Mike Michalowicz on Using the Business Hierarchy of Needs to Grow Your Book of Business

<p>Mike Michalowicz delivers a powerful message that entrepreneurs and business development professionals need to hear. Learn some incredible hacks you can use right now to deepen your business relationships, identify exactly what you should be working on to make the greatest impact, and learn how to multiply your best clients and grow your book of business exponentially.</p> <p> </p> <p>Mo asks Mike Michalowicz: Why do you have to start with sales?</p> <ul> <li>Sales create cash for a business. We usually start a business to create financial freedom, and to get there we need sales, but sales are not sufficient in themselves. They are the foundation to the Business Hierarchy of Needs.</li> <li>If you realize and feel that your offering is superior to your competitor’s, then you have an obligation to sell it. If your prospect goes with the competitor, they are getting an inferior offering.</li> <li>Making your clients aware of your offer and putting it in front of them is the best way to serve them. Not selling your offering is doing them a disservice.</li> <li>Just like people, businesses have a hierarchy of needs as well. Foundationally, we need sales because it creates cash. Once we’ve got sales we need to extract that cash to bring about stability, also known as profit. Once you have that addressed, you need to create efficiency and order. The level above that is impact, and it’s where your business goes from being about transactions to becoming about transformation. The final level is legacy, which is where the work you are doing is so important that it must continue for generations.</li> <li>The hierarchy functions like a pyramid, where if you want to grow, you need to expand the sales base.</li> </ul> <p> </p> <p>Mo asks Mike Michalowicz: What’s the number one thing people can do to get more yeses?</p> <ul> <li>The most powerful concept is client cloning. We need to focus on our best clients and identify what we know about them. Then you develop an avatar around those attributes and go to where those people