Worried that offering risk-reversal could backfire? Here’s why it wont..Carl shares in this episode how to offer it with care. Listen to your #70secondCEO every week day at 7am.
Read full transcript:
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over one minute investment every day for a lifetime of results.
We need a risk reversal. A risk reversal says some version of this, if I fail you I’ll give you all your money back plus I will pay fifty percent of our agreed upon contract to the vendor of your choice once you hired them and I will help you find somebody, I’m not gonna give you the money I’ll pay it to them because I failed you and you like that guarantee better than risk reversal, you like that one? Yeah! On paper it sounds great if someone else is doing it, how do you like that for your business? Oh my god the whole worlds gonna want their money back, no they’re not because in your, I’ll guarantee this for the premium offer, that’s where you put your risk reversal, you’re not gonna put your risk reversal in the dollar, dollar fifty, two dollar model you’re gonna put it on three dollar model. The three dollar buyers least likely to want their money back but you want it, you have to have your risk reversal option. (Carl is talking about a hypothetical pen you are selling.)
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.