He Lost $35.1 Billion… Feather, Brick, House

(Take the poll after you read the posting.)

Feather, brick, house. 

Life sends us reminders, clues and ‘hidden signals’ in three stages.  

First, we are tickled by a ‘feather’.  We may barely notice, yet it’s often not enough to change our path.

Second, a ‘brick’ is dropped on our foot.  It hurts, it gets our attention, but for those who wish to ignore it, life can go on seemingly unchanged. 

Third, a ‘house’ is dropped on our heads.  The rest is history.  Too late.  Sorry.  There is no next time. 

Wall Street Journal highlighted a story today about a ‘brick’ for one man, Sheldon Adelson.  Long story short: Sheldon owned a substantial stake in the casino industry, which has been hit big time by the changing economy.  Sheldon has lost approximately $35.1 Billion in the past 12 months (yes, with a “b”).

Sheldon Adelson

Let Sheldon Adelson’s story be a ‘feather’ for you.  And with today’s economic crisis, this reminder might also be your ‘brick’.  My point, take action on this, don’t sit around.  The ‘house’ might be coming for many small business owners.

So, what is the reminder?  Let’s look at this… 

Why do people stop spending money at casinos during a turbulent economy? Simple of course: they know that they are losing money, and in uncertain times, people are less likely to spend money when they know that the odds say they are sure to come out with less, in the end. 

So what is the important reminder? Here it is.  This is sales 101, but it’s going to become Sales Survival training if you don’t already put this idea to work in your marketing material, sales presentations, and every communication that touches your customers:  

The easiest thing to sell always has been and always will be “money at a discount”.  (On November 25th, I’m running a call on Becoming Wealthy During Turbulent Economic Times, no charge, and this is one of many topics that will be shared on what MUST happen NOW, to survive and even thrive regardless of economy.)

What does this mean?  

It means that when the sky is falling, people are scared, money is slowing down – people will still spend and continue to spend what they do have left, as long as they perceive the expense as something that will return a profit.  

Sometimes it is direct, sometimes indirect, how your service creates a profit for somebody else. 

Sometimes it is immediate; sometimes it is a long term profit.  

Sometimes it is money, other times it is energy or time that can be counted as “profit”, especially when selling to businesses.

The tree specialist should offer regular tree maintenance while using probabilities, proven examples, horror stories of those who did not heed her advice, and with the conviction of somebody selling home, life or auto insurance, that the maintenance package will likely save more money than the home owner will pay if a disaster struck.  If you are really good, peace of mind is also a form of profit. 

An auto repair company told me this week that $2800 invested into routine maintenance today will potentially save me over $1,000 (above the $2800) in more repairs in the future.  He could have pushed this even harder, but I still bought, because money now was perceived to save me money in the future.  

Again, showing somebody that your product or service will save them from spending even more in the future, is the same as ‘money at a discount’, today. 

How does your product or service save somebody time or energy?  For most business people, this can quickly and easily be translated as saving money in your marketing message or sales presentation.  

How does your product or service save somebody money?  Can you show them that it will actually put back more in their pocket than they are originally investing?  

Can you point out that the potential financial risk of not using your service or product is significantly greater if an emergency, disaster, or worst case scenario were to occur, vs. if they invested much less now to insure future mental certainty and peace of mind?

You get the idea. 

Hoping you enjoyed this ‘feather’…

Jon Berghoff

Jon Berghoff is the founder of Global Empowerment Connection.  GEC has a history of creating sales, leadership, and entrepreneurial success through ‘harmonic influence’ over ourselves, others and the world.  Subscribe to Insights on Influence, our free e-zine at www.geconnection.com. 

Tags: economic crisis, Leadership, Sales, success