“The next stage of evolution in your growth is that you’re going to need to bring on a salesperson.”(22:14 – 22:19) – Janet Clark, The Freedom Shift
In this episode of The Sales Matchmaker, Janet introduces the guest, Dan Nicholson, who is a financial wizard. They discuss the importance of recognizing the various systems that you all have to look at within each stage of your business. One of which is the financial system.
Most people don’t associate entrepreneurship with writing an accounting standard. Anyone who takes the entrepreneurial route are more tuned in than a lot of other people to their God-given strengths and talents. There’s something inside of you that’s saying you’re supposed to do it your own way. You’re supposed to do it different and better and make a bigger impact. But then you come into this financial part of it, which a lot of people shy away from, and it becomes an intriguing area.
“When you’re in sales, you’re acutely aware of pricing bias, and anchoring bias and how you need to overcome that with your potential clients in the sales process.” – Dan Nicholson (9:02 – 9:18)(9:02 – 9:18) – Dan Nicholson
We have this unconscious mental biases within us that we probably don’t even know are there. Even if somebody tells us they’re there, we don’t see it. And yet they will hurt us as we look at how we’re going to increase our sales, what we’re going to charge out in the market for the programs we’re delivering, what our worth is in the marketplace, and our ability to be able to actually sell ourselves at a high ticket level.
For business people who don’t have somebody helping you from the financial perspective, you are probably limiting yourself because you can’t see your own biases and you can’t see your own limiting belief.
One of the Basic Economic Principles is that Money is Fungible.
The idea is that you can replace money with other things that are tangible but of equal value. However, for so many people, the more money they get, the more they spend. So you need to ask yourself that when you do get your money, what are you going to do with it?
The book ‘Profit First’ is all about bucketing all the money coming into your business, making sure that you pay yourself first. As entrepreneurs, we know that’s what we should do but we don’t always do it. We have to make sure that there’s some money put aside into the profit.
“One of my main principles is first we optimize then we maximize.”(18:16 – 18:20) – Dan Nicholson
Maximizing is what conventional financing is about. Optimize is about considering what is the most critical path or thinking about the outcome that you want a year from now. So the next level in your business growth is profit priority. The exercise is to think about what you want and lists it out.
If you want to hit these goals in two years or five years, you need to know how much you actually need to make the business grow to make that happen. That becomes a much more systematic targeted way of growing.
How to Get Involved
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Janet has an extensive background in sales, has closed millions of dollars in high ticket programs, and has the expertise needed to move your business forward. Join our SALESMAP program and be matched with a salesperson now.