If you’re an entrepreneur, your number one goal is to make money. Unfortunately, many entrepreneurs are grasping at straws and don’t know how to really simplify the process of making money. Join Jay on today’s Black Entrepreneur Blueprint podcast episode # 411 as he gives you the one simple formula anybody can use to make more money.
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BLACK ENTREPRENEUR BLUEPRINT # 411 – SHOW NOTES
Problem – Solution – Result – Create PSR Funnels for all your products and/or services.
- Problems I can solve
- Solutions I can provide (with my products or services)
- Results I can give (and what do those results mean to my customers – what does that mean?) Tap into their psyche
First, I want to tell you a story about how I learned this: Talk about MY ADT dealership and PSR concept and how I had to tap into the psyche of my customers also. I was struggling at first and I didn’t know if I was going to make it. But I used the formula and really dug down deep and turned it around. I took a new business and became one of the top ADT dealers in Philly within two years. At first, I was struggling by just selling a commodity, but we overcame that by using the Problem – Solution – Result formula. I retrained my sales reps to focus on the “what does it mean?” as opposed to the features of the system. Our sales literally tripled within six months after changing the focus and the dialogue to meet and address my customer’s true concerns and wants.
Problem – breaking into homes/home invasions
Solution – American Protection Services
Result – Stop people from breaking into their homes
- WHAT DOES THAT MEAN?
- I can leave my house and know it’s secured what does that mean? I know the chances of breaking into my home are much less than in other homes that are not protected. What does that mean? I don’t have to worry my valuable items will be stolen. What does that mean? It’s going to save me money because I won’t have to replace anything and have an increase in my homeowner’s insurance premium.
- Mr & Mrs. Jones, do you have children? What does having the security system mean for them? I know my kids will be protected when I’m at work or out. “So really, we’re not talking about a security system, we’re talking about “peace of mind.” Let me show you how our special package can give you that peace of mind? THAT ONE SENTENCE TRIPLED MY SALES!
YOU’RE NOT SELLING A SECURITY SYSTEM – YOU’RE SELLING “PEACE OF MIND”
When YOU start focusing on the psyche and finding “what it truly meant to somebody, that’s when you can craft the right message to convert more sales. They didn’t want an alarm, they wanted peace of mind. SELL TO “PEACE OF MIND.”
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