Leaving Money on the Table

Hi, Everyone!

Here’s a few thoughts to set the stage for tomorrow’s Building a Career That Matters webinar, “Problem Area #6: Leaving Money on the Table”:

Beyond the hundreds to thousands of dollars clients will pay for a single hour of your time lies some REAL earnings potential and this session describes over a dozen of additional sources of income which can easily dwarf the revenue most professionals are happy to settle for.  Maximizing your billings is what it’s all about — and every deal leaves money on the table unless you know how to capture it for yourself.

It is a massive problem within our industry – and every speaker, trainer, coach or consultant is vulnerable. Here’s just a sample of situations in which human development professionals find themselves:

Many speakers are content to receive a fee for their presentation and the back-of-room product sales, but aren’t ready to (or interested in) providing the in-depth training and reinforcement the client may need to thoroughly implement the speaker’s advice.

Trainers will sell a two-day training program for $10-$12,000, but won’t add on any sort of additional billable time such as follow-ups, group coaching — and even before the training begins, they won’t customize the program for the clients’ needs. Generally there is a lot of “selling an event” instead of a long-term solution.

Most coaches leave money on the table when they’re pursing large executive coaching contracts. If you think about it, they are invariably providing coaching to a person who has already gone through some sort of company sponsored training program — and this means that the coach may be telling them things or encouraging them to do things that run parallel to what they have already been taught or even against what the previous training had said. A lot of these coaches could pick up a significantly more money by offering to do the training programs as well to make everything run congruently. Most of these coaches have never even thought about doing any sort of group program or offering any sort of training services — and therefore don’t have anything to offer to pick-up this extra money from the table.

Consultants often choose to remain more behind-the-scenes as they provide their services, but aren’t prepared to take advantage of the speaking, training or coaching opportunities which arise from the consulting work they do.

Bottom line is that there is ALWAYS something more that a client might view as both VALUABLE and WORTH PAYING FOR. If you give it away, that means you’re spending your profits, because a client would have paid for them. As you sweeten a deal, remember to NEVER give away what your client may have actually been willing to purchase. Above all, even if you DO choose to include some of these additional services, MAKE SURE that the client SEES in your proposal the increased VALUE they are getting.

Lots of ideas heading your way — so be sure to register for the call!

-T-

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One Response to Leaving Money on the Table

  1. T – LOVE THE PICTURE!!! I can see that glint in your eye.

    Thanks for all that you do for human resource professionals!
    Kayte

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