I just spoke with a colleague about creating a 'guarantee' for a client. Interesting call I must say!

Seems the issue is this: if a client wants a 'guarantee' from an advisor or coach . . . what should that guarantee be?

Personally, I don't like being held accountable for what someone (other than myself) must do -- but might not -- in order to produce the result on which some 'guarantee' is being made.

On the other hand, offering a 'guarantee' of some kind -- is an excellent strategy to differentiate yourself and your service. So, what do you do?

My solution: Understand the INPUT / OUTPUT concept. Also understand the QUANTITY / QUALITY concept. Apply both to create a guarantee that YOU can offer safely and your MARKET will find attractive.

INPUT / OUTPUT:
The idea is that output -- results, if you will -- is dependent on input. Usually defined as 'initiating behavior'.

QUANTITY / QUALITY:
The idea here is that a result is a FUNCTION of both the quantity of initiating behavior and the quality of the skill used in performing it.

In the 'old' days, we referred to this as the 'How Much (quantity) and What Kind (quality)' program. If you do 'X' behaviors --say, "Talk with 10 people" with 'Y' level of ability or skill -- say, "You make an appointment with every 5 people you talk with" THEN . . . "You can expect "2 appointments". That's a predictable result and THAT . . . is the basis of a good guarantee: an attractive result for your client and a manageable one for you!

So where's the guarantee?

The guarantee could be this: "You WILL make 5 appointments, IF . . . you talk with 25 people". You can add a timeframe to that . . . 'over the course of a week' or 'per day' or . . . etc.

The RISK . . . of fulfilling the guarantee rests on both the client and the advisor.

The client's risk is that he or she won't do the behavior or INPUT.

The advisor's risk is that he or she won't be able to develop the client's skill level (a quality issue) to the point where the quantity of behavior will produce the results expected and 'guaranteed'.

In that case, you can either offer to: 1) return the client's money if the expectations are missed, or 2) continue to work with the client (to develop their skill level) until the results -- guaranteed by you and expected by your client -- are achieved.

The notion of using a 'guarantee' is a powerful strategy that allays prospects' concern about hiring you. It also differentiates you in the marketplace of consultants and advisors who like to quote their 'hourly fee' but loathe giving the client even a semblance of the guarantee they're seeking.

If you'll apply this insight into crafting a guarantee that will help you manage the risk of offering a decent guarantee to your prospects . . . it will help you STAND OUT in your marketplace as the competitive advisor I know you can be.

Best wishes until next time!