I recently had an opportunity to attend an incredible mastermind that focused on the book called “The Go-Giver” written by Bob Burg and John David Mann. It is a great book that goes over five straightforward yet effective laws of success. These rules of success can be applied to a business or even at a personal level in your daily life. The real key, once you learn about the laws, is to practice and live each core value every day.
- 1. The Law of value. The law of value states that real worth comes from what you give in value versus what you receive in payment. Is the service or item that you have to offer people worth more than what they pay? Do your customers leave feeling like they got a great deal or do they feel ripped off? In your job, do you provide more value than what you are paid? What makes people about buying your product or using your service? If you consistently give more value than what you charge you will have an endless supply of customers that will happily pay you for product or service. Value comes first, the money that follows is a bi-product. In your job, the value comes first, the promotion and raise that follows is a bi-product. One question I like to challenge our team with is if we had to double our prices tomorrow what would we do differently to make it worth the price. Then the challenge is how do we start doing those things without raising our prices.
- 2. Law of Compensation. The law of compensation states that your income is determined by how many people you serve and how well you serve them. This idea is very true in a setting like a restaurant or a service provider. In our restaurant, we can serve up to 1000 people per day. Each guest that comes into our restaurant can have up to 20 interactions with our team. We have the opportunity to create 20,000 moments per day. The key is to create positive moments and work on building the relationship with each guest. People want to do business with those that they know, like and trust. The more we can remove the friction or pain points from the guest experience, the more they will want to return. We also need to remember that we also must serve our team members as well. Wouldn’t it be great to have a line of people just waiting for a chance to work at our company due to our reputation!
- 3. Law of Influence. The law of influence states that we can only gain influence by placing the need or interests of others first. How well do we serve others? We need to figure out what others want and help them solve their problems. Take a drive thru transaction for example. People want the correct order, and they want it to come out fast. If we can execute on these two priorities, our influence grows as a choice for their business when they are in a hurry. We need to go out of our way to put their needs above ours. One of my favorite parts in the book talks about a 50 / 50 result is a loss every time. So many times in life and business we try to win or if we compromise we try to get a to a 50 / 50 result. When we end up here, we have already lost. We want the other person to leave feeling as though they won. If they feel as though they have won, they will be back!
- 4. Law of Authenticity. The law of authenticity states that we need to be genuine and be true to who we are. This goes as both an individual as well as a company. As a business owner, I always try to be true to who I am both inside and outside of my business. I want people that come into contact with me to be treated the same way no matter what. We all have a unique gift to share with others, and we can achieve this by being ourselves. I challenge myself every week in my journal by looking at myself as a personal brand. Did I live up to my brand standards during the week? Does my personal brand match my business? I also write down one thing I want to do to work on improving my brand for the following week.
- 5. Law of Receptivity. The law of receptivity states that we need to be open to receiving the things in life that we want. There are two sides of the coin on this law. The first side is that of what we think about comes true. We need to remember that as humans we tend to live up to (or down to) our expectations. I once heard that the best way to predict the future is to create it. I love that idea. The other side of the coin almost can be classified as karma. The laws of the universe always seem to come back to us. We reap what we sow. The more give, the more you can receive. The more you receive, the more you can give. The most common mistake we make is that we reverse that two statements. We say that we will give more once we receive more but then we never end up receiving more so we never end up giving more.
- If you ever have the chance to attend a Go-Giver mastermind, I would highly recommend it. At a minimum, this book should be on every leader’s “must read” list.