Ray Edwards is a copywriter and marketer who has worked with successful clients like Tony Robins, Jack Canfield, and Jeff Walker. He is the host of a weekly podcast, The Ray Edwards Show, and the author of Writing Riches, about effective copywriting.
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Three Questions for a Value Conversation
- What is the most important thing you can share about pricing?
- You should set your prices based on the value you bring to your client, which assumes:
- You know the value you bring to your client.
- You understand the cost of them not doing business with you.
- If you under price, you will have to take on more clients than you can serve at your best.
- You have to own the value you create, the responsibility to communicate that value and the responsibility to price that value.
- To serve your customer the best, you have to create margin through pricing.
- You should set your prices based on the value you bring to your client, which assumes:
- How do you determine the value of something that is intangible?
- You have to find a way make the intangible, tangible.
- Ray explains how to determine the value of creating a logo.
- We make split-second decisions about how much something is worth. – Blink by Malcolm Gladwell
- Use the value you have created for other customers as a benchmark.
- Use Google to research the typical increase in value for a product or service.
- What is one of your favorite questions to ask when having a value conversation?
- Outcome Question – What must have happened one year from now for you to be happy with your progress? – The Dan Sullivan Question
- Doing Nothing Question – What is the cost to keep doing what you are doing?
- Decision Question – Part of serving the customer is facilitating an answer in a timely manner.
- An objection is the customer asking you to help them answer a question.
- How do you determine whether you actually delivered value?
- Agree at the start of the project what success looks like, and then it is easy to determine “Did we achieve it?”
- Perform an After Action Review.
Biblical View of Value
- What is a Biblical view of creating value?
- Golden Rule – Treat other people the way you want to be treated.
- As a believer, your view of value is rooted in the inherent value of a human being.
- As a believer, you create maximum value when you walk in your calling.
- What is a Biblical view of setting a price?
- The buyer should receive more value than the price he pays.
- Proverbs 11:26 – …blessing will be on the head of him who sells it [grain].
- What is one of your favorite Bible stories about business?
- Mark 10:17-28 – The Rich Young Ruler
- Ray's Paraphrase – This money stuff, it will destroy you. If you follow me, I will give 100 times more money than you have now.
- It is never about the money. It is about who or what you worship.
- What are the main concepts of your talk “Spiritual Foundations That Produce Wealth”?
- There are two mindsets or spirits regarding prosperity: Greed and Poverty.
- If your soul is not prospering (mind, will, emotions), you will not prosper financially.
- The secret to a prosperous soul is renewing your mind (thoughts).
- What is the best value you have ever created for a customer?
- What started as a copywriting project, became a coaching project to create a real estate product and generated $1.7 million in revenue.
- Ray coached his customer at the moment of indecision to press forward despite the banking collapse of 2008.
About Ray Edwards
- Podcast: The Ray Edwards Show
- Website: RayEdwards.com
- Twitter: @RayEdwards
Amazing interview!
Thank you Tina! Ray brought his A-game.