Do you know the main reason why you’re being ghosted by clients? According to host May Yeo Silvers it has to do with “hidden” numbers. So in today’s episode, she dives into into the challenges posed by hidden budgets, explores their significance in aligning expectations, and emphasizes the need for genuine conversations.
Clients are like poker players- they keep their money close to their chests, especially when it comes to initially discussing their budget. And unfortunately, not knowing your potential client’s true budget can prevent you from closing the sale particularly if they have champagne taste on a beer budget. But unlocking the secrets behind their budgets is the key to success. Even though it can be uncomfortable to discuss money initially, you want to have a full understanding of what your client wants and how much money they have to spend. By aligning your proposals within your clients’ financial comfort zones, you are more likely to prevent any future ghosting.
By peeling back the layers of hidden budgets, we can prevent misunderstandings, enhance client interactions, and ultimately succeed in the art of sales. Avoiding discussions about costs can prevent effective communication, but engaging in real conversations upfront lays the foundation for mutual understanding and paves the way for trusting business relationships.
• “The main reason why your potential clients are ghosting you is probably because you don’t know their hidden numbers.” (03:57 | May)
• “What do I mean about the hidden numbers? We tend to have this tendency to ask, what’s your budget when we are talking to a potential client, right? Nine out of 10, they wouldn’t tell you what’s their budget because they are uncomfortable in telling you how much they want to spend because they don’t want to be labeled as cheap.” (04:04 | May)
• “They don’t wanna be labeled as someone who has a champagne taste and a beer budget. And they also do not want to go in back and forth arguing why they only have this much money. Or justifying why they can’t spend more, so they don’t want all this hassle and all this conflict, so they don’t tell you the truth.” (04:26 | May)
• “Because if you don’t find out what is that number and you quote a fee that is so far off from their set point of their budget, it would be very difficult for them to reconcile the idea, why do I need to spend that much?” (05:42 | May)
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The Unstoppable Eventrepreneur book is officially launched!!
This has been a labor of love for 2 years. This book summarizes all the business strategies and mindset that I apply myself in my events businesses and also teaches inside our Unstoppable Eventrepreneur mentorship program that have gotten several EVENTrepreneurs great results!
This book is a great representation of me, no fluff, only facts and truth. I hope this book gives event planners who want to turn their passion for events into a profitable business the blueprint of how to start and scale an events business and equip these EVENTrepreneurs with a REAL understanding on what it takes to be an Unstoppable EVENTrepreneur!
Here’s the amazon link to purchase the book. FYI, as it just got launched on 8/14/2023, it is still new in the internet world so it doesn’t show up when you search for the book on google and amazon, yet.
If you are an event planner and want to turn your passion for events into profit, or you know someone who is very talented in their craft for events and are considering starting an events business, refer them to get a copy of the book!
If you are ready to start and scale your events business and want to learn from someone who has already walked the path you are about to walk and has great results to show, schedule a call with me and we can chat about our 12 weeks Unstoppable Eventrepreneur Academy or our 12 months Unstoppable Eventrepreneur mentorship program is the right fit for you: https://chatwith.mayyeosilvers.com/aha-moment