LST #50: Stan Phelps || Building Bulletproof Brands: The Art of Differentiation and Superior Service

Learn Speak Teach Episode 50 w/ Stan Phelps! Watch The Full Episode: https://youtu.be/QiEuhP8lU0M ---- Full Show Notes: https://realbusinessconnections.com/episode/stanphelps/ ---- During this episode, you will learn about; [00:00] Episode intro and a quick bio of our guest; Stan Phelps [06:34] Stan’s rainbow of 11 colored goldfish. [13:04] An example of a business that has the massive goldfish differentiation [18:23] Stan's background [27:38] Value-based techniques to differentiate [33:22] Purple, Green, and Gold Goldfish [35:20] Case study on the impact of doing a little something extra on sales [44:54] “The pick-end rule” [46:25] Ben’s biggest takeaway from reading Pink Goldfish [48:40] Flawesomeness [52:01] What Stan is working on right now and how we can support him [53:14] How to reach out, connect, and learn more about Stan [52:43] Homework: How to start owning your flaws to be different and unique [54:55] Final Thoughts Key Takeaways: ~ No one has control over their market, their competition, let alone the economy. The only thing you can control is how you differentiate in what you do. It’s hard to differentiate with what you offer, but you can differentiate in how you do it and why you do it. ~ [11:54] ~ Referred customers are more valuable to you than the traditionally acquired customer. They stay longer. They spend more money, twice the amount of money as traditional customers, and since they have been referred themselves, they refer up to twice the number over their lifetime. ~ [23:11] ~On time is a myth, people in life are either early or they are late. No one is ever just on time and the same thing applies to the customers we serve each and every day. No one has ever just exactly met the expectations of a customers they serve. We either exceed the expectations or fall short. This gives the choice of doing a little more or a little less. ~ [26:58] ~70% of people buy based on experience, 30% buy solely buy based on price. Given a choice, never compete based on price. It’s a race to th