January 30, 2010

The Law of Compensation

Touching as many people’s lives as possible is the next step along our journey to achieving stratospheric success.

Doing good all the time seems like something that will lead you down a path of being broke. If I’m constantly giving, wouldn’t it seem like I’d lose all the things that I currently possess?

This law got me a little confused

but after learning the true potential behind it, I realized that it truly isn’t about the money…but it’s about the IMPACT that we have on other people, whether they are our client or not.

In the awesome picture professionally drawn by yours truly, you can see the difference between example 1 and example 2. In example 1 there is a little bit of a bond established between you and your prospect/client. In the second example, you see that the bond has grown. When the bond grows, the KLT principle increases, your client gets to Know you better, starts to Like you more, and they have more Trust in you and your service. A tip for building these relationships is to let the other person shine, to let their genius show and not to try to be the “one-up guy”.

Think about ways that you can help this other person by providing value to them, offering a helping hand, or even offering some advice.

Even though there isn’t a tremendous difference in the relationship between you and the client, it improves the impact that you have on their life. It allows for YOU to become a more trusted advisor to the client and this sometimes leads to referrals directly from them, even if they aren’t the one who is buying your product or service! When you take the time to build bonds with people, they are more likely to help you out just like you and I are more likely to help a friend move into/out of an apartment. (I remember over the summer one of my buddies called me up at 10:30pm and said he needed to move out of his apartment by midnight because he was living with a crazy girl…of course, I stopped what I was doing and went right to his apartment and helped him move his stuff. The reason for this is because we had built up a bond and I gladly helped him)

The same is true in business

Bonds are created through networking and building up relationships with one another. Often we are taught that competition is bad and we often hate our competitors. However, this isn’t a good approach to business as Collaboration is good for Entrepreneurs. By building up relationships and bonds with others, we increase the impact that we have in our industry. The more impact we have, the more people’s lives we can touch and ultimately improve! How awesome is that, we have the opportunity to help people, impact their life and help them. I don’t know about you, but I find that this is an amazing way to live life.

The cold hard truth about sales…

Making sales is a concept. Touching lives is a reality. Sales is not about concepts; it’s about people.

Keep this in mind when you are thinking about the “hard selling concepts” which are becoming less and less important in today’s business world. Transparency is in and helping people is going to be the cornerstone of successful businesses.

Questions to consider:

“How can I improve the life of _______”

“How can I make a difference in _________’s life?”

“What is the best way for me to teach this?”

“How will this information help my target audience solve a problem that they are having?”

I’d love for some input from you on this and as always would love for you to share this with others if it has helped you in any way.

“Your income is determined by how many people you serve and how well you serve them.” –The Law of Compensation.

You can pick up a copy of the book, “Go-Givers Sell More” by clicking on the link below: This is where I learned this information, a great book that I highly recommended all people who are interested in business/sales/referrals..

and if you are more curious about the laws of stratospheric success I recommend reading “The Law of Influence” next

Chris Hughes

Chris loves learning, going on adventures, surfing and having fun. Chris on Google+

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