The Wedge Strategy To Land Fortune 500 Companies With Terry Rice
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What general tips can help me land corporate contracts?
What are like three or four just general tips if you had 30 seconds with someone and they want to get more into these big corporate contracts?
I think the most important thing is to use the wedge strategy. Just if you've never chopped down a tree before, the easiest way to chop it down is not by just hacking at it for hours. You want to drive a wedge into one side, just a small wedge, and then from the other side, pull it down. So what McKinsey does is they offer audits as a wedge.
What is the wedge strategy and how can it help?
So instead of saying, hey, give us millions of dollars for this huge project, they say, hey, give us a smaller amount for this audit that we'll do. And then afterwards, they'll say, hey, look, if you want help implementing this stuff, then you have to give us a bunch of money.
My name's Rudy Moore, host of Living the Red Life podcast, and I'm here to change the way you see your life in your earpiece every single week. If you're ready to start living the red life, ditch the blue pill, take the red pill, join me in Wonderland and change your life. What's up, guys? Welcome back to another episode of Living the Red Life. Today, my friend Terry Rice is joining us on the show. Terry, you may have seen in the past, if you've watched my Amazon show, Amazon Prime 60 Day Hustle, Terry's a guest. He's an editor and writer for Entrepreneur Magazine. And like me and probably you, he's an entrepreneur and he helps businesses grow. And today we're going to dive into how he helps big businesses grow. So he He's doing some Fortune 500 consulting or big billion dollar brands. And we're going to talk about if you're in the marketing space, how do you land clients like that? So Terry, welcome to the show. Thanks for having me. Glad to be here. Great. Well, let's dive in.
How can small audits lead to bigger contracts?
I know we've known each other for a while, but if my audience listening don't know who you are, you mind just giving a minute overview of yourself and how you got here?
Yeah, sure thing. I spent the first 10 years of my career in corporate working at companies like Adobe and Facebook and some agencies. And then in 2015, I left to start my own company actually got fired to start my own company.
Why is simplifying knowledge critical for winning clients?
And that's when I just really got scrappy in regards to building my own business, primarily doing digital marketing consulting, and then moving on to helping other entrepreneurs. And now I'm focused more on lifestyle design for high performers and have a program called Savage that helps people with that.
Right. And obviously, I know there's a lot of things we could dive into. And we met through, you know, more on the entrepreneur side. And obviously, our relationships growing from there. But for today, we're talking like you've done, you know, and every time I chat and catch up with you, you're doing another kind of consulting gig or something for like this big, massive brand.
How can I build client trust through transparency?
And I know a lot of people in my industry say, you know, even myself, right? We saw in doing marketing, consulting agency, we get a lot of small brands, but we always want to get the big brands because generally they have, you know, more reach, bigger, bigger contracts, all of those things. So can you talk a little about some of the companies you've worked with and how they came about?
Yeah, yeah, sure thing. And I'll start by saying this all happened by accident. And I'll tell you that backstory in a moment. But, you know, all the things, Walmart, Amazon, Google, like, you know, I can keep going, but hopefully that helps. And on my end, it's great to have access to companies that big because you have such a bigger impact. And as a result of that, you can make more money.
What pricing strategies should I use for maximum value?
So I'm looking forward to guiding people towards their process of getting these big contracts as well.
Yeah, great. So let's dive into the tactic side, right? Like this show is all about, you know, tactics and implementation and short episodes. So let's start with a bang. What are like three or four just general tips if you had 30 seconds with someone and they want to get more into these big corporate contracts? Let's start at the top. What would three or four big tips be?
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Chapters
9 chapters
1
What general tips can help me land corporate contracts?
0:00–0:24
2
What is the wedge strategy and how can it help?
0:24–1:31
3
How can small audits lead to bigger contracts?
1:31–1:53
4
Why is simplifying knowledge critical for winning clients?
1:53–2:27
5
How can I build client trust through transparency?
2:27–3:06
6
What pricing strategies should I use for maximum value?
3:06–4:11
7
How do I navigate pricing objections with confidence?
4:11–4:43
8
What lessons can be learned from being fired at Facebook?
4:43–5:10
9
What are the three wedge strategies for breaking into big clients?
5:10–22:12
Speakers
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