So Short-Sighted Entrepreneur (SSE) who does not understand what it means to live with an abundant mentality hits me up online...
Hey, I know you from our marketing group. I bought Infusionsoft (Keap CRM) and need some help."
Me: "Oh, really? When did you buy Infusionsoft?"
SSE: "Oh, about two months ago."
Me: "Oh, really? Why didn't you buy it from me?"
SSE: "Oh, my partner got a really good deal at the end of the year...but we skipped the training and now we need help."
Me: "No shucks, Sherlock. So you know I sell and train and support people on this software, yet you bought it somewhere else to save a few bucks. Now you've paid for the software for two months and you're not using it and you need help. Is that correct?:
Me: "So let's do some math:
"Let's say you saved a whopping $800 off the Kickstart...
"Then you wasted two months on software you got for cheap but didn't have the motivation to learn and implement right away. That's $300/mo x 2 months = $600 donation.
"Now you're coming to me for help that is going to cost you at least another $500 more and you will have to pay $373 for access to my twice-per-month live training I give to my Keap CRM and HubSpot clients for free.
"So by 'saving' $800 you're out $600 + $500 + $373 = $1,473 - $800 savings = $673 loss...
"But it'll take another month to get you where you should be, so add another $300 to your total loss, which comes out to $673 + $300...
Your partner has 'saved' you a negative $973 while setting you back three months...
"But that doesn't include opportunity costs.
"Let's say you do $20,000 per month in sales and with the proper sales and marketing automation in place you could expect to grow 30% in 90 days just by capturing the money falling off your table.
"30% of $20,000 = $6,000 per month. Multiply that by 3 months and that's $18,000 of extra topline revenue you let just vanish into the night.
"BUT WAIT! THERE'S MORE!"
"If you have just 33% margins, that's $6,000 of bottom line revenue that would've gone into your pocket if you had your house in order!
"But your partner just let that all go away by making an impetuous purchase under the auspices of saving a few bucks.
"Now that $973 loss is added to the $6,000 loss, which brings us up to dang near $7,000 in lost time, money and opportunity costs.
"BUT WAIT! THERE'S EVEN MORE!"
"Have you ever calculated the lifetime value of a customer? Let's say it's 3x their initial order...
"If you have $6,000 in lost sales to date and those customers would've either spent and/or referred clients to you that would bring in 3x more in sales, the grand total loss to your business in net income is really $18,000.
"So your 'savings' of $800 is more like a loss of $18,973.
"BUT WAIT! YES, THERE'S EVEN MORE!"
"I also give my clients a copy of my Infusionsoft book, which sells for $49.99 (plus s/h.) You also get my No More Sales Duds program ($397 value), my Make Every Sale course (a $1,999 value), and several other goodies.
"So your 'savings' cost you at least $21,418.99 in lost time, training programs, opportunity costs and lifetime value of your client.
"BUT WAIT! BELIEVE IT OR NOT, THERE'S EVEN MORE!"
"And it cost you
- a referral partner,
- a friend, and
- someone that would look out for you because you thought my
- 23 years of sales and marketing experience,
- 20 years of CRM experience,
- 13 years of business ownership experience,
- 11 years of Infusionsoft/Keap CRM experience,
- 5 years of Hubspot experience,
- having written two books
- "The Definitive Guide To Infusionsoft"
- "The Sales Whisperer® Way"
- published over 350 episodes of The Sales Podcast and launched The CRM Sushi Podcast,
- written over 700 blog posts and 200 pages on my website,
- running three membership sites, and
- being a sought-after keynote speaker...
"Wasn't worth $800 more!??"
(It's enough to drive a man to drink.)
Getting a deal is fine...
When you're shopping for
- power tools,
- BBQ cooking sets,
- infomercial hoses that are indestructible, and
- duct tape. (You can never have too much duct tape.)
However, when it comes to professional services, pay professional prices and run your business like a professional because the help you get at 20 or 30 or 50% off is not the same help you get when you pay full price.
Pay full price and expect—and demand—full service.
You'll thank me when we're done.
Wanna discuss working together on Infusionsoft, HubSpot, or any of your other growth projects? Contact me here and let's get it scheduled.
Then come back and leave a comment below and then share this post with a friend whose cheapness is limiting their growth.
Now go sell something.