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Matthew Mabel

Free and Fee

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Matthew Mabel

A few of my clients and prospects in my restaurant consulting practice have always been heavily concentrated in delivery and they are killing it.

Everyone else has experienced a revenue drop of between 80 and 100%.

So I have been doing a lot of “free” - helping people figure out how to stay alive.   

Rewarding work, but not financially - yet. 

Using Alan’s concept of “free and fee” I am thinking about when free turns to fee. 

When the SBA money comes in?

When dining rooms are open again?

Also challenging to create new offerings to line up with these events since I don’t control them - and they will happen at a moment’s notice. 

Later?

For those of you who have clients with businesses that are effectively shut down, wondering how you are approaching this.

 

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Alan Weiss

I don't think you should be reliant on external financing, since many of these people DO have funds to invest, so the question becomes what's the return on any investment.

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PaulEvans

Matthew, Alan has been an excellence example in this regard. He is offering high-value. interactive events, but also continuing to draw people to fee based workshops and products.

One idea: Take the best practices of your delivery based clients and host a live stream for those who aren't successful in that vein. Call it something like: Deliver: How to Pivot & Profit to Takeout. That gives you a one time free event with replay. Those who want you to work with the personally on the process become fee based.

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KrisWalkerly

@Alan Weiss I'm considering offering a free 60 minute strategy call to all my current and past clients to help them clarify and implement their strategy during this crisis. On the call we could discuss:

  • How to adapt your existing strategy to these turbulent times
  • How to help your team stay focused to implement your strategy
  • If you don’t have a strategy, how to quickly create one

I'm also planning on promoting Sentient Strategy as a virtual service (for fee!)

Question: Does this seem like a good mix of free vs fee?

I've also been calling all my past clients to see how they are doing and how I can help, and I've been able to schedule follow up calls with many. And I'm offering a free webinar in two weeks.

 

Edited by KrisWalkerly
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Alan Weiss

Kris, I don't know how this didn't come up in my "unread stuff" list, or maybe I missed it.

I think it's a good approach. I would be bolder, myself: "Your current strategy MUST be changed, and in very quick order."

My technique for calling everyone and asking if you can help is working for a lot of people! I had a coaching call with Kevin this morning and he related how the client said, "We need this, but I insist on paying for it." Kevin used clever language in response, "Oh, okay."

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KrisWalkerly

Thanks Alan.  you explain more about why an organization's strategy MUST change. Is it the strategy itself or it's implementation that must change? For example, if my strategy is to become THE most sought after philanthropy advisor in the world, it seems to me that doesn't change. But would need to adapt how I accomplish/implement that, given the current situation.

Or do I need to take Sentient Strategy again?!

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Alan Weiss

You're confusing vision with strategy, although the vision may well change, too. 

It's as obvious as a ham sandwich: The "old" strategy was based on different conditions (economics, growth, global connections, social mores, confidence, etc., etc.). We're in a new world. Some things will be constant, some will adapt, some will have to radically change. You need a new strategy, not for implementation, but for creating the right framework for decision making.

That applies to all of you, not merely your clients.

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Hamish Mackenzie

I know you didin't ask me, but as I just finished Sentient yesterday, maybe this is fresh for me. I would have thought that becoming THE most sought after philanthropy advisor in the world is your desired future state, and your strategy is about the "propellants" you need to focus on to get you there. Not only may you need to choose different propellants, you also need to address them faster, and potentially use different tactics to do that. Those are the things that change.

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Aviv Ben-Yosef

Have you stopped mailing these? I’ve only received the first and I kinda like it. 

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Alan Weiss

You only get one! 

Of course, buy an Alan Card or a Rolls Card and you'll get a different one, that's what the really "in" people do. Just ask Colleen.

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GeneMoran

Congrats Hamish!

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Hamish Mackenzie

Thanks. I'm gonna frame that.

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KrisWalkerly
On 4/9/2020 at 11:49 AM, Alan Weiss said:

The "old" strategy was based on different conditions (economics, growth, global connections, social mores, confidence, etc., etc.). We're in a new world. Some things will be constant, some will adapt, some will have to radically change. You need a new strategy, not for implementation, but for creating the right framework for decision making.

Thanks Alan, very helpful. I've started using this language with clients and prospects.

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Alan Weiss

Good. We need to also use it for ourselves. I find it extraordinary that the irony of refusing to spend money on one's own development is a mirror of the complaint that prospects don't want to invest money in themselves for our services. Being a coach is not exactly rocket science. 

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