Buy Joe Cole's Book at Barns and Nobles

image source: Flickr user EvelynGiggles

I don’t know if you have ever been to Costco, but Costco has it figured out.

They offer more value than their competition is how they sell more stuff.

I particularly, though I hate to admit it, enjoy going to Costco probably 2 to 3 times a week to buy a vanilla strawberry sundae.

It costs $1.77 and that includes sales tax.

They give it to you in a big cup, it is an over-sized plastic cup filled to the top and they load it up with strawberries on top of that.

Obviously, once I finish my sundae I don’t leave Costco. I shop the store and generally spend on average $100 while I’m there, so theoretically I’m spending $100 plus $1.77 every time I go to their store.

I’m really not shopping price at that point, because I’m already there and I know that they are competitive because they are a buyer’s group.

Think about customers that you have and what kind of value you are bringing to the table for your customers so they know you are competitive, but they are not going to shop you up and down the street.

[Tweet “Think about customers that you have and what kind of value you are bringing to the table #MCC”]

For me, in real estate, I offer the work ethic of door knocking our listings. As a matter of fact, yesterday I was on a property that we were walking. It was an industrial property. It was 108 degrees out and we were just sizing it up for an end user to do a lease with us.

It was 10 past 12 in the afternoon and I had the choice of going to Costco for my vanilla strawberry sundae or to make 10 walk-in cold calls for a property that I was promoting in East Tampa. Well, I said to myself, personally it is my value proposition to my customers.

I have to make at least a minimum of 10 walk-ins a day to bring more value than my competition does for our listings.

I decided to stay on the street I was on and go out and make 10 door knocks, which I did. It took me less than 40 minutes. The last door knock I made I walked in to a distribution company.

I shared the information with the manager who was from a different part of the state and who had no use for the property I was promoting; however, there was a landscaper in the lobby that overheard me talking about the listing I had.

He told me that he was in the market for a property to buy himself. He gave me his budget, he told me where he wanted to be, and I immediately told him of 2 properties that we have in East Tampa that would fit his budget and are laid out for a lawn care company. I am actually showing one of the two properties tomorrow for him to potentially buy.

Now, I will get paid a handsome commission for that, and I’m grateful that I am, but honestly I would not have instigated that opportunity without committing to the value that I bring to customers to know my territory and also to promote properties that we have.

So think about what you bring to the table to add value to your customers. If you do have better value than your competition, you will earn more opportunities and you will definitely get paid a higher price.

Think of Costco when you are evaluating your business. They get paid a higher price because they bring value. They exceed their customer’s expectations and that is why people flock to their store. Think about how you can exceed your customer’s expectations and let me know how you make out.

In Joe’s Words

 

How To Sell More Stuff By Getting Out Of The Office

 

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