Today’s guest is Jeffrey Shaw, an entrepreneur who’s been selling the intangible and has worked with several individual entrepreneurs, coaching them, and helping those with service-based businesses to be able to sell intangible products.
Jeffrey has been a portrait photographer for over 31 years serving a very affluent clientele until seven years ago when he began his process of training as a coach and his career has now grown tremendously.
He realized it wasn’t the tangible photograph that he was selling but it was so much more than that. It was the intangible things!
Here are the highlights of my conversation with Jeffrey:
Intangible things a brand could be selling:
Why Jeffrey thinks Apple is selling space:
Why several companies have a tough time selling the intangible:
It’s not a common business model. Most business education is based on selling tangible items and commodities. More people are selling the intangible with little example of it and little business education.
However, the intangible is what motivates people to buy. For instance, you may sell an art but the reason somebody buys that art is because of the way it makes them feel.
Best practices to sell the intangible:
Really understand the people that you serve, what their real needs and values are. Then you can speak to them in their language. This way, you can do things for your clients before they even ask.
The power of stories when selling the intangible:
Authentic voice + 10%
Selling the product vs. service – which is more difficult to sell?
Jeffrey’s Major Takeaway:
If you had four minutes to cut down a tree, spend three minutes sharpening the saw. Spend a disproportionate amount of time getting to know your clients, what they value, and their lifestyle. All of that is part of sharpening the saw so when you go into business, you’re aligned with the people you’re going to serve. Take the time to sharpen your saw.
Check out Jeffrey’s first online business training and coaching program, The Creative Warrior Unleashed, which was more than a year in the making. It is a 6-month program with weekly coaching involved to provide support in the process.
Take the 7-day online mini-course Week of the Warrior for free by going to www.weekofthewarrior.com.
Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.