Impact Pricing26 Juni 2023

Why You Need to Engage to Have Value Conversations with John Ray

John Ray is a Pricing and Business Development Coach for Professional Services Firms, and a Podcast Host and Producer.

In this episode, John shares optimal strategies for positioning your value proposition to attract the best fit clients for your business.

What you will learn from this episode:

Discover how to craft a compelling value proposition by identifying the unique value that your clients perceive in your offerings
Learn about the importance of continuing value conversation
Overcome the fear of pricing the value you provide to your clients

"Develop your options around that client and let them choose. And you'll find out your pricing suddenly improves."

- John Ray

Topics Covered:

01:15 - How he got himself into pricing

02:10 - Who is his ideal client?

03:59 - Insights on solopreneurs making their business work even if they don't necessarily plan on being a business owner

05:28 - The feeling of fear and inadequacy in pricing in a lot of solopreneurs

06:11 - It's not all about expertise but the value you deliver

08:13 - Suggested value proposition to this case: Roger [the client] loves the fact that I calm him down when he gets notice in the mail, I'm trying to win some new business

09:01 - The importance of continuing value conversation

11:10 - One way to lead a value conversation and for people to dig deep with you

11:47 - Optimal win rate or rejection rate and the significance of having a value conversation

15:25 - Benefits of accepting all clients when you're just starting out [and advantages of niching]

18:42 - Turning the intangible value you have into a tangible range of values for the client

20:47 - Price effectively or end up costing your business

24:10 - John's thoughts on this: If I'm bidding and there's no competition or there is competition

26:11 - John's pricing advice

Key Takeaways:

"By definition you'll be getting better clients by that measure [35% win rate]." - John Ray

"The great thing about a value conversation, it's a net that allows the great clients in that fits you well, and keeps out the ones that are not great fits." - John Ray

"You don't lean on what you think you're worth, you lean on what the value that you've been able to uncover in that conversation." - John Ray

People / Resources Mentioned:

Ron Baker: https://impactpricing.com/?s=Ron+BAker
Allan Weiss: https://alanweiss.com/shop/books/hardcover/value-based-fees-3rd-edition/

Connect with John Ray:

LinkedIn: https://www.linkedin.com/in/johnray1/

Connect with Mark Stiving:

LinkedIn: https://www.linkedin.com/in/stiving/
Email: mark@impactpricing.com

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