What’s Your Free Prize?

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Find, Package, and Sell Your Special

The last ingredient of a “Person of Influence” is the free prize inside. This is a concept made popular by marketing genius Seth Godin over ten years ago.

A free prize inside is something you get “in addition to” the transaction that you were not expecting. When you open up a cracker jack box at the very bottom is a prize. These add-ons are popular in many products. In the service industry, YOU are the free prize. When I have thousands of services to choose from I chose you, because of some kind of unique perspective or superior skill. However, we are never taught these concepts during the schooling process. Today, I want to help you find, package, and sell your free prize to the world.

I’m a big believer in being unique. No two people have the exact same past, experience, or struggles. When I was in my early 20’s the, “What makes me unique?” question was always a hard one to answer. One of the exercises we do in our coaching program is ask agents what their competitive advantage is based on their unique struggles, past, experience, mentors, and education. In essence, why should I do business with you rather than the 2-3 other services I’m currently shopping?

Free Prize Inside Questions:

  • What superior skill have I always had compared to others beginning at an early age?
  • What defining moments have I had in my life that shaped who I am today?
  • What do my friends or family come to me for advice on?
  • What are things I enjoy doing and am really good at doing the comes natural to me?

Another exercise is to write a “unique ability” letter to those who have known you longest, or who are closest to you. Ask them these two questions: (1) What superior skill or talent do I have? (2) Why do you like to have a relationship with me? Before you receive their responses write down your own answers about yourself. You will start to notice themes from their responses and your own. The reason this is so empowering is because your confidence level will soar when it comes from other people, and you will not only believe them but know it to be true.

An example of my own free prize takes me back to when I was 10-years old. Sports was also a release for me. When I was at home I would record athletes like Ray Allen, Greg Maddox, and Alex Rodriguez on VHS tape. I would study them in the living room and mimic what they did. I would then go into the backyard and do what they did with an actual ball. The two unique abilities I cultivated from this at an early age was (1) how to be resourceful with the lack of resources around me; (2) How to study top performers and extract from them what I do well (self-teaching). Once I understood this I could see these themes throughout my life. Like working as the direct assistant to top producers in multiple industries as a young professional, and writing a book at age 25 called “NEXTPERT” for young professionals on being the “next expert.” Now I get to use these same skills and systems every day with my coaching clients to help them accelerate their own growth. All while growing confidence in their unique abilities.

Here are some “intangibles” of the free prize inside concept:

  • When I’m with you I feel better about me
  • You take a complicated process and make it simple
  • You take my low thoughts and convert them to big thoughts

If you study great teams, especially at the professional level, they win because of their intangibles. When dealing with the top one-percenters in industries it’s the intangibles that make that 2.2mm of difference to win championships. Over half of NFL games last year were decided by less than one score. The same can be said of your industry.

Once you have mastered what your free prize is, and combine it with being an expert agent then you’ll drive more referrals. You will educate potential clients on the front-end on “how you do it different” and, in return, they will be able to refer you more business. The average transaction SHOULD be worth 5.7 additional deals.

However, most people get discarded after a transaction (deal) is over. I believe in being in the transformation business where people come to us one way, and they leave us a completely different way. Let’s look at real estate for example. Too many agents give lip service that, “real estate is the biggest transaction of your life” but yet once the deal is over there was no transformation. Isn’t it time you found, packaged, and sold your special to the world to elevate your status in the market?