Why do some people gain levels of success so much higher than others?
Most of the time it’s due to the fact that they have a better philosophical strategy.
Successful businesses focus on their clients rather than themselves.
The story of instagram is one of my favourites.
So, instagram wasn’t the first app that Kevin Systrom and Mike Kriger created.
Kevin had the idea for an app called BURBN.It was a Location check-in app with a photo sharing feature.
They raised somewhere around 500 thousand dollars from some investors. It was a lot of money at that time.
Well, it’s still a lot of money today.
But even with this much capital they app failed to get a lot of users. They only had like 100 users. And that was it.
They started to get frustrated. And started to look for ways to change their situation.
Instead of to themselves asking “why is no one downloading our app?” They asked their existing users, “Why do you guys use BURBN in the first place?”
And almost all of their customers said they didn’t care about the location check-in feature they only used that app for the photo-sharing aspect.
So, after that Mike and Kevin realized that this Burbn thing isn’t going anywhere because no one can change that market.
And later on, they created an app called instagram which was later sold to facebook for 1 billion us dollars.
Great businesses approach everyone they deal with in a totally different and more effective way than anyone else does.
While their competitors are usually unable to figure out this strategy, it is one anyone in business can successfully employ by simply changing his or her focus from “me” to “you.”
Jay Abraham one of the top 5 executive coaches in Us calls this the Strategy of Preeminence.
The Strategy of Preeminence is simply putting your clients’ needs always ahead of your own.
When you master that your success will naturally follow.
It might seem unreasonable to put your client’s best interests ahead of your own.
But you need to understand that this is the reason why so many businesses fail.
The Strategy of Preeminence is a powerful yet simple strategy that can transform your business.
A Client, Not a Customer.
- Customer: A person who purchases a commodity or service.
- Client: A person who is under the protection of another.
I mean it’s fine to call them customers. But always think of them as clients.
If you are a businessman, your one and only objective should be serving them.
A person who is under the protection of another means that you don’t sell them a product or service just so you can make the largest one-time profit possible.
You must understand and appreciate exactly what they need when they do business with you.
Once you know the final outcome they need, you lead them to that outcome-you become a trusted adviser who protects them. And they have reason to remain your client for a lifetime.
Some companies even acquire their client’s at a loss. Because they know, if they become lifetime customers it will cover up all their losses.
For example,At WALMART the reason some things sell at a loss is to get people in the store.
Most TVs and other expensive items have no profit. Mostly sold at a loss.
But accessories like cables, remotes phone cases and other smaller items in the store may have up to an 80% markup. The price on Lunchables varies wildly.
Here they are not even trying to make them lifetime customers, it’s the followup purchases that gets them a nice profit.
In Jay Abraham in his book gave a really great example,
When a father comes into your store to buy his six-year-old son his first bicycle, what is he looking for?
What does he need?
Does he just want a bicycle?
No. He’s looking for one of the most joyful sharing experiences of a lifetime teaching his son how to ride a bicycle.
Just like his father taught him to ride a bicycle when he was six.
He’s looking for a memory that will last for the rest of his life and his little boy’s.
He’s looking for that once-in-a-lifetime moment when his son, smiling ear-to ear and speeding down the street, yells, “Look, Dad, I’m riding a two-wheeler!”
So, do you sell the father and his son the top-of-the-line, highest-profit-margin bike in the store?
Maybe, if that’s the best solution to your client’s problem.
But you definitely should tell the father that you’ve seen hundreds of dads come in to buy their child’s first bike and you know what a wonderful experience he and his son are about to have.
And possibly a less expensive model would be better for his son. It’s the little guy’s first bicycle and he may crash it into a tree or two.
You made the sale and you just became a trusted adviser to the father. The father realizes you didn’t just sell him a product.
You “protected” him. He became a client. In a couple of years his son will need a new bike.
Where do you think he’ll go to buy it? And at that point the upscale, high-profit-margin model might be the best choice.
Maybe the entire family will want bikes to ride together. And when the time comes for the little boy to buy his son his first bicycle, where do you think he’ll go?
Be a problem solver, not a problem bringer. Add value to every task you undertake.
Anyone, in any situation, who can look at you as a trusted friend who is providing a service that will benefit them in some way, will be more than willing to sing your praises to those who have the ability to advance your career.
Not just because you helped them. But also because they will want to continue to take advantage of the valuable service you provide them.
Falling in love with the product.
One of the biggest mistakes that people make in business is that they fall in love with their product.
You should believe passionately in your product, service, or company. But you should fall in love with your clients.
If you think your product is perfect, you will not see any imperfections. And this leads to asking the wrong questions. And that makes people take the wrong actions.
Most people think, “What do I have to say to get people to buy?” Instead you should say, “What do I have to give?”.
So yeah, don’t do that.
Mastering the Strategy of Preeminence is really the understanding and having the utmost respect for human nature.
Start by observing how you go about making decisions.
We all know that, you want to feel good about yourself and the decisions you make-in business or just in everyday life.You want to look smart and feel like you’ve done the best you can.
But we are not always sure what the right decision is, obviously, no one wants to look dumb.
So What people look for in those situations is a trusted friend.Someone they can feel comfortable asking advice from because they know he or she has your best interests at heart and will give you advice that will benefit you, not him or her.
You need to realize that everyone you sell your stuff to are humans, just like you.
Your job, therefore, is to understand and acknowledge the reality of human nature in your clients. Accept that people will work harder not to look foolish than they will work to gain an advantage.
Become their trusted adviser, their friend. Treat them the same way you would want to be treated.
Think about the different people you deal with, sell your products or services to, buy from, and work with.
What results are they truly after?
What’s the impact your action, product, service, or function has on their career, job, future, wellbeing, etc.?
How have you impacted their quality of life in the past?
What has it meant in terms of their business or personal success?
How much more could you do to improve your impact on that result?
Think about their hopes, dreams, fears, interests, families, goals, and dependency or trust in you.
In short, Try to become your client’s trusted friend. And Try to make your customers lifetime clients by helping them as much as you can.