Use Oren’s Top 3-Methods for DEALMAKING
Published on September 10, 2020
I’m wondering right now …. what would happen if I came over to your office for a full-day to watch you work?
… how exciting would that be watching you “get stuff done.”?
For example, look at this picture of star football player Marshawn Lynch. He’s delivering 2.1 million dollars of value to his team. And below is a picture of ME doing the exact same thing for my team. Notice the difference?
In the top photo, you see Marshawn with the game winning touchdown in Superbowl 49.
In the bottom photo , it’s me signing contracts on an asset deal with $2.1M in net value to the operating partners.
In Summary: If you want to see eye-popping action and feel edge-of-your-seat of excitement …
…. DON’T COME TO MY OFFICE.
At my company you will only see this:
- Phone calls
There are NO …
- “We Will Rock You” pump-up music on a Jumbotron
- beer vendors
Yes, my office sucks.
But be honest with me …
Yours probably does too, BECAUSE AT ANY POINT DURING THE DAY …. there’s nothing to “see.”
I admit it.
You could watch me work for an entire 8-hour day and then at 5pm you’d say …
“Oren, you’re a nice guy, but I still have no idea what you do.”
THIS IS THE MAIN PROBLEM IN MODERN DEALMAKING.
THERE’S NOTHING TO SEE, TOUCH OR FEEL. IT’S BORING. NO CURIOSITY.
AND WHAT YOU DO LOOKS EASY:
… YOU MAKE A FEW CALLS.
……..CALCULATE SOME NUMBERS.
………….SEND SOME EMAILS.
HOW HARD IS THAT?
From the BUYERS PERSPECTIVE, you don’t do anything that difficult.
I mean, c’mon, what do you REALLY do? Make a few calls, do some accounting, provide insurance, deliver consulting, find a high-yield asset … broker a transaction … whatever.
Phone …. Email …. EASY.
Oh, think Buyers don’t see you this way … you think you’re a special snowflake?
Over the past three years I conducted in-depth studies about DEALMAKING METHODS at 20 large companies operating in a broad variety of markets, including medical, automotive, software, financial services, energy, consulting and internet.
WHAT I FOUND:
Most of these companies struggle to effectively “show customers their product”.
It’s sad how some of the best products in the world are so difficult to understand … and how their features and benefits are so difficult to “see.”
Of course, the companies used all the basic tools:
- and videos
- and whiteboards.
They tried hard to paint a clear picture of products and services.
(You probably deal with this too, it’s a frustrating problem.)
But in the process of trying to make their services easy to understand …
These companies really screwed up.
They made it seem as if their service was EASY TO DELIVER.
And making it look TOO EASY completely crushed their dealmaking results.
- their price negotiations were brutal
- their final sale was low-margin
WHAT I DISCOVERED THAT IMPROVED DEALMAKING RESULTS AT EVERY COMPANY I STUDIED:
1. Show buyers what you do is NOT EASY.
2. Demonstrate what you do is HARD — show how almost no one has your capabilities.
2. Help Buyers understand their problem is NOT “going away on its own.”
3. Make Sure Buyers are nervous about using an “Average Company” to solve their Very Difficult Problem.
Your Buyer must believe:
……their problem TRIPS-UP almost everyone who tries to solve it.
Think for a moment about the 20 companies I researched:
All made the same basic mistakes, telling Buyers …
- How established they are
- How good their solutions are
- How they offer the best value.
This just backfired and blew up in their face– making it exceedingly difficult to close deals.
You already know the answer:
They made their service look regular, easy and common.
BUYERS WERE BORED — NOT CURIOUS, AND THOUGHT THEIR PROBLEM COULD BE EASILY FIXED.
In other words:
HERE’S THE 3 METHODS I IMPLEMENTED AT MY COMPANIES THAT CREATED BOTH CURIOSITY AND VALUE
1. I did NOT tell the BUYER
- this is easy
- it’s “no problem at all” and we’ll take care of you right away
- our awesome service will quickly solve the problem
- our standard solution is a perfect fit
2. I DID tell him the TRUTH
… there is an incredibly high failure rate for YOUR kind of problem. To deal with this
- you need a real budget
- you must be committed to a high-quality solution
- you cannot be shopping for “price”
- … it’s now … or never.
3. And then, I gave even more TRUTH
- … your problem is not ‘average’
- You’re in a pickle … you have a bad version of a bad problem
- What we do is HARD — BUT IT WORKS
- In fact, we have to think about it before we take you on as a customer.
Instead of talking about yourself and how special your company is, and how easily you can solve their problems … shouldn’t you be doing what I did?
1. Show that I solve hard problems
2. Provide proof their problem will not just “go away” with an average vendor
3. And I REFUSE to take their business without careful investigation.
I discovered You can’t really sell a big account today UNTIL you can effectively do 1, 2 & 3.
What’s the best way to implement 1, 2 & 3 above?
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