This week’s blog talks about the importance of product knowledge or Insight.
In the context of sales, Insight means understanding your product. It also means understanding your own business’s strengths and weaknesses.
London Black Cabs.
For example, London’s traditional black cab drivers rely on “The Knowledge” to set them apart from other transportation services.
Pay a visit to London, and a black mini cab will probably be one the first things you will see. London taxi drivers are almost as famous as the black cabs they drive.
Their fame stems from their incredibly comprehensive knowledge of the city. Hail down a black cab in London, and you can be assured that the driver will find the shortest route to your destination without the aid of any technology.
Is it better than Uber?
London taxi drivers go through stringent training to obtain their licenses. They need to pass “The Knowledge” test; studying for it is often likened to having an atlas of London implanted into your brain.
To become an All-London taxi driver, you need to master no fewer than 320 basic routes, all of the 25,000 streets scattered within the basic routes, and approximately 20,000 landmarks and places of public interest within a six-mile radius of Charing Cross.
It takes the average person between two and four years to learn “The Knowledge”. This education is a big investment, but the training sets this service apart from the competition, whether GPS gadgets or Uber drivers.
In fact, on the ground, a black cab driver will always out-perform the Uber driver. Their extensive, specific knowledge offers an opportunity to reposition themselves as the ultimate experts.
Pay for what you want!
Customers are willing to pay for this good service, and the only way to make it this good is to have true insight into your product.
The question for your business, then, is how do you know what you—and your salespeople—don’t know?
One way to develop insight into your own company is to use a SWOT analysis of your products and services.
The SWOT framework comes from Albert Humphrey, who tested the approach in the 1960s and 1970s at the Stanford Research Institute. Developed for business and based on data from Fortune 500 companies, the SWOT analysis has been adopted by organisations of all types as a decision-making tool.
As its acronym implies, a SWOT analysis examines four elements:
Strengths: Internal attributes and resources that support a successful outcome.
Weaknesses: Internal attributes and resources that work against a successful outcome.
Opportunities: External factors the project can use to its advantage.
Threats: External factors that could jeopardise the project.
Next week’s blog will give you some practical tools and ideas that you can use in your business using this SWOT model.
Until then, good selling.
PLUS: WHENEVER YOU’RE READY…
Here are 4 ways I can help you make more sales in your business – whether your business is big or small.1. Want to become a Sales Mindset Blueprint Member? You get access to an exclusive coaching session with me and full access to my sales programme every month. Get the deets here.
Try the new ‘7 Days to Sales Success’ framework. Make more sales in 7 days—the framework of everything you need to start making more sales in your business. The Sales Success Framework uses a simple 7-day challenge. Click here to find out how you can grow your business by making more sales.
Join our private Facebook group – The Sales Mindset Inner Circle. Get all the latest up-to-date sales ideas. Every week we do Facebook Live updates on all things sales. Tips, ideas, free coaching, and much more. Join me by clicking here
Could you work with me one-on-one? If you’re a small or large business owner or in professional services, you might have a few strategies, tactics and tools away from doubling your lead flow, revenue and impact. Please jump on a FREE 15-minute brainstorming call with me by clicking here.
I am always being asked what makes good sales training and coaching? Here are five tips I hope can help you make the right decision when it comes to hiring any sales trainer or sales coach.
1. The sales team don’t see the sales training as relevant to them.
Usually what happens is that a salesperson will be sent on a sales training course and they get there and it’s straight out of a manual. Taught to them by rote and disappointing.
2. The ‘one size fits all approach doesn’t suit their business situation.
The trainer has not spent the time to evaluate the sales persons’ needs. Tailor making specific programmes work better. Before any training ask the sales trainer to work with you on YOUR outcomes for the training programme.
3. Lack of Outcomes once at the course.
This is similar to point two, salespeople have different needs, just like their clients, many times salespeople arrive at the course and at are never asked what their specific outcomes today for this course.
4. Sales trainer, not a salesperson.
In this case, it’s more about creditability, if the trainer has no experience selling in any form, it’s difficult to build rapport with the audience you are training. The theory is fine, but not realistic. Sales experience is a must for a trainer.
5. Learning as you go.
If the training is not carried out in an environment of learning and facilitation it’s seen as boring and lacking in depth. In the ever-increasing world of soft skills training involving your participants in ‘learning by doing is a must.
These tips have certainly helped my clients and may help you.
Good selling.
PLUS: WHENEVER YOU’RE READY…
Here are 4 ways I can help you make more sales in your business – whether your business is big or small.1. Want to become a Sales Mindset Blueprint Member. Every month you get access to an exclusive coaching session with me as well as full access to my sales programme. Get the deets here.
Try the new ‘7 Days to Sales Success’ framework. Make more sales in 7 days. The framework of everything you need to get started in making more sales in your business. The Sales Success Framework is based on a simple 7-day challenge. Click here to find out how you can grow your business by making more sales.
Join our private Facebook group – The Sales Mindset Inner Circle. Get all the latest up-to-date sales ideas. Every week we do Facebook Live updates on all things sales. Tips, ideas, free coaching, and much more. Join me by clicking here
Work with me one-on-one. If you’re a business owner, small or large or in the professional services you might just be a few strategies, tactics and tools away from doubling your lead flow, revenue and impact. Jump on a FREE 15-minute brainstorm call with me by clicking here.
Did you miss out on a sale today because you could not handle that objection you received from your client? Or you visited half a dozen clients, presented your best proposal and still were not successful?
I am about to show you a technique for getting those most difficult objections answered in a way that you will feel more confident, overcome that frustration you are having currently with your clients, and get management off your back.
Here is how it works.
Did you realise that most objections come in two areas of a sales call?
Appointment setting
Proposal or presentation
Get the appointment.
I am going to talk about the first one, appointment setting. The number one mistake that many salespeople do is try to answer the objection straight away on the phone instead of getting the appointment.
Why do they do that? Many salespeople forget that they are purely phoning to get the appointment.
A business owner might say “I’m not interested” Once a salesperson hears that objection, they try to answer it instead of ignoring it. Why ignore it?
Because by not ignoring it what you are allowing to happen is giving back control to the client.
You are losing control. When this occurs you feel stupid and you lose confidence and give up.
Instead of hearing the objection, acknowledging it, and asking again for the appointment you just want to answer it.
Or give up on the first objection and hang up.
Here is what to do instead: If you hear an advertiser say “I’m too busy” do this step-by-step approach.
Acknowledge the objection. Acknowledging the objection with a statement like “I understand” or “I appreciate that you are busy so therefore I won’t keep you long” These are called softening statements, or acknowledgement phrases. By saying I understand what you are actually saying to the client is that ‘you hear them’.
Do not answer the objection. The key however, is not to get into a discussion with the client but use a well crafted reply to get the appointment. Please remember your first task is to get the appointment. You may use something like;
“I understand, I know you are busy, that is why I will only keep you for a minute, I wanted to come and see you and talk about a few things to see if we are a fit. I have some research on your industry that I would like to share with you.”
Well scripted answers like these allow you to stay on track and stick to your objective.
Keep answering the objection. Using steps 1&2 by using other well crafted answers to overcome those new objections that clients have thrown at you. Here is one for “I’m not interested”!
“I understand, many of my clients tell me that, but when I sit with them and work through some of my specific questions designed for a business like yours, they do become interested. Would it be okay if I could sit with you next week?”
Using these simple scripts will certainly help you to overcome these common objections.
In the upcoming Sales Mindset Blueprint we have created a game that will help you get better at matching up the concerns your client may have with questions that help you discover the problem.
We will keep you posted on where to go to register for the objections game soon.
PLUS: WHENEVER YOU’RE READY…
Here are 4 ways I can help you make more sales in your business – whether your business is big or small.1. Want to become a Sales Mindset Blueprint Member. Every month you get access to an exclusive coaching session with me as well as full access to my sales programme. Get the deets here.
Try the new ‘7 Days to Sales Success’ framework.Make more sales in 7 days. The framework of everything you need to get started in making more sales in your business. The Sales Success Framework is based on a simple 7-day challenge. Click here to find out how you can grow your business by making more sales.
Join our private Facebook group – The Sales Mindset Inner Circle. Get all the latest up to date sales ideas.Every week we do Facebook Live updates on all things sales. Tips, ideas, free coaching, and much more. Join me by clicking here
Work with me one-on-one.If you’re a business owner, small or large or in the professional services you might just be a few strategies, tactics and tools away from doubling your lead flow, revenue and impact. Jump on a FREE 15-minute brainstorm call with me by clicking here.
In my previous post, I covered some personal messages from the book “Only Two Seats Left” www.onlytwoseatsleft.com
I have collected a few more for discussion.
Have a simple written business plan with objectives & goals.
As I have said any goal setting I do is always ongoing but it follows an underlining theme. In the case of John Anderson at Contiki he sets his goals this way.
5 pieces of paper laid out in front of him
First-page overall long-term goal and objectives
Second- personal objectives
Third page- business objectives
Personal and business- for the following year
Income and expenditure for the next two years.
Don’t make your prices be the cheapest – offer the best value.
That might be easy for me to say, but if you are in the business of just price only then you become commoditised, something no one wants it this world of competition.
That tactic only gets you in a scrap with your competition, you are better to dominate that position by being unique and different.
If you are not in that businesses make a promise to yourself that you will walk away from a bad deal once a month. It’s liberating and they may just respect you more and ask you back.
Have fun Selling your stuff.
Mike
PLUS: WHENEVER YOU’RE READY…
Here are 4 ways I can help you make more sales in your business – whether your business is big or small.1. Want to become a Sales Mindset Blueprint Member. Every month you get access to an exclusive coaching session with me as well as full access to my sales programme. Get the deets here.
Try the new ‘7 Days to Sales Success’ framework.Make more sales in 7 days. The framework of everything you need to get started in making more sales in your business. The Sales Success Framework is based on a simple 7-day challenge. Click here to find out how you can grow your business by making more sales.
Join our private Facebook group – The Sales Mindset Inner Circle. Get all the latest up to date sales ideas.Every week we do Facebook Live updates on all things sales. Tips, ideas, free coaching, and much more. Join me by clicking here
Work with me one-on-one.If you’re a business owner, small or large or in the professional services you might just be a few strategies, tactics and tools away from doubling your lead flow, revenue and impact. Jump on a FREE 15-minute brainstorm call with me by clicking here.
In my last blog, I talked about Selling what you can’t see, and how Doug Gold, my business partner and previous owner of the More FM network came up with an idea to sell media inventory that went on to dominate the direct media sales world for well over 20 years.
After his first launch of the Gold Key Programme in Wellington New Zealand, we knew we were on to something special. The product and the problem had changed, as had our approach. Spots and Dot selling were out, and membership was in.
Looking back, it was revolutionary, no one was selling media this way. Subscription-based selling had been around for 50 years, now everyone thinks its the ‘new new thing”. All we did was apply that model to selling inventory on media companies.
I was initially invited into the company as a consultant, but when I saw what Doug had created, it was as if a light went on, I knew that if I could build a sales system that could duplicate the concept he was presenting in that room in a hotel in Wellington, I could leverage it.
I sat in on all the presentations as an observer for a week, watched how all the salespeople sold. I monitored how the clients bought. I recorded the presenter’s speeches and analyzed all the ways that they presented the product. Then I went away and created the first Image Plus programme. A predictable lead generation product that would pretty much guarantee a result. Then I took it to my partner who had just gone to Australia to set up our consultancy services, the wonderful Mr. Duffy.
I think we are onto something”
Brian Duffy trusted me to package it up and take it to a client of his in Hobart, Tasmania. I went in and said, “If you follow this system, I can write a million dollars in revenue for you guaranteed” We launched the program and generated $1 million in four days. In today’s money that’s around $4.5 million. Our cut was a commission fee on the revenue generated.
Boom! We were smoking! I remember at the time watching Brian writing on a small business card how many we had sold each session, after the third session, he came over to me and said. ” I think we are onto something, I count thirty gone of our allocated 100 memberships and its only day one, I’m excited”!
Success is Natural
People look at that success and assume it takes a team of natural salespeople to develop and execute such an idea; they don’t believe they can do it themselves. Granted, I have a passion for the business, but I came from a very small country where nobody was doing this sort of thing. We had some brave, courageous risk-takers as our first clients.
The early adopters in Hobart said, “Yeah, we’ll give it a go” and we were grateful. You may not think you are a salesperson, but if you are in any kind of business, you are just as much a salesperson as Doug, Brian, and me, and you can find clients willing to take the leap with you.
Practice Makes Perfect.
Of course, the journey that NRS Media took has not always been easy. I remember one time I was presenting near Lincoln, Nebraska, expecting 300 people to attend our seminar. Five turned up.
When something like that happens, all you want to do is hide. If you could, you would actually crawl in a hole, pull the cover over the top, and not come back out. Sometimes it seemed like I was on my own and the rebuffs were never-ending. I had a bit of natural resilience, but it really is a lonely place, selling in America is a tough gig. Many people avoid sales because they fear rejection.
Sell something you Believe in.
What you have to remember, though, is that if you are doing something you love, selling something you believe in, then you are performing a service. You are not ripping off the customer, or doing the wrong thing by them. Someone is going to buy it from you. As long as you remember that, you can lift your head back up and start again.
Take Flight from Fright
You should realize that most people don’t take naturally to selling. I often see people so frozen they’re afraid to pick up the phone. Folks freeze with fear, unable to make the call. They’re paralyzed with fright. Excuse my language, but they’re sh*$$!ng themselves because they’re so afraid of the reaction. Many people find selling terrifying; it’s a natural human reaction.The thing is, this fear comes through in their work and makes them less effective.
If you own a product, service, or a business, you have to sell. If you’re passionate, believe in that product, and know that your customer should have it, then don’t be afraid to go and present it.
Try not to think of it as asking a yes-or-no question. Instead, picture yourself helping the customer through the decision-making process. Simultaneously, you come to comprehend their needs, wants, and desires. If you can honestly say, “Look, this is my product. I believe in it. I think it’s right for you,” and you come from a position of integrity people will respond. All it takes is a shift in perspective. Stop thinking, “I’m not in sales.” Reframe that thought.
Call it Something Else.
Call it something else. Recognize it for the relationship building process it really is. Changing my mindset has helped me personally banish the fear of rejection. At first, I tried half-heartedly and then gave up, just like anyone else. I realized, though, that if I didn’t change the way I thought about sales, I was going to lose. Today, I help salespeople change their frame of mind so they’re working steadily toward a reward rather than flailing about trying to avoid failure.
I remember working with a new salesperson on this issue. He was seriously afraid of going out and talking to people, so we gave him some new words to practice just before the sales call.
We asked him to say “relationship building” instead of “selling” in his mind and we saw right away the fresh connections he was making. His new vocabulary changed his mindset. He was much more comfortable—and successful—in his calls after he implemented this simple tool.
Successful sales also means maintaining relationships with clients over a long time period without getting the payoff of a “yes.” In the early days of my business, I remember approaching clients who would say no three, four, or five times. I considered that a failure. I thought, “Well, I just can’t do it.”
What did I learn?
Successful sales also mean maintaining relationships with clients over a long time period without getting the payoff of a “yes.” In the early days of my business, I remember approaching clients who would say no three, four, or five times. I considered that a failure. I thought, “Well, I just can’t-do it.”
What I discovered, though, was that I had to see rejection as a temporary setback and make plans to move on. I had to say to myself, “Okay, Mike, what did you learn and what could you do differently? Could you apply a different approach to that problem? Let’s try it and see what happens then.”
If you want to build leverage into your business like we did, then let’s talk.
Selling is easy “it’s just how you think about it”
In my last blog, I talked about Selling what you can’t see, and how Doug Gold, my business partner and previous owner of the More FM network came up with an idea to sell media inventory that went on to dominate the direct media sales world for well over 20 years.
After his first launch of the Gold Key Programme in Wellington New Zealand, we knew we were on to something special. The product and the problem had changed, as had our approach. Spots and Dot selling were out, and membership was in.
Looking back, it was revolutionary, no one was selling media this way. Subscription-based selling had been around for 50 years, now everyone thinks its the ‘new new thing”. All we did was apply that model to selling inventory on media companies.
I was initially invited into the company as a consultant, but when I saw what Doug had created, it was as if a light went on, I knew that if I could build a sales system that could duplicate the concept he was presenting in that room in a hotel in Wellington, I could leverage it.
I sat in on all the presentations as an observer for a week, watched how all the salespeople sold. I monitored how the clients bought. I recorded the presenter’s speeches and analyzed all the ways that they presented the product. Then I went away and created the first Image Plus programme. A predictable lead generation product that would pretty much guarantee a result. Then I took it to my partner who had just gone to Australia to set up our consultancy services, the wonderful Mr. Duffy.
I think we are onto something”
Brian Duffy trusted me to package it up and take it to a client of his in Hobart, Tasmania. I went in and said, “If you follow this system, I can write a million dollars in revenue for you guaranteed” We launched the program and generated $1 million in four days. In today’s money that’s around $4.5 million. Our cut was a commission fee on the revenue generated.
Boom! We were smoking! I remember at the time watching Brian writing on a small business card how many we had sold each session, after the third session, he came over to me and said. ” I think we are onto something, I count thirty gone of our allocated 100 memberships and its only day one, I’m excited”!
Success is Natural
People look at that success and assume it takes a team of natural salespeople to develop and execute such an idea; they don’t believe they can do it themselves. Granted, I have a passion for the business, but I came from a very small country where nobody was doing this sort of thing. We had some brave, courageous risk-takers as our first clients.
The early adopters in Hobart said, “Yeah, we’ll give it a go” and we were grateful. You may not think you are a salesperson, but if you are in any kind of business, you are just as much a salesperson as Doug, Brian, and me, and you can find clients willing to take the leap with you.
Practice Makes Perfect.
Of course, the journey that NRS Media took has not always been easy. I remember one time I was presenting near Lincoln, Nebraska, expecting 300 people to attend our seminar. Five turned up.
When something like that happens, all you want to do is hide. If you could, you would actually crawl in a hole, pull the cover over the top, and not come back out. Sometimes it seemed like I was on my own and the rebuffs were never-ending. I had a bit of natural resilience, but it really is a lonely place, selling in America is a tough gig. Many people avoid sales because they fear rejection.
Sell something you Believe in.
What you have to remember, though, is that if you are doing something you love, selling something you believe in, then you are performing a service. You are not ripping off the customer, or doing the wrong thing by them. Someone is going to buy it from you. As long as you remember that, you can lift your head back up and start again.
Take Flight from Fright
You should realize that most people don’t take naturally to selling. I often see people so frozen they’re afraid to pick up the phone. Folks freeze with fear, unable to make the call. They’re paralyzed with fright. Excuse my language, but they’re sh*$$!ng themselves because they’re so afraid of the reaction. Many people find selling terrifying; it’s a natural human reaction.The thing is, this fear comes through in their work and makes them less effective.
If you own a product, service, or a business, you have to sell. If you’re passionate, believe in that product, and know that your customer should have it, then don’t be afraid to go and present it.
Try not to think of it as asking a yes-or-no question. Instead, picture yourself helping the customer through the decision-making process. Simultaneously, you come to comprehend their needs, wants, and desires. If you can honestly say, “Look, this is my product. I believe in it. I think it’s right for you,” and you come from a position of integrity people will respond. All it takes is a shift in perspective. Stop thinking, “I’m not in sales.” Reframe that thought.
Call it Something Else.
Call it something else. Recognize it for the relationship building process it really is. Changing my mindset has helped me personally banish the fear of rejection. At first, I tried half-heartedly and then gave up, just like anyone else. I realized, though, that if I didn’t change the way I thought about sales, I was going to lose. Today, I help salespeople change their frame of mind so they’re working steadily toward a reward rather than flailing about trying to avoid failure.
I remember working with a new salesperson on this issue. He was seriously afraid of going out and talking to people, so we gave him some new words to practice just before the sales call.
We asked him to say “relationship building” instead of “selling” in his mind and we saw right away the fresh connections he was making. His new vocabulary changed his mindset. He was much more comfortable—and successful—in his calls after he implemented this simple tool.
Successful sales also means maintaining relationships with clients over a long time period without getting the payoff of a “yes.” In the early days of my business, I remember approaching clients who would say no three, four, or five times. I considered that a failure. I thought, “Well, I just can’t do it.”
What did I learn?
Successful sales also mean maintaining relationships with clients over a long time period without getting the payoff of a “yes.” In the early days of my business, I remember approaching clients who would say no three, four, or five times. I considered that a failure. I thought, “Well, I just can’t-do it.”
What I discovered, though, was that I had to see rejection as a temporary setback and make plans to move on. I had to say to myself, “Okay, Mike, what did you learn and what could you do differently? Could you apply a different approach to that problem? Let’s try it and see what happens then.”
If you want to build leverage into your business like we did, then let’s talk.
Selling is easy “it’s just how you think about it”
