multiple things with our home . A lower-income person might have found someone to come out and put a patch on the leaks , ignoring the sinking pool deck and cracks . A middle-income person may have called a few pool companies and made the decision on whom to hire based on who answered the phones live and / or returned their calls ( sadly , this is rampant ). They might talk to a few about “ what it would cost ” to fix the pool and chose the company based on whom they felt wasn ’ t “ too expensive ” and would do a “ good ” job . But a wealthy person is going to FIRST find the BEST pool company in town . They are going to ask their other high-net worth neighbors whom they trusted with their pools — then hire THAT guy , regardless of what it costs .
That ’ s why referrals and networking are so critical to getting HVCs . In my case , I have a new builder who specializes in custom , high-end homes who I trust and called him to get a recommendation . I ’ m also PAYING him to oversee the job so I knew it would be done right . I didn ’ t make my decision on price , but on hiring the best person .
So , What Does An HVC Want In A Business ?
They want someone they can TRUST to have a high level of competence and expertise . HVCs make their decisions based on WHO is providing the service more than what the service is or the price . They want a highly competent person handling their service because they want to lower their RISK . They do NOT want to be embarrassed and appear incompetent or taken advantage of out of their ignorance and stupidity of making a bad decision or hiring the wrong person . THIS DRIVES THEIR SPEND .
They want someone who will make their life EASY . HVCs tend to be running growing companies and need a vendor who can keep up with their growth . They want someone who doesn ’ t need to be reminded or managed to do the job they were hired to do . They know their time IS money ( unlike most who say that but behave entirely different ) and hate to be stalled , inconvenienced , or aggravated by someone complicating their life . They want someone who is highly compensated . HVCs are very accustomed to spending money on advisors , and “ cheap ” is a RED FLAG to them . They expect price to go up with competence . Think about Rolex watches or Rolls Royce cars . They don ’ t sell these items using a “ Labor Day weekend sale !” with balloons and clowns and cheap markdowns spray painted on the windshield . In general , we all associate “ expensive ” with higher value . If your prices are too cheap , you ’ re actually losing face with HVCs . They want appreciation and special treatment . HVCs know they are HVCs and want to be recognized as such . If they feel appreciated , they will spend more and refer more often . n
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