The One Question All Entrepreneurs Must Ask Themselves

By Predictable Profits Team Member Zach Burkes

He started our conversation with, “I just feel like I’m stuck…”

I sat there patiently, writing down notes, trying to understand his situation clearly… But I sensed where he was going.

He continued, “You know, it’s like our prospects often don’t get the value of what we do – or it takes them a long time to understand.”

I’d heard this many times before, so I leaned in with, “Mind if I ask you a question?”

He replied, “Sure,” sounding vulnerable and unsure of where I was going next.

“I’m guessing you find it difficult to get people to pay you the prices you’re after too, right?”

You could feel it in his voice. I had hit him square in the chest.

He replied quietly, “Yep, you’re right – but I don’t understand why…”

Every day, I have the good fortune of speaking with committed, passionate entrepreneurs who believe their business should be doing better.

They come to us for many reasons:

• Their business is “stuck”
• The business is leaking profits all over the place
• There are no systems within the business (the business owner is doing everything)
• They’re competing on price…

… And the list goes on.

In fact, in the last year alone, I’ve personally spoken with over 1,000 entrepreneurs, their businesses ranging from $50k to $15 million in revenue…

And when I hear the reasons above, I certainly take them into account – but I know the primary reason they’re stuck isn’t likely to be their strategy, tactics, or even the service they offer.

No, it usually stems from one thing: a failure to position themselves appropriately.

They’ve failed to separate themselves from their competitors, and instead, they are inadvertently forced to compete on price.

…Crushing their margins, lowering their income, and making it even more difficult to deliver the highest quality product/service.

Like most things, this can be fixed!

There is one question so powerful that, if you nail it, you’ll have committed, decisive clients (high-paying ones) lining up to do business with you.

Ready?

What is the ultimate result or advantage you provide for your clients/customers that your competitors can’t say about themselves?

Seems simple enough, right?

Not only does this question better define exactly what you do for your client/customer, it also allows you to position yourself as the foremost expert in your space.

This further cements the reason WHY your prospect should do business with you in the first place! 

I’ll always do a little bit of research before hopping on calls with an entrepreneur I’m scheduled to speak with.

I’ll typically do a quick LinkedIn search, check out their Facebook page, and view their website. Nothing too in-depth, but enough to get a feel for “what they do.”

Unfortunately, it isn’t always clear. In fact, it’s typically something like…

“We make X gadget that has Y features, and we’re changing Z industry.”

Which is fantastic… To the business owner. As a prospective client, this tells me nothing about what “result” you’ll provide.

Here’s an example of a head-scratcher:

This is an old image (which they’ve since changed), so I don’t feel too bad harping on them here… But do you have any idea of what they do?

That headline is enough to make your head spin. Why are they sticky, and why do you want to be shiny? I’m thoroughly confused.

Anyway…

The question comes down to you:

Why should I choose you? What is the big advantage for me in choosing you over a competitor?

This is one of the first questions I ask every entrepreneur/small business owner I speak to:

“What is the one reason your ideal client should work with you?”

They’ll say any number of these:

1. We provide great service
2. We really care about our clients
3. We provide great support

To which I say: “Yea, so does everyone else.”

Wouldn’t you expect great service, personalized support, and over-the-top care from any company you choose to do business with?

I do.

That isn’t the “big advantage” you provide. Think about your competitors… How do you offer a unique advantage to your customers/clients in a way they are not?

Crisp Video is a leading video marketing company for attorneys.

They could have said: “We’re a video marketing company who offers the best videos, the highest quality, and a great price.”

But what’s special about that? Any one of their competitors could say that…

Instead, Michael Mogill (CEO of Crisp) thought about the biggest benefit his videos create for attorneys, and realized the biggest reason an attorney should choose Crisp over all their competitors is:

“Attorneys who produce videos with Crisp Video see an average return on investment of 300%, and a 2-10X increase in their average case values.”

Or simply stated: “We help you increase your case values.”

There is a reason Crisp is the most expensive in their industry – and still #1. Not only do they provide great results, they also know how to convey that to their prospective clients.

And because of it, their clients refer others, buy more frequently, and are tremendously loyal.

After all of this, you may be wondering, “How do I figure this out for me? I don’t even know where to start…”

I have a tip for you:

What do your customers/clients say is the biggest reason why they hire you?

(The advantage? Creating high converting content that drives more leads than ever)

Check out this testimonial from Todd Mitchell, and see if can you guess why people choose to work with us (beyond just growing their business):

As Todd said, even though he’s made millions with our strategies, it boils down to our ability to help companies create “better versions of themselves” (we explain it in more detail in this webinar).

If you don’t have any testimonials, speak to your current clients/customers to understand what they love most about what you do…

…And if you don’t have clients/customers yet, speak to those who would be!

Dig deep.

Ask them: if there was one thing we could do that would make your life easier, what would it be?

Remember, if you’re competing on price, having trouble demonstrating your value, or getting an advantage across to your prospects – it isn’t the method you’re using… It’s the message!

If you’re falling short of expectations, feeling stuck or unsure where to go next — join us on this webinar.

If you’d rather speak with one of us – schedule a call and we’d be happy to provide some clarity on what’s holding you back.

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