907: ACTION SATURDAY (examine your offer!)

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Hey, what is up?

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Wontrepreneurs and entrepreneurs all over the world it's Brian Lofermento here, host of the Wontrepreneur to Entrepreneur podcast, and this is an Action Saturday episode.

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That it's going to be quick, it's going to be actionable, that's the entire point of these Saturday segments.

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But really, I wanted to put into focus something that I feel like we all overlook in all of our businesses, whether you have a product-based business, a service-based business, all of our businesses, whether you have a product-based business, a service-based business, it's so easy to obsess about your marketing, your sales, your email systems, your automations, your productivity, your own logistics, your scheduling, your partnerships.

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There's so many things that we all have to think about when it comes to running and growing our businesses.

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But it's funny because, to me, the one thing that is the most important above everything else is quite simply our offer, and that's why, for this Action Saturday episode, I don't want to talk too much.

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I just want to give you a very gentle and firm nudge to remind you to go and assess your offer, and I am going to impart you with a few different things that I like to do, probably on a quarterly or maybe even other quarter, every other quarter basis, which I should get better at.

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It should be a quarterly basis.

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But that is to go through your offer.

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Go through it with your business hat on, go through it again separately, with your customer hat on, and really ask yourself what is my offer?

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Okay, and I'm being very intentional today about my use of the term offer and not just your product or service.

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I'm not saying that we have to reassess our products and services.

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In fact, I hope that you already have a great product or service.

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But the truth is, the success of that product or service is going to rely on how effective and appealing and enticing and attractive your offer is.

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Now your product or service is the most important part of that offer.

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But we all know, as consumers and customers, that an offer consists of way more than just a product or a service.

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For example, if we go to a car dealership, what's the very first thing we're going to ask them?

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The price.

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What's the next thing we're going to ask them?

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Probably about the warranty.

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The next thing we're going to ask them about is all the other things that come with it, whether it's features, whether it's software, whether it's hardware.

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We're going to ask all of these things, and all of these things together come down to what the offer actually is.

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Now, successful offers also consider things like social proof and credibility.

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When we go to a car dealership, if our neighbor tells us, hey, I had a really great experience with Bob's Honda company, well then that's going to give Bob's Honda company, if all else is equal, an advantage over Joe's Honda company, and so our offer really is reliant on all of these different components.

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So the two things that I really want to impart on you actually three things.

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I'll issue you three challenges for this action to take, on this Action Saturday.

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The first thing is for you to go through it.

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Go through it, like I said, with your entrepreneur, your business owner, hat on.

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Also, go through it with your customer, your consumer, hat on.

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So that's step number one of this Action Saturday.

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Step number two is to look at your competition.

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I think that the competition it has so many incredible nuggets of knowledge for us to learn from, both if they're good, you've got a lot to learn from them but also if they're bad poke holes in the things you see on their website, in their sales and marketing material, in their pitch, in their offer layout, in their offer structure.

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Assess all of that, both good and bad and pick things up from it and use that to improve your own offer.

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And then the third and final part that you can an action that you can take to assess and reassess your own offer is bounce those ideas off of AI.

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I've said in so many conversations with all of our amazing guests when we talk about the topic of AI I love AI being an extension or actually an alternative brain of mine, where I'll just talk to it as if I'm thinking out loud and I'll say, hey, today I'm reassessing my offer.

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I don't just want to view my offer as my product or service.

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I want to view it as everything that my potential customers will take into account when it comes to making a buying decision.

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Here's all the things that I've thought of.

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Can you ask me questions to challenge how solid my offer is or the validity of my offer?

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Can you think of other ways to make my offer even more compelling?

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All of these things, whether it's a warranty, a guarantee, whether it's adding in a bundle or an upsell or whatever it may be, there's so many ways.

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Honestly, it's hard for me to even sum it up in one five-minute episode, because there are so many ways for you to make your offer better.

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So leverage AI, get that external point of view, someone who's not a person that thinks like us and someone or something that doesn't have the same thought process that I do or that you do get a totally different perspective on it.

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So that's your action.

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For this action, saturday Gosh.

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You could see how excited I am about talking about offers because it goes so deep.

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It's not just our product or service.

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That's only one ingredient, one component of an offer.

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So make sure that your offer is sound.

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It's so important.

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It's going to determine if people buy from you or don't buy from you.

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So get out there, take action, make that offer as strong as you can, because guess what?

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In a few months, we're going to be talking about Black Friday, we're going to be talking about the holiday buying season, we're going to be talking about all those things.

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So you better have a good offer before people are in the buying mood.

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That's it for me today.

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I'll see you right back here tomorrow.