Andrew: Today’s episode is about commanding high fees for your consulting business. How do you get to charge high fees? So we will talk about first why this is important, which is probably fairly obvious. Then most importantly, how do you do it?
We’ve got some strategies and tactics to go through there and a little bit of disagreement between Kenny and me and some of the finer points. So we will see if we can resolve that during today’s episode.
Then as usual, we will finish up with a question from clients, which is very relevant to today’s topic of fees, a tip of the week from Kenny, a little bit of inspiration and then about next week’s show.
So Kenny, for today, as we get into this, why are we talking about this? Why is charging high fees an important topic for us to cover?
Kenny: Well, it’s probably one of the most requested subjects I get from my coaching client. It’s a big subject. Consultants really want to understand how they can earn more money because as an independent consultant, if you work in – especially if you’re working on your own and you don’t have any staff, then the one big way to increase your revenue is obviously increasing your prices.
Let me just give you an example of why it’s important that you consider increasing your rates, your prices or the way that you charge. Let me just give you an example and to take any emotion out of it. Let’s pretend that you own a software business.
[0:02:03] [Indiscernible] software business and your profit margins are around 30 percent and you decide that you want to increase your fees. Now, if you increased your fees by just 10 percent, you could afford to lose 25 percent of your current clients. So therefore it would give you 25 percent more time in your life.
So for instance, it would give you one week off per month just by increasing your fees by 10 percent. Conversely in that same scenario, if you reduced your fees by just 10 percent, you would need to find 50 percent more clients out of that, 50 percent, and they would usually be those price-conscious, time compare [0:03:01] [Phonetic] clients that really want all of your time and really price-conscious as well as time-conscious.
So if you kind of transfer that into a consultancy practice, I know that we have much higher margins but it just gives you an indicator of how important it can be if you consider increasing your fees and increasing your rates.
Andrew: That’s a great example. The mass speaks for itself. It’s not just about getting more money. It’s about getting more time and being able to have the sort of consultancy that you want. Just imagine what you can do with that time. You can improve your skills and abilities. You can spend more time going after bigger clients just because you decided to charge higher fees.
So let’s go into some of the ways we can actually do this because it’s not always obvious how you go about charging higher fees. It can feel intimidating. You might wonder how you can actually make it work. Do you scare away current clients, prospects?
So what have you found Kenny as to be some of the good ways to get into the right mindset and really go about successfully charging higher fees?
Kenny: Yeah. So when I’m coaching my clients and my consultant clients, first of all, I tell them, “Try not to sell time where possible.” People don’t always want your time. Even though it has been a tradition over many, many years of people selling time but people are becoming increasingly impatient these days because as we’ve mentioned before in previous shows, we’re getting hit with so much information per day.
I think New York Times had 5000 sales and marketing messages every single day if you live close to a Western town or city. So your clients are overwhelmed. They just want results. They don’t want your time and I will give you an analogy and I’ve said this before.
If I go to my dentist or I will talk about you. If you go to your dentist and you’ve got a big abscess on your tooth and it’s causing real bad pain and it’s making your breath smell and all of that kind of stuff, and you go to a dentist and you say, “Listen. What can we do about this?” and he says – he looks at it, diagnoses it and says, “Right, it’s going to cost you around about $500 to fix this. But we will get it fixed really quickly and the pain will disappear, the agony that you’re in right now, and your breath will smell great again.”
You will stop putting people off when you’re talking to them and all of that kind of stuff. If he says it’s $500, you’re not going to sort of like say, “OK. Well, let me have a think about that. Could you just send me a proposal and kind of break down all of your time that you’re going to be putting into this and break it all down?”
It’s the same with your clients, this impatience that people have now, because we live in an attention-deficit society and there’s attention poverty out there. They just want results. They don’t want your time.
Another thing that you can look at as well is ask yourself, “What transformational value can you offer your clients?” because it’s always worth you first of all convincing yourself before you try and convince anyone else. You need to be convinced that you’re worth more and a good little process to go through is to sit down and think about all the different areas where you add value to your clients’ lives. What is this worth? Ask yourself, “What am I worth?” Most of the time if you are offering great value, which you should do if you want to get a lot from the world, then you will get to a figure where it’s usually way over what you’re charging right now. So that’s an exercise to test out there.
Andrew: What you’re talking about gets back to something we’ve discussed in almost every episode which is you need to focus on your prospects’ problems and pain because that’s where you can really usually add the most value.
The dentist example is perfect. If you’ve got amazing toothache, that’s incredible pain, and you’re not going to haggle over fees. You’re going to pay the specialist his high fees and that’s exactly the position we want to get into which you can do when you keep that focus on your prospects’ problems and pain.
Kenny: Yeah. That brings me on to my next point which is positioning. I’ve mentioned this in episode one and they will get mentioned again because it’s so powerful and it’s all about getting yourself into a position where you are positioning yourself as high value. So before you come to any kind of rates or price discussion with your prospects, ensure that the know, like and trust and that we discussed in episode three, last week’s episode, in detail, make sure that that know, like and trust has been built. Otherwise the defences are going to be up because they will feel that you are selling to them. They will feel like they’re in the biased situation and defences are always up in that situation.
Now if you built the know, like and trust and if you want to work out ways of doing that, tune into last week’s episode, episode three. If you’ve done that, then it’s going to be a much smoother negotiation and you can do this in various different ways. You can do this by – the first way of showing them how good you are and that will be a real good way of building that know, like and trust.
The first way is what most people do and I mentioned this last week. Most people, they wave out their hand and they say, “Go to my brochure website,” and they then try and tell them how good they are. That’s the weakest way possible.
The next way is to get other people to tell them how good you are and a great way of doing that is referrals and referrals are really powerful. I’m sure we will probably do a whole episode on referrals soon.
Another way is to show them, demonstrate via testimonials or case studies. Then the most powerful way is to wow them, give them wow information that they can use in their business right away. That’s going to have some level of an effect on their lives positively.
Andrew: Right. In other words, you’re showing them a real sample of what you can do. You’re not just telling them about it but you’re giving them some real value right away so they learn to trust that you’re an authority and you know what you’re talking about.
Kenny: Exactly. We’ve said it before Andrew. This brings us to the principle of reciprocity. You’re giving something to them. They then feel at some level be held and to give something back to you and you’re after that time and attention right now. You will win that time and attention by giving them something of massive transformational value that they can use right away.
Kenny: Yeah. OK. Also, very important, the most important point I think is don’t be a “me too” business. Don’t be like all the other consultants in your niche out there. Otherwise, you can be compared and therefore price-compared and then you enter the inevitable price wars.
So they will just compare you to the other bud who pops in there and doesn’t differentiate himself. So what you need to do is be special. We’ve mentioned it before. Specialise and differentiate yourself from your competitors and ensure that every bit of your communication is so on message with the prospects’ wants, needs and desires.
This comes back to what you said before Andrew, really knowing and understanding their pain, really understanding that pain and understanding their desires because if you do this, if you make sure that every bit of a communication is so on message with those wants, needs and desires, the hairs on the back of their neck will stand on end. They always do because they will resonate with what you’re talking about. This is where the desire builds and this is the important part.
So when the desire builds and that’s coupled with testimonials, case studies and wow information, it creates an irresistible cocktail that will dissolve your premium clients’ price sensitivity or comparison. There’s magnetic for you right there Andrew.
Andrew: That’s exactly what you want to get to and this goes back all the way to our first episode when we talked about what we thought was the most important thing about being magnetic. You talked about positioning. I talked about focus or specialisation that you have to find the way to really specialise if you’re going to stand out especially online.
So we’re going to do an entire episode about this coming up because it’s such an important point. We want to dig in deeper. But for now, to get back to the topic of the fees, charging higher fees, I want to add a couple of things. Really two things I want to dig into that are a little more focused on some of the implementation details.
So Kenny did a great job of setting the stage there for everyone and giving the inspirational high level of what we need to do and shift our mindset.
I want to give you two very specific things to do. Number one, stop charging an hourly rate. Just don’t do it. There are so many problems with that and so many problems that get solved once you stop doing it. This harks back to your point of doing sell time.
So what’s wrong with charging an hourly rate? Well, number one I think is obvious. There are only so many hours in a day, only so many hours in a week and if your goal is to earn more money, and hopefully work less, then you just can’t do that with an hourly rate. You run out of space.
Kenny: What happens though if in – for instance Andrew, you’ve got a consultant and he’s kind of looking for new clients and then he gets a call from a recruitment agency for example and they say, “You know what? It’s an hourly rate. Like it or leave it.”
Andrew: Well, great point. So in that case, you’ve got to decide if that’s a job or an opportunity that you need to go after, if that’s important for you. Obviously you have to work within the parameters of what the employer is setting. So there are always going to be some exceptions here. I’m talking mostly about the case where you’re your own independent consultant. You’re engaging clients on your terms and in that case, you just really want to avoid the hourly rate.
Here’s a bigger reason. This is all the more subtle. But that is if you charge an hourly rate, then you actually get penalised as you become more effective and efficient at your job. You actually get penalised for that. So think about – here’s an easy example. Imagine it used to take you say 50 hours to build a website and you charged $100 an hour. So you would be earning $5000 for the project.
Well now, you’ve gotten so much better at it. You’ve improved your tools, your ability, your knowledge, your efficiency. You can build that same website in just five hours. Well, if you’re still charging 100 bucks an hour, you only earn $500 for that website. You’ve just cut your fee down by 90 percent by becoming more efficient.
Kenny: That is a really good point. I want to penalise you there for your language though.
Andrew: Oh, no.
Kenny: It’s penalised. It’s not penalised.
Andrew: Well, there are things such as penal colonies but no, it’s – you’re penalising me. Oh, boy.
Kenny: That is a really good point there Andrew. I mean it’s like you’ve gotten to a point where you’re super efficient yet you are being penalised for it. It’s ridiculous. Great point.
Andrew: So what do you do? So the solution is to charge a fixed project rate. You charge a fix rate for the project and just using that same example I just had, you can still charge $5000 for the website but you’re doing it 10 times faster, so you’re effectively earning much, much more if you will get it from an hourly rate point of view. You’re not penalising yourself. The client is getting the same value, maybe even more value, and you’re getting more value too. So it’s really a win-win.
Kenny: And like you said, if you’re getting charged by the hour, then there’s no benefit to actually getting better at what you do. There’s no benefit of being more efficient and it just keeps people down, doesn’t it? It keeps everyone down.
Andrew: Well, it’s a great point. In fact, you’re incentivised not to get more efficient.
Andrew: Because if you work fewer hours, you make less money. It’s the exact wrong incentive to have for growing your business.
Kenny: Yeah, absolutely, or you get into a position which is not going to feel good where you’re saying, “Well, that guy over there gets paid 5000. Because I can do it in half the time, I’m only going to get 2500.” Well, what I might do is tell them that I’m doing more hours than I’m actually doing and that’s a horrible position to be in because no one wants to be out there telling lies to people. It’s just an integrity issue.
Andrew: Or if you want to try to do it and keep your integrity, you say something like, “Well, I can do the same job 10 times faster than him. So therefore I’m going to charge $1000 an hour,” and they will hear that and say, “I don’t think so. I’m not paying anybody $1000 an hour.”
So that approach doesn’t work either. So the only way to get around all that, to work with integrity, to earn what you deserve and to still have happy clients, is to charge a fixed project rate. I had another point on that. You want to get to the point where you’re determining those fixed project rates based on value to the client, much more than your own time involved.
So of course you always need to consider how much time it’s going to take you but that should be setting a minimum for your project bid. The maximum or the quote you actually give should be based on the value you’re delivering to the client.
Now this is something that Alan Weiss goes into in masterful detail in his book Value Based Fees. I would really recommend that for anybody looking to move from an hourly model to a fixed project rate model.
But the key is to understand what you can actually do for the client. If you can – if what you can do is going to help the client’s business grow by a million dollars next year and you’re only charging $1000 for it, well, you are really underbidding.
Even if it’s something that only takes you an hour, if you can deliver that kind of value, you should be charging $10,000, maybe even $100,000 for that advice.
Now it’s a very different mindset to think in terms of the value you’re delivering than the time you’re providing. But it’s a mindset you want to work to get towards to really command higher fees and that helps you focus the entire discussion with a client on the right things. You’re talking about the value you can deliver for the client rather than how much time you’re going to put in for him. That’s exactly where you want to be in his negotiations.
Andrew: Now the next piece to this, so OK, so you say, “Andy, well, I agree. I want to stop charging hourly rates. I want to start charging more. How do I do it?” Well, I’m going to say you just need to decide to start doing it. You need to decide you’re going to start charging more for your fixed rate projects and what that largely means is you decide to say no to lower fee opportunities. So just think about this.
You could take on ten $1000 projects which is going to take a lot of your time and energy or you could use all the time that you would spend on those 10 projects to improve your skills, improve your marketing, improve your sales, improve your lead generation and land just one $10,000 project. Now wouldn’t that feel a lot better?
Once you’ve done that, keep going. Take it to the next level. You could take on ten $10,000 projects or use that time to instead improve everything you’re doing including your lead generation and land one $100,000 project.
Now that might sound like it’s really out of reach for you right now but this is the only way to get there, to decide that you’re going to stop spending all of your time on smaller, lower fee projects and focus on the big wins. That’s how all the big time consultants get there.
Kenny: What would you say though to people who are going to be listening to this and thinking, “You know what? I’m not going to turn down a $10,000 project. I need one. I need one right now.” Sorry, a $1000 project. I need one right now. What are you going to say to those guys?
Andrew: Well, we’ve all been there too, right? We’ve got to put food on the table. We’ve got to get enough money to keep going in our business.
I do understand that. So I would say you’ve got to strike the right balance. If you’re going to take on a project that you know you could charge more for, but you’ve got to settle for less, then you really have to decide, “Is it worth it? Is the money this critical that I want to take on the time and effort required to deliver this low fee project rather than trying to go out and do what I need to, to land a higher fee project?”
Sometimes you may make that call. I’ve got to take the lower fee project but just understand that you’re doing it after weighing the importance of the options and how important it is to keep the higher fee projects in mind.
Kenny: Yeah, OK. Have you finished on that or have you got some more to add?
Andrew: I think that’s pretty much it. I really just wanted to close by saying you really do get what you ask for and you get what you settle for. You need to, as they say, dress for the job that you want to have and decide to start charging those higher fees.
Kenny: Yeah, absolutely. At the same time, sometimes, when I coach people, they say, “Well, when I asked for these fees or think about – when I visualise myself asking for these fees, I just think it’s just too much to ask because I would never want to pay anyone that kind of money,” and my response to them is, “Well, you are not your client.”
Andrew: That’s right.
Kenny: You’ve just got to remember you don’t want to be going to clients and choosing the wrong clients, clients who can’t afford to pay what you want to pay. You want to be attracting premium clients but don’t compare any of your limiting beliefs that you may hold to the way your premium clients are at. One good way of getting beyond that thinking – because sometimes we can get into a little bit of – I wouldn’t call it poverty thinking but thinking lower thoughts than we’re worth.
One way to really kind of get beyond that, it’s very difficult when we’ve just had a massive recession and all you hear on the news is everything is going downhill and no one is going to make money and the economy is really bad.
Well, what I would say to you in that position is if you’ve got yourself a few spare hours, just go and find on the internet the nearest Ferrari dealership or Bentley dealership or Rolls Royce dealership and just go and sit outside and watch people going in there and purchasing cars.
That will remind you that there are people out there and businesses out there that are absolutely thriving and they’re the people you want to be attracting.
Andrew: Oh, great to keep in mind. There’s always someone out there willing to pay more than you think for a service that you’re offering and those are the folks that you want to keep in mind and go after and improve your ability to find. They’re out there.
Let me close with one last tip here, a very actionable tip that you can take. When you’re putting together proposals, keep in mind the fact that you want to keep your prospect focused on the value that you’re bringing first and foremost.
So lead with that in the proposal. Summarise the situation they’re in, what they’re trying to get to and highlight the fact that based on your discussion you think you can bring them $100,000 of new business in the next year.
Make sure that’s in the proposal and then when you get down to the end of the proposal where you mention your fees, a $10,000 fee doesn’t seem so big. You’ve got to make sure to put the right perspective in place. So again, they’re not just focused on the cost. They’re focused on the value.
Kenny: Absolutely. When you talk about proposals, the proposal should really be a formality if you’ve done everything else right.
Kenny: Before a proposal. It should just be a formality. You should really have the client closed and committed before any kind of proposal has been sent.
If possible, try and get them committed there and then because as we mentioned last week, time is a real problem with desire decay. It causes decay in desire. If you’ve got like a weekend or a week or two weeks in between, that wow meeting that you’ve had with them or wow webinar or whatever communication you’ve had with them, and then making and finalising the decision. It can be a real problem.
Andrew: I’m thinking Kenny we should dedicate a future episode to the topic of writing great proposals and getting people to commit to them even before you send them because there’s a lot to say on that and that would really help a lot of people out.
Kenny: Yeah. We could even do a whole show on urgency as well.
Andrew: Yes. All right. So folks, look for that coming up, a show on great proposals and how to engender feelings of urgency in your prospects to get them moving along.
Kenny: Also Andrew, if you want us to do a show on anything, just please drop us an email at firstname.lastname@example.org and we will definitely consider doing episodes or even sections of episodes on any kind of questions you have.
Andrew: Yeah. Our whole purpose with this is to be helpful to you, the consultants. So if there’s another way we can be helpful, please let us know.
All right. So that gets us on to our question of the week from clients. This week, that’s for me and the question I chose is one that I get actually almost weekly and that is, “Should I advertise my fees on my website?”
Now I picked this too because it’s obviously very applicable to today’s topic. Should I advertise my fees on my website?
My answer is that if you are a high fee consultant or trying to become a high fee consultant, then the answer is no. Do not advertise your fees on your website. Why not? Because doing so just encourages people to price shop before they even get to know you, before they get to know what you can offer, what you can do for them, all the value you can bring. They’re just looking at the price.
That’s a very easy thing to compare. It’s a natural thing to compare. If they go on Google, they will find dozens and dozens of results of consultants or agencies offering what you offer and if everyone has prices on the front page, well, that’s going to be their first level of filtering criteria and that’s not what you want.
You want to have the value discussion first. Get them bought into what you can do, what you can deliver, why you’re special, so that when you actually get to the point of talking about fees, as Kenny said before, it’s almost a formality.
You just can’t get there if you’re leading with price and letting people easily price shop.
Kenny: Yeah, because you would have to have one hell of a knockout website to differentiate you from other people in such a way at that instant price comparison time, you can’t be comparable with anybody else.
So you need – like you’re saying Andrew, you need to create a way of building that know, like, trust and desire before you come to any kind of price. Otherwise you will be comparable.
Andrew: That’s a great point. You can’t expect your website to do all that for you. I mean you and I are both in the business of building highly effective websites but it’s nothing compared to getting one of us on the phone and talking about what we can do for a client.
So you’ve got to keep that in mind. Don’t set your expectations too high for what your website can do for you. It’s there to serve a certain purpose primarily to get prospects to take the next step and talk with you and then you can eventually, when appropriate, get to the discussion of fees. But upfront for a high value consultant, that’s just not going to be effective.
Kenny: Have you got any exception to this rule that you would consider?
Andrew: Well, yeah, I guess, yeah, there is one. So one that comes to mind, if you’re getting so many people contacting you through the website, that it’s becoming overwhelming for you, then you can hint at fees in different ways such as offering ranges or talking about the types of jobs you take on. Hint at fees in different ways or even come out and say it, if it gets to that point, just to help people self-select out, so that those who could never afford your fees won’t bother contacting you. They won’t waste your time. They won’t waster their time.
But I will say for most of us, that’s a very nice problem to have, of getting too many contacts. So keep that in mind if you get there. But for starting out, keep the fees off the website. Focus on the value discussion. The fees come later.
Kenny: Yeah. I think if you’ve got that many prospects knocking at your door, you can get them to self-select without actually telling them what you charge. You can ask them what their budgets are or words to that effect as well, by getting them to apply to speak with you.
Andrew: That’s right. There are lots of ways you can do that.
Andrew: OK. So that is the question from clients for the week and now, we’re going to move on to the tip of the week and Kenny, that’s you this week.
Kenny: Yeah. I’ve got a really good tip this week. It’s a new app that I’m using and you will find that when Andrew and I talk about apps, they’re usually productivity apps because we’re both heavily into productivity because productivity helps us serve our clients better and helps us have more time and therefore make more money if that’s what our motivation is.
Now I got alerted to this app from a friend, a friend called Donnell [0:30:54] [Phonetic] and it’s called Beeminder and if you go to Beeminder.com, it’s an app that was created to keep you totally accountable. We spoke about this last week in the habits episode and it’s all about keeping yourself completely accountable. If you are going to set goals, the best way to make sure that you hit those goals is be accountable. Be accountable to somebody else or be accountable financially.
This clever woman has created this site and what happens is if you really want to hit a goal, then you pledge that. If you run off and you don’t hit your goal or you run off the path, then you put a pledge in there. So your pledge might be $5, starts at $5. You can go up to like $1000.
In fact I think it’s $2500. What happens is the pledge increases each time. Now you don’t have to pledge. You’re not forced to pledge. You can use Beeminder without pledging. But it just adds that extra motivator to keep you in line.
What they do is they give you all the stats and they can integrate with apps like we spoke about last week like Rescue Time. They integrate with Gmail and Fitbit, I have a Fitbit. We can talk about Fitbit in a later show, which matches how many steps I do.
So an example of what I’ve done in there, I’ve created two goals. I want to hit 10,000 steps every day. Now, I’m not hitting those 10,000 steps without any kind of accountability. So I’ve now pledged $5 and that will increase if I don’t hit those 10,000 steps.
So I made it home the other day and I was on 7500 steps and I’m not going to do 2500 steps around the house Andrew. So I had to get out of the house, get some fresh air and have a run. It forced me to do that.
I use it for Gmail to keep my Gmail inbox at zero and it integrates with these apps which is really, really good. So you don’t actually need to go in there and input any data. So it’s really, really powerful.
Andrew: Kenny, I’m not sure I’m fully grasping this yet. So if the app determines that you’re not meeting a particular goal, then it automatically takes money out of your bank account?
Kenny: What it does is – yeah, pretty much. You put your credit card details in there. So what will happen is you kind of get – I think you get – you can set it so that you have maybe one or two lapses. So if you have a lapse, then it’s fine. What it does it is nudges you and says, “Listen, you’re off the yellow brick road.” So your data has gone off the yellow brick road. It has gotten in the wrong direction and it shows a little road and it’s the yellow brick road.
It shows you that you’ve gone off and what it will do is give you a nudge and then if you go off again – in my case, because I’ve set it that way – then, I will get fined $5.
Andrew: So it really does penalise you, doesn’t it?
Kenny: It does penalise you, yeah.
Andrew: But where does that money go? Does it go to the app developers?
Andrew: To charity?
Andrew: So it’s the app developer.
Kenny: The app developer takes it all and …
Andrew: Wow! I wish I had thought of that one.
Kenny: I know. She has just recently – I think six months ago – given up her day job. It was a side project and it’s making enough now for – she’s doing great. It has been featured in lots of big magazines and the more it gets featured, the more people sign up and she has got a big testimonials page there where it has actually really helped change people’s lives because especially people who are – for example, they’ve got health issues because of their weight for example.
Then it can be utterly life-changing. For me, it just keeps me that little bit fitter because I’m using it for steps at the moment, doing steps in a day and it keeps pressure on me to keep my inbox at zero. I will add some more goals once I’ve gotten used to it. But I’m just sticking at those two goals right now.
Andrew: And again that app name was …
Kenny: It is Beeminder.com.
Andrew: Fantastic. Try it out and recognise that you do get penalised. We’re not staying on the golden, yellow brick road. Very cool.
All right. So this gets us on to our inspiration of the week. For me this week, I wanted to tell a very brief story about my four-year-old daughter and what this can actually mean for all of us consultants out there.
So my daughter has gotten very good on her scooter like many kids her age. She can zip around extremely fast, constantly giving us heart attacks. She gets near traffic but she’s really, really capable on her scooter. We just bought my daughter and my son, who’s two, balance bikes. Now, I’m not sure how popular these are in the UK. These are bikes that don’t have pedals.
Kenny: Yeah. Lottie [0:36:09] [Phonetic] has got one.
Andrew: Oh, great. So they actually teach kids how to learn to balance first before learning how to pedal, which is a much more natural and faster way to learn. So that when they actually do get on a pedal bike, they don’t even need training wheels.
It has been amazing to watch this. My son just loved his in the beginning. He just walks along. He’s not really coasting it. My daughter struggled because she was walking, walking, walking. She couldn’t balance and it was just too slow for her.
She just kept saying, “Daddy, I want to ride my scooter.” The next day we went out, she wouldn’t even ride the bike. She said, “I want to ride the scooter.” She went so fast in the scooter, went circles around my son. We finally convinced her on a later day to go on the balance bike again and after more frustration, she got on a little bit of a downhill, got some of the balance, got going faster and then started having so much fun.
Now she just wants to ride the balance bike now that she can actually do it and go fast like she does on her scooter. It’s of course wonderful as a parent to watch this and see them learn and struggle and grow.
But this really reminds me too for all those consultants out there. We need to challenge ourselves like this. Anytime we’re trying to grow, we’re going to face frustrations and we’re going to be tempted to return back to our comfort zones, the areas where we already know how to ride the bike.
That’s a growth danger we need to constantly check ourselves for. We need to make ourselves face the challenge, face the frustration, because that’s the only way to go to a higher level, to get to the next step, to get to the point where you’re zipping around on a bike instead of a scooter.
So that’s my inspiration for the week, seeing how my daughter Emilia has really grown through this experience.
Kenny: It’s a brilliant inspiration and I’m going through the same situation with my daughter now who’s three. She just turned three and she just loves the scooter, flies around on the scooter and just doesn’t – the balance bike is getting cobwebs on it now.
Kenny: It kind of – it’s a bit of an analogy there, isn’t it? There are certain areas of our lives that are getting cobwebs on them because we’re not stretching ourselves enough in those areas. It’s just all about just taking that leap of faith, knowing that it’s going to be possibly boring the first part of it, or it’s going to be tedious, boring and it’s going to be getting those out of our comfort zone. But when you do, when you do it and get it and get traction, it can be so enriching to our lives and so exciting. I just think that’s a really good inspiration for this week especially when you use a child analogy because they are just the best inspiration for all of us.
Andrew: They always are. Yeah. This can really be transformational. When you’re able to grow your business to the next level by breaking through a new challenge like that, it just feels amazing. I mean it’s all worth it. It all becomes worth it at that point.
All right. So to wrap up things for today, Kenny, what are we going to be talking about next week?
Kenny: Well, next week, we’re going to be covering being special because we’ve mentioned it quite a few times now and we’ve not given it the amount of time that it deserves. People say to you all the time, “What’s your USP?” What’s your differentiator? A lot of consultants come to me and they say, “Well, what is mine?”
I don’t know. So we’re going to cover ways of uncovering your specialty next week, why you’re special and how you can differentiate yourselves from those other “me too” businesses out there so that you can never be compared and there are no price comparisons and that is how you can charge higher fees. We’re going to go deeper into that next week Andrew.