25 min listen
TSE 1213: How to Build A Six Figure Income Even If You're Not Great At Closing!
TSE 1213: How to Build A Six Figure Income Even If You're Not Great At Closing!
ratings:
Length:
36 minutes
Released:
Nov 18, 2019
Format:
Podcast episode
Description
How to Build A Six Figure Income Even If You're Not Great At Closing! Ever wonder how you can build a six-figure income even if you’re not great at closing? Closing is one of the most important parts of sales. It is crucial and every word you utter during closing matters. Terry Hansen hails from Idaho Falls, Idaho. His plan is simple but he still has impressive sales success stories. He’s worked with many organizations and sales reps around the country and helped them boost their sales. Throughout his sales journey, Terry has observed three bottleneck scenarios in which entrepreneurs and sales professionals can get stuck. The first is that many struggle to increase their sales and income because they are not getting in front of the right kinds of companies and individuals. They are going at it like opening a phone book and just calling from the top of the list, hoping that someone will buy from them. Once on the phone, they don’t spend time introducing themselves, starting a conversation and making appointments. The second scenario a bottleneck can occur is the lack of framework to qualify customers and salespeople end up closing with people they shouldn’t. This comes from a scarcity mindset. There will always be goals and sales quotas, that have to be hit. Because of this, many people in sales end up trying to sell to without taking the time to determine whether they’re selling to their target customer.. Sometimes, salespeople can close a client and later have regrets because they didn’t share their work values. The third bottleneck in failing to close well comes from not having the right skills. It is each of these three scenarios that can become the speed bumps that keep entrepreneurs from growing their sales. The value of prospecting Many sales books stress the importance of having closing techniques. You have to be a champion in overcoming objections and resolving concerns to become successful in growing your sales. Another secret to success is becoming an account manager. You need to have stellar customer service, be able to ask for referrals, take good care of your base, and keep your competitors from your clients. Terry read a variety of books and did everything they suggested but he still wasn’t hitting his quotas and achieving the level of success he wanted. He then had lunch with a great mentor and was venting about his frustrations. Terry let him know that despite doing the right things, he was still living paycheck to paycheck. His mentor shared an illustration about two salespeople, one great at appointment setting but lousy with closing and the other, great at closing but bad with appointment setting. The first salesperson could schedule 40 appointments per month but only closed 10% of those appointments, which resulted in only four sales per month. The second salesperson lands four appointments per month. He is an amazing closer and but can only close deals 50% of the time, making two sales per month. Terry understood that he would make more money by being good at setting appointments and increasing opportunities. Closing is equally important but the analogy taught him he needed to redouble his efforts in making appointments and meeting with people. The challenges in prospecting Prospecting is uncomfortable, scary, and awkward. Stereotypes of salespeople being manipulative, talking a lot, listening too little, and using high pressure tactics have to be overcome. Most salespeople don’t want to be perceived as manipulative and try to make relationships a priority. However, there can be a period of adjustment as they work to avoid reflecting the negative stereotype. Salespeople are having a difficult time getting past the gatekeeper and making contact with the decision-maker. Too often they leave multiple voicemails and emails with the hopes of getting a reply but typically, that doesn’t happen. The challenge is to be compelling in those initial interactions. Terry tries to be generic in his v
Released:
Nov 18, 2019
Format:
Podcast episode
Titles in the series (100)
TSE 001: The Art of Selling with Jeffrey Gitomer by The Sales Evangelist