How To Sell a Lobster by Bill Bishop

Amazon describes the book as…

 ”Are you looking for new ways to have fun and make more money? Are you searching for innovative ideas to get new ventures started, overcome buyer’s resistance, close prospects, or create a bigger and better business? If so, How To Sell A Lobster is the perfect book for you. ”

My notes on what I found to be of particular interest…

People like specials – it sounds more fun
Customers prefer to visualize small, tidy packages, something quick and easy
If it is part of the menu, then guests have permission to order it
No one wants to be the first. To be the first means you might look stupid (most people are followers). So, create the impression that you already have members.
Replace the fear of being first with the fear of missing out.
Invite 1000s of people and 100s will come.
It is cheaper to give away something of value to get people in the door for the first time. Use excitement and word of mouth. You need to project yourself as vibrant, and successful. Create the impression people are lining up / waiting to buy – it creates an aura of popularity / exclusiveness. You do not want to make it too easy to get your product / service.
If you only have one choice, then it is yes or no. Nothing else to think about so you always focus on price. With two choices, you usually take the small because, (a) save money, (b) play it safe.
With three choices, you start at the large because it is dazzling, beautiful and huge, but perhaps too expensive. Then you consider the small, but it is not sooo great next to the large – it appears cheap and unappealing. So, the middle is juuuust right (and a safe bet).
When you offer 3 choices, it is not about charging too much, it is about giving the customer choice – and marketing is about choice. But, 4 or more choices is bad. It starts to get confusing (it is easily not to decide if there are too many choices to make) and there is no middle (and people like safe).
Look at each situation via the customers eyes. Approach each prospect with no expectations or preconceived notions. Think about the customer’s real problem and educate your prospects about the real issues.
Do not sell the captain of the Titanic more champagne, convince him that his ship will sink and offer him more lifeboats.
Give samples, let the prospect experience your produce / service. It reduces the amount of time and effort you need to explain the product. By giving free things that have value you break the sales-pitch-bunker (where people go out of there way to avoid advertising).
Give a 90 minute free consultation, a free tax-audit, or software with a trial license. Discounts / coupons do not count because they are associated with with a sale. Because you are giving away stuff for free, you get to decide who qualifies for the free value. This exclusivity means that even more prospects will want it. When you build a business around a specific product or service and not around customers, all of your thinking starts with the product – so when the product is no longer popular your business tanks.
Your main focus is to help your customers prosper.
If you don’t know how to service your customers then learn or partner with someone that does.
Choose a customer type, and focus on one at a time
Are you selling the right stuff? To promote you have to do something new
Are you willing to give away value for free?
Develop your marketing process. What steps will you take to attract prospects and turn them into customers. The first step is making the customer aware of you via (a) direct mail, (b) public ads, (c) incentives for regular customers.
The Big Idea is a concept that will get people attention. It can be a contest, a new product, a special program. Just do something, and make it BIG.
You need sizzle.
If you are embarking in a new campaign to promote your business, start by asking yourself : “What is our Big Idea ?”
Take a box and put a big price on it. Now brainstorm on what you could put in that box to justify the big price.
Most of us get caught up in incremental thinking because we can not see beyond the boundaries of our existing industry. But when you put a big price on the box, it gives you the permission to think big. You have to start filling the box with new ideas. Get your prospects to open their wallets before asking for the big sale. Turn prospects into customers by getting them to buy small, to be more open to spending large later. Prospects have no commitments, but once their wallets have been open they do not want to see their money go to waste.
At the free seminar, offer a $300 consult for free if they buy a $50 starter kit, valued at $200. Customers need to get into the habit of opening their wallet. Again, they do not want to waste their investment by walking away.  If they have made an investment of time and money, they are inclined to keep going. Once people have started to behave in a certain way, they want to keep behaving that way in order to reinforce their self-image as a consistent person. That’s why it is so important to get your prospects to open their wallet as soon as possible.
Most people think their problems are quick and easy to fix. To help deal with, give your client’s problem a name. In the financial sector, you might call the issue of buying financial tools on the cheap usually results in you getting the wrong tools, “Tools-Only-Trap”. Having a name means that it is easier to understand and remember.
Next, get prospects to do a self diagnose. We cannot convince them, they must convince themselves. Create a self-assessed score card with questions that ask the prospect to admit their problem and outline how they are going to deal with it.
You may deal with smart people, but most are only smart ni their own domain. Outside that domain they are usually at a Grade 2 level. So, they will have a hard time buying your university grade product / service.
You need people at Grade 12 to buy your stuff. To get them there: give their problem a name, have them complete a self-assessment and do some educational marketing. This marketing is about concepts related to your business. Include key concepts only (like why is it efficient to have a financial plan before making large financial decisions), and refrain so the nitty / gritty.
Even though most people are looking for the quick fix pill, they are willing to buy the bigger solution if you take them through a process of self-discovery.
You cannot just tell clients “what you have sucks”. You have to judiciously apply honesty. Before you criticize, acknowledge what has been done right. Show the prospect how they are half way up the mountain (this pertains to an allegory of climbing Mount Everest – most people can do the first half without must help, but its the second half that is the really difficult part). The prospect will see that you acknowledge their work and will see where to go next (know as the growth edge).
 The growth edge is the point where a person needs help. If you play See Spot Run with an 11 year old they’ll be bored, but if you teach them nuclear physics they will be lost. You must tailor your instructions to match the level of your audience.
 Everyone is half way up the mountain, you just need to look harder sometimes.
 First recognize/applaud what was done right before giving advice.
 Don’t propose marriage on the first date
 Develop trust, intimacy, communication over TIME. The date has to sound exciting. Repackage your first visit with the client as a special event (i.e. help retailers to sell more fireworks instead of simply “hey, we want to sell you fireworks”) and at the event bring in field experts to explain in detail how something (relevant) works.
 Are you coming out too strong on the first date with a new prospect?
 Trees actually grow exponentially. The problem is that it starts with the roots (a problem because you cannot see the growth, you have to believe it). And, in the beginning there is a need for a lot of care. If you go too quickly you will not have worked out all of your systems and processes and it can be a huge bomb.
 Tend to your seedlings, give it time to grow and do not cloud your vision with the disbelief of others.

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