Podcasts > Creating Confidence with Heather Monahan > Confidence Classic: Lead with Curiosity and Confidence with Master Interviewer Cal Fussman

Confidence Classic: Lead with Curiosity and Confidence with Master Interviewer Cal Fussman

By Heather Monahan

In this episode of Creating Confidence, Heather Monahan and Cal Fussman explore how sales professionals can adapt their strategies for virtual environments. They share their experiences transitioning from in-person to digital operations, covering topics like pricing structures for virtual services, negotiation tactics, and ways to leverage podcasts and virtual events as tools for building trust and creating business opportunities.

The discussion delves into practical approaches for building confidence in virtual selling, including the effective use of testimonials and the importance of maintaining strong pricing positions. Monahan and Fussman address common concerns about technology adoption and discuss strategies for converting podcast audiences into business opportunities through mentoring programs and workshops, while emphasizing the value of strategic partnerships in the virtual landscape.

Confidence Classic: Lead with Curiosity and Confidence with Master Interviewer Cal Fussman

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Confidence Classic: Lead with Curiosity and Confidence with Master Interviewer Cal Fussman

1-Page Summary

Adapting Sales Strategies For a Virtual Environment

As businesses shift to virtual operations, professionals Heather Monahan and Cal Fussman share their experiences adapting sales strategies to the digital landscape. They discuss leveraging podcasts and virtual events as powerful tools for building trust and creating business opportunities. Both emphasize the efficiency of virtual communications, highlighting benefits like time savings and broader global reach.

Pricing, Negotiating, and Pitching Services

Monahan stresses the importance of leading with certainty when pricing services, noting that keynote speaking fees can range from $5,000 to $500,000. Fussman shares his experience transitioning from in-person rates of $15,000-$20,000 to virtual engagements. Both experts emphasize starting negotiations with higher prices and focusing on value rather than client budgets. Monahan suggests asking clients about their budget constraints and creating customized solutions that maintain professional worth while meeting client needs.

Mindset and Confidence Building

The speakers emphasize the importance of leveraging existing expertise and testimonials to build confidence in virtual selling. Monahan advises professionals to regularly update testimonials, particularly on LinkedIn, and reframe selling as genuinely helping clients. Fussman discusses overcoming initial technology fears, while Monahan emphasizes the importance of eliminating weak language and confidently tackling technical challenges.

Leveraging Existing Networks and Audience

Both speakers discuss maximizing podcast reach and influence through virtual products and services. Monahan suggests converting podcast audiences into business opportunities through mentoring programs and workshops. They emphasize the value of partnerships, with Monahan sharing how collaborating with experts, like a Harvard professor, can create new virtual programs. Fussman highlights the importance of generating leads and making sales calls in the virtual landscape.

1-Page Summary

Additional Materials

Counterarguments

  • While leveraging podcasts and virtual events can be effective, they may not be suitable for all types of businesses or industries, and some clients may still prefer traditional in-person interactions.
  • Virtual communications can save time and have a global reach, but they can also lead to digital fatigue and may lack the personal touch that can be crucial in building strong relationships.
  • The wide range of keynote speaking fees suggests a market with significant variability, which may not reflect the actual value or quality of the services provided.
  • Starting negotiations with higher prices might risk alienating potential clients who perceive the initial quote as out of their range, potentially leading to a loss of business opportunities.
  • Customized solutions are beneficial, but they require more time and resources to develop, which may not always be feasible for smaller businesses or those with limited staff.
  • While leveraging existing expertise and testimonials is important, it can also create an echo chamber that may prevent professionals from adapting to new trends or feedback.
  • Regularly updating testimonials on LinkedIn is good practice, but it may not always translate to increased sales or confidence if the testimonials do not resonate with the target audience.
  • Reframing selling as helping clients is a positive approach, but it must be genuine; otherwise, it can come across as manipulative or insincere.
  • Overcoming technology fears is important, but assuming everyone can easily do so may overlook the real challenges some individuals face with adapting to new technologies.
  • Leveraging existing networks and audiences assumes that there is already a substantial following, which may not be the case for new or smaller businesses.
  • Converting podcast audiences into business opportunities can be effective, but it also assumes that the audience is engaged and willing to transition into paying customers.
  • Collaborating with experts to create new virtual programs can be beneficial, but it may also lead to over-reliance on external expertise rather than developing in-house capabilities.
  • Generating leads and making sales calls are important, but in a virtual environment, it can be more challenging to establish trust and rapport without face-to-face interaction.

Actionables

  • You can start a simple referral program among your personal network to promote virtual events or services you trust. Explain to your friends or colleagues how these events or services have benefited you and offer them a unique referral code or link. This can be as simple as a discount code for a virtual course you've taken or a free trial for a service you use. By sharing these with your network, you're providing value and potentially earning rewards or recognition from the businesses you're supporting.
  • Create a personal feedback loop by asking friends or family to listen to a virtual presentation you've prepared and provide honest feedback. This could be a short talk on a topic you're passionate about, delivered over a video call. Use their feedback to refine your communication skills and build confidence in your ability to sell or present virtually. This practice can help you understand the nuances of virtual communication and improve your ability to engage an audience.
  • Develop a habit of writing down the unique value you or a product you like offers after every purchase you make. For instance, if you subscribe to a new software, jot down what specific problem it solves for you and how it does so better than other solutions you've tried. This exercise will train you to think in terms of value, which is essential when negotiating prices or selling virtually. Over time, you'll be able to articulate the value proposition of services or products more clearly, which is a transferable skill in any business context.

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Confidence Classic: Lead with Curiosity and Confidence with Master Interviewer Cal Fussman

Adapting Sales Strategies For a Virtual Environment

As the pandemic shifts the way businesses operate, sales strategies must adapt to a predominantly virtual environment. Professionals like Heather Monahan and Cal Fussman showcase how they pivot to maintain and grow their audience and customer base.

Utilize Virtual Channels and Speaking Opportunities to Reach Audiences

Use Podcasts & Virtual Events to Connect & Sell

Heather Monahan identifies podcasts as massive opportunities for connection and trust. She sees monetizing these platforms as a quick way to convert into business opportunities. Virtual summits have also become a way to engage with company employees when traditional speaking rates may be lower due to economic circumstances.

Cal Fussman adds that despite technological glitches, the transition to virtual events is essential. He emphasizes the efficiency of virtual communications over traditional in-person meetings, highlighting time-saving measures and wider global reach as key advantages.

Generate Revenue With Virtual Workshops, Coaching, and Seminars

With the disruption of typical business practices due to the pandemic, there has been a shift to online events. The crisis led to new initiatives like mentoring programs, online coaching seminars, and masterclasses, which now constitute a multi-billion dollar industry. Monahan discusses diving into seminars and the virtual world to evolve her business and generate revenue through workshops and seminars.

Develop a Virtual Sales Process and Infrastructure

Use Paypal and Shopify for Seamless Virtual Transactions

For processing credit card payments virtually, two options are suggested by Heather Monahan. The first is using PayPal, which allows easy setup, direct invoicing, and seamless transfers to bank accounts at no extra cost. The second is using a Shopify account to create a landing page where offerings are displayed, process transactions, and provide valuable data analytics.

Create Virtual Setup For P ...

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Adapting Sales Strategies For a Virtual Environment

Additional Materials

Counterarguments

  • While podcasts and virtual events can be effective, they may not be suitable for all types of products or services, and some businesses may find better success with other marketing strategies.
  • Virtual summits and events can sometimes lack the personal touch and networking opportunities provided by in-person events, which can be crucial for building strong business relationships.
  • The efficiency of virtual communication can vary depending on the industry and the nature of the sales process; some complex sales may benefit from in-person interaction.
  • The shift to online events and virtual workshops may not be sustainable post-pandemic as people may experience virtual fatigue and prefer in-person experiences.
  • The multi-billion dollar industry of online events is competitive, and not all businesses may be able to successfully penetrate this market or generate significant revenue.
  • Using PayPal and Shopify, while convenient, may not be the best fit for all businesses, especially if they require more customized or integrated payment solutions.
  • Seamless virtual transactions can still face issues such as fraud, chargebacks, and technical problems that can affect customer trust and satisfaction.
  • The use of targeted email campaigns must be balanced with concerns about privacy and the potential for being perceived as spam, which can damage a brand's r ...

Actionables

  • You can enhance your virtual sales skills by practicing with a friend over video calls to simulate a virtual sales environment. Set up scenarios where you pitch a product or service, and your friend plays the role of a potential client, providing feedback on your approach, body language, and use of digital tools to make the sale more engaging.
  • Create a personal brand by starting a blog or YouTube channel focused on a niche you're passionate about, using this platform to connect with an audience and practice selling ideas or products. This could be anything from book reviews to DIY crafts, where you not only share content but also learn to engage viewers and potentially monetize your passion through affiliate marketing or sponsored content.
  • Exper ...

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Confidence Classic: Lead with Curiosity and Confidence with Master Interviewer Cal Fussman

Pricing, Negotiating, and Pitching Services Effectively

Professionals like Heather Monahan and Cal Fussman share insights on how to price, negotiate, and pitch services to clients while ensuring they don't undervalue their offerings.

Lead With Confidence and Certainty in Pricing

Heather stresses the importance of leading with certainty so potential clients recognize the necessity of the services being offered. This approach discourages clients from feeling uncertain and looking elsewhere for services. Heather mentions market research is crucial, providing the range of $5,000 to $500,000 for keynote speeches, which helps professionals like Cal Fussman set reasonable prices by understanding the broad market range. For example, Cal knew his rates for speaking engagements were around $15,000 or $20,000 but felt uncertain about pricing for virtual engagements, where he heard rates were about $2,000 to $3,000.

Research Industry Pricing Benchmarks to Set Appropriate Rates

While there is no specific guidance given on researching industry pricing benchmarks, Heather's mention of a keynote speech range indicates that having solid market data is essential for setting appropriate rates. Heather also underscores the significance of not undervaluing services, as demonstrated when her mentoring program, priced too low, sold out immediately.

Highlight Your Unique Value and Expertise, Not the Client's Budget

Heather and Cal discuss the importance of emphasizing one's unique value and expertise rather than focusing on the client's budget. Cal recounts how he learned to assert the value of his experiences with world leaders in his pitch, helping clients see the relevance of his services to their challenges.

Negotiate Strategically to Maximize Revenue

Start Higher to Allow Room For Negotiation

When negotiating, starting with a higher price point allows for flexibility. For instance, Cal speaks of a time when a client expected to pay more than he had quoted, suggesting he might not have valued his services adequately, a sentiment Heather agrees with. Monahan reinforces this by advising to start negotiations high since it's always possible to negotiate down, a lesson she learned after initially setting her prices too low.

Identify Budget and Constraints, Propose Customized Solution

Heather recommends asking clients for their budget when they indicate a price point is more than they anticipated. She recounts an instance where she used knowledge of a previ ...

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Pricing, Negotiating, and Pitching Services Effectively

Additional Materials

Counterarguments

  • While leading with certainty can be effective, it's also important to be flexible and listen to client needs, as overconfidence can sometimes be off-putting or interpreted as inflexibility.
  • Market research is essential, but it should be complemented with an understanding of one's unique value proposition, which might justify prices outside the established range.
  • Setting rates based on industry benchmarks is a good starting point, but professionals should also consider their own experience, costs, and the specific value they bring to each client.
  • Emphasizing unique value is important, but one must also be mindful of the client's budget constraints to ensure proposals are realistic and negotiations can lead to a successful agreement.
  • Starting negotiations with a higher price can provide flexibility, but it can also risk alienating clients if they perceive the initial quote as unreasonable or out of their budget.
  • Proposing customized solutions is beneficial, but it requires a careful balance to ensure that the customization does not lead to scope creep or undercharging for the additional work and value provided.
  • Discount codes can be a compassionate strategy, but they must be managed carefully to maintain the perceived value of the services and to ensure that discounts are not expected or taken for ...

Actionables

  • You can create a "certainty journal" to track the moments you felt most confident in your decisions, noting the outcomes and feedback received. This practice will help you identify patterns in your decision-making process that lead to successful results, reinforcing your ability to lead with certainty. For example, if you notice that you're more decisive and effective in client meetings after a morning workout, make that a regular part of your routine.
  • Develop a "flex-rate" pricing model for your services, where you establish three tiers of pricing based on different levels of service or value provided. This allows you to start negotiations at the top tier and gives you the flexibility to move to lower tiers if necessary, without compromising your value. For instance, your top tier could include additional follow-up consultations, while the lower tiers might offer the basic service without the extras.
  • Start a confidence-building challenge with a peer or mentor ...

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Confidence Classic: Lead with Curiosity and Confidence with Master Interviewer Cal Fussman

Mindset and Confidence Building

Heather Monahan and Cal Fussman discuss strategies for mindset and confidence building, focusing on leveraging existing expertise and overcoming mental blocks related to virtual selling.

Leverage Your Existing Expertise and Testimonials

Reflect On Client Impact and Value Delivered

Heather Monahan advises Cal Fussman to read his testimonials and reviews, emphasizing the importance of remembering the value he has delivered to others. Reflecting on client impact can bolster confidence and remind professionals of their expertise.

Use Testimonials and Success Stories to Showcase Capabilities

Monahan plans to ask for testimonials after events and highlights the significance of regularly updating testimonials and reviews, notably on LinkedIn. This not only boosts a professional's visibility but can also help convert viewers into customers by showcasing one’s capabilities through success stories.

Overcome Mental Blocks and Fear Around Virtual Selling

Reframe Selling to Genuinely Help and Support Clients

Monahan talks about moving through fear since being fired, instructing techniques to overcome mental blocks around virtual selling. She urges Fussman to reframe his selling mindset to focus on genuinely helping and supporting clients, which can instill confidence and certainty in the ability to deliver value. Further, Fussman acknowledges the need to assertively offer his help to those struggling with brand storytelling, and Monahan suggests focusing on how to increase clients' revenue as a means of sincere service.

Develop Fluency With Virtual Communication Tools and Technology

Fussman talks about his initial technophobia, detailing challenges like setting up email. Monahan acknowledges the universal need for people to rely on consistent support, such as regular podcast episodes. She also stresses the importance of de ...

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Mindset and Confidence Building

Additional Materials

Counterarguments

  • Reflecting on client impact and value delivered may not always boost confidence if past successes are not indicative of future performance or if the professional is facing a significantly different challenge.
  • Testimonials and success stories can be helpful, but they may not always be representative of the full range of a professional's capabilities or experiences, and over-reliance on them can lead to complacency.
  • Reframing selling to focus on genuinely helping clients is a positive approach, but it may not address deeper issues of self-doubt or imposter syndrome that some individuals experience.
  • Developing fluency with virtual communication tools is important, but it may not be sufficient for overcoming all challenges related to virtual selling, such as building rapport or reading non-verbal cues.
  • Eliminating weak language can make communication appear more powerful, but it may also come across as overly assertive or inauthentic if not balanced with empathy and active listening.
  • Learning from failures is crucial, but it can be difficult to pinpoint what exactly needs to be learned ...

Actionables

  • Create a personal impact journal to track the positive outcomes of your work. Start by jotting down the effects your actions have on clients or colleagues each day. This could be as simple as a client expressing satisfaction with your service or a colleague benefiting from your assistance. Over time, this journal will serve as a personal testament to your value and boost your confidence.
  • Set up a peer feedback system in your network. Reach out to friends, colleagues, or online communities and propose a regular exchange of constructive feedback on communication skills, especially in a virtual setting. This will help you identify and eliminate weak language from your conversations and presentations, making your communication more impactful.
  • Organize a "tech buddy" system amo ...

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Confidence Classic: Lead with Curiosity and Confidence with Master Interviewer Cal Fussman

Leveraging Existing Networks and Audience

Cal Fussman’s 'Big Questions' podcast and Heather Monahan’s influence exemplify successfully leveraging networking and audience to maximize reach and influence.

Maximize Your Podcast's Reach and Influence

Monahan and Fussman illustrate the potential of podcasts as platforms to extend professional reach and create new business opportunities.

Pitch Speaking, Coaching, and Content Opportunities

Monahan invites her listeners to check out Fussman's podcast, underscoring the power of leveraging network and promotion. Fussman himself has become comfortable enough to offer instruction in podcasting, identifying an opportunity for speaking and coaching. Moreover, through virtual events, participants can be asked for business connections to target for a customized class or experience, therefore, leveraging the event to pitch further speaking and coaching opportunities.

Monetize Your Podcast Through Virtual Products and Services

The speakers discuss adapting to revenue drops by launching mentoring programs or workshops, illustrating monetization of skills through virtual services. Monahan suggests that the podcast audience can be converted into business opportunities due to pre-existing trust relationships. Fussman also sees individual one-on-one help as a potential avenue for monetization, and Monahan encourages him to solve a problem for his audience to elicit emotions and convert listeners into clients.

Tap Into Complementary Networks and Partnerships

Strategies to augment reach by connecting with external networks and creating partnerships are discussed, showcasing how these relationships can provide valuable collaborative opportunities.

Co-create Virtual Programs and Events With Experts

The speaker’s co-creation of a workshop with a Harvard professor serves as a prime example of utilizing partnerships to offer new virtual programs. They suggest using existing business connections to create ...

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Leveraging Existing Networks and Audience

Additional Materials

Counterarguments

  • While leveraging networks and audience can be effective, it's not a one-size-fits-all strategy; some individuals or brands may not have the type of engaged audience that easily translates into business opportunities.
  • Podcasts can indeed extend reach, but the market is saturated, and not all podcasts will gain significant traction or lead to business opportunities without a unique value proposition and high-quality content.
  • The effectiveness of leveraging networks for speaking and coaching opportunities can vary greatly depending on the individual's expertise, reputation, and the relevance of their content to their audience.
  • Monetizing skills through virtual services assumes that there is a market demand for those services, which may not always be the case.
  • Creating partnerships and co-creating programs with experts can be beneficial, but they also require alignment in goals, audience, and content, which can be challe ...

Actionables

  • You can start a niche-focused networking group on a social platform to connect with like-minded professionals and create a space for collaboration. By choosing a specific industry or interest, you can attract individuals who are looking to expand their professional network in that area. For example, if you're passionate about sustainable fashion, create a LinkedIn group or a Slack channel dedicated to connecting people in that field, which can lead to joint ventures or shared business opportunities.
  • Develop a mini-series of webinars or online workshops that address common challenges in your field, inviting experts to co-host. This not only positions you as a resourceful connector but also allows you to learn from the experts you invite. For instance, if you work in digital marketing, you could organize a series on the latest trends in social media advertising, bringing in specialists to provide insights and potentially collaborate on future projects.
  • Offer to facilitate virtual i ...

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