4 Proven Steps to Overcoming Client Objections

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Objections from buyers of consulting services are commonplace.

Yet most consultants find themselves shutting tight like a clam and hoping they don’t encounter a buyer’s objection.

That’s a bad move and won’t get you anywhere.

In fact, if you want to win more consulting business you’ll want to do the exact opposite.

You’ll want to be prepared to deal with objections. Learn how to respond and handle them so you can turn a ‘no’ equivalent into a resounding “Yes.”

In this article I’m going to share with you and together explore four of the most common client objections.

Client Objection #1

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One of the most common objections consultants hear is “We don’t have the budget allocated for this.”

When a consulting client or buyer says this don’t accept it and end the conversation.

Prepare to ask the buyer questions and explore the situation with them.

Every company, unless they are deep into bankruptcy has costs. They are spending money.

The question isn’t if they have the budget. The question is, will they direct that money towards and invest it in and with you?

1) Redirect the budget – The first recommendation I have for you is to redirect the budget. Our role as consultants is to demonstrate to buyers that they will be better investing with us. Show them that they will receive greater value and ROI with you than they will by investing in other areas. When you do this effectively they will want to redirect their budget from other areas to invest it in your services.

That doesn’t mean you give up. Instead, ask your buyer the right questions.

2) Where is the budget going? – In order for the buyer to redirect the budget you’ll need more information. Find out where their current budget is going? Where are they spending the money? Can you show them how to direct their budget in a more effective manner? If you can, they’ll often move their budget to you.

3) Is it a priority? – If your offer isn’t a priority for the buyer there’s little reason for them to take action on it now. Probe to find out what their current priorities are. Do they make sense? Is your offer going to solve their biggest problem? Will it help them achieve a result that they see as a priority? If yes, make sure you communicate that to them. If it doesn’t, and they are already focused on the right priorities, encourage them to keep taking action on that. You can always work with them at a later stage. Continue Reading

VIDEO: 2 Types of Consulting Retainers and How to Use Them Effectively

Consulting retainers are one of the most effective pricing models you can use. In this video I share the 2 types of consulting retainers and how to use them effectively with clients.

What you’ll learn in this video:

  • The two types of retainers consultants use
  • Why retainers are one of the most effective way to model your consulting fees
  • Why ONE of the two retainers is far superior to the other
  • How to structure consulting retainers with clients

If you enjoy the video please let me know and click the share button to share with your social networks.

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You can find additional resources on consulting retainers in these articles, as well as much greater detail on consulting fees INCLUDING consulting retainers in a step-by-step guide in the Consulting Success System.

Consulting Retainers

Today, I want to talk to you about the two types of consulting retainers. Before we actually get into the retainers and what they mean and how to use them, let’s actually explore what consulting retainers are. Continue Reading

How to Increase Your Consulting Fees By Communicating Greater Value

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Below is my chapter from the bestselling book Creating Business Growth. Within 1 day of publication Creating Business Growth became an Amazon Bestseller in 8 countries.

The fastest way to grow your business is to increase your prices. (<< Click to ReTweet This) This is hands down the most direct and effective way to grow your revenues.

No longer is the conversation centered around “Buy this because it’s your only choice.” It becomes, “which option would be best for you?” That’s a simple yet powerful difference.

To increase your prices and make more money than ever before, your focus must be on providing value.

And the more value you deliver, the more you can charge.

Once you adopt this approach, your revenue and income can skyrocket. Many of my clients have doubled and even tripled their revenues in months, not years, as a direct result of increasing their prices.

Tip #1-It’s Not About YOU

Okay, we’ve established that to charge more you need to provide greater value. So how do you do that?

First, you need to learn how to demonstrate and communicate the value you are delivering. The most successful business owners do so by following the approach below:

  1. They start by listening. To successfully communicate the value you deliver, you’ll need to discover your buyers’ biggest problems and the desired results they hope to achieve in choosing your product or service.
  1. They ask the right questions. To learn exactly what your buyer cares about most, you should ask as many questions as you can to discover the business impact caused by the problem they are experiencing. Use these questions to guide the conversation, and you will receive valuable information that helps you better communicate the value you are delivering. For example:
  • What is the main area you’d like to improve in your business/life?
  • What is its current impact on your business/life?
  • How long have you been dealing with it?
  • Why have you decided to deal with it now?
  • Tell me more about your current situation (income/weight/health/happiness/morale, etc.) and how you’d like it to change?
  • What are the greatest challenges holding you back from achieving your goals?
  • What is the value of one new project to your business, and how much will dealing with this problem help you achieve stronger business growth?
  1. They determine real value. Once you’ve asked lots of good questions and have plenty of information, you’ll be able to determine the real value of your offering to the buyer. If your buyer wants to attract more clients, and one new client is worth $35,000, that’s critical information to know, and I’ll show you how to use it shortly.
  1. They understand the cost of standing still. When it comes to communicating the value you provide to clients, it’s easy to overlook the cost of staying where they are. In your buyer’s case, not only do they stand to gain from the benefits they’ll receive from buying your product or service; they’re also losing money every day, week, and month that they don’t change their situation and solve the problem they have. If your buyer wants better health, every day they don’t improve their health increases their risk of additional health problems. If they want to attract more clients and increase their revenue, every day they don’t take action constitutes lost revenue for them. If they are currently earning $20k a month and want to increase that to $50k a month, they are losing the difference with each and every month that goes by without action.
  1. They think and speak in terms of value, not cost. As you begin to understand the true value you are providing, make sure it’s in line with your pricing; i.e. if your product or service will save your buyer $12k (the value), you’ll have a hard time selling your solution for $41k.

On the other hand, if your offering produces $250k in value for your buyer, charging $41k is right on the mark. Later, I’ll share how to set your pricing to ensure the right pricing-to-return-on-investment ratio for buyers. Continue Reading

5 Keys to Increase Consulting Fees

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“I don’t have the money to hire another employee” said the caller on the other line.

I was speaking with a consulting firm owner from Jamaica.

Would you prefer to work with more clients making less per project? Or fewer clients paying you more? If you’re like most consultants you opted for the second option.

She told me how she’d been feeling stuck. Wanting to grow her business yet not having the resources available to feed that growth.

“Your issue isn’t just resources” I told her. “It’s that you’re not making enough per project.”

If she increased her consulting fees she’d be able to earn more with every project she takes on.

1. I’ll lose clients

This is the first concern she raised. And it’s a very common one. This belief however is unfounded. Charging more doesn’t mean you’ll lose clients. In fact, most consultants that take a strategic approach to increasing their fees don’t lose any clients.

Increasing your fees pushes away clients that aren’t ideal and attracts the right type of clients. I’ll share more about that in just a minute.

Would you prefer to work with more clients making less per project? Or fewer clients paying you more? If you’re like most consultants you opted for the second option.

2. Competition charges less

Another concern I hear all the time from consultants is that “my competition doesn’t charge that much.” And that’s the exact reason that you should.

Price is only one factor in the buying decision your ideal clients will go through. If you provide the exact same services and have the same approach as your competitors charging more will be tough. When you take a strategic approach that changes. Clients will ‘see’ a clear reason to choose you – even when you charge more. Continue Reading

What Does Per Diem Mean for Consultants

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Per diem simply means “for each day” or “per day” (wikipedia).

As a consultant you’ll run into this word all the time. It’s most often used to describe the amount of money you’re given or allowed to use per day.

Let’s say you’re attending a consulting conference. Your organization may offer you a $400 per diem to cover your hotel, meals, travel, etc.

Instead of expecting your client to pay for your meals or travel, you can simply include it in your proposal as part of the project fee.

To clarify, if you’re an independent consultant you won’t be finding much use in a per diem. This is most common when working for a company or organization as an employee.

That said, some larger companies, government and organizations do offer contractors and consultants per diem in some situations.

Consultants sometimes wonder whether their client will offer them a per diem to visit the client site.

The answer is, yes, some will. However, I’m not a big believer in this model.

Instead of expecting your client to pay for your meals or travel, you can simply include it in your proposal as part of the project fee. Continue Reading

How to Get More Consulting Clients and Grow Your Income – Guaranteed

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I sat around a U-shaped table at the Wailea Beach Resort and Spa in Maui with successful consultants and 7- and 8-figure business owners.

Each of us talked about the plans for our business and how we’d achieve 40-50% growth in the next 3 months. Many of us have seen 5X-10X growth in revenues and profits in the last 6 months.

When you surround yourself with people that are successful, people that have already achieved what you want to achieve, your success is almost guaranteed.

Later that night as a few of us sat on the terrace of the hotel’s restaurant and bar over-looking the ocean and palm trees swaying, one of my coaches, Tony, said something that struck me.

He said “Now is the least you’ll ever make.”

It took a few seconds to process the impact of that statement.

Tony continued, “…unless you give up, there’s only one way your business will go, and that’s up.”

Now I knew exactly what Tony was saying, and I knew it to be true, because I’d seen the same results in my business.

Ever since I started having coaches in my life, my business has only gone one way, and that’s up.

When you surround yourself with people that are successful, people that have already achieved what you want to achieve, your success is almost guaranteed.

I say almost, because you still have to take action. A great coach will help you figure out exactly what you need to do to get the results you want – because they have the know-how and have done it themselves.

Your job is then to take what they’ve shared with you and implement. Continue Reading

How to Increase Your Consulting Fees Over 712%

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If you’ve ever felt stuck and that you’re not earning what you believe you should be, you need to listen to this interview.

Barb Langlois is a consultant in my coaching program. She’s also an author, speaker and trainer. Barb is very good at what she does. Yet she was struggling to consistently attract her ideal clients and receive high fees for the value she created for her clients.

In this interview below Barb shares how we tackled all of these challenges and why she’s now able to attract and land more clients than ever before. You’ll also hear how she increased her fees over 700% and turned a short one time client project into a full year.

Do you want more clients? Are you ready to learn the proven system and process consultants are using to attract their ideal clients and receive higher fees consistently? If so, apply for my Marketing for Consultants coaching program.

This is the program where I personally work with you to reach your goals faster than you ever thought possible. If you’re tired of not knowing what to do, how to do it, and why what you’re doing now isn’t working, apply and let’s setup a time to talk. I’ll show you step-by-step exactly what you need to do to start getting results.

Marketing for Consultants Survey Results 2014

The results are in…

We asked over 15,000 consultants how they market their consulting services as we do each year.

We’ve compiled the results and created an infographic that shows you what type of marketing consultants are finding most effective and what is the most ineffective.

See the full infographic with survey results below: Continue Reading

How to Turn a $5K Consulting Project Into $54K

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Ken Blankenfeld is a consultant to the construction industry. He’s a corporate veteran managing projects valued at more than $500 Million.

In his previous role as a VP, before going out as a consultant, Ken took the company from $6 Million to $85 Million in four years.

Yet when he launched his consulting business he found it challenging to consistently land his ideal clients.

Since Ken joined my coaching program he’s seeing marketing in a different way and the results show. In this interview, you’ll learn how Ken turned a $5K consulting project into a $54K project – and he says it was the easiest sale he’s made (and he doesn’t like selling!).

If you’d like to learn how to consistently attract your ideal clients, increase your income and grow your business fill in the form here and let’s setup a time to talk.

Increase Your Fees with the Right Consulting Clients

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The average price for a detached home in my city is $1.29M (yes, that’s mi-lli-on).

As a result many young couples are moving into the suburbs to find a home they can afford.

Remember, you can always earn more. There is no limit to what you can earn as a consultant.

Others are deciding to re-arrange their priorities and live in a condo in the city – giving up space for convenience.

The housing market is like consulting.

I drive or walk by homes that sell for $4-10M almost every day.

That’s a great deal of money. Yet, people buy and sell these homes throughout the city all the time.

As a consultant you might want to earn more and yet believe that you can’t raise your fees…that people won’t be willing to pay more.

Here’s the thing, you can always charge more.

Just like I can show you a house that is listed for $5M I can also point one out that is on for $7.5M and even $15M.

And like one consultant can charge $5000 per project, I can show you another consultant that receives $50,000 per project, and another that gets $200,000 per project. Continue Reading