“Go-givers tend to make a very good profit because they sell on value.”
When you hear the term “go-giver” what do you think of? Do you think of someone who gives and gets nothing in return? Or do you think of someone who gives value consistently and ultimately reaps financial rewards as a result?
Our guest for today’s episode, Bob Burg, defines it as the latter. Bob is the co-author of the best-selling book, The Go-Giver, a book that has sold over half a million copies around the globe. Bob is also an international speaker and the man behind The Go-Giver Sales Academy, a two-day event that helps entrepreneurs and business owners accelerate their growth.
It’s an absolute honor to have Bob on the show; listen in as we discuss the principle of The Go-Giver, its five laws, plus much more!
Listen to this episode and discover:
- What does it actually mean to “go-give”?
- What is the only reason people buy from you?
- Bob explains the difference between price and value.
- In a free market exchange, what are the two profits?
- What is a “phonus balonus” and how do you avoid being one?
- And so much more!
On this episode of Grow My Revenue, Bob and I cover a lot of ground, including people’s biggest misunderstandings about the concept of being a go-giver, what holds most people back in sales conversations, and the five laws in The Go-Giver.
Bob says the biggest misconception people have about being a go-giver is that it means you don’t care about profits. That idea is patently untrue; being a go-giver simply means shifting your focus to one of giving to others first and providing consistent value to them.
By doing so, you will increase your profits and revenue, because at its core, selling is about focusing on what the other person wants, needs and desires. And when you do that in a genuine way, people want to buy from you, and they want to refer business to you. According to Bob, this is the single greatest skill you can have: a highly developed and authentic interest in the other person. When you have that, the rest – including profits – will follow.
To explain the principles of the go-giver on a deeper level, Bob shares a brief summary of each of the five laws covered in the book.
1. The Law of Value
Your true worth is determined by how much you give in value versus what you take in payment. Your clients should perceive the value they have received as being much greater than the price they paid. When they do, they’ll feel good and you’ll make a healthy profit.
2. The Law of Compensation
Your income is determined by how many you serve and how well you serve. The Law of Value represents your potential income, and the Law of Compensation represents the level of impact you have. If you only serve one person then your income is limited, but if you serve many, your income grows. With this law, Bob also explains why referrals are so important.
3. The Law of Influence
How abundantly you place other people’s interests first is the Law of Influence. The basic premise of this law is the golden rule of business and sales: all things being equal, people will do business with and refer business to people they know, like and trust. Focus on bringing value to your clients so it creates a win for them, and you will win as well.
4. The Law of Authenticity
The most valuable gift you have to offer is yourself. No matter how skilled you are at sales, if you don’t show up as yourself, it is all for naught. If you aren’t yourself, people won’t trust you or feel comfortable with you, and will stay away. Bob explains that most people who don’t show up as themselves do so because they lack self-confidence.
5. The Law of Receptivity
It may seem counterintuitive, but the key to effective giving is to stay open to receiving. We receive a lot of mixed messages from the media about having money and being wealthy: what sells in the media is the evil wealthy person. But in a true free market-based economy, the only way you can make a lot of money is to serve a lot of people and serve them well.
Also on today’s edition of the show, Bob and I discuss the skills that hold most people back during sales conversations, what to do if you discover that you and your client aren’t a good fit, and his Go-Giver Sales Academy. Tune in for all of that and more on this episode of Grow My Revenue with Bob Burg!
The Go-Giver web site
The Go-Giver Sales Academy
The Go-Giver, by Bob Burg and John David Mann
The Go-Giver Leader, by Bob Burg and John David Mann
Selling with Noble Purpose, by Lisa Earle McLeod
Leading with Noble Purpose, by Lisa Earle McLeod
Also Sponsored By:
Check out John Ruhlin’s new book Giftology. John is a brilliant guy, and his book is sure to be an instant bestseller.
If you enjoyed this session with Bob Burg let him know by clicking on the link below to send him a quick message on LinkedIn or Twitter:
What’s On Your Mind
As always, this episode provides inspiration, entertainment, and especially an actionable message that can drive remarkable results – and if you have any questions for a future episode, contact me.