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SBA Lending, with Chip Gjertsen, Renasant Bank

June 5, 2023 by John Ray

SBA Lending
North Fulton Business Radio
SBA Lending, with Chip Gjertsen, Renasant Bank
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SBA Lending

SBA Lending, with Chip Gjertsen, Renasant Bank (North Fulton Business Radio, Episode 669)

Renasant Bank Senior Vice President and SBA Senior Banker Chip Gjertsen joined host John Ray to discuss SBA lending. Chip shared how he got hooked on business lending as a career, defined what an SBA loan is, described what kinds of businesses might benefit from an SBA loan, discussed recent changes that benefit business owners in transition, Renasant’s status as a Preferred Lender, success stories, and much more.

North Fulton Business Radio is broadcast from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta.

Chip Gjertsen, Senior Vice President and SBA Senior Banker, Renasant Bank

Chip Gjertsen, Senior Vice President and SBA Senior Banker, Renasant Bank

Chip Gjertsen is a Senior Vice President and SBA Senior Banker. He has been an SBA Lender for two decades.

Renasant Bank has humble roots, starting in 1904 as a $100,000 bank in a Lee County, Mississippi, bakery. Since then, we have grown to become one of the Southeast’s strongest financial institutions with approximately $17.5 billion in assets and 196 banking, lending, wealth management and financial services offices in Mississippi, Alabama, Tennessee, Georgia and Florida.

Renasant’s success stems from each of our teammates’ commitment to diversity and inclusion, and investing in their communities as a way of better understanding the people we serve. At Renasant Bank, we understand you because we work and live alongside you every day.

Website | Renasant SBA website  | Chip Gjertsen LinkedIn

Questions and Topics in this Interview:

  • How Chip got into SBA lending
  • What is an SBA loan
  • The UGA Small Business Development Center
  • New revisions that impact exit planning
  • Renasant as a Preferred Lender
  • The kinds of businesses ideal for an SBA loan

North Fulton Business Radio is hosted by John Ray and broadcast and produced from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta. You can find the full archive of shows by following this link. The show is available on all the major podcast apps, including Apple Podcasts, Spotify, Google, Amazon, iHeart Radio, Stitcher, TuneIn, and others.

RenasantBank

Renasant Bank has humble roots, starting in 1904 as a $100,000 bank in a Lee County, Mississippi, bakery. Since then, Renasant has become one of the Southeast’s strongest financial institutions with over $13 billion in assets and more than 190 banking, lending, wealth management, and financial services offices in Mississippi, Alabama, Tennessee, Georgia, and Florida. All of Renasant’s success stems from each of their banker’s commitment to investing in their communities as a way of better understanding the people they serve. At Renasant Bank, they understand you because they work and live alongside you every day.

Since 2000, Office Angels® has been restoring joy to the life of small business owners, enabling them to focus on what they do best. At the same time, we honor and support at-home experts who wish to continue working on an as-needed basis. Not a temp firm or a placement service, Office Angels matches a business owner’s support needs with Angels who have the talent and experience necessary to handle work that is essential to creating and maintaining a successful small business. Need help with administrative tasks, bookkeeping, marketing, presentations, workshops, speaking engagements, and more? Visit us at https://officeangels.us/.

Tagged With: banking, Chip Gjertsen, Manufacturing, Office Angels, professional services provider, renasant bank, SBA Lending, SBA Preferred Lender, service provider, small business, uga sbdc

Battling Imposter Syndrome: An Interview with Stacey Ruth, Unstoppable Leader

April 5, 2022 by John Ray

Stacey Ruth
North Fulton Studio
Battling Imposter Syndrome: An Interview with Stacey Ruth, Unstoppable Leader
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Stacey Ruth

Battling Imposter Syndrome: An Interview with Stacey Ruth, Unstoppable Leader

Anyone who has started their own professional services practice faces imposter syndrome at some point in their journey. What happens, though, when the stress of imposter syndrome is so severe that you find yourself on the bathroom floor, bleeding internally and suffering severe headaches and hair loss? In a frank, raw interview with host John Ray, Stacey Ruth, CEO of Unstoppable Leader, shared her battle with imposter syndrome, and how it affected not only her physical health but her professional services business as well. Stacey discussed the many ways imposter syndrome shows up, how to diagnose and deal with it, how imposter syndrome can become a diversity and inclusion issue, imposter syndrome and pricing, and much more.

To download the imposter syndrome workbook Stacey mentioned in the interview, follow this link.

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

Stacey Ruth, CPC, CEO, Unstoppable Leader

Stacey Ruth, CPC, CEO, Unstoppable Leader

Stacey Ruth is unstoppable. She founded two multimillion-dollar agencies, has been among the Top 50 Entrepreneurs Under 50 in Atlanta, and twice awarded Top 100 “It” Agencies by Experiential Marketer.

As a novice entrepreneur, she made nearly every business decision mistake possible – and learned how to make the necessary personal transformations in order to thrive. Her businesses survived personal challenges, the fallout of 9/11, deep recessions, and her own health issues resulting from a battle with imposter syndrome.

Today she coaches other CEOs and executives on how to make faster and more accurate decisions, using their inner wisdom. She is a passionate advocate for women leaders claiming their own seat at the table they design for themselves.

Stacey delivers sustainable change, measurable results, and immediate impact for her clients. Her human-centered approach is designed to help ignite the transformational leadership every organization requires.

Her book, Own Your Own Shift is available on Amazon, and her new book, Inside Out Smart will be available April 19, 2022.

Website | Stacey’s books | LinkedIn | Instagram | YouTube | Twitter | Facebook

TRANSCRIPT

John Ray: [00:00:00] And hello again, everyone. I’m John Ray on The Price and Value Journey. Today, we’re going to talk about imposter syndrome. And I think that’s an important topic for anyone who sells what’s between their ears. Because what’s between your ears and imposter syndrome can get mixed up in a big way, particularly if you’re coming out of corporate. You’ve had this shelter of corporate, maybe the branding and the assistance that comes from corporate. And, suddenly, you’re out in your own practice trying to do all your own thing, comparing yourselves to everyone else out there that’s doing what you’re doing, and wondering whether you’re doing it right or whether you belong where you are.

John Ray: [00:00:50] And we’ve got a fantastic guest to talk about this important subject. Stacey Ruth is the CEO of Unstoppable Leader. Stacey founded two multimillion dollar agencies. She’s been among the top 50 Entrepreneurs Under 50 in Atlanta. And twice awarded the Top 100 It Agencies by Experiential Marketer.

Stacey Ruth: [00:01:14] As a novice entrepreneur, Stacey made nearly every business decision mistake possible – wow. And she learned how to make the necessary personal transformations in order to thrive – even bigger wow. Her businesses survived personal challenges, the fallout of 9-11, deep recessions, and her own health issues resulting from a battle with imposter syndrome.

John Ray: [00:01:41] Today, she coaches other CEOs and executives on how to make faster and more accurate decisions using their personal wisdom. She’s a passionate advocate for women leaders claiming their own seat at the table that they designed for themselves. She’s got a new book out, it’s her second book following her first one, and her new book is called Own Your Own Shift, and it’s available on Amazon. And as we record this, it’ll be out in a few weeks on April 19, 2022. Stacey Ruth, it’s a pleasure to have you on.

Stacey Ruth: [00:02:17] Absolutely a pleasure to be here. I think you’ve got a really, really great group of listeners who can really benefit from what we’re talking about today. This is going to be great.

John Ray: [00:02:27] Yeah. Thank you. I really appreciate you being willing to share what you’ve got to share about your own journey. But talk about how you started your practice and just the background of your practice. What led you to go out on your own?

Stacey Ruth: [00:02:44] That’s a great one, because I was actually in a corporate agency. We were the largest global production and event marketing agency in the world at one time. And I’ll say, it was pre-focused on diversity and inclusion. And it was very much a, I’ll say, male lily white type of environment, very much like Mad Men if anyone watches that. And I was very much seduced, if you will, by the excitement and being a part of it. And it was also a sweatshop and I was very exhausted. And couldn’t kind of keep up with the politics. We were buying a new company, literally, every week at the time. And so, I chose to take the leap out on my own. And it was still in an industry that was male dominated.

Stacey Ruth: [00:03:52] And I don’t know if you and your listeners are aware, but imposter syndrome is not just up to the moment term that people are using to describe self-doubt. It’s actually a diversity and inclusion issue. And it belongs to the people who are first only or different in an industry or in a business or an organization.

Stacey Ruth: [00:04:17] And I was a woman CEO of a fast growing agency, and what was at the time a male dominated field. And I immediately started experiencing this since I was young and I was female, that maybe I didn’t have what it took. And then, I started trying to shore myself up. And that’s when things went a little bit sideways.

John Ray: [00:04:47] Now, was this before you left to start your own firm, or was it during this big firm experience that you had, or both?

Stacey Ruth: [00:04:56] Well, both. The big firm experience kind of set me up to feel that I was down in power structure as a young female. And I talk about that in my upcoming book, Inside Out Smart. And we’re talking about biases. And we’re talking about assumptions. And we’re talking about how society shapes a lot of our beliefs about ourselves. And so, it’s shaped a lot of my beliefs about what I was and was not capable of, even though I’m a relatively gregarious and confident person. But in that context, I experienced a sense of maybe I don’t belong here and maybe they’ll find out I don’t know what I’m doing. And that just carried over into starting my own business.

John Ray: [00:05:54] So, how were you able to start your own business when you had imposter syndrome to begin with?

Stacey Ruth: [00:06:02] That’s great, because the idea behind being able to move forward is to be able to tap into our inner concept of our self, our inner wisdom. Some of that is intuition. Some of that is our ability to connect to our own purpose, our own values. And I had enough of that to be able to take the risk, to take the leap. And that’s true of most entrepreneurs. And we have a growing entrepreneurial culture going on right now.

Stacey Ruth: [00:06:41] But 84 percent of entrepreneurs self-identify with imposter syndrome. So, it’s not just women, it’s not just underrepresented demographics, it’s not just black or brown or gay, LGBTQ+, whatever it is. There are things that will lead us to believe that maybe we don’t have what it takes. And someone somewhere is going to find out and we’ll be outed.

John Ray: [00:07:15] So, talk about what happened with you as you built your own firm. What was that journey like? What was going on with the firm? And then, what was going on with this arc of imposter syndrome for you?

Stacey Ruth: [00:07:32] Oh, absolutely. And, you know, I’m going to be really real with you, because I was my own worst nightmare boss when I started the agency. And so, I did what a lot of individuals with imposter syndrome will do.

Stacey Ruth: [00:07:51] And when we talk a little bit about how people can contact me, I do have an imposter syndrome workbook where people can identify whether they have it. There’s some questions on there and then ways to deal with it.

Stacey Ruth: [00:08:05] But I was micromanaging, so I was hovering over the folks that worked with me. I brought in additional executives who were men, who were older than me, in order to shore up what I felt was lacking credibility. I also was over delivering, over performing. So, I was burning the candle at both ends. I was working around the clock, 80 hour workweeks. And it was never enough. It was never enough for me. And my employees could never do enough for me in that dynamic.

Stacey Ruth: [00:08:50] So, a lot of people who are solopreneurs can identify and then they can also experience what might be going on in their organizations if they have employees or vendor partners and suppliers.

Stacey Ruth: [00:09:02] And what wound up happening to me, I didn’t realize what was going on. That was just what I thought I had to do. And what wound up happening to me – and I share this when I speak on imposter syndrome – is there was a day when I found myself on the floor of the women’s bathroom. My hair had been falling out. I was having headaches 24/7. And, now, I was bleeding internally. And that’s the level of pressure and stress that imposter syndrome puts on us.

Stacey Ruth: [00:09:38] And I’ve heard other women leaders talk about similar kinds of health issues. Arianna Huffington talks about it. I know there’s a number of people that discuss it. So, if we internalize it rather than recognizing it and dealing with it, it can actually do some serious damage to our physical well-being.

John Ray: [00:09:59] Did you attribute at that time imposter syndrome to the physical symptoms you are having? Or did that take a time to make that connection?

Stacey Ruth: [00:10:11] No, I did not. It took time to make that connection. And one of the reasons that I’m so willing to share what I went through was I actually was reading what Arianna Huffington was going through. I was reading what other women with imposter syndrome were going through, because I was following other women leaders, like, what are they doing? And so, I was starting to hear these stories and I was like, “Oh. That’s me.” And so, it was this slow dawning by hearing other people share what they were going through and how they were dealing with it.

John Ray: [00:10:48] And so, you really didn’t know imposter syndrome was to blame for any of this until you really identified it in others.

Stacey Ruth: [00:10:59] Correct. And I mean, I’ve certainly studied it, immersed myself in it, so that I really can deal with it. And I think I’m on a mission to share it with others, because given that I am a lifelong entrepreneur, given that I do believe that entrepreneurship is crucial as a foundation for our entire economic structure, and 84 percent of entrepreneurs are dealing with this. I think it’s so important to get it out there and not let people just think, “Oh, well. I just doubt myself.” Oh, no. There’s more going on. And it’s possible to overcome it, and it’s not difficult once you recognize it.

John Ray: [00:11:47] But what you’re implying here – or you’re not implying. You’re saying it flat out – thank you – is that you can go on and function “normally” for years and suddenly hit a wall, because that’s what I think I hear you saying was it captures your experience with imposter syndrome.

Stacey Ruth: [00:12:13] Yes. And, in fact, the more you achieve and the higher you go, I’ll say, the rarer the air where you are, the more likely you are to experience imposter syndrome in a new role in an organization where there aren’t any others like you at the level at which you’ve achieved. So, that’s what really starts to trigger it, first, only different and high achieving.

John Ray: [00:12:49] So, you found yourself on the bathroom floor. You had all these physical symptoms that were so powerful. What happened? How did you take care of yourself physically, number one? And number two, when did that connection come? You know, did it take a while before you read about Miss Huffington and others that had this same issue?

Stacey Ruth: [00:13:15] Well, I think that it tends to be when we start to realize something’s wrong and we start looking around for what it could be, that we start to see things that were right there in front of our face that we never saw before. And that certainly was my experience. Now, I had already been through all of the physical tests and they couldn’t find anything physically wrong with me, with standard blood work and all. I even had an MRI.

Stacey Ruth: [00:13:44] But I did go get therapy help with what was going on because everyone pretty much settled on. It was stress. And as we were getting into that conversation, I started to realize that it was really my concept of what was necessary and what I deserved that was not being met. And I was the only one who could meet it. And, of course, I was seeing what other women were experiencing kind of in concert with that.

John Ray: [00:14:19] Right. Right. Say more about that, the part about what you deserved. I mean, what was your mindset there?

Stacey Ruth: [00:14:27] Well, my mindset was classic for imposter syndrome. And the definition of imposter syndrome is, no matter what you’ve achieved, you tend to dismiss it as luck, knowing the right people. It’s something outside of your control. It has nothing to do with the fact that you actually worked really hard for it. You were really qualified for it. You really did the work. You did the work and you got yourself there. So, I realized I was pushing away my own credibility and handing over my success to outside situations, people that they were supportive but they didn’t cause it, if that makes sense.

John Ray: [00:15:19] So, for you, what did the arc of recovery look like? Was it something that took a while? Was it something that you had on the other extreme, a moment of pure insight where you saw the light from the heavens and you knew you were worthy? I mean, talk about the arc of your recovery.

Stacey Ruth: [00:15:41] Well, the arc of my recovery was starting to apply a lot of the tools. And the tools, for the most part, they are self-awareness and mindset tools. So, was I picking up the tools going, “This will fix my imposter syndrome”? No, not exactly. The first thing I was trying to do was get my self back in balance. As I’m getting myself back in balance, what I’m doing is talking to other people about what I’m actually feeling inside.

Stacey Ruth: [00:16:18] As impostors, we don’t want to let others see how hard we’re paddling just underneath the surface. And being able to have someone that I trusted, who I didn’t feel like sharing with them was going to sabotage anything I was doing in my career was extremely powerful. So, being able to share what you’re going through is critical. It gets it out of your head and allows you to get perspective.

Stacey Ruth: [00:16:45] Another thing that’s very important was being able to let go of some perfectionism and let go of some of that micromanaging control, which was part of the work. The other thing – and this may sound a little woo-woo to your audience, but it is probably one of the most powerful tools for dealing with imposter syndrome – is to be able to shift our internal mantras. And one of the ones that imposters have, especially if they’re starting their own business, is, no one will pay that much for what I do.

John Ray: [00:17:22] Oh, yes.

Stacey Ruth: [00:17:25] And you can shift that into an affirmation. And my agency, initially, was notoriously under charging for our services. No one will pay that much for what we do. And when we flipped that and said, “No. We are charging fair market value for very valuable services.” So, when you do an affirmation, your brain has to believe it’s possible. So, the way out there, affirmations aren’t as effective as simply saying I provide a service that has real value, and owning the value that you provide.

Stacey Ruth: [00:18:17] So, those are some of the things that it’s not a grand sweeping shift. It’s making those micromovements that continue to assert, I deserve it, I’m worth it, and I bring something of value through my experience.

John Ray: [00:18:38] Folks, we’re here chatting with Stacey Ruth. She is the CEO of Unstoppable Leader. I want to circle back around to, I guess, the how I know I’ve got imposter syndrome. For you, it was more obvious than maybe it is for some others who maybe they don’t have the physical symptoms. Maybe they haven’t hit that wall yet. But how do they know that they’ve got something that’s serious that they better take care of?

Stacey Ruth: [00:19:11] Well, I think one of the easiest ways to get our brain around the symptoms are – and this comes out of the book, The Secret Thoughts of Professional Women by one of the kind of forerunner researchers on imposter syndrome in women, which was discovered in the early ’70s – she defines five personality types.

Stacey Ruth: [00:19:37] One of them is the super hero. And that’s the person who’s going to do it all and take on that one more thing. And people are like, “Oh, my gosh. How do you get that all done?” So, if that resonates with you, you might have imposter syndrome. Another one is the expert. That’s the person who always has to have one more degree, one more credential, one more certification. They have all of this knowledge, but they can’t quite get out of the gate. And, you know, a lot of coaches deal with that. But not just coaches, a lot of folks feel that need.

Stacey Ruth: [00:20:20] Another one is – and I don’t think she calls it this. Oh, yes. She does – the natural genius. And the natural genius has always learned things really easily and things come easily to them. So, they’re smart, they’re capable. And then, they bump up against that one thing that it doesn’t come as natural to them and they don’t really know how to learn something new because it’s always been so easy for them. And so, they start to doubt themselves because, “Why is this one hard?” So, that’s another one, if that resonates.

Stacey Ruth: [00:21:04] And then, there are the perfectionists, the person who’s always got to get it 100 percent right all the time or do nothing. So, there’s a fear of failure behind that, and that leads to a lot of procrastination, which can also be a hallmark of the imposter syndrome. [Inaudible].

John Ray: [00:21:23] Well, for those folks, if they ever get it sent out or hit send or hit publish, whatever, then they’re looking at all the errors in it that they should have caught. Right?

Stacey Ruth: [00:21:36] It’s what keeps a lot of people from writing that book. It keeps people from applying for that job. It keeps people from making their deadlines. Or – oh, my gosh. This one – that burst of energy that gets you across the finish line and the person says, “Oh, well. I’m really motivated when I have a deadline, so I’ll get it done.” And yet that’s actually not how our brains work. So, what actually happens is, yeah, you get it done, but it’s probably got a lot of mistakes in it. So, the procrastination and perfectionism which can go hand in hand can actually feed each other.

Stacey Ruth: [00:22:23] So, if any of those resonated, someone might be dealing with a case of imposter syndrome. Mine was classic and mine was intense. Not everyone’s is that classic or that intense. And yet, if it goes without being dealt with, it can build, which was also what happened for me.

John Ray: [00:22:46] Now, speaking of intense, I saw Sheryl Sandberg, formerly with Facebook and Google. She said that both men and women are susceptible to imposter syndrome, but that women tend to experience it more intensely and be more limited by it. What’s your perspective on that?

Stacey Ruth: [00:23:09] This is true. It was first identified in women and in the ’70s where women were coming into the workforce. And I said it earlier in the conversation, imposter syndrome is really a diversity and inclusion issue. Because we, as a society, tend to feel like if I’m the only woman or only fill in the blank, any underrepresented demographic – I’ll just use women because it was first discovered with women – then I feel like there’s no one I can relate to. And, therefore, I don’t belong.

Stacey Ruth: [00:23:53] So, there’s a sense of not belonging where we are, because when we look around in the landscape, we can’t identify with anyone else. So, that’s one reason that women and other underrepresented demographics will feel that way.

Stacey Ruth: [00:24:09] Another reason, especially for women, we feel like we might be betraying other responsibilities. So, we might be betraying because that’s still the way the society is structured, “I have the responsibility for the home. I have the responsibility for the kids.” And then, “I’m not being true to that responsibility.” And, also, “What about my peers? I’ve now left them behind.” So, all of those internal struggles can really feed it, especially for women.

John Ray: [00:24:44] Okay. I don’t want to get men off the hook here.

Stacey Ruth: [00:24:48] No. They’re not off the hook. No, no. Especially male entrepreneurs.

John Ray: [00:24:55] Yeah. Let’s pull them in here. So, what is the issue with men? Do they not have imposter syndrome as much? Do they not talk about it as much but they really do have it underneath the surface? What’s going on with men?

Stacey Ruth: [00:25:14] Well, again, I think that especially when men achieve a certain level within an organization, that high achieving man, the man who goes out on his own and starts a business, we have then put ourselves in a first only different situation. So, all the same feelings can apply, “I’ve left my peers behind. My peer group is back there, they’re behind me. Why am I so special? So, I don’t belong here.”

Stacey Ruth: [00:25:54] Maybe the guy was a the natural genius. And now suddenly, “I’m doing something I have no context for, no experience for, and I don’t know what to do. And I feel like somebody’s going to find out that I don’t know what I’m doing.” All the same rules apply.

John Ray: [00:26:14] I got it. So, let’s talk a little bit about, I guess, how you deal with it. And do you need a third party? You mentioned getting therapy, do you need a third party, a live person to be able to help? Maybe a trusted adviser or a coach, someone like that? And if so, how do you find that person? Because you’re at a moment of, obviously, doubt, how do you find a trusted person that you can walk that journey with?

Stacey Ruth: [00:26:54] Well, as a coach, I happen to believe that no one “needs a coach”. Now, all the coaches are going to cringe when I say this. I don’t believe anyone needs a coach. I believe that coaches accelerate what we’re ready to lean into. They give perspective, accountability, and all of those kinds of things that it just takes longer and it can be harder to do on our own.

Stacey Ruth: [00:27:26] So, can someone get over imposter syndrome on their own? Yes. Of course, they can. They can pick up the books. They can do the blogs. They can get all the information. Putting it into application is so much faster and easier when you do it with somebody who understands. So, that is possible with a mastermind support group. It’s possible with a coach, like myself. It’s possible with a mentor. It’s possible with a therapist. I mean, there’s a number of outlets that you can work through.

Stacey Ruth: [00:28:02] I think for CEOs, especially women CEOs, who especially deal with this, working with a coach who’s been there, done that, got the t-shirt, is a great way to accelerate getting through that because it does slow you down, limit your growth, and limit what kind of income you can generate.

John Ray: [00:28:27] Yeah. I want to get to that now because this is The Price and Value Journey and I’m all about pricing. And you brought that up earlier, so I want to get to income and pricing here in just a second.

John Ray: [00:28:42] But you mentioned the term get over it, getting over it, and I don’t know what the term is, do you ever really get over it? Or maybe it’s a bad analogy that once an alcoholic, you’re always an alcoholic. It’s just a matter of controlling it and dealing with it mentally, the mental aspect of it, and doing what you’ve got to do, whether you’re in AA or whatever, to walk that journey as an alcoholic. Are you always suffering from imposter syndrome or it’s just a matter of controlling it?

Stacey Ruth: [00:29:20] Well, that’s an interesting choice of analogy.

John Ray: [00:29:25] Maybe it’s a bad analogy, Stacey, but –

Stacey Ruth: [00:29:28] No. Actually, I don’t know that it is. Actually, I’m going to pause for a moment. I’m going to say something I really want your listeners to lean in and hear this.

Stacey Ruth: [00:29:45] If you’re dealing with imposter syndrome, it’s not your fault. Because a lot of people will take that on and say, “There’s something wrong with me. What’s going on?” It’s not your fault. You’re a product of the society and the society’s beliefs and values. You can change yours. So, choosing to change is the important thing.

Stacey Ruth: [00:30:12] And the reason I said that that’s not such a bad analogy with someone who’s dealing with addiction, whether it’s alcoholism, drug addiction, or any other kind of addiction, is, the 12 step programs say, the solution is actually to understand, have a self-awareness, a consciousness of who you are in the context of the greater whole. And change how you’re seeing yourself so that you don’t feel empty inside. That you don’t feel like you’re lacking something inside.

Stacey Ruth: [00:30:47] And they say it’s of a spiritual nature. Well, I believe spirituality is based on values, and purpose, and meaning. And a lot of people who are dealing with imposter syndrome have kind of disconnected from their internal guidance system, which is values-based, purpose-based, meaning-based. And we’re really measuring ourselves by these externals.

Stacey Ruth: [00:31:08] We’re constantly comparing ourselves to everyone else and looking for affirmation that we’re okay. They’re not going to kick us out of the club today because they didn’t find out that we don’t really belong here. So, instead, we can turn in to our own inner guidance system that says, “No. I’m perfect, whole, complete exactly the way I am and I can do this. And if I need help, that’s not an admission of weakness. That’s an admission of willingness to grow and learn.”

John Ray: [00:31:46] I mean, we talked extensively about your bathroom floor experience. I want to give you a chance to talk about the other side of that. And just as you’ve been able to recognize and then put that experience in the box it belongs in your life. What has been the result for you and your business and your life?

Stacey Ruth: [00:32:15] Oh, my gosh. Well, I will tell you, I stopped racing. I love that question. I stopped racing against myself. It felt like I was competing with people, competitors, the industry, other CEOs. I was trying to be better, stronger, faster, all of that. I was doing it at the expense of my poor body that was just trying to serve me.

Stacey Ruth: [00:32:51] And, by the way, I do want you to know that I am 100 percent healed physically from that. So, I feel more energetic. I feel more engaged. But mostly I feel more fulfilled. The money is great. I mean, here we are, price value, you know. The money is great. It doesn’t fill the gap of self-doubt that is created by imposter syndrome. It never is enough because it’s always external.

Stacey Ruth: [00:33:29] So, what happened is I got a lot more satisfaction and I’m like, “Well, hey, this is doing something that is really of service I really love, and I get paid good money for doing it. What more do you want?”

John Ray: [00:33:45] Great words and great story here from Stacey Ruth. She’s the CEO of Unstoppable Leader. So, Stacey, let’s talk about pricing. Let’s get there. So, for you, how did imposter syndrome affect your pricing? How did you get to a point where, again, you put that in the box and kept it from affecting how you communicate and talk about your value?

Stacey Ruth: [00:34:26] Yeah. Well, it’s interesting – let me collect my thoughts on this one. Imposter syndrome can continue to pop up even after you’ve done the work. You recognize it when it does. And one of the places that it popped up for me recently, in like the last three years, when I really leaned in to doing the executive coaching, which I had people asking me to coach them, so I said, “Well, there’s a need for this. I’d be happy to step in and do this and I love it. I absolutely love it.”

Stacey Ruth: [00:35:11] And that little impostor syndrome sitting on my shoulder whispered in my ear – this is classic imposter syndrome – “Who do you think you are to coach CEOs and executives who are more successful financially, hierarchy, all of that, than you are?” And so, I’m walking through this because the answer to that is, “I don’t need to be more powerful, more successful in order to be able to serve. What I’m able to do is help them bring out their own inner wisdom.”

Stacey Ruth: [00:35:58] That’s what coaches do. We ask powerful questions and we help people discover their own truth, and their own value, and their own worth. So, I don’t have to lord it over them. I’m not even supposed to. That’s not my job. And so, I know what my value is and so I could set that imposter syndrome off my shoulder and say, “No. No. Not today. We’re not going to do that because that’s not even the truth of the experience,” if that makes sense.

Stacey Ruth: [00:36:30] I’m not sure if I answered your question, but I felt like that was an important shift for people to be able to hear that. I can charge what an executive coach charges because I’m being an executive coach. I’m not being the executive.

John Ray: [00:36:43] Right. Right. And I think what I hear you saying is that you really switched in your head from thinking about making this comparison of externals, external position, power, authority, whatever, to the outcome that you’ll help foster in the person that you’re going to be working with. And that’s where the value is, right?

Stacey Ruth: [00:37:14] Correct. That’s where the value is. And I’ve been in other industries. I’ve been in marketing. And a lot of folks are starting all different kinds of marketing and sales type organizations right now just as rife with imposter syndrome and pricing is all over the highway. And a lot of startup businesses are nickeling and diming on things that really have more value.

Stacey Ruth: [00:37:49] And you can get something on Fiverr for $5. Why would I pay someone $1,200, $2,000 for the same thing I could get for $5 on Fiverr? And so, that leads to a lot of imposter syndrome. Why should I charge $2,000 for this? Well, because you are providing the service. You’re making sure it’s tailored and customized. Whatever is going on there that makes it a higher value, own it.

John Ray: [00:38:24] Well, people are making the wrong comparison, right? I mean, they’re looking at the competitors instead of looking at the outcome they bring about. And they may have done this – like you’re saying you may have done this – many times before, but that doubt and that, “Oh, they won’t pay that,” that voice that comes in your head, it still comes back. And so, do you treat it like a friend and just wave at it and say, “Okay. I see you,” and they keep going. Is that what you do? That’s what it sounds like.

Stacey Ruth: [00:38:58] A little bit. A little bit. And the steps I go through are awareness, “Oh, I recognize that voice. I know what that voice is about. Okay. We’re having an impostor moment. Let’s just have a moment.” And then, when that happens, “Okay. Is that true?” Questioning those thoughts is critical to shifting them, “Is that true?” If it’s not true or if I don’t know that it’s true, what’s an alternative? And then, pursuing the alternative and testing it. Being willing to test that alternative. And that’s really how the shift occurs. Individual variations, of course. But that’s the critical component is awareness and then questioning our thoughts about that.

John Ray: [00:39:57] You know, I’m so glad we could do this show because I work with folks a lot on their pricing, and what I recognized, the base problem for so many of them really is imposter syndrome. And that’s really the underlying problem. I’m not the psychologist. I’m not the coach like you are.

Stacey Ruth: [00:40:18] I’m not a psychologist, I just want to be clear. Neuroscience, yes. Psychologist, no.

John Ray: [00:40:24] Okay. Noted. But I guess what I would ask you, to submit to you, is, I think it’s dangerous for people to think about this in terms of, “Oh, I need to get what I’m worth, because that takes you down the internal conundrum that you’re going through and switch it toward outcomes I bring about.” And if you do that, it should help get you out of the whole business about thinking that it’s about you. It’s not about you. It’s about the outcomes you help foster with the work that you do.

John Ray: [00:41:15] And I realized for some people that may be a subtle difference. But that’s really the step folks need to take. That’s what I would think. Now, give me your reaction to that.

Stacey Ruth: [00:41:27] Well, it actually makes me think about something that a lot of new coaches are told, is, you’re not selling coaching. Coaching is what you do. It’s not who you are. And so, to be able to share the results that you create changes the entire conversation. So, helping someone get out of overwhelm, helping someone be able to get clarity around what next steps are, that’s what coaching does.

Stacey Ruth: [00:41:57] So, when somebody says, what do you do? I don’t say coaching. I say I help executives and CEOs who are dealing with exhaustion, overwhelm, a new position, a lot of change, and really help them get clarity and focus so they can grow their influence and impact. That’s what has value. That’s what creates the price value equation.

John Ray: [00:42:22] There you go. Yeah. I love it. I love it.

Stacey Ruth: [00:42:26] Yeah. Results are the deal. Results are the deal. And allowing yourself to own the results and not feel like you’re being full of yourself.

John Ray: [00:42:42] Yeah. I like it.

Stacey Ruth: [00:42:43] And to get the testimonials, to ask for the referrals, all of those things imposters will hold back on as well.

John Ray: [00:42:52] Great point. We could talk more about that, that’s for sure. But that’s a great way to end. Stacey Ruth, CEO of Unstoppable Leader. Wow. Stacey, I can’t tell you how much I appreciate you coming on and sharing your story in such a raw and real way. I really appreciate you.

John Ray: [00:43:16] And I just want to go back because I bungled your book when I mentioned your books.

Stacey Ruth: [00:43:21] All the books. All the books.

John Ray: [00:43:21] Yeah. That’s what happens when you release multiple books, right? So, Stacey’s first book was Own Your Own Shift.

Stacey Ruth: [00:43:32] Be careful how you say that. Yes.

John Ray: [00:43:35] That’s right. And I almost bungled that, too. But her new book is called Inside Out Smart. So, be on the lookout for Inside Out Smart.

Stacey Ruth: [00:43:45] Yeah. April 19th it launches.

John Ray: [00:43:46] Coming here in April 19, 2022. And Own Your Own Shift – I got that right – is out. It’s been out. You can get it right now. So, I wanted to clarify that for everyone. But, Stacey, again, thank you so much for coming on. Before we let you go, I would love it if you could, if you don’t mind, sharing your contact information so folks that are interested in hearing more about you and your work can be in touch?

Stacey Ruth: [00:44:15] Absolutely. I think one of the best places to reach me is through my website, unstoppable-leader.com. And you can find me all over social media, Facebook, Instagram, Twitter, Stacey Ruth Says, and that’s S-T-A-C-E-Y. So, I look forward to connecting with your listeners. You’re doing great work here.

John Ray: [00:44:42] Thank you, Stacey. I really appreciate you. And thanks again for coming on.

Stacey Ruth: [00:44:46] Thank you very much.

John Ray: [00:44:48] Folks, just a quick reminder, if you’re a newcomer to this series, you can find the full show archive at pricevaluejourney.com or on your favorite app. Just use that search term price value journey, you’ll find the show. And if you’d like to connect with me directly, just send me an email. john@johnray.co. Thank you for joining us.

 

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 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, Nashville Business Radio, Alpharetta Tech Talk, and Business Leaders Radio. house shows that feature a wide range of business leaders and companies. John has hosted and/or produced over 1,100 podcast episodes.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

Tagged With: imposter syndrome, Inside Out Smart, John Ray, Own Your Own Shift, Price Value Journey, pricing, professional services, professional services practice, professional services provider, solopreneurs, Stacey Ruth, Unstoppable Leader, value

The Go-Giver Philosophy: An Interview with Bob Burg

March 8, 2022 by John Ray

Bob Burg
North Fulton Studio
The Go-Giver Philosophy: An Interview with Bob Burg
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Bob Burg

The Go-Giver Philosophy: An Interview with Bob Burg

Bob Burg, coauthor of the best-selling book The Go-Giver and Hall of Fame keynote speaker, joined host John Ray to discuss the philosophy of being a go-giver, what it means, why giving and receiving are not opposites, why giving does not mean giving away services, how to view price and value, and much more. The Price and Value Journey is presented by John Ray and produced by the North Fulton studio of Business RadioX®.

To learn more about The Go-Giver Community Network, which Bob mentioned during the show, follow this link.

Bob Burg, Coauthor of The Go-Giver and Hall of Fame Keynote Speaker

Bob Burg, Coauthor of The Go-Giver and Keynote Speaker

Bob Burg shares how a subtle shift in focus is not only a more uplifting and fulfilling way of conducting business but the most financially profitable way, as well. For 30 years he’s helped companies, sales leaders, and their teams to more effectively communicate their value, sell at higher prices with less resistance, and grow their businesses based on Endless Referrals.

Bob has regularly addressed audiences ranging in size from 50 to 16,000 — sharing the platform with notables including today’s top thought leaders, broadcast personalities, Olympic athletes, and political leaders including a former United States President.

Although for years he was best known for his book Endless Referrals, it’s his business parable, The Go-Giver (coauthored with John David Mann) that captured the imagination of his readers.

The Go-Giver, a Wall Street Journal and BusinessWeek Bestseller, has sold over a million copies. Since its release it has consistently stayed in the Top 25 on Porchlight’s (formerly 800-CEO-READ) Business Book Bestsellers List. The book has been translated into 30 languages. It was rated #10 on Inc. Magazine’s list of the Most Motivational Books Ever Written and was on HubSpot’s 20 Most Highly Rated Sales Books of All Time.

Bob is the author of a number of books on sales, marketing, and influence, with total book sales approaching two million copies.

The American Management Association named Bob one of the 30 Most Influential Leaders and he was named one of the Top 200 Most Influential Authors in the World by Richtopia.

Bob is an advocate, supporter, and defender of the Free Enterprise system, believing that the amount of money one makes is directly proportional to how many people they serve.

He is also an unapologetic animal fanatic and served on the Board of Directors of Furry Friends Adoption and Clinic in his town of Jupiter, Florida.

Website | The Go-Giver Books | LinkedIn

TRANSCRIPT

John Ray: [00:00:00] And hello, everyone. I’m John Ray on The Price and Value Journey. And I am delighted today to have Bob Burg as a guest. Now, I have been a disciple of Bob’s – he doesn’t know this – because I’m one of those people that has read all his books, in some cases, twice. And if you haven’t done that, I would encourage you to do so.

John Ray: [00:00:22] If you don’t know Bob, he has for over 30 years been helping companies, sales leaders, and their teams to more effectively communicate their value, sell at higher prices with less resistance, and grow their businesses based on his book Endless Referrals.

John Ray: [00:00:44] But Bob is particularly known for The Go-Giver series, and that’s a series of books that he coauthored with John David Mann, and that have been bestsellers. And The Go-Giver, which is the anchor book of that series, has sold over a million copies at last count. It’s been one of the top motivational business books, really, of all time. So, I would encourage you to check those out.

John Ray: [00:01:14] And one other thing I’ll say about Bob, he’s an animal fanatic, and that’s one thing I love about Bob. So, congratulations on that work. Bob Burg, thank you so much for coming on The Price and Value Journey.

Bob Burg: [00:01:25] Hey. Thank you for having me, John. Great to be with you.

John Ray: [00:01:28] Yeah. Thank you. So, let’s talk a little bit about just the origins of The Go-Giver series and what led you to introduce that philosophy? And we’ll get more into that philosophy in just a second. But what led you to it?

Bob Burg: [00:01:49] Well, I guess the answer to what led me to that philosophy is just watching, and studying, and learning what successful people did. And I noticed that people who were sustainably successful always looked to how they could provide value to others. I think they understood something probably intuitively. That is something I say pretty much every conference where I speak, and that is to ask the audience, “How many of you agree with this statement, nobody’s going to buy from you because you have a quota to meet”?

Bob Burg: [00:02:32] How many of you believe that nobody’s going to buy from you because you need the money or just because you’re a really nice person? And it’s the same as a professional. You may not have a quota, but they’re still not buying from you because you would like them to. They’re going to buy from you, or do business with you, retain you, whatever it happens to be, however you want to call the sale, it’s going to be only because they believe that they will be better off by doing so than by not doing so. And that’s the only reason why anyone should do business with you, or with me, or with anyone else.

Bob Burg: [00:03:12] And what I noticed is the most successful people understood this. Now, again, they may have just known this intuitively or they may have learned this, but they understood it. And so, they knew that their job was to always find ways to bring value, immense value, to those they chose to do business with.

John Ray: [00:03:35] In your books, you say this is not religious, although these principles are contained in a lot of the world’s religions, one of the things that I’m curious about is, do you have to have a predisposition toward giving to be a go-giver? Because it is counterintuitive, as you say.

Bob Burg: [00:03:54] Yeah. I think that if you have a predisposition too. And you bring up a good point, too, and let’s first kind of define what we mean by giving in this context. I think people hear the title of The Go-Giver, and they may think it’s talking about giving money, or giving away your services, or not caring about making a profit. And it has nothing to do with those. When we say go-giver, we’re simply talking about understanding that shifting your focus from – and this is just your focus – getting to giving.

Bob Burg: [00:04:31] When we say giving in this context, we simply mean constantly and consistently providing immense value to others. Understanding that doing so is not only a more fulfilling way of conducting business, it is the most financially profitable way as well. And, again, not for any woo woo way out there, magical, mystical type of reasons. Not at all. It’s very rational. It’s very logical.

Bob Burg: [00:04:57] When you’re that person who can take your focus off of yourself and place it on serving others, moving off of yourself, and looking at how you can determine what they need, what they want, what they desire, when you can take your focus off of you and place it on helping another person solve their problems and challenges, well, people feel good about you. They want to get to know you. They like you. They trust you. They want to be in a relationship with you. They want to do business with you directly. And they want to tell others about you. So, when we talk about giving, that is what we what we mean.

Bob Burg: [00:05:35] So, do you have to have a predisposition to it? I think some people have a predisposition to wanting to be of value to others. Now, I think most of us do, actually. Most of us, when we get into business, it’s because it’s our way of expressing our values, our personal values.

Bob Burg: [00:05:55] If you’re an attorney, you want to help that other person. If you’re an architect, you want to help that other person. If you’re an accountant, you want to help that other person. You’re doing all these things through your business. But as human beings, we tend to have a desire to do something that makes a contribution.

Bob Burg: [00:06:19] Now, there’s nothing self-sacrificial about that, though, and it’s important to understand that. It’s through our contribution to others, through giving value to others, that we cause people to, again, want to do business with us. So, that’s why I say it’s not only in alignment with human nature, it’s very, very profitable.

Bob Burg: [00:06:43] Now, if someone does not have a predisposition to it, let’s say they are what we call a go-taker. A go-giver is someone who’s focused on providing immense value to others. A go-getter is someone who takes action. We love go-getters. A go-getter is not the opposite of a go-giver. The opposite of the go-giver is a go-taker. That’s that person who feels entitled to take, take, take without having added value to the person, to the process, to the situation.

Bob Burg: [00:07:10] Go-takers tend to be very frustrated because they rarely attain the kind of success they feel they deserve. But even when they do, and they do sometimes, it’s typically not as sustainable because it hasn’t really been built on a correct foundation. But there are also those go-takers who do, over time, build a financial empire, and they’re very good at what they do, and they make a lot of money, and it’s sustainable.

Bob Burg: [00:07:38] But, first, they’ve got to work awfully hard at it. They probably have some very specific talent that allows them to do that. But they make it as they do not because they’re a go-taker, it’s in spite of being a go-taker. Not to mention, typically, go-takers, even financially successful ones, tend to have awful personal relationships for obvious reasons.

Bob Burg: [00:08:05] So, we say be a go-getter and a go-giver, just not a go-taker. But if someone is by nature a go-taker, they can learn to become a go-giver. But they’ll have to understand why it’s in their best interest to actually focus on the other person.

John Ray: [00:08:23] There’s a moment in The Go-Giver where Joe, who’s the protagonist of the story, he has that moment where he figures it out. And it actually is not at his job, or his occupation, or, for the rest of us, in our business, it’s at home. So, talk about the significance of that, because that was striking to me. That’s when you talked about the law of influence.

Bob Burg: [00:08:54] Right. Exactly. And he realized that his relationship with his wife should not be a 50-50 proposition. It should simply be 100, with both of them looking to benefit the other person. Now, this should not be confused with a codependent type of thing, where one person is abusive and the other person is saying it’s okay. Not at all. That’s not we’re talking about.

Bob Burg: [00:09:22] We’re talking about that, at best, when two people, both, are focused on bringing happiness to the other. Well, now you’ve got a wonderful, wonderful situation. And what Joe realized was it wasn’t that he and Susan should be 50-50, but if he would focus on the 100 part and then as he saw, she did the same, and that’s what happened so often.

Bob Burg: [00:09:44] Well, the reason we put this into the story, because it is a business book and it’s through a business publishing house. But we also wanted to make the point that success principles – and we’re not talking about strategies or tactics necessarily because those do differ across the board – universal laws, they transfer, whether you’re talking about success financially, physically, spiritually, mentally, emotionally, socially, relationally.

Bob Burg: [00:10:10] And we wanted to show that, yeah, this isn’t just for business. It’s actually for all the aspects of life that are so important. But that, often, a principle that is utilized at home can be transferred to business. And a business principle can transfer to the home or to any other other areas. So, that’s why we included that.

John Ray: [00:10:35] You know, it strikes me, Bob, that you’re very familiar with Robert Cialdini and his Laws of Influence and Reciprocity. And I think some people misinterpret reciprocity, and they think it’s meant to plant something in someone else that creates an obligation. And you do a really good job of explaining that’s not what reciprocity is all about.

Bob Burg: [00:10:58] So, our law, Law Number 5, is the Law of Receptivity. Dr. Cialdini’s law is the Law of Reciprocity. And they’re two different things. They’re both fine principles. And they both have their time and place. Reciprocity – and this is in Dr. Cialdini’s book – is the very human need – so it’s an aspect of human nature – to want to return in-kind what someone else does for you. It’s just human nature. And it’s the same with all of us. If someone gives or does something for someone, we have a human need to want to give something to that person. But that’s just how it is.

Bob Burg: [00:11:44] Now, that can be used to manipulate another human being or it can be used just for very innocuous reasons. If you go about giving value to others without – what I call – an attachment to the result, so you’re not giving to this person for the idea that they have to then feel obligated to give back to you. You’re not doing it for that reason. You’re just giving value to others because that’s who you are and because that’s who you are, it’s what you do. You’re naturally creating that benevolent context for success where it will come to you.

Bob Burg: [00:12:20] Now, again, nothing magical, nothing mystical about it. And that when that happens, now is when receptivity comes in. Receptivity is simply the ability to receive that which comes your way.

John Ray: [00:12:36] Now, let’s talk more about that because, as you say in the book or you said somewhere along the way – I can’t remember if it’s in the book or not – that’s the hardest law for folks to wrap their heads around because I think it throws people off. First time readers, the first four laws are about giving and then we’re talking about receiving. Talk about why this is hard and what you counsel folks about that.

Bob Burg: [00:13:08] And you bring up a great point because as John David Mann – my fantastic co-author and really the lead writer storyteller in the series – as he says, the first four laws are like the fingers of a hand. The last law, the law of receptivity, is like the thumb. It brings it together, but it’s a little different. It’s different than the fingers. So, yeah, the fourth first four laws are all about the value you’re providing in certain ways. The fifth law says, okay, now when it comes to you, you need to be able to receive it, and this can be difficult.

Bob Burg: [00:13:40] The law of receptivity says the key to effective giving is to stay open to receiving. This really means nothing more than understanding that you breathe out, but you also have to breathe in. It’s not one or the other. You’ve got to do both in order to survive and in order to thrive. You breathe out carbon dioxide, you breathe in oxygen. You breathe out, which is giving; you breathe in, which is receiving. Well, giving and receiving are not opposite concepts. Yet the world around us gives us the message that they are.

Bob Burg: [00:14:15] And whether it’s a combination of upbringing, environment, schooling, news, media, television shows, movies, social media, political conversations, whatever, what do we hear all the time? That money is horrible, and the people who have money are bad, and they did it on the backs of others, and they this, and they that. You see it in every movie and on every T.V. show, the villains are always wealthy. Now, there are people in the world who certainly do things that are evil and bad and some of them make a lot of money.

Bob Burg: [00:14:44] But for those of us who are operating in a basically free market type economy – and when I say free market, I simply mean no one’s forced to do business with anyone else – the only way you can earn a very, very high income is by providing a lot of value to a lot of people. Because, remember, no one’s forced to do business with you. You have to earn it through the value you provide them.

Bob Burg: [00:15:12] But because of the horrible, not mixed messages, just the horrible negative messages, the anti-prosperity messages were hit with from everywhere around us. It can really get into a person’s head. And when I say in their head, I mean their unconscious, not the conscious part. That’s the most insidious thing of all. That, consciously, sure, everybody, we want to make a lot of money. Great.

Bob Burg: [00:15:35] But unconsciously, if you associate money with something evil, if you associate money with taking advantage of others, if you associate making money with being dishonest, and, again, it’s unconscious, then what you’re going to do is you’re going to push that away. You’re going to reject it unconsciously, but you’re going to do that. And that’s why people have such a difficult time.

Bob Burg: [00:15:56] And I can’t tell you how many people just wrote to us and said, that chapter is the first time I’ve ever felt it was okay to make a lot of money. Well, really, John, we didn’t go into detail in any way about that. It was very surfaced the way we handled it. And yet, still, people were able to kind of see. Because of that, what I would suggest people do is, if they have an issue with this, which most people do, and I certainly did at one time, and that is to make a study of prosperity. A study of prosperity.

Bob Burg: [00:16:36] So, there are people out there like Randy Gage. There are people out there like, well, the late Bob Proctor, who we just lost. There are people like Sharon Lechter and Ellen Rogan and Ken Honda and David Nagel. And there’s just a great book I just read by Derrick Kinney that just came out called The Good Money Revolution. And these people, they write, they speak, they blog, and they go into detail on the mental and emotional aspects of money. And 99 percent of what they talk about is the mental game. It’s how to get past all those blockages and allow the prosperity to come to you that you’ve earned.

John Ray: [00:17:21] You know, I think a lot of services providers have the perception that when you say adding value, that means giving away services to clients. And for you, I want you to say more on that, but it’s really bigger than clients and prospects, and giving value is much, much bigger than whatever your services are. In fact, it may not include anything about your services.

Bob Burg: [00:17:50] So, let’s look at the difference between price and value, because I think it begins there. And it’s important to understand that price is a dollar figure. It’s a dollar amount. It’s finite. It simply is what it is. Value, on the other hand, is the relative worth or desirability of something to the end user or beholder.

Bob Burg: [00:18:17] In other words, what is it about this thing, this product, service, concept, idea, what have you, that brings so much worth or value to another human being that they will willingly exchange whether it’s time, or money, or whatever it happens to be, for this and feel great about it while you make a very healthy profit.

Bob Burg: [00:18:40] Now, it would be like, let’s say, an accountant who does someone’s taxes and they charge the person $1,000. That’s their fee or price, $1,000. But what value are they providing their client in exchange for this $1,000? Well, through their work, their dedication, their getting to know this other person and their business, and what have you.

Bob Burg: [00:19:02] They’re able to save their client $5,000. They save them countless hours of time. They provide them and their family with the security and the peace of mind of understanding it was done correctly. They provide empathy in the process. They are able to work and teach this person how to be able to know that everything they’ve given, this value that they’ve given. They’ve given well over $5,000 in value, way over, in exchange for $1,000 fee.

Bob Burg: [00:19:35] So, the customer, the client feels great about it. But your accountant also made a very healthy profit because it was worth it to them to lease, if you will, or sell their time, their energy, their knowledge, their wisdom, their research, everything in exchange for this $1,000 fee. And maybe 900 of it was profit. And that’s exactly what they needed to make it worth their while.

Bob Burg: [00:20:01] So, in any market based exchange, there should always be two profits. The buyer should profit and the seller should profit. Because each of them comes away better off afterwards than they were beforehand. The more value you’re able to communicate, the more that you can charge, obviously. And most go-givers tend to be people who operate this way, tend to be at the higher end of the price scale, because they’re not selling on price. They’re selling on value. When you sell on low price, you’re a commodity. When you sell on high value, you’re a resource.

John Ray: [00:20:43] I love it. Bob, we’re coming to the end of our time, but I want to get to one other point, which is, you talk about in The Go-Giver Leader. And this is one of the books in your series that maybe solopreneur or small firm owners won’t necessarily read because they think they’re not leading a big team, but they ought to read it.

John Ray: [00:21:06] And one of the things you talk about is the biggest challenge that any organization has is the fear and doubt that swirls around in the minds of team members. And that a leader’s job is to hold fast to the big picture of that vision. Address, though, how do I keep holding that vision myself? Because I need to have it in myself before I can communicate it to my team members and to the world. How do I hold it in myself?

Bob Burg: [00:21:42] Well, the toughest thing for any business owner or any entrepreneur is that, when things are going sideways, which they do sometimes, is not getting so frustrated and scared and all the other emotions that come with it, that you just kind of throw up your hands because they’re looking at you to get your response. And so, we say the easy part is having the vision. Anyone can have a vision. The toughest part is holding the vision, especially as things are going wrong.

Bob Burg: [00:22:16] And so, I think it comes down to really two things. One, it’s that original desire or what they call your why. So, why are you doing what you’re doing? Why did you have that desire in the first place? What was it that caused you to create this business, knowing you were going to work long hours and probably use a lot of your own savings, or whatever you had to do? And so, you had a desire that was obviously very big in the first place. And that’s often not enough to hold it.

Bob Burg: [00:22:50] But I think when you combine that desire with belief, now, is where you’ve got it, in a couple of things. One is having a belief in yourself that you’ve got what it takes. But it’s also a belief in that vision that you’re holding. You’ve got to so believe in that vision and in your desire, the reason why you had that vision, in the first place. Because that’s what the desire is, the vision is the manifestation of that desire, what have you.

Bob Burg: [00:23:26] So, having the belief is what keeps you nine feet tall and bulletproof. It’s that belief that what you’re doing is bringing value to the world. It’s nudging the world forward. It’s doing what it’s supposed to do. And that it’s worth it. And I think when you have that, that’s what allows you to hold the vision. But without that desire being strong enough and that belief being strong enough, well, it’s very hard to hold the vision.

John Ray: [00:24:01] Great words here from Bob Burg. And, Bob, we’ve got to let you go and sprinkle more value around in the world like you always do. But before we let you go, for folks beyond just reading your books, how can people that are interested in your ideas engage with you further?

Bob Burg: [00:24:21] They could go to burg, B-U-R-G, .com, and pretty much everything’s there. One very exciting thing we have going is what’s called the Go-Giver Community. And this is where people all come together who have a business and they really just want to be with a whole community of people that believes in living their lives and conducting business the go-giver away. So, they’re focused on providing value to others and also willing to allow themselves to receive that which others wish to give to them. So, it’s a really, really great community. So, we invite people to come and take a look.

John Ray: [00:25:02] That’s great. Bob Burg, he along with his coauthor, John David Mann, is the author of The Go-Giver series of books. Bob, it’s been a pleasure and honor to have you on the show. Thank you so much for joining us.

Bob Burg: [00:25:16] Oh, thank you. It’s been a pleasure.

John Ray: [00:25:19] I want to thank Bob again so much for coming on The Price and Value Journey. I can’t think of anyone more qualified to talk about value than Bob Burg. If you want to know more about Bob and The Go-Giver philosophy, go to burg.com. You can find all his books there, including The Go-Giver. There’s an expanded edition that just came out in the last few years. He also has The Go-Giver Sell More, The Go-Giver Leader, and The Go-Giver Influencer. And I recommend all of those books, they’re terrific guides to success in business.

John Ray: [00:26:05] Bob mentioned his Go-Giver Community network, and if you’d like to know more on that opportunity, go to thegogivercommunity.com. That community is the answer to the question, What do I do now that I’ve read the books? What do I do now because I want to dive deeper? And that community is a great answer to that question if you’re interested in more.

John Ray: [00:26:29] I’m John Ray on The Price and Value Journey. And if you would like to check out our complete archive of shows, go to pricevaluejourney.com. And if you’d like to connect with me directly, send me a note at john@johnray.co. Thank you for joining us.

 

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 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, Nashville 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 1,100 podcast episodes.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

 

Tagged With: Bob Burg, John Ray, law of receptivity, pricing, professional services provider, solopreneurs, The Go-Giver, The Price and Value Journey, value

Nice, Kind, and Offering Value

March 7, 2022 by John Ray

Nice, Kind, and Offering Value
North Fulton Studio
Nice, Kind, and Offering Value
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Nice, Kind, and Offering Value

Nice, Kind, and Offering Value

You can always be kind, but being nice can sometimes inhibit your capacity to deliver value. Yes, there’s a difference between being nice and kind. A story and some thoughts on nice, kind, and offering value to clients and prospects in your professional services practice. 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] And hello again. I’m John Ray on the Price and Value Journey. As you manage relationships with prospects and clients in your professional services practice, it’s important to understand the difference between nice and kind. Yes, there is a difference between being nice and being kind.

John Ray: [00:00:24] Several years ago, I was invited by a local economic development official, I’ll call her Ann, to sit in on a meeting with an entrepreneur who was opening a new business concept. This project required a significant investment on his part, and this entrepreneur, who I’ll call Bob, he wanted feedback from several business professionals on his concept. Well, Ann asked me to be one of those professionals, and I sit in on a presentation of Bob’s plans. And he talked about the market for his service, the amount of investment, et cetera. And he went on and he went on and he went on. And I began to feel like my sole purpose in the meeting, along with everyone else who had been asked to join, was to serve as basically a potted plant, making the scene look tranquil, but to stay quiet and acquiescent and nodding my head.

John Ray: [00:01:24] Well, finally, I had an opening to ask a question and then another one and more after that. And the questions that I asked were about what I thought were holes and inconsistencies that I saw in his business plan. For some of the questions, Bob had thoughtful answers. For others, he scratched his head, took some notes, and said he’d have to do further work.

John Ray: [00:01:49] Now, our exchanges were direct but friendly. Well, that’s what I thought anyway. But Ann didn’t think so. She pulled me aside after the meeting. “Is there something wrong with you?” she said. I could tell by the way she asked the question she wasn’t really interested in my health and welfare. “No. Why?” “You asked questions which bordered on rude.” “Well, I thought we were here because Bob wanted feedback on his plans.” She replied, “But all your questions were negative. You didn’t have to get into everything that was wrong.” Ann never invited me to any meetings like this again.

John Ray: [00:02:30] But several years later, Bob called me. “I want to thank you,” he said. “For what?” “Well, I remember you and you stood out in that meeting we had because you were the only person who asked me any tough questions. What you asked made us think and helped us sharpen our plan, and we’re better off because of it.”

John Ray: [00:02:53] It would have been enough if he just called to tell me that. But here’s the reason he called me. He wanted to hire me for some consulting related to his pricing. He said he knew I’d tell him what he needed to hear which was good for the project instead of just what he wanted to hear. This guy, I thought to myself, is going to be successful. He’s a mature entrepreneur who understands that asking for feedback sometimes means receiving constructive criticism, which would be vital to honing his plans.

John Ray: [00:03:30] As a professional services provider, your job is not to be nice. The best clients, in fact, don’t want nice. There’s not a lot of value in nice. Their primary concern is the outcomes that you can help them deliver. They want you to diagnose and fix their problems and, yes, be kind while you do it. But the best clients don’t have time for a shallow backslapping, and they are willing to pay you fees commensurate with the value that you deliver.

John Ray: [00:04:08] You see, nice is what golden retrievers are for. My golden retriever, Cooper, is always ready whenever I’d like the nice treatment. And the economic development official, she thought Bob wanted a room full of golden retrievers wagging their tails at everything he offered up. On the contrary, Bob wanted value, yes, value delivered in a kind way, but he wanted value. What he wanted most of all was help getting to his desired outcomes. And he was willing to pay for that value. And, yes, as a result, his business has been successful.

John Ray: [00:04:51] I’m John Ray on the Price and Value Journey. If you’d like to find our show archive, you can go to pricevaluejourney.com. And if you’d like to connect with me directly, you can email me, 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, Nashville 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 1,100 podcast episodes.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

 

Tagged With: deliver value, John Ray, kind, nice, offering value, Price and Value Journey, pricing, professional services provider, professional services providers, solopreneurs, value

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