In Episode 004 of The Jeff & Heidi Show, we interview Jaime Jay, founder and managing director of Bottleneck Virtual Assistants, LLC.
Episode 004 Guest: Jaime Jay
Jaime Jay is the founder and managing director of Bottleneck Virtual Assistants, LLC. Jaime has been sourcing VA’s from the Philippines since 2006. BNVA is a team of remote-based professionals dedicated to assisting ambitious leaders to identify, hire and cultivate remote-team members.
BNVA supports entrepreneurs, solopreneurs, C-level executives, founders, business advisors, consultants, legal professionals, real estate executives, professional speakers, podcasters, physicians, counsellors and many more.
As the need for virtual assistants continues to rise, Jaime enjoys sharing his industry expertise with a service dedicated to business growth, systems, processes, and company culture development.
There are a few things you need to do and consider to prepare for your first face to face meeting:
Make a list of what you want to accomplish during the meeting.
Anticipate potential concerns from the client.
Check to make sure you are completely prepared.
Listen more than you talk.
Bring support staff with you.
Use and respect the clients’ format.
Always follow through.
Ask for what you need and seal the deal.
Simplify your prospects life.
Find ways to boost your credibility.
Build and nurture relationships.
Learn from “no.” Find out what didn’t work so you know how to change it for the next time.
These are all important things to do both before and during your presentation. With confidence behind your company and product you will catch that big fish. The next step of the process is negotiation. This can seem a little intimidating but with a few tips and tricks can become natural to you.
Here are some tips to help you negotiated successfully:
Build a pricing strategy and stick with it.
Prioritize what you plan to offer. This should include what really matters to you and what you are willing to give in on.
Don’t give in too quickly.
Negotiated with a person, not a “company”. Don’t let their answer be that they would like to but can’t.
Don’t sell yourself short.
Mitigate your pricing. If you go too low you won’t be able to raise it back up and you need to make a profit.
Don’t sacrifice quality for the deal.
Your services should always count as costs.
Boost margins with add-ons.
Handle requests for proposals with the utmost care.
These are the ways you make sure that both parties are getting the best possible situation from the partnership. Once you start meeting or working together, it’s important to continue to build your relationship so that that representative becomes a big of an ally for you. They are more likely to vouch for you and build on the partnership you have with their company.
We like to call this person a champion. They are champion for your company and can bring a stronger, brighter future to your company. Here are the characteristics of a great champion:
They are respected by supervisors.
They are socially networked.
They think in the best interest of their company’s long run.
They are able to quickly navigate through the company to get things done.
They are willing to give credit to another person.
They share the same business philosophy, values and vision as you.
Now, that you know how to negotiate for what is best for both parties and build on relationships, we’re going to talk about how to use your fish’ power to the best of your benefit.
If you need help with any of the negotiation or courting process, try our GUIDED TOURto get access to a wealth of great tools and resources to help you be successful. You can also check out our selection of Online Courses.
In Episode 003 of The Jeff & Heidi Show, we interview Jesse Todisco of 46 & 2 Wealth Partners and The Jesse Tee Show.
Episode 003 Guest: Jesse Todisco (Jesse Tee)
The best career in financial services is that of a financial caregiver, business operator and true purveyor of advice. Continuously evolving as a financial caregiver allows you to use money as a conduit to a more fulfilling life for your clients and for yourself.
Jesse is the founder of 46 & 2 Wealth Partners, a fee only registered investment advisory firm. Our business ethos is rooted in helping people explore the wisdom of true wealth.
Jesse also hosts The Jesse Tee Show. A mindset focused podcast that teaches anyone hunting greatness in business, health and wellness and in relationships the secrets to success.
At an early age Jesse realized he had a knack for being an entrepreneur. He would buy, sell and trade comic books and sports cards. Growing up in Boston, during the harsh winter months, Jesse would shovel his neighbors sidewalks and driveways earning a few dollars and other times, a cup of hot chocolate.
In 2006, Jesse moved to Georgia and resumed his entrepreneurial path after leaving the military. He founded a series of successful companies that brought him to Charlotte, NC. After building an organization, Jesse and his wife Alicia experienced the loss of their daughter, Alana. They decided to move back to the Atlanta area to be closer to friends and family and continue the dream of starting a family.
In 2011, Jesse entered the world of financial caregiving. Since then he has become more and more passionate about upholding his fiduciary responsibility to those he serves.
Jesse has been happily married to his wife Alicia, for 6 years and together they are the proud parents of two sons. Jesse is a passionate human optimization nerd, enjoys the outdoors, and loves spending time with family, reading, cooking, and learning.
Do you currently have any established joint venture partnerships?
JV’s involve two or more businesses who decide to form a partnership to share markets or endorse a specific product or service to their customer base… usually under a revenue share arrangement. The key to creating successful joint ventures is to find partners who service the exact same type of clients that need or want what you sell.
Let me give you an example and I’ll use one we’re both familiar with… a florist. One of the most financially lucrative product lines for a florist is providing flowers for weddings. The average floral bill for a wedding often exceeds $3,000. But what we discovered about florists is they fall into what we refer to as an “event chain.” An event chain simply refers to a series of businesses that customers purchase from in a specific sequence.
For example, a wedding will never take place until an engagement ring is purchased from a jeweler. So jewelers are at the forefront of every wedding chain. Once the young lady accepts that engagement ring, this event chain kicks into high gear. First, this young lady knows EXACTLY where she wants to get married, so number one on her agenda is to book the church, chapel or synagogue where she wants the ceremony held.
Second on her list is to line up her wedding planner. Weddings today are a really big deal, and often women like to use the services of a professional wedding planner. Next up, she wants to secure the venue for her reception.
She knows most venues book out months in advance, so locking in that venue is high on her priority list. After that comes the wedding dress, so she begins the search for the perfect dress at an affordable price.
Next is our florist. The bride-to-be will want to begin selecting her floral arrangements for both the wedding and the reception. Then after the florist comes the wedding cake… the printer for the invitations and thank you cards… and depending on the financial ability of the bride to be, she may also be interested in hiring a limo… a DJ for the reception… a travel planner for the honeymoon… the hotel… catering and so on.
This event chain is typical of this industry. And for the florist, it specifically identifies a multitude of potential and very lucrative JV partners. But here’s why this becomes so important.
Every business ABOVE the florist has the potential to ENDORSE and SEND prospects to the florist. Unfortunately, the florist has NO control over that flow of prospects. Every business above the florist controls the JV relationship, so it’s critical the florist create such a compelling offer and relationship with these businesses that they feel obligated to send prospects their way.
But here’s what’s even better. The florist controls the prospect flow to ALL the businesses BELOW them in the chain, and by establishing specific processes and procedures to make sure their customers use those businesses, the florist can negotiate compelling offers with those business owners as well. So consider these numbers.
Let’s say this florist cultivates a JV relationship with at least one of each business throughout this entire chain. Staying ultra-conservative with our estimates, would you agree this florist… since they have NO control over the flow of prospects from these businesses… is it likely they could obtain at least ONE referral each month from just one of the businesses above them?
OK, would you also agree conservatively that since the florist controls the flow of prospects to the businesses BELOW them… that they could easily send at least ONE referral to EACH one of them every month? Keep in mind these are VERY conservative estimates we’re using here.
Since the average floral bill for a wedding is $3,000… then just ONE referral per month from those businesses ABOVE the florist increases their annual revenue by $36,000. Now let’s consider the businesses BELOW the florist where the florist controls the referrals. Let’s start with the wedding cake maker.
The average sales price for a wedding cake is also $3,000, and the florist could easily negotiate a 10% referral fee. So, just a single referral per month produces an additional annual increase of $3,600 for the florist.
Now consider the printer. The average sales price for printing is $1,000, and the florist again could receive a 10% referral fee, so that single referral per month produces an additional annual increase of $1,200.
If we stop there, this florist has just increased their annual revenue by more than $40,000… and that’s using ridiculously conservative numbers. Imagine if you continued to add up the revenue produced by all the additional referral fees the florist would earn from all the other vendors in this chain.
This same process holds true for businesses that aren’t in a chain. But just like the florist, they simply identify partners who service the exact same type of clients that need or want what they sell. Now I realize this looks easy, but it’s not… and here’s why.
You not only have to properly identify who would make an excellent joint venture partner for your business… but you also must determine the order to approach each one… how to approach them… and when to approach them. It’s critical you do this properly or you wind up burning through all of your potential JV partners and come out with nothing in return.
Let me ask you a quick question. Just off the top of your head, how many potential JV partners would you estimate might be a fit for what you sell? Would you believe that I could identify more than a dozen for your profession? So conservatively, how many referrals would you estimate might be possible if a dozen other businesses were compelled to refer their customers to you for additional purchases?
Conservatively, let’s say you only get 3 referrals every month that buy from you. That’s less than one per week. How much additional revenue would that add monthly? Now multiply that by 12 to see your annual revenue increase.
One more thing before we move on. Remember earlier we discussed the critical importance of creating a highly compelling informational offer that would promise so much value to prospects that they would knock your door down to get it?
Suppose the florist offered this informational offer in their marketing, “5 Things Every Bride Should Know to Avoid Disaster on Their Wedding Day”. This offer would place TONS of prospects into their drip campaign and result in a tremendous increase in sales. Those new sales can then be referred to their new JV partners and they collect multiple referral fees every month.
This would absolutely dwarf the revenue we just uncovered for the florist in this example. What I find really exciting about JV’s is this is a strategy I help my clients implement immediately… and it begins generating instant cash flow for them right out of the gate.
In a recent case study I conducted, I found $75,000 in additional annual revenue just using the JV strategy.
And again, that’s revenue that business will generate year after year after year.
$75,000 in additional annual revenue increases the valuation of that business somewhere in the range of $225,000 – $300,000.
Click the image below to learn more about our E-Learning Marketing System 2 Part Series on Building Your Business Fast With Joint Ventures
Get your free copy of my marketing strategies e-book HERE
How would it feel if you woke up every day and got to authentically make an impact on people’s lives in a whole new way, while at the same time achieving NEXT LEVEL success for yourself and your family?
I’m beyond excited… I just found out two people I admire at the highest level, Tony Robbins and Dean Graziosi are going LIVE again (the only time this year) on Thursday, February 27th to share their proven strategies on how to use what you already know to tap into the exploding knowledge industry.
And you can attend for free by reserving your spot at the link below!
You see, I’ve been a part of their movement growing to 24,000+ people like you who have learned their “KBB Method” for extracting your knowledge or your experience, sharing it with those who want it, impacting lives and experiencing unprecedented success for themselves along the way…
And I’ve been keeping my fingers crossed that they would do this training again because I know that this could show you how to bring more passion, more purpose and more success into your life!
These guys rocked the world last year when they pulled back the curtain on their 60+ years combined experience and willingly shared their secrets for all of us to use.
This FREE training will only happen ONCE this year, and I can’t promise they will ever do it again. So don’t miss your chance…
Click our special registration link below to save your spot today before it’s too late.
Thousands of people with lives similar to yours have joined this movement to gain knowledge. It’s time to get off the sidelines and join them.
Just look at some of the comments they’ve gotten in their private Facebook group:*
“I should’ve had to pay $15k for this! The amount of material & knowledge received? Dean and Tony are total class for “giving ”this away! #mindblown” – T.S.
“Dean and Tony have me shaking, crying, laughing, having multiple breakdowns followed immediately by breakthroughs…” – Karen
“What an unbelievable collection of Wisdom and Guidance. Many thanks to Dean Graziosi and Tony Robbins. Both are forces for good and inspire the whole world.” -Roni
Even if you’re not sure this is for you, I’d say join and attend anyway. When else can you see two masters like these guys live, sharing, inspiring and delivering new capabilities for a next level life.
Click the link below and then mark your calendar now -> Thursday February 27th at 5 pm PST
P.S. When you register, you’re immediately going to get a brand new, never before seen pre-training from Tony and Dean (no one else will ever get a chance to see this rare training except for us).
P.P.S. If for some crazy reason you don’t know Tony Robbins and Dean Graziosi let me share that really quick…
Together they are multiple NY times best selling authors, world leading coaches, philanthropists and have started or are a part of over 60 companies, that have impacted millions of lives and generated billions of dollars.
For them to team up and give you a free training is a once in a lifetime opportunity. Click the link below and reserve your spot before it’s too late.
*Statements contained here were made by individuals who participated in the KBB training. KBB did not pay any consideration for these statements and individuals do not have any relationship with KBB other than participating in our training.
For those who desire to be GREAT, to do AMAZING things, and have an IMPACT on the world. HIGH ACHIEVERS is a 12-week coaching and training program that’s designed to give you the “unfair” advantage that you’re seeking.
The most powerful way to shape our lives is to get ourselves to take action. The difference in the results that people produce comes down to what they’ve done differently from others in the same situation.
This program is only designed for Serious Achievers who will completely commit to succeeding in 2020!
We are not holding anything back in this program. It has been completely designed to help you achieve the success you’ve been dreaming of.
The program includes:
Personal One-on-One Coaching
A Powerful and Dynamic Online Training Program,
Professional Group Coaching,
Membership to the Inner Circle Mastermind,
Plus more, which we will discuss after your application is accepted
This program Is Not For Everyone and it may not be for you. But if you are SERIOUS about becoming a High Achiever and making 2020 the Best Year Ever, complete the application form below and we will contact you.
*Limited Spots Available | First come, first served
In a recent post, we talked about making the first contact with your prospective big fish and how to make a positive first impression. Today we’re going to talk about feeling out the personality of your prospective big fish to match the right salesperson to the fish.
You need to do this in two steps:
Profile your salespeople’s personalities.
Match the right salesperson to your target fish.
There are essentially three different selling personalities:
This salesperson offers knowledge, experience, comfort, and trust. They can make a concerned customer feel at ease. In order to be successful, they need plenty of information, a demo of the product/service, references and case studies, if possible.
Much like it sounds this is a salesperson that shines at building relationships. They can instantly relate to the prospective client and make them seem like old friends in no time. They work best with clients who are looking for friendship, information and in a similar peer group as the salesperson. This can include anything from age and culture to hobbies and nightlife. While sharing experiences can be beneficial to creating a new relationship, your salesperson must always keep it professional and dignified. The resource’s this personality type needs is help pairing with the right client, entertainment (or schmoozing) budget and the right information to meet the client’s needs.
The Pit Bull
Obviously, this personality type is a little more aggressive than the others. They are all about business and the bottom line. While this may seem harsh to a lot of people, there is a set of businesspeople out there that want the same thing and respect someone who can get down to business and the benefits of a partnership. This salesperson will need to be trusted with a little authority as they will likely be closing deals on the spot. They’ll need plenty of resources and access to products and services. They are best placed in environments where they can work independently, exercise their authoritative discretion and seal deals quickly.
These can all be successful when each is used in the right selling environment. You can easily see how matching the right salesperson for the client can secure more big fish and for a longer period of time.
If you need help figuring out which of your salespeople fit into these three areas, try our GUIDED TOUR and work with one of our amazing coaches to get your big fish plan in action.
“You’d best change your point of view. Stop blaming me, thinking I’m the problem. If you think I’m the problem, then you ahve to change me. If you realize that you’re the problem, then you can change yourself, learn something and grow wiser. Most people want everyone else in the world to change but themselves. Let me tell you, it’s easier to change yourself than everyone else.”
Rich Dad from Rich Dad Poor Dad by Robert Kiyosaki
In a recent post we talked about how to learn about your big fish and prepare for the first contact you’ll make with them. This first contact is essential to your success. You need to instill confidence in them. They need to know you can fulfill exactly what you are offering on time, at a good price and at the quality you promise.
Today we’ll actually go through the big approach and how to make that perfect first impression. Before you put together your approach plan, you need to choose which big fish you’re going after. Take a look at your notes and the research you’ve done about prospective fish. Then decide which one will be the easiest approach to start out with.
There are a series of things to go through in choosing which fish to start with. They are:
Position Your Business
Compile Your Hit List
Select the Best Target
Position Your Business
You need to position your business to make the first move by listing your revenue streams, ID and list your operational procedures, where your fish is initially positioned, your big-customer research, and putting it all together.
Compile Your Hit List
Start with a list of all the companies you’ve been considering. Then narrow it down to the ones you know could use your products or services. Don’t overlook obvious choices, whether they are big or small. Even small companies could be big fish in the future.
Select the Best Target
Once you’ve got your list narrowed down, you need to decide which one is the best fish to start with. You need to consider a couple of things:
Which have the most purchasing resources to spend?
Does their company vision compliment yours?
What are their employee incentive programs as they relate to your products/services?
What’s the company’s real need for you?
Will the partnership lead you off-course?
Now you should have a target in mind to start with. It’s time to plan your approach and execute that plan.
Here’s the step-by-step plan to help you make a good first impression:
Build and analyze your database. Divide your leads into three different categories: hot leads, great fits and secondary leads.
Send out introductory mailings to your target to introduce yourself, your company, services, products, and vision. They need to be short, clean and concise.
Follow up with your first phone call 2-3 days after they would have received the mailings. During the phone call find out whom you need to be speaking with in the future and try to set up a meet with the right person.
Follow up your phone call with another mailing that thanks them for taking the time to speak with you and offer more details about your products/services. Use this letter and opportunity to set up a meeting to do a presentation.
Follow up the letter with another phone call a couple of days after they would have received the letter. This phone call is to help you further develop your relationship with the prospective client. You should also be able to set up a presentation meeting with them.
Call again a week later if they haven’t agreed to a meeting or presentation. Ask if they received your creative letter (the second one) and if they have a minute when you can stop by and introduce yourself in person.
Now, don’t be upset if you don’t seal the deal right away. Some people simply take a little longer to woo. This can all be a little intimidating at first, but when you know you are offering a quality product/service, you can’t go wrong.
Once you’ve gone through this process and make first contact (and hopefully a good first impression) it’s time to put your best face forward, which means sending the right salesperson to seal the deal.
If you need help putting together your approach and make a good first impression, try our GUIDED TOUR to work with a coach and have access to a wealth of great resources and tools, or join our Inner Circle Mastermind to work with an amazing group of success-focused entrepreneurs.
The E-Learning Marketing System is the most powerful and dynamic do-it-yourself client attraction program ever created. As a business coach it has been one of my power powerful tools to help the clients I work with on a one-on-one basis, as well as those that are just looking for a do-it-yourself coaching program.
We created this program to give every small business owner unrestricted access to the tools, resources and support they need to build whatever size business they want.
To learn more about the E-Learning Marketing System take the free guided tour:
People are looking for a leader to follow. They are looking for someone that can encourage them, inspire them, and give them hope.
If you want to be a great leader in any area of your life, you’ll be successful if you can become great in three areas. You must be confident, you must inspire and you must lead by example.
Without confidence, you are not the person that people want to follow. But when you confidently step forward and show them the way, people will follow you.
As a business coach, I don’t have to be an expert in every industry that my clients are in, but I have to be confident that I am an expert in helping to develop the strategies and systems that will work within their industries. If I wasn’t confident in that, why would they listen to me?
Confidence is key to your success!
People want to follow those that inspire them to do bigger and better things.
This is why we read books, listen to podcasts and look for mentors. When we hear the stories of how others achieved success, it gives us hope that we can do the same things. It gives us the confidence to start our own journey.
As a leader, you need to be able to inspire them to start their journey.
Lead By Example
People are looking for a leader that can show them the way. They want to be shown the things that work and the things that they should avoid. They want to see that you’ve done the things that they want to do. When they see that you are leading by example, they will follow.
You need to have the confidence to be the leader, the person who inspires others and lead by example to show others the way. If you are able to develop these three attributes, you’ll be able to lead many to success! If you’re interested in developing or sharing your skills with other great leaders join our Inner Circle Mastermind.
In the last post we talked about how to bring the big-company mindset into your business and your team. This will help you overcome the mental obstacles that will keep you from being successful. Now that you’ve learned how to overcome that, we’re going to talk about who your fish is. It’s important to know about the fish you are looking for before you put a plan together. We’re also going to take a moment to talk about the potential “red tape” you may encounter along the way.
The most important thing to know about your fish is their purchasing habits and procedures. There are four main things you need to work on in order to be successful:
Responsibilities: You need to know who has influence over purchasing, who does the actual buying and who can kill a deal if they want.
Get on Their List: You need to know how to get on their list of people to buy from. Your name needs to not only be on the list but at the top of it and in as many categories as possible for the more interaction. Ask about a procurement program and what you need to do to go through the application process.
Lingo: You need to learn the company’s unique language and communications methods. These could include report names, buzzwords and even the nicknames they have for their employees.
Fiscal Budgets: It’s essential you know the fish’s fiscal budget, so you know exactly when they are planning their expenses for the year.
Now that we’ve talked a little about what you need to know about your fish, let’s take a quick look at the “red tape”.
Bureaucracy might as well be a four-letter word with the emotions it stirs in all of us. “Red tape” is a necessary evil, but one you can use to learn from. There are two ways to learn from their system:
Analyze their activity.
Review their correspondence.
Being an outsider looking in can have its advantages too. If you hate dealing with the “red tape”, imagine how their employees feel dealing with it. If they need to crunch some numbers, offer to do it. If they need more info, make sure you are giving it to them in a user-friendly way.
The things we talked about in this lesson will help you prepare for the big approach. If you need help with any of this, try our GUIDED TOURto find the right tools to get the job done.