitch. The hook can be a question, such as “Have you ever wondered how certain businesses similar to yours have two, three, or four times as many social media followers as you, even though they haven’t been around as long as you?”

2. The Problem: The goal is to lay out a common problem that you have a solution for, hoping that the listener will resonate with this problem because it’s one they are currently experiencing.

3. The Value Proposition: Your value proposition, or your USP (unique selling point) is a clear explanation of how your product or service solves the problem in a unique or better way. You need to be certain of the specific value you offer. If you have a special skill, know how to explain why your unique skill is so valuable. What is your superpower? If you have a special, highly sought-after skill, then build your pitch around that.

4. The Benefits: In one or two sentences, briefly lay out the benefits that come with solving this problem. For example, you could briefly provide some statistics on how social media followers convert to customers.

5. The Foot in the Door: Don’t forget to ask for their contact information so that you can schedule a meeting to discuss your offer in more detail. Remember to end your elevator pitch with your foot in the door. You could say something like, “Since you’re interested, why don’t we schedule a meeting?” Another option is to ask them a question it’d be hard to say no to, such as, “I’d love to rewrite one of your ads for free, just to show you what I can do. How does that sound?” In general, the goal of every elevator pitch should be to set up a time to talk in more detail, and to get the contact information of the person you pitch.

Other Key Components of a Successful Elevator Pitch

What are some other qualities of a successful elevator pitch? For one thing, you need to know how to properly introduce yourself. You’ll start by introducing yourself, with your full name. Then, provide some brief background. Say something like, “I’ve been an SEO copywriter for 10 years.”

Ask questions. You don’t want to talk at someone. Elevator pitches should have a conversational, informal, and easy-going feel to them. Be sure to sound natural, not scripted.

Building rapport within a short pitch can be achieved various ways, for example through compliments. Compliment them with comments such as, “I am a huge fan of your brand” or even, “That’s a great suit you have on.”

Elevator pitches are best delivered in person. Most people want to hire someone they like and have met in person. Hiring a faceless candidate who submitted a resume online is less ideal.

Enunciate your words and speak slowly, because they are hearing your offer for the first time. That means you can’t talk too fast, as you have to give them a chance to process what you are saying.

It’s key that both your verbal and non-verbal communication skills are on point. Why does this matter? Because it’s not just what you say in an elevator pitch that matters. It also matters how you deliver the pitch. Your tone of voice should be strong, upbeat and confident during an elevator pitch. A stand-up comedian could deliver the exact same joke to two different audiences in two different ways, and only make one of those audiences laugh. It’s all in the delivery. If you have personality in your voice, people will pay more attention. If you speak in monotone and you don’t sound upbeat or excited, people will tone you out. Now, let’s discuss non-verbal communication.

Body Language: What You Need to Know About Non-Verbal Communication

Non-verbal communication such as your body language, can make a world of difference in how your elevator pitch is received.

Body language is a strong indicator of one’s confidence. If you stand up straight, stand tall, and stand with good posture, you’ll appear more confident during your elevator pitch. Why does this matter? Because if you don’t seem confident in yourself, your prospect won’t be inclined to feel confident about you, either.

Don’t forget about other non-verbal cues that improve your overall delivery, such as eye contact, hand gestures, and a nice big smile.

Your eye movements matter, too. Looking downwards or off to the side reflects low self-confidence. That’s why your best bet is to maintain eye contact during the delivery of your pitch.

Many people argue that non-verbal communication such as one’s body language, is even more important than verbal communication.

Albert Mehrabian, who was a Psychology professor at the University of California, was known for his extensive research on non-verbal communication and its importance. In his popular book Silent Messages, Mehrabian concluded that prospects base their assessments of credibility on factors other than the words spoken verbally by the salesperson.

Build Your Pitch Around a Niche Area of Focus

The more narrow or niche your area of focus is, the more unique your service is. This is a good thing. People are more likely to remember you and the service you provide, if it’s very niche, and narrow in focus.

Many people mistakenly think they will miss out on opportunities and lose clients by being too narrow. But it’s actually the opposite. Being narrow positions you as an expert. They will have that “ah hah!” moment feeling that you offer exactly what they’re looking for. And when that happens, price is not typically an issue.

Let’s imagine a relationship coach’s elevator pitch as an example. A relationship coach who says “I help people solve their relationship problems” won’t get very many clients. But if they say, “I help married couples on the brink of divorce save their marriage and rediscover their love for each other”, they will get more clients. Being an expert on one specific thing holds tremendous marketing power.

How to Memorize Your Elevator Speech

Practice, practice, practice. Rehearse your elevator pitch to friends, family, or by yourself in front of your mirror. Repetition is how you memorize a speech. Practicing it out loud helps you memorize it, too. While you practice your elevator speech, you can also change it, modify it, and continue to test it out. Just like a stand-up comedian tests his jokes in front of a live audience to see which jokes get the most laughs, you can test different versions of it with friends.

When you set out to memorize an elevator pitch, you’ll first need to write it out. How long should an elevator pitch be, on paper? It should definitely be less than one page long. Aim for about half a page, or a maximum of 250 words.

While you’re rehearsing your speech, get some feedback from friends and family about your non-verbal and verbal communication skills. Since elevator speeches are a form of public speaking, ask yourself if you are confident when it comes to public speaking. If not, continue to practice your elevator pitch on real people, so that you can get used to the idea of public speaking. Since your elevator pitch won’t always be delivered to just one person, and can sometimes be delivered to a group of people, it’s crucial that you develop some public speaking skills.

Elevator Pitch Mastery

A great elevator pitch is a key component of a first impression. Introducing yourself at a business event could lead into an opportunity to deliver an elevator speech to a powerful decision-maker. How can you become a master at conversation, so that when you conduct an elevator pitch, you’ll successfully make a great impression? My Perfect Closing Script is a great resource to use when crafting a compelling elevator pitch. By reading my exclusive Perfect Closing Script first, you’ll have an easier time when you write and memorize your perfect elevator pitch.