BRX Pro Tip: How to Have the Money Conversation Transcript
Stone Payton: [00:00:01] And we are back with Business RadioX Pro Tips. Lee Kantor and Stone Payton here with you. Lee, let’s talk a little bit about how to have the money conversation with prospective Business RadioX clients.
Lee Kantor: [00:00:14] Yeah, I think this is critical. This is something that a lot of people fumble with because they get a little defensive about it, but it’s important to really lean into this and get this conversation handled as early as possible in the relationship. It is critically important to know what a sales win looks like to your prospect in terms of actual dollars.
Lee Kantor: [00:00:40] Once you are clear the exact amount of money a sales win looks like, then you know a lot of information. You know if they can afford your service. You know how many that seems reasonable, that like how many people they have to meet in order to kind of get—to a hit that number. You know that if they’re going to be a client for life, or have a chance to be a client for life, or just somebody that’s going to just try this for a little bit because their sales cycle is too long.
Lee Kantor: [00:01:12] So, it’s important to know how much a sales win is for these clients because you don’t want to get to the point where you’re selling the show in terms of hours, or time, or episodes. You have to be able to explain to them that the show is going to work for them 24/7, and they’re not paying for studio time. You have to be able to kind of articulate that. And when you know what a sales win looks like, it’s easier to have—to kind of show the value you’re delivering, not the service you’re providing.
Stone Payton: [00:01:44] All right. So, that’s kind of good prep leading into, but at some point, they’re going to say, ‘How much does it cost?” So, you have a take on because you’ve prepared, you kind of know how to frame things up, I’m gathering from that is what you’re saying.
Lee Kantor: [00:01:57] Right. So, I think it’s important to frame it up in terms of—for me, I like to say, you know, I like the numbers to work, so that one show in a year—I mean, one sale in a year pays for the show for the year. So, that’s what I like to shoot for in terms of fees. And that’s who I’m aiming at in terms of a target for a potential client because I don’t want them to think that, “Oh, if I do a show or I record a podcast, that takes me 45 minutes one time, and you’re getting paid X number of dollars,” and I don’t want him to think—to work that kind of math. That’s not the math I want them to work. I want them to see the value of having a show 24/7, having their clients’ ability to get a Google search result on the first page of Google when they’re on one of our shows, I want them to understand the totality of the value that they’re getting from being part of the network and having a show. It’s not the time they spend in front of a microphone.
Stone Payton: [00:02:53] Well, that simplifies it for me because to me, then, if you’re gonna do business with Lee Kantor, the price is one. What does it cost to have a show with Lee Kantor? One sales win. So, if a sales win for you is $30,000, Lee’s probably going to gear a show that will deliver one that won’t cost any more than that one sales win.
Lee Kantor: [00:03:14] Right. I want them to be able to look forward to coming into the studio, happily pay the bill, and stay with us for a long period of time. I want to be able to deliver results that blow them away nuts; not a bill they kind of dread and and want to get rid of.
Stone Payton: [00:03:31] Right. But one sales win—if one sales for me is $30,000. Then that’s a $2500-a-month show. That math works. Now, if I told you, a sales win for me is $500, you might not take the business, right?
Lee Kantor: [00:03:44] Right. That wouldn’t be a good fit. I don’t think I can deliver that kind of result that you’re going to want to pay for this.
Stone Payton: [00:03:51] Right. Got it.
Lee Kantor: [00:03:52] It’s got to work for both of us.
Stone Payton: [00:03:53] Got it.
