My brother Jason recently sold his company, Animal Pharmaceuticals, for 35m. He started the company out of the trunk of his car in 2003. Bootstrapped. He only had a few employees.
I shadowed Jason a few times when he sold door to door to veterinarians.
Here’s a question Jason asked that resulted in a sale 9 out of 10 times.
Problem
“Dr. Jones, many of the veterinarians we work with say they’re losing 4-6% of their revenue YoY because pet owners are purchasing similar items they sell online or through a pet superstore.”
Poke the Bear
“Just out of curiosity, how are you dealing with that at your clinic?”
The psychology?
Jason shined a light on what vets stand to lose if they do nothing.
Instead of pitching, he poked the bear.
Jason didn’t pitch his value prop; instead, he had a point of view.
The conversation naturally led to his solution, private labeling.
Private labeling allows vets to put their logo on Jason’s products. It’s an effective way for vets to differentiate themselves from megastores & online retailers.
The takeaway?
Swap your value prop for a point of view.
Be the bearer of bad news.
Ditch the pitch.
Poke the bear.