If I Were Competing With Bain or McKinsey, I'd Say This — Transcript

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1. 0:00Finance consulting. How to convince
2. 0:01clients to sign me whereas there are big
3. 0:04consulting firms providing the same
4. 0:05service at three times the price but
5. 0:07clients still choose them. Yeah, they
6. 0:08just don't believe you did.
7. 0:10They just don't believe you. You might
8. 0:11also be underpriced.
9. 0:13Which is a fun one. You might actually
10. 0:14have the opportunity to
11. 0:17get people to spend more money with you
12. 0:19in order to believe that you are
13. 0:21actually able to help them. You might be
14. 0:22so low they don't even believe it.
15. 0:23And so I would consider
16. 0:26number one, raising your prices. Number
17. 0:27two, every competitor every competitive
18. 0:30position in the market has an advantage.
19. 0:32Right? If you are the small guy then
20. 0:33you're saying listen, you're not just
21. 0:35getting cuz like this is how I would
22. 0:37sell against a bigger consulting firm. I
23. 0:38would say listen, you're not actually
24. 0:39getting Bain or McKinsey like those guys
25. 0:41are dead. You're getting some partner
26. 0:44who's going to give you 5% of his time
27. 0:45and then you're going to get one kind of
28. 0:48lead who's going to give you 50% of his
29. 0:49time and then you're going to get
30. 0:51and two analysts that are fresh out of
31. 0:53college that have no experience that are
32. 0:54just going to grind through an Excel
33. 0:55bootcamp that they trained up in 12
34. 0:57weeks. All right, that's what you're
35. 0:58actually buying. So you basically have
36. 0:59to demystify, you have to de- you have
37. 1:02to take off the brand wrapper and all
38. 1:04the narrative and all the story from the
39. 1:06competitor
40. 1:07and then you wrap your own on and say
41. 1:09with me you get my cell phone. I am of
42. 1:12the equivalent level of these top guys
43. 1:14and not only that, I actually am good
44. 1:15enough to go out of my own. So they
45. 1:17aren't good enough to go on their own. I
46. 1:18am and you're going to get me directly
47. 1:20in 100% of my time rather than some
48. 1:22fractionalized version with me pushing
49. 1:24out the vast majority of work to
50. 1:25analysts who have no idea what they're
51. 1:25doing. Right? So you just have to pull
52. 1:27back the curtain, show them what they're
53. 1:28actually buying and then the sale
54. 1:30becomes much more real.
55. 1:34Pretty good answer, my friend.
56. 1:35Um
57. 1:36and of course their position in the
58. 1:38marketplace by the way is going to be
59. 1:39this guy's this you know single guy, we
60. 1:41have an established track record, we've
61. 1:43been doing this for 80 years, we've got
62. 1:45hundreds of customers in your specific
63. 1:46market, we know what's going on, we know
64. 1:47best practices and our processes is why
65. 1:49we have the business at the size is
66. 1:50because we are good at what we do. This
67. 1:52guy is unproven and so if you want to
68. 1:55some guy in his mom's basement who's
69. 1:56claiming to be an expert, go for it,
70. 1:58right? Each of you has a different angle
71. 2:00and it just depends on
72. 2:01>> If you like this video and you're
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84. 2:20enjoy.