How To Generate New Business (almost) On Autopilot With ‘Safer’ Risk-Reversal
This advanced risk-reversal formula can generate a stampede of powerful repeat business almost on autopilot.
If you are in marketing or sales, or are an entrepreneur or business owner, the advice I was given below over 20 years ago is as powerful now, if not more so, than it was back then.
At it’s most basic form. this marketing strategy is known as…
The Holy Grail Of Marketing
And I can amost guarantee that most if not all of your competitors have not used this strategy in this way before, which now gives you a huge advantage…
- Get Influencers on board who can get you repeat and profitable business
- “Knock them off the fence” by reversing the risk.
- Rinse and repeat
When you combine these 3 strategies together, it is called:
The Barefoot Risk Reversal Power Formula For High Profit Business
This is a longish post. But it is worth the small amount of time it will take to fully absorb the impact this can have.
However by the time you have finished reading thsi post, you will be able to action a strategy that the Nielsen report reckons is the most effective way to generate new business there is…
… in a unique and even more powerful way.
And most likely, your competitors are not doing this themselves, which will give you a huge competitive advantage.
It will help you:
- better quality, nore profitable leads
- a stampede of new leads from influencers who already have a need for what you provide
- drastcially lower costs to get the right clients in
- become THE go-to person in your niche or industry for what you do
This is an advanced strategy that is proven to get results. It is also the thing that when we don’t embrace it, can keep us stuck for months, or even years, struggling to get the business we know we deserve.
Relationships build trust for you
Business Is All About Relationships
You’ve heard it before I am sure.
When you get the right people giving you business, everything changes for the better
Getting influencers on board who can give you repeat business time after time after time is the kind of stuff that can transform your business literally almost overnight.
When you know how to apply this formula to your own business, it can to what legendary copywriter and marketer Gary Halbert calls:
“ Knock them off the fence”
Risk reversal correctly actioned ,can knock your own clients (influencers) off the fence; get them to make the best decision, to buy from you, or to use you on a repeat basis…
Risk reversal puts any deal beyond your clients or influencers taking any risk in using you (because you have put it beyond any risk)
Providing the clients fit your ideal profile, that is what we all want isn’t it?
More clients? Better clients? To come to us?
“As soon as you open your mind to doing things differently, the doors of opportunitypractically fly off their hinges”
20 Years ago I am sitting with a lovely lady on a personal development course. It was a ‘releasing technique’ we had both been using to lower stress and anxiety levels ( I used to have loads!), as well as to help clear blocks to different goals we both had.
I had been doing this particular technique for quite a bit longer than Mechtild had, but used to go along, as it was a great way to work on myself and also help others out who were new to the technique.
Mechtild was a great teacher. A really genuine person who cared deeply about the results her clients got. She got great results from her students. She has testimonials growing out of her ears.
So one day, she asked me.:
“ Steve, how can I get more people on the retreat course. …. I can’t seem to get people onto the course for some reason”
Simple I said…
“What’s that?” She asks
I then explain it is how you try and remove the boundaries to people doing business with you, who might be ‘thinking about it’ but aren’t quite sure yet.
You take on the risk of it ‘not working’ or, it ‘not being right’
What you do is you define the results that they can expect and guarantee it basically.
However -Mechtild objects immediately.
“ But you know you cannot guarantee definitive results in this kind of work. It is impossible.”
“I agree in part” I say
“However, only part…”
“You CAN guarantee improvements. And the way you can do that is my measuring whatever it is they are working on in the beginning and the end.
You and I both know you will get big improvements and often people coming out of the weekend feeling completely changed.”
“Sure”, she says, “but how do I monitor it?…
What happens if someone takes advantage … I wouldn’t feel comfortable at all doing that”
This seems to be a BIG objection for a lot of business owners.
Now before I handle this objection, and continue with the story … allow me to explain something first:
How do you think people feel when they are about to make a decision about buying from you but haven’t yet made it?
Normally, they are in a mild (or major!) form of fear.
So our J.O.B. is to take them away form fear…
…and move them up into courage.
In other words, courage to try your product or service and enjoy the results you will give people.
When you remove the fear to buying, you get more buyers. Simple.
Yes, you do get the occasional ‘oik’ who takes advantage.
They are few and far between though compared to the avalanche of new business you stand to get by helping people make the right choice…
“ help make it easy for people to make the right decision…to buy your product or service”
How I Discovered ‘Outrageous’ Risk Reversal
I was sitting in a seminar with Jay Abraham, his trusted advisors and hundreds of entrepreneurs and business owners when Jay told me about this concept of Risk Reversal,
It simply made sense to me.
Make it easy for people to buy. Take away the risk.
So after the seminar, next day, I went out to see if I could get some big influencers on board using this strategy.
The more outrageous you can make the risk reversal strategy is, the better it is perceived, which I explain further in.
And if you can name the strategy a name which is unique to you, so much the better.
Here is a slightly unorthodox risk reversal strategy that made me and my company a lot of money. And it can do for you too…
My Own Very Unorthodox (advanced) Risk Reversal Strategy
Through getting personal introductions (referrals) I went out to meet influencers that could give us business, by offering them introduction fees for every client they refer to us.
At the time, I called my Risk Reversal Guarantee the ‘Concepts Risk Reversal Guarantee’ (because the business name had the word concepts in)
Risk Reversal Dialogue
“I am so confident” I said
“ That you and your clients will love the results, that I am willing to give you 2 cheques for the average order value, simple for trying us.
Simply refer us 2 of your clients. When we have done business with them each one of them, we will ask you to cash your cheque. No strings attached. You get to bank the cheque, no matter what the order value.”
The value of these cheques? £200. Approximately worth $550 over 20 years ago…
I carried on…
“ If you don’t see any difference, or, you or you clients are not delighted, cash the cheques with our blessing as a thank you for trying us anyway”
“Also, we offer a longer all inclusive guarantee to your clients that you refer to us. If they are not delighted with what we have done, they don’t pay a penny. Nothing at all. Again with my blessing.”
Now most people thought that this was suspicious…
Who in their right mind would do this?
Put themselves at such risk?
My friends, colleagues and influencers thought I was a lunatic!
But I wasn’t putting myself at risk at all
… and…. I knew it almost for certain!
I knew approximately how much business these influencers were generating a month
- I knew how much business on average we were likely to get from them
- I knew most influencers would stay with us for years. (lifetime value)
- I knew how long it would take us to break even
Because these influencers we were personally introduced, the likelihood of being taken advantage of was slim…
Because if they did take advantage of us,:
“others would probably find out. And nobody likes someone who is out for what they can get.”
I also knew.
- How much money (profit) we were likely to make
- What the worse case scenario is if we don’t make any money off a client
Here Is The Financial Proof
The cheques I gave these influencers over 20 years ago was £200 each (then around $550).
It took me 2 months on average to get my money back in profit
I then incentivised these people to give me business (ethically) and gave them 10% of the gross of every job they referred to us.
We held on to nearly all these influencers for an average of 5 years or more
So it took 2 months to break even.
Then every 2 months, we made a minimum of £200 extra per client per month
And we had loads of these clients. We nailed a complete region of influencers this way and took the lion’s share of the best business in out niche.
Credibility and Trust
Because we were referred we had credibility and trust. We became the go-to company in our niche, so I then decided to raise our prices by 20% overnight.
If I had the operation skills to scale quickly we could very quickly and easily gone national this way, for next to zero risk…
but sadly my skills that way back then definitely lacked.
The outcome of this advanced risk reversal strategy?
No loss of influencers – no loss of business we were quoting for.
Meaning every influencer we got on board stayed for a decent amont of time… nobody was trying to take advantage of the offer.
Apart from all this extra money we were bringing in, we then ALSO became 40% more profitable overnight. Literally. (Due to this 20% gross price hike i talked about above.)
One of these influencers was considered an authority. They didn’t want any introduction fees. This means this particular client, John Lewis, ( and quite a few other clients) cost us zero to get high value new business in.
- No advertising costs
- No cost cutting requests from the people they referred
- No sales people to pay.
- Whilst everyone was spending more and more money advertising, we were charging more and getting more and more referred new business.
- WouYe never had to try and find the business..
- Business lands in our lap.
- People rarely haggled with you, because you are already trusted because of the referral from a trusted source,
That authority and influencer I spoke about above?
Made us over £1m (approx. $2.5m) over a 20 year period.
I am not saying this to brag or for you to think ‘how clever I am’
Because … I am not!
I simply removed the fear to working with us
And I removed the fear in 2 different ways.
- The influencers’ perspective and…
- The new clients we were introduced or referred to.
When you remove the risk to working with influencers and remove the risk to their own clients they can then safely refer to you to others…
…it is like taking the breaks off a ‘money train’.
It is almost unstoppable
As you use this strategy more and more, it builds momentum really quickly
Very soon you start to become the go–to person in your own niche.
Mechtild’s Story continued…
Mechtild never did find the courage to try risk reversal.
Most likely, coincidentally (or not) , she never got more than 3-10 people’s “bums on seats” for her weekend retreats, in spite of being brilliant at what she does.. So that business fizzled out.
In spite of her being an exceptionally authentic and brilliant person at what she does – she failed. Which is a shame because she could have made so much more of a difference and made much more of an impact, had she embraced this strategy in a way that fitted in with her.
And that is very sad in my eyes…
You & Risk Reversal
What can you remove the risk from
- Their clients
- How can you incentivise them
These kind of high level influencers who can generate a lot of business, andare worth their weight in gold for you. They are hard to come by.
However when you have your own unique risk reversal and incentivised strategy and then ger refereed business
You are almost guaranteed an enormous amount of new business
I call the risk reversal strategy below the Risk Reversal Power Formula
Why power formula?
Because you are targeting influencers who can get you repeat business. Over and over and over again. Often for year for proportionally tiny fees…
And at a massively reduced cost to you.
Proven Risk Reversal Formula
This is a proven formula that out-and-out works incredibly well.
I have used this strategy extensively in my own businesses. It has been so effective, that I barely ever did any lead generation at all.
Business simply came to me off the back of the influencers I have built relationships with…
… because I “knocked them off the fence”
and made it a no-brainer to work with me. Or at least, try me out.
My only assumption here is that you want the best for your clients. This is essential for this formula to rain profit for you.
Risk Reversal Power Formula – Safer Risk Reversal
The key to this formula working is knowing what you stand to gain or potentially lose. This way when you cativate the formula you will be doing so from a place of very strong probability of succcess.
Profit from this formual for yourself for free
Download (for FREE) this formula here
This is a simple 2 part formula that is proven to increase the amount of clients who are likely to say “YES” to your offer.
In this free download I show you the safer way to create risk reversal
So you can profit from:
- More clients and customers saying yes
- Higher profit margins
- All for less time and effort on your behalf
now your turn…
if you had vaue out of this post, please comment below.