Bob Burg believes that the amount of money one makes is directly proportional to how many people they serve. He is best known for his book, Endless Referrals, and has co-authored The Go Giver: A Little Story About a Powerful Business Idea. In today’s episode, Bob and I talk about the five laws of stratospheric success.
The Go Giver is a parable based on the 5 laws of stratospheric success. This book lays out a path to success in life, as well as in business, that is predicated on giving, serving, and placing the needs of others before your own.
Technology has leveled off the playing field. There aren’t a lot of differences between products and services anymore. When a prospective customer doesn’t see any significant value in what you are selling, it’s going to come down to who is selling at a lower price. If we sell on price, we’re a commodity and when we sell on value, we’re a resource.
#1 The Law of Value
Your true worth is determined by how much more you give in value than you take in payment. You have to understand the difference between price and value. The value must come first and the money that you receive is a natural and direct result of the value you provided. When you are qualifying a prospect, you have to talk about value. You have to communicate the value of what you are selling in order to find out whether there is a qualified prospect for what you are selling.
#2 The Law of Compensation
Income is determined by how many people you serve and how well you serve them. The more people whose lives you touch with that exceptional value, the more money you will be rewarded. The biggest benefit of a referral based prospect is they are already of the mindset of how you do business because that is how they met you.
#3 The Law of Influence
Your influence is determined by how abundantly you place other people’s interest first. You always want to be looking out for the other person. Look for ways to add value to others. Not in a self-sacrificial way, you are not being a martyr. When you do this you are planting seeds of good will in such a way that people know, like and trust you.
To learn about #4 Law of Authenticity and #5 Law of Receptivity, you can check out The Go Giver book for more in-depth knowledge of these two laws.
LEARN MORE ABOUT BOB BURG:
What's the most powerful sales tool you have in your personal sales efforts?
Ability to connect with others.
Name the one tool or app you use for sales or sales management that you can’t live without.
Who's your sales role model?
In life, it is his dad.
What's the one book that every sales person should read?
The Secret of Selling Anything by Harry Browne
What’s your favorite music to get you pumped up?
The Golden Oldies of the late 50's and early 60's
What’s the one question you get asked most frequently by sales people?
Do you get taken advantage of when dealing with the type of person who is not a go giver, but that you are?
What's the first sales activity you do every day?
Talking to a person or contacting someone when he has to.
CONTACT BOB BURG