Episode 188 | Behavioral Pricing For Accounting Firm Owners With Etinosa Agbonlahor

And I wanna go back, I wanna go back though, because like you said, the people, um, you know, are more, we gravitate towards loss averse, right? We feel the loss two times more deeply.

And I truly believe that that's how people make their buying decisions.

And in the sales process and things we've talked about here on the Abundant Account podcast is really focusing on the questions that we ask and keeping it about the problems.

Because people will, I'm gonna guess, like you said, if we're loss averse, we're willing to invest more to get out of the losses and the pain twice as much as we are from feeling good about it.

Yep.

Especially if it's pain that we haven't solved before, we're not familiar with, right?

Mm.

So if you are a tax rep, for example, people have never been audited before, they don't know how it...

You know, they don't, they, they, they've never been through this process before.

Mm-hmm.

And so when you dive deeper into, let's help understand the pain, let's quantify the pain, let's understand the urgency around it, what happens if you don't solve it-

Yep

... right?

Yep.

You're feeling that.

You're making that deeper.

You're helping them understand, okay, this is a big deal and I have to figure it out right now, versus, okay, what is it gonna look like if you solve it? You know, you're leaning more into, like, the opportunities.

Mm-hmm.

That, that might have limited, more limited effect.

Again, given that they haven't done this before.

Yep.

100%.

All, all aligned with everything that, uh, I talk about.

And like you said, I think when we tell somebody in here at the Abundant Account, and I like to call it an investment, when we present an investment for somebody to work with us, like you said, we're not just putting a number out there, it's an actual decision that you're putting in front of them.

And I've never thought of it from that point of view.