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The Mindset for Creating Value with Dennis McIntee

The Mindset for Creating Value with Dennis McIntee – 088

March 15, 2016 by Kirk Bowman 1 Comment

The first step to pricing based on value is to believe you create value. Belief starts in your mind. My guest, Dennis McIntee, teaches managers and administrators to create a high-performance culture within their organization. The only way he can challenge his customers to reach higher is if he has a value mindset. Two requirements to achieving a value mindset are shutting down the internal voice that creates fear and maintaining an intense focus on serving the customer. In this episode, Dennis shares how he establishes and maintains a mindset that creates significant value for his customer.

http://traffic.libsyn.com/artofvalue/088-The-Mindset-for-Creating-Value.mp3

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How Does the Customer See Value?

  • What is the most important thing you can share about pricing?
    • The value of the product or service is determined by the customer, not by you.
    • Go through an interview process to see what the customer really wants.
    • There is a cost for not getting what you want.
    • Look several months out to see what would have to happen to make the engagement great.
    • Ask a lot of questions to unearth value, as opposed to coming with a pre-determined notion of the customer's needs.
    • In a coaching engagement, start off by asking what would make the day a home run.
    • There is a gap between expectations and reality: the bigger the gap, the bigger the frustration.
    • If you do not clarify expectations, you will not do a good job of serving your customer.
    • You have to peel it like an onion, starting with “What do you want?”
    • Keep asking why it is important and what it would accomplish until you get through 5 layers.
    • The answer is inside the customer; your job is to help him get clarity on what he wants.
    • When the customer has clarity, you can help him form an action plan.
    • When the heart decides the destination, the mind begins to draw the map.
  • What have you learned about pricing in the last year?
    • This year has been an internal battle.
    • Believing in yourself and the value you provide is the first step.
    • As goes your self-image, so goes your value.
    • The fear never goes away; just step into it.
    • Ray Edwards told him that you feel the same fear at $5000 or $50,000.
    • If the fear goes away, you might be losing some self-awareness.
    • Expansion and growth are uncomfortable.
    • A relationship and a process are required to live at a higher level.
    • Be around people who are a little bigger than you are.
    • You are the average of the 5 people you hang out with the most.
    • Upgrade your relationships and friendships to be around people who see and dream bigger.

[clickToTweet tweet=”Value of the product/service is determined by the customer, not by you. #pricing #marketing” quote=”The value of the product or service is determined by the customer, not by you.”]

A Mindset of Confidence and Fear

  • How do you increase your confidence in the value you create?
    • Monitor and train your self-talk.
    • As a man thinks in his heart, so is he. – Proverbs 23:7
    • Your thinking is how you talk to yourself.
    • Live intentionally.
    • Practical Exercise: Set alarms throughout the day to check into whether your are dialed into these four states (or the four you choose):
      • Contentment
      • Confidence
      • Connection
      • Courageousness
  • How do you handle fear when quoting a “new” price?
    • Ask yourself what a confident person would do.
    • Put on those behaviors.
    • In learning to put on the behavior, it changes your mindset.
    • Doctors do not justify themselves; why should those in service professions?
    • A higher price attracts a higher level person, because of the higher perceived value.
    • A free workshop can attract people that are more difficult to deal with.
    • When you have skin in the game, you value the service more, and your thinking will change.
    • You do your best work for people who are paying you the best.
  • What is the challenge of using value pricing with public speaking?
    • It is much easier to define ROI with corporations than with associations.
    • When working with association event planners, the budget is the budget, done by committee, with little variance.
    • Providing options for the event planners to include books, products, and extra services, allows those event planners to pull money from other portions of the budget.
    • Very few people are offering those options, so it sets you apart.
      • If you have a product, you can offer it pre-sold.
      • You could provide bulk pricing for attendees.
    • Bundles are also a good option.
      • Offer a recording of the session as part of the price.
    • Be creative by asking questions of the event planner, from a viewpoint of service.
    • Determine what else can you do to bless the customer.
    • Service opens the door to people's hearts.
    • If you want to reach the heart with through offer, you have to figure out how to best serve them.

[clickToTweet tweet=”You do your best work for people who are paying you the best. #pricing #marketing” quote=”You do your best work for people who are paying you the best.”]

GPS (Goals, Passions, Struggles)

  • How do you use GPS (goals, passions, struggles) in a conversation?
    • Like a GPS, it tells you where you are and where you are going.
    • Goals are certain outcomes you want to see.
    • Passions are what you love.
    • Struggles are the constraints holding you back.
    • Determine how to insert yourself to become the answer to one of these areas and then money is never an issue.
    • Examples of questions to get at a customer's GPS:
      • What are some outcomes you are looking for this year?
      • What are some things that would make this year great?
      • What are some challenges that your industry has? (They will tell you about themselves, not the industry.)
    • The real goal is to create a safe place for dialogue with your customer.
    • You create safety by being authentic and sharing your transparency as early as possible.
  • What has being in a mastermind group meant to your business?
    • It has caused Dennis not to be comfortable.
    • He would live at the level of his comfort and not challenge himself.
    • Striving to live up to the level of the other group members is a sign of a good mastermind that has a high level of trust.
    • His pace is determined by the pace of the pack.
    • The concepts of value are put into practice because everyone must show up in a mindset to provide value.
    • It corresponds to customers because they can also reap more if they share value as well.
    • When you are authentic and transparent, you can receive the most value from others.
  • What is one of your best stories about creating value for a customer?
    • A keynote for a large healthcare company in Indianapolis was attended by about 30 administrators and 30 nursing directors.
    • Afterward, at dinner with the vice president, he shared the idea of leadership roundtables in different areas of the country for the company.
    • He provided more value and earned five times as much from leading the roundtables based on that conversation.

About Dennis McIntee

Dennis McIntee is a consultant in the medical and financial industries on creating company culture. He is also a speaker who teaches leaders how to develop high-performance teams. He is the author of The 8 Qualities of Drama Free Teams and a former international missionary.

  • Dennis's Website: dennismcintee.com
  • Dennis on Twitter: @DennisMcIntee
  • Email Dennis: info@leadershipprocess.com

Filed Under: Creative, Episodes Tagged With: Options, Public speaking, Self-confidence

Comments

  1. Gaby says

    July 4, 2019 at 6:31 pm

    This was great, thank you for sharing this. Very valuable and insightful.

    Reply

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