The Endgame to Selling

In golf, there is a saying that, "You drive for show, but you putt for dough." In selling, you prospect and present for show, but you overcome customer skepticism and gain commitment for dough. Your ability to answer objections and get the sale is the true test of how good you really are as a salesperson.

The True Test of Selling
This is perhaps the most stressful and challenging part of the sales process. It's where the rubber meets the road. It is your ability to answer the questions that the prospect puts to you and overcome his natural reluctance to make a commitment that wraps up the sales process. It is also the part of the sales process that salespeople dislike the most and which customers find the most stressful.

Plan It in Advance
The end game of selling must be carefully thought through and planned in advance so that you are thoroughly prepared to bring the sales conversation to its natural conclusion at the earliest and most appropriate moment. Fortunately, this is a skill, like riding a bicycle or typing with a typewriter, and you can learn it through study and practice.

Handling Objections Comes First
Handling objections and closing the sale are two different parts of the sales process but they are so close together that this chapter will discuss them as a single function. Just as there are reasons why people buy a product, there are reasons why they don't. Often answering an objection or removing an obstacle is the critical element in making the sale. You can answer the objection and close the sale simultaneously.

Make It a Reason to Buy
Objections can be turned into reasons for buying. Just as there is a primary reason for buying a product, a hot button, there is a primary objection that stops the person from buying it. If you can emphasize the one and remove the other, the sale falls together naturally.

Smaller Products Versus Larger Products
In selling smaller products or services, where you can prospect and make a complete presentation in the first meeting, your approach to closing will be different from that required if you are selling a larger product in a multi-call sale that stretches over several weeks or months.

Ask For the Order
In the shorter, smaller sale, the prospect knows everything necessary to make a buying decision at the end of your presentation. Your aim should be to answer any lingering questions and then ask for the order. In the larger sale, you may have to meet with the prospect several times before the prospect is in a position to make a buying decision. You will have to be more patient and persistent.

Action Exercises
Here are two things you can do immediately to put these ideas into action.

First, prepare yourself in advance for the endgame of selling by anticipating anything the customer might offer as a reason for not buying. Be ready.

Second, look for the hot button, the reason the customer will buy, and press it. Meanwhile, find out his major reason for not buying and remove it.

 

Want to learn More

Call Mark Garbelotto directly on 1300 795 129

BNI KL10 International Conference in Malaysian

Hi all just back from the BNI KL10 international conference in Malaysian. A couple of the topics I did some training on was “Out Sell Your Competition in Any Market” and “The Art of Closing the Sale”. I will be releasing the seminar called  “The Art of Closing the Sale” in Australia. The first seminar will be on the 22^nd of July in Townsville. I will keep you posted with new dates and locations. Talk soon Mark Garbelotto

Strategic Thinking

The Quality of Thoughtfulness
The ability to think and plan strategically is perhaps the most important single skill of the effective executive. In a longitudinal study of leaders who, in retrospect, made the best and most effective decisions, the single quality that stood out from all others was the quality of "thoughtfulness."

Thoughtfulness may be defined as a careful concern for the secondary consequences of each decision and each action. This is the essence of strategic thinking.

Your Most Powerful Tool
The most powerful tool that you as an executive have to bring to bear on your work is your mind – your thinking ability. Everything you do that sharpens and hones your ability to think with greater clarity before acting, will benefit you and help you to move upward and onward more rapidly in your career.

Decide Upon Your Major Definite Purpose

Since you become what you think about most of the time, a major definite purpose gives you a focus for every walking moment. As Peter Drucker said, "Whenever you find something getting done, you fine a monomaniac with a mission." The more you think about your major definite purpose and how to achieve it, the more you activate the Law of Attraction in your life. Helping you to attract people, opportunities, ideas, and resources to move more rapidly toward your goal and move your goal more rapidly toward you.

Activate Your Reticular Cortex
Each person has within his or her brain a special organ called the "reticular cortex." This small, finger-like part of the brain functions in a way similar to a telephone switchboard in a large office building. Just as all phone calls are received by the central switchboard and then rerouted to the appropriate recipient, all incoming information to your senses is routed through your reticular cortex to the relevant part of your brain or your awareness.

A Red Sports Car
Imagine that you decided that you wanted a red sports car. You write this down as a goal. You begin to think about and visualize a red sports car. This process sends the message to your reticular cortex that a red sports car is now important to you. A picture of a red sports car immediately goes up onto your mental radar screen. From that moment onward, you will start to notice red sports cars wherever you go. You will see them parked in driveways and in showrooms. Everywhere you go, your world will seem to be full of red sports cars.

The Law of Reciprocity

People have a deep subconscious need to reciprocate for anything that is done to or for them. The Law of Reciprocity is one of the most powerful of all determinants of human behavior. This is because nobody likes to feel that he or she is obligated to someone else. When someone does something nice for us, we want to repay that person, to reciprocate. We want to be even. Because of this, we seek an opportunity to do something nice in return. This law is the basis of the law of contract, as well as the glue that hold most human relationships together.

Concessions
The first party to make a concession is the party who wants the deal the most. You must therefore avoid being the first one to make a concession, even a small concession. Instead, be friendly and interested, but remain silent. The first person to make a concession will usually be the person who makes additional concessions, even without reciprocal concessions. Most purchasers and sellers are aware of this. They recognize that early concessions are a sign of eagerness and are prepared to take advantage of it. Be careful.

Equal or Greater
Every concession you make in a negotiation should be matched by an equal or greater concession from the other party. If the other party asks for a concession, you may give it, but never without asking for something else in return. If you don’t request a reciprocal concession, the concession that you give will be considered to have no value and will not help as the negotiation proceeds. If a person asks for a better price, suggest that it might be possible but you will have to either decrease the quantity or lengthen the delivery dates. Even if the concession is of no cost or value to you, you must make it appear valuable and important to the other party or it will not help you in the negotiation.

The Truth About Frogs….

 

 

Ensuring Success at Work

November 22, 2009

Ensuring Success at Work
By Brian Tracy

The very best times you will ever have at any job or company are when you are getting along wonderfully well with your boss. On the other hand, the very worst times you will ever have at any job are when you are not getting along well with your boss. And the major reason why employees have problems with their bosses is because of a lack of clarity about what exactly is to be done, and to what standard, and in what order of priority.

It is important to your boss that you are making the appropriate decisions for the company and completing your job. In order to make decisions effectively, you must know the three types of decisions.

Three Types of Decisions
There are three types of decisions in any organization or family. When decisions involve other people, it is important that everyone is clear about what kind of a decision is under consideration.

Command Decisions
These decisions have to be made by the boss or the person in charge. These decisions are so important that one person is solely responsible for making up his mind about what is to be done.

Hiring a key staff member, firing a poor performer, making an important investment decision, or even negotiating a new loan with the bank are all command decisions. They must be made by the person in charge.

Do you want a wealth of resources you can use at home or in the car to build your knowledge and wealth?

Call our office on 1300 795 129 to order Brian Tracy books and CDs such as The Art of Closing the Sale, Advanced Selling Skills, and Flight Plan.

Consultative Decisions
This is a decision where you, or the boss, ask for advice and take input from other people. You combine the opinions, ideas, and inputs of others, together with your own, and make a decision. Even though it invites the advice and participation of others, a consultative decision is not made based on that advice.

You may be thinking of hiring a new person, assigning someone a particular task, spending a certain amount of money on a business activity, or embarking on a new sales or marketing campaign. If you are the boss, you can ask for advice from everyone before you finally close the door and make your final decision.

Consensus Decisions
The third type of decision is one that is made on the basis of consensus. This is a democratic decision where everyone gets involved, discusses the pros and cons, and then agrees on what is to be done.

Sometimes, everyone is in agreement, and sometimes the decision is made by a democratic vote, where the majority rules. Once the decision has been made, everyone commits to making the decision successful, however they may have voted during the discussion phase.

Action Exercise
Practice participative management with your staff, hold weekly staff meetings and invite everyone to participate and ask questions.

Give the gift of knowledge this Christmas: order your Brian Tracy books and CDs as Christmas gifts for family, friends, clients.

Call 1300 795 129 to place orders for books and CDs like Flight Plan, Speak to Win, and The Psychology of Selling.

Maximise Profits

November 13, 2009

Maximize Profits
By Brian Tracy

Sales are only one barometer for success. Your ultimate goal is to increase profits in order to achieve the greatest possible return on your investment of money, time, and energy. Every customer, activity, product, or service yields a specific profit of a specific amount. In some cases, you may actually be losing money in one or more of these three areas. One of the most important things you can do for your growing business is to determine where to focus the investment of your time and money based on the return thrown off by this investment.

Personal Profitability
To truly analyze the profitability of your business, you must first examine your personal rate of return. From this personal perspective, what is your major expense? It’s your time. By now, you should have developed the habit of continually asking yourself this basic question: Would I pay someone else my hourly rate to perform this task? If not, you are failing to maximize the return on your time. In other words, you are investing your time in an area that yields less than the optimum rate of return. You are incurring a "loss of opportunity" cost. This, in turn, affects the overall profitability of your business.

People Profitability
Payroll represents one of the largest expense items for most businesses. As a business grows, it typically hires additional staff according to the most pressing need at the moment. Once a person has been hired, often she or he can become a permanent fixture, even when the company’s needs change. Many entrepreneurs are too busy creating products, designing services, and generating revenues to pay close attention to employee performance. Over time, the result can be an inefficient and ineffective staff and a bloated payroll.

Do you want to learn how to maximise your profits and increase your sales? Come to Mark Garbelotto’s Selling like a Professional Training Workshop in November!

Customer Profitability
Some customers are more profitable than others; some may actually be costing you money. Can you identify your most profitable customers? Do you know any who are unprofitable? There is not necessarily any connection between the size of the customer or the volume of business he produces and his profitability. There are several questions you should ask as you examine your customers profitability: How often does each customer purchase from you? What is the average size of each purchase? What is the profit margin of the product(s) purchased? How much time is spent providing customer service after the sale? What is the "product returns" record of each customer?

Concentrate on Profitable Customers
Many companies regularly “fire” the top 10 percent of their customers. They stop doing business with those who generate the least revenues or yield the lowest on their return purchases, choosing to concentrate on their more profitable customers and attracting more like them. At the very least, be diligent in rooting out those customers who actually cost you money—regardless of the revenues they generate. You cannot afford to carry this unprofitable load.

Action Exercise
Identify your most and your least profitable customers. Focus on the most profitable.

Learn how to identify your most profitable customers and generate business through Brian Tracy’s proven sales system. Don’t miss out on the Selling like a Professional Training Workshop in Melbourne and Townsville in November!

Call our office on 1300 795 129 to register before this event sells out!

Nine Common Objections You Must Answer

October 30, 2009

Nine Common Objections You Must Answer
By: Brian Tracy

Unspoken Objections
The first type of objection you will get is an unspoken objection. The customer has concerns with you offering but doesn’t tell you anything. The solution to unspoken objections is to let the prospect talk more. Ask open-ended questions, lean forward, and listen intently to the answers. The more a prospect has an opportunity to answer your questions; the more likely it is that she will tell you exactly what might be holding her back from buying.

Excuses, Excuses
The second form of objections is excuses. These are usually instinctive reactions to any sales approach. Excuses are not really serious. The best salespeople nod, smile, agree, and then ask a question to take control of the conversation. The very best way to handle any initial sales resistance, including excuses and impulse responses is with these words: "That’s all right. Most people in your situation felt the same way when I first called on them. But now they have become our best customers, and they recommend us to their friends and family."

Malicious Objections
Then there are malicious objections. Because you call on many different people, you will occasionally call on individuals who are unhappy or angry about their current situations. Since they cannot shout at their bosses or spouses, they take it out on the friendly salesperson. These people tend to be negative in their demeanor and behavior. The way to deal with malicious objections is to realize that you are not the target. Your job, as a professional, is to remain calm, confident, positive, and polite throughout.

Request For Information
The fourth most common objection is a request for information. This is the best type of objection for you to hear, because you know how to answer this as well or better than any other part of your presentation. Whenever a prospect asks for information about the results or benefits of your product or service, you are moving into an excellent field position to make a sale.

Do you want a common-sense, systematic sales system that you can implement today? Come to Mark Garbelotto’s new training workshop, Selling like a Professional in Melbourne, Sydney or Townsville in November.

 

Show—Off Objections
Another type of objection is the show-off objection. Sometimes prospects try to show you how much they already know about your product or service. They make sophisticated observations or ask you complex questions about your product, service or industry. When this happens, respond by taking the low road. Show how impressed you are by how much the prospect already knows. Remember, when you make a prospect feel important by listening to him with rapt attention, he is much more likely to warm up and buy from you.

Subjective Objections
The sixth most common type of objection is subjective or personal objections. These objections are aimed to you as a person. Whenever a prospect becomes critical of you, it could be a sign that you are talking too much about yourself. If this happens, it is important to make the customer the center of attention, and the subjective objections will stop.

Objective Objections
You may also hear the objective or factual objection. These are directed at your product offering and the claims that you make in terms of what it will do for the customer. If you can answer an objective objection, you can often close the sale.

General Sales Resistance
The eighth most common form of objection is what we have called general sales resistance. This always occurs at the beginning of a presentation. Until you neutralize this general sales resistance, the customer will be listening to you with a closed mind. When the prospect relaxes and gives you permission to ask him questions, you immediately begin your pre-selected open-ended questions to qualify the prospect and find out what he really needs that you can provide for him.

Last Ditch Objections
The final most-common objection is called the last-ditch objection. You have made your presentation, and the prospect clearly sees how she would be better off with your product or service. She knows and understands what you’re selling and how much you’re asking. She is on the verge of making a buying decision, but she still hesitates. Listen with respect to your final objections; then assure the prospect that yours is an excellent product or service, at a good price, and that everyone else who is using it today is very happy with their decision. You have then overcome the last-ditch objection.

Action Exercises
Hear the prospect out completely each time he objects or asks a question, practice all your listening skills.

Take action now and generate more business than ever before by using the common-sense sales system that the top 10% of sales professionals have been using for years. This event will sell out, so secure your seats now for ‘Selling like a Professional‘ and you’ll be on your way to success in selling. Call our office on 1300 795 129 for more information on this event.

 

 

Create Your Sales Plan

 

By Brian Tracy

Nothing happens until a sale takes place. Your actual ability to sell your product or service to your customer determines your profit or loss, success or failure, in business. The sales process, to be effective, must be planned and organized in detail from start to finish. Every word and action must be scripted, rehearsed and memorized. Nothing can be left to chance.

Sales Recipe
Making a sale is like cooking with a recipe. You must use the correct ingredient and blend them in the proper quantity with the right timing. All successful companies have developed a proven sales process that can be duplicated over and over. By using a proven sales system, you can accurately predict the quantity of your sales, the average size of your sales, and the profitability of your sales activities.

Prospecting
It is important to speak directly or by telephone to people who can and will buy and pay in a reasonable period of time. Start with your ideal customer profile. Who is he or she exactly-in terms of age, occupation, income, education? Who is he or she exactly—in terms of problems, wants, needs, attitudes, and experiences regarding your product or service? If you could advertise for perfect customers, how would you describe him or her?

Marketing and advertising is aimed at telling your ideal prospect that your product will help them. The ideal prospect has an immediate need for what you sell. The ideal prospect knows you, likes you, and respects your products or business. The ideal prospect can buy and pay for your product if he or she likes it.

Do you want to increase your sales income? Come to my new Training Workshop, ‘Selling Like a Professional‘ in Melbourne on November 19th.

Establish Rapport
Establishing rapport and trust with the customer is a must. The prospect will not listen to you or buy from you unless he/she likes you and believes that you are honest. Be friendly, straightforward and believable. Be punctual, prepared and properly dressed. Ask questions and listen carefully to the answers. Make no attempt to sell until the prospect is relaxed and comfortable with you. Identify what the customer needs so you can better sell to them. Ask carefully planned, structured questions so that you can fully understand the customer’s situation.

There is a direct relationship between asking questions and sales success. Plan your questions word-for-word in advance. Make no effort to sell or talk about your product. Seek first to understand, then to be understood.

Presenting Your Product or Service
Repeat back the specific needs or concerns that your prospect has expressed. Position yourself as a trusted advisor, dedicated to helping him solve his problem or achieve his goal with your product. Position yourself as a teacher-showing her how your product works to help her satisfy her needs. Match the customers expressed needs and concerns to the product or service. Focus on helping rather than selling. Conclude your presentation with an explanation of how the product is delivered or used. Invite questions.

Action Exercises
List three phrases or questions you can use or ask to determine if this is a qualified prospect.

My new Training Workshop, ‘Selling Like a Professional‘ will sell out!

You can register for this not-to-be missed event by calling our office on 1300 795 129.

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