ohn Ray Archives - Business RadioX ®

Plumber Pricing

January 20, 2023 by John Ray

North Fulton Studio

Plumber Pricing

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Plumber Pricing

Professional services providers, the speed with which you execute an engagement is a feature and should be priced as one. A recent experience I had with a plumber illustrates the point.

The Price and Value Journey is presented by John Ray and produced by the North Fulton studio of Business RadioX®.

TRANSCRIPT

John Ray: [00:00:00] Hello. I’m John Ray on the Price and Value Journey. In my last episode of this series, I talked about my recent superb experience with the plumber, using that story to make the point that how we show up is an intangible value to our clients. This plumber came to our house on a Friday night a few hours after I called him to diagnose the problem. After doing that, he said he could be back the next morning on a Saturday to perform the necessary repairs. Unfortunately for him, though, my experience with this plumber was further elevated by his pricing. What do I mean by that? Well, even though he delivered his service so quickly and efficiently, his price was well below the estimate I received from another plumber who I could never get to show up.

Even with offering the intangibles of both reliability and speed of service, this five-star plumber didn’t price his service to reflect the client perceived value of those intangibles. Professional services providers, the speed with which you execute an engagement is a feature and should be priced as one. Bookkeepers for example, when you’re producing financials by the 15th of every month, that should be priced at a premium relative to engagements which call for the end of the month. Yet so many bookkeepers I’ve run into price all their clients at their same hourly rate, which highlights just one of the many problems with hourly pricing but that’s another subject.

Here’s another example. At year end, some professionals like attorneys or business valuation experts will have clients who, with little or no warning, come walking in with a project which needs to be completed by December 31st. Price the needed velocity. When confronted with a premium price, such clients will make their own determination as to how important that year in closing is and therefore how much they value your project and the outcome you deliver. Speed is value, price it.

I’m John Ray on the Price and Value Journey. Go to pricevaluejourney.com to learn more about my work, including a link to the show archive of this series, which you can also subscribe to on your favorite podcast app. And I’d be honored if you would do that, if you’re not already a subscriber. When you go to pricevaluejourney.com, you can also sign up to receive updates on my new book coming out in 2023. The title of the book is The Price and Value Journey, Raise Your Confidence, Your Value and Your Prices to Grow Your Business Using the Generosity Mindset. If you’d like to email me directly, feel free, John@JohnRay.co. Thank you for joining me.

About The Price and Value Journey

The title of this show describes the journey all professional services providers are on: building a services practice by seeking to convince the world of the value we offer, helping clients achieve the outcomes they desire, and trying to do all that at pricing which reflects the value we deliver.

If you feel like you’re working too hard for too little money in your solo or small firm practice, this show is for you. Even if you’re reasonably happy with your practice, you’ll hear ways to improve both your bottom line as well as the mindset you bring to your business.

The show is produced by the North Fulton studio of Business RadioX® and can be found on all the major podcast apps. The complete show archive is here.

John Ray, Host of The Price and Value Journey

John Ray The Price and Value Journey — **John Ray, Host of “The Price and Value Journey”**

John Ray is the host of The Price and Value Journey.

John owns Ray Business Advisors, a business advisory practice. John’s services include advising solopreneur and small professional services firms on their pricing. John is passionate about the power of pricing for business owners, as changing pricing is the fastest way to change the profitability of a business. His clients are professionals who are selling their “grey matter,” such as attorneys, CPAs, accountants and bookkeepers, consultants, marketing professionals, and other professional services practitioners.

In his other business, John is a Studio Owner, Producer, and Show Host with Business RadioX®, and works with business owners who want to do their own podcast. As a veteran B2B services provider, John’s special sauce is coaching B2B professionals to use a podcast to build relationships in a non-salesy way which translate into revenue.

John is the host of North Fulton Business Radio, Minneapolis-St. Paul Business Radio, Alpharetta Tech Talk, and Business Leaders Radio. house shows which feature a wide range of business leaders and companies. John has hosted and/or produced over 1,700 podcast episodes.

Coming in 2023: A New Book!

John’s working on a book that will be released in 2023: The Price and Value Journey: Raise Your Confidence, Your Value, and Your Prices to Grow Your Business Using The Generosity Mindset. The book covers topics like value and adopting a mindset of value, pricing your services more effectively, proposals, and essential elements of growing your business. For more information, contact John below.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®: LinkedIn | Twitter | Facebook | Instagram

Gratitude as a Business Strategy

November 22, 2022 by John Ray

North Fulton Studio

Gratitude as a Business Strategy

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Gratitude as a Business Strategy

The benefits of actively practiced gratitude for an individual’s health and well-being are widely documented. What would happen in your business if you decided to make gratitude an actively practiced piece of your business strategy?

The Price and Value Journey is presented by John Ray and produced by the North Fulton studio of Business RadioX®.

TRANSCRIPT

John Ray: [00:00:00] Hello again. I’m John Ray on The Price and Value Journey. The science behind the beneficial effects of gratitude gets deeper and more compelling as more research is published and updated. Most of the studies which have been published on the effects of gratitude support an association between gratitude and an individual’s well-being.

John Ray: [00:00:25] The head of the Division of Biologic Psychology at Duke University Medical Center says that, if gratitude were a drug, “it would be the world’s best selling product with a health maintenance indication for every major organ system.” The benefits, it seems, span an individual’s physical, psychological, and social wellbeing.

John Ray: [00:00:49] According to Robert Emmons, a leading researcher in gratitude studies, people who practice gratitude consistently report benefits across the physical, psychological, and social spectrums.

John Ray: [00:01:04] Well, let’s expand that idea beyond us as individuals. What would your business look like if you made gratitude part of your everyday operating strategy? What would happen if the conscious practice of gratitude was as natural a part of your business as opening the doors every day, or checking email, or bouncing the cash drawer, or making payroll?

John Ray: [00:01:29] I’m not just talking about sending thank you notes to clients, although that’s probably a good baseline to start if you’re not doing that. But gratitude is more than just thank you notes or client gifts. I’m referring to cultivating an attitude of thankfulness, which is deep in your core as a business owner.

John Ray: [00:01:52] Maybe it’s writing a thank you note to someone who has helped you with a suggestion they’ve made, one which seemed insignificant to them at the time. It could be keeping a gratitude journal for your business, making notes about people and events which have made an impact on you and your business. Maybe it’s spending daily time and conscious reflection or meditation on something you’ve learned that day. Or maybe an event you attended from which you gained something that helped you in your business. It could involve stopping and pausing in a moment of thankfulness before you turn the key in the door to open up in the morning or before you turn on your computer.

John Ray: [00:02:37] Some time ago, I received a note from a business friend of mine who puts this principle into practice in quite a beautiful way. She writes, “This is a busy, busy time. I am exhausted, but we are very grateful. We have had long days and worked all week, including today, Sunday. I appreciate you so much. You were the first one that welcomed me, made me feel at home, and started helping me right away. And for that, I am forever grateful.” Wow, what a note to receive.

John Ray: [00:03:12] But most importantly, this business owner really gets it. This note wasn’t written to me to get my business. Although I’m a client of hers, I’m a tiny fraction of the sales of her business. This note was written from a deep sense of gratitude for life enjoyed, even the hectic, tiring life of a small business owner. Despite the exhaustion, the headaches, dealing with employees who flake out, and having days where everything seems to just go wrong, this individual is centered enough to express an attitude of joy and meaning.

John Ray: [00:03:54] I encourage you, and myself, as I speak these words – I’m more a student than a teacher, for sure – I encourage all of us to use this Thanksgiving season to reflect on adopting a practice of gratitude not only in our personal lives, but in the life of your business, as a strategy in your business. You might tap into a deeper vein of satisfaction with your business than you ever thought possible. Happy Thanksgiving.

John Ray: [00:04:27] I’m John Ray on The Price and Value Journey. Past episodes of this series can be found at pricevaluejourney.com. Or if you’d like to send me a note directly, feel free, my email is john@johnray.co. Thank you for joining me.

About The Price and Value Journey

The title of this show describes the journey all professional services providers are on: building a services practice by seeking to convince the world of the value we offer, helping clients achieve the outcomes they desire and trying to do all that at pricing which reflects the value we deliver.

The show is produced by the North Fulton studio of Business RadioX® and can be found on all the major podcast apps. The complete show archive is here.

John Ray, Host of The Price and Value Journey

John Ray is the host of The Price and Value Journey.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®: LinkedIn | Twitter | Facebook | Instagram

Creating a Unique Weather System

July 25, 2022 by John Ray

North Fulton Studio

Creating a Unique Weather System

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Creating a Unique Weather System

On a recent trip to Alaska, I was fortunate to enjoy spectacular views of Mt. Denali without the usual cloud cover which often shrouds views from below. That cloud cover is created because of Denali’s unusual height relative to surrounding peaks. Mt. Denali creates its own unique weather system, and there’s a vital analogy here for us as professional services providers.

The Price and Value Journey is presented by John Ray and produced by the North Fulton studio of Business RadioX®.

TRANSCRIPT

John Ray: [00:00:00] Hello. I’m John Ray on The Price and Value Journey, Creating a Unique Weather System. I’ve been away from the podcast for a few weeks and part of that time in Alaska. And it’s a fantastic trip, by the way, I highly recommend if you’ve never been there.

John Ray: [00:00:20] One of the highlights of our trip was seeing Mount Denali. At over 20,000 feet, Denali is the tallest mountain in North America, and it’s the third highest of the Seven Summits. The Seven Summits being the highest mountains on each of the seven continents. While Mount Everest is the highest peak in the world at 29,000 feet, Denali is the taller of the two. Now, in measuring mountains, height or high refers to feet above sea level, while tall is a measurement from the base to the summit.

John Ray: [00:00:58] Denali has a vertical rise of 18,000 feet from its base, in contrast to Everest, 12,000 feet. Because Denali is so tall relative to peaks in the surrounding geography, it creates its own weather system, which makes this mountain, in addition to its very cold temperatures, extremely challenging for climbers. We were extremely fortunate to see Denali on a sunny day. As more often than not, the mountain is shrouded in clouds.

John Ray: [00:01:34] So, how does all this apply to professional services? Well, there are those professional services providers who first seek to be people of value, freely sprinkling value to all those around them without worrying about what they’ll directly receive in return. They’re confident enough in their value that they know they’ll receive enormous long term rewards for this behavior. They make connections for others. They offer help to those coming behind them who will never be able to repay them.

John Ray: [00:02:10] Because of the value they throw off, you know you’re going to be better off just hanging around them, whether in-person or virtually. These individuals create their own weather systems, if you will. They draw others to them naturally and organically. And they stand much taller with substantially more authority than the surrounding peaks. Their practices are as large as they want them to be, and they have a fulfilling professional and personal life.

John Ray: [00:02:42] I’m John Ray on The Price and Value Journey. If you’d like to connect with me directly, you can send me an email, john@johray.co. And past episodes of this series can be found at pricevaluejourney.com. And I’d be honored, if you’re not a subscriber, if you would do that. Thank you so much for joining me.

About The Price and Value Journey

The title of this show describes the journey all professional services providers are on: building a services practice by seeking to convince the world of the value we offer, helping clients achieve the outcomes they desire and trying to do all that at pricing which reflects the value we deliver.

The show is produced by the North Fulton studio of Business RadioX® and can be found on all the major podcast apps. The complete show archive is here.

John Ray, Host of The Price and Value Journey

John Ray is the host of The Price and Value Journey.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®: LinkedIn | Twitter | Facebook | Instagram

It’s Not a Sales Call, It’s a “Best Fit” Conversation

June 3, 2022 by John Ray

North Fulton Studio

It's Not a Sales Call, It's a "Best Fit" Conversation

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It’s Not a Sales Call, It’s a “Best Fit” Conversation

As professional services providers, we’ll serve more effectively if we view our time with prospects as a “best fit” conversation instead of a sales call.

The Price and Value Journey is presented by John Ray and produced by the North Fulton studio of Business RadioX®

TRANSCRIPT

John Ray: [00:00:00] Hello. I’m John Ray on The Price and Value Journey. Conversations with prospective clients should not be viewed as a sales call. Frankly, it took me a while to come to this realization and the use of this terminology.

John Ray: [00:00:19] These conversations that we have with prospects shouldn’t even start with a sale in mind. A better way to frame these conversations is to start out with something like, “Hey, let’s see if we’re a good fit. And to do that, I need to ask you some questions.” And then, ask those questions. Ask the individual in front of you, Why do you think you need X and Y? What outcomes are you trying to achieve? Why haven’t you tried fill in the blank? And so forth.

John Ray: [00:00:52] We are professional services providers. We serve. Our mission should be to help others find solutions to their problems. If we make that our focus, we will be seen as a person of value. And in turn, we will stand out from the crowd.

John Ray: [00:01:13] Earlier in this series, I was fortunate enough to interview Bob Burg, and he and John David Mann are the co-authors of a book called The Go-Givers Sell More. And here’s the way they put it in that book.

John Ray: [00:01:31] They say, Most of us look at sales backwards. We see it as convincing people to do something they don’t want to do. But it isn’t. It’s about learning what people do want to do and helping them do that. Or, we may think it’s about taking advantage of others. While, in fact, it’s about giving other people more advantage.

John Ray: [00:01:57] But the biggest inversion of all, the great upside down misconception about sales, is that it is an effort to get something from others. The truth is that sales at its best, that is at its most effective, is precisely the opposite. It is about giving. Selling is giving. Giving time, attention, counsel, education, empathy, and value. In fact, the word sell comes from the old English word sellan, which means – you guessed it – to give.

John Ray: [00:02:39] What a great passage. Try it. Instead of thinking of prospect meetings as sales calls, try thinking of them as best fit conversations. Maybe you call them giving conversations. You might have another way to frame it. But whatever we call it, we should do whatever’s necessary to put ourselves in the mindset of genuine service. That’s what makes us professional services providers.

John Ray: [00:03:11] I’m John Ray on The Price and Value Journey. Past episodes of this series can be found at pricevaluejourney.com or on your favorite podcast app. And if you have not subscribed, I’d be honored if you would. And if you’d like to connect with me directly, send me a note, john@johnray.co. I’d love to hear from you. Thank you for joining me.

About The Price and Value Journey

The title of this show describes the journey all professional services providers are on: building a services practice by seeking to convince the world of the value we offer, helping clients achieve the outcomes they desire and trying to do all that at pricing which reflects the value we deliver.

The show is produced by the North Fulton studio of Business RadioX® and can be found on all the major podcast apps. The complete show archive is here.