High Margin Mindset

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High Margin Mindset

• Lessons Learned on Chris Lytles Tour of the
  Waterford Crystal Plant
• From The Accidental Salesperson
• By Chris Lytle

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Lesson 1

• Qualify your prospects for interest and money
  early in the sales process.
• Dont waste your time or theirs.
• Waterford 42 miles trip to the plant, down
  narrow Irish roads, and then pay ten bucks for
  tickets. Committed.
• Know what product or product line the prospect is
  likely to buy. Income, monthly payments, family
  size, motivation, etc.

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Lesson 2

• Let your prospects know early that you have
  worked with other prestigious clients. People
  feel more comfortable when they know other smart
  buyers have recognized quality.
• I bought my first project to build company
  resume.
• I bragged about my Fortune 100 and high profile
  clients (with their permission).
• Waterford NCAA Div 1 Football Trophy

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Lesson 3

• Tell stories about the founder and the vision.
  Dont just sell your product sell the people who
  are behind the product. This humanizes your
  company and adds value.
• Accessibility Consultants, Inc. Brochure.
• Waterford George and William Penrose, since
  1783. Five years of apprenticeship before
  blowing a commercial piece.

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Lesson 4

• Build value into the product at every stage of
  your sales or manufacturing process.
• Show your work. People appreciate how hard you
  work to meet their needs.
• Helps support price from cost basis.
• Waterford Cutting Room. Extensive pattern
  knowledge. Zero tolerance for error.

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Lesson 5

• Market the training your people go through and
  the standards to which they are held, not just
  your product.
• Its your people.
• ACI Brochure. 4 Masters/3 Top People Extensive
  experience in facilities HR
• Waterford Graduation Bowl (after 8 years of
  apprenticeship)

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Lesson 6

• Get people involved with your products. Let
  people in on some insider information that not
  every buyer would know to look for.
• I would share information from the Federal
  Register, or that I heard from talking with
  government officials. The Chairman of the EEOC
  said
• Waterford Find the seahorse logo.

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Lesson 7

• When you take people through every step in your
  process and build value into your product, price
  is no longer the key issue. Educated customers
  buy more confidently and spend more freely.
• I emphasized my training, all the work that I put
  into studying the law the standards. Service
  (city, state, professional orgs, etc.)
• Waterford See the tour, understand how long,
  hard, and exacting the process is, and so
  appreciate the product and accept the price.

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Lesson 8

• Your own facility is a powerful visual aid.
  Selling prospects on taking a tour is easier than
  selling them product. Selling them product is
  easier after theyve taken the tour.
• Chaparral Steel in Midlothian, TX
• Waterford People pay full retail price at the
  factory store and cant get enough.

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Accidental Salesperson Axiom

• Selling is teaching. Teaching is selling.
• Corollary
• An educated customer buys your value proposition
  whereas an uneducated customer buys on price.
• Dont skip steps in your sales process. Take the
  time to go through the process. It will lead to
  fewer objections, and result in less price
  resistance.

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HAPPY NEW YEAR