Companion Selling Part 11: Honoring the Budget
In our example, the prospect has decided to forego the lighting and shade control, and stick with the rest of the components. Together, you agree to an $80k budget.
Budget is Not Ability
A prospect’s budget has little relationship to his ability to buy. It’s just a number concocted to represent the value he’s assigned to your services. Should you increase the value of your services through education, his budget may very well go up. But if you add no value, the budget stays fixed in stone.
Companion Selling requires you to honor the prospective client’s budget not because it’s the final price for the system, but because it represents the client’s ability – and not yours – to assign a value to a system. Accepting the budget is your way of being respectful.
Using the Performance List is your tool to either reduce the functionality of the system to meet the budget, or to increase the budget as they decide to add more value to their system.
In both situations, you’ve removed the antagonistic “us vs. them” relationship and maintained your status as a consultant, and not an old-timey salesguy. Remember: There is no fixed “Budget.” There’s only “Value For Performance.”
Next Month: Creating Desire by Being Creative
Ira Friedman (Ira@BayAudio.com) is president of Bay Audio, a provider of high-performance speaker systems for custom installation. Companion Selling® is a trademark of Bay Audio, LLC. The Bay Audio Guide to Companion Selling, an $80, 100-page hardcover book describing the complete Companion Selling strategy, is available on Amazon. These columns are excerpted from the book, published in 2007. Bay Audio conducts 3-day Companion Selling Seminars. If you are interested in attending call 858-486-5040.