Your Prospect Isn't Thinking It Over - Ask For The Business!

When was the last time your sales call ended in a "No"? Before you answer, think about it very carefully because most sales calls don't end in "No". Most sales calls end in no decision.

I attended an opportunity meeting for a network-marketed product last night. After the presentation and questions, the host simply asked, "Who wants to get started?" While no one did, I smiled when he asked because I knew we were coming to a conclusion.

No decision endings frustrate you and your prospect. You continue to mistakenly believe that someday your prospect will say, "Yes". Your prospect continues to dread running into you because you can't bring yourself to help him or her make a decision. And the cycle continues.

Your goal as a sales professional is to get to a decision. While you want that decision to be "Yes" for your product or service, "No" can be just as valuable. Think about the countless calls you have made on a prospect who eventually said "No" and the time and effort you wasted. Getting to "No" can be a time and money saver. There are three reasons why salespeople fail to get decisions from their prospects.

1. They don't have a plan. Simply put they don't plan to ask for the business so they never do. This happens most often. Salespeople get so wrapped up in the presentation, the product or service, the objections, the questions, and the discussion that they fail to plan to ask for the business. The salesperson gets sidetracked and never finds the close. It's nearly impossible to arrive at a destination that you haven't planned to.

2. They don't believe in what they are selling. This is an alarming fact. If you believe in what you are selling, if you truly feel that what you have will improve the lives of your prospects and customers; why wouldn't you ask for the business? You would be doing your prospect a favor. Everyone likes to do favors for others. Yes, if you don't ask for the business you probably don't believe in the value of your product or service.

3. They just don't have the stomach for another "No". This reason is a part of the previous two. Salespeople begin to believe they will get a "No" so they just don't ask for the business. They mistakenly believe that no decision is better than a "No".

Closing is a must in sales. Here's some help if you have been avoiding "No". Determine how many prospect you called on last month. Then divide the number prospects you called on into the total number of sales or commissions you earned. For example, if you called on 100 prospects last month and made $5000.00 in commissions, you would find that each prospect call you made was worth $50.00 regardless of outcome. Each "Yes" and each "No" was worth $50.00. When each call is worth $50.00 you no longer have to fear the result. At the end of each call you will say to yourself, "Thank you for the $50.00!"

Now when you make a sales call you know it will be profitable. Getting to an answer is all you really want to do. Remember, if you have to go back to the same prospect to get an answer, you have cost yourself $25.00. That's because each prospect is worth $50.00. If it takes you five calls to get to an answer with one prospect, you have made each call worth $10.00. That's not a very good return on investment.

"But if I get a no from a prospect it's over, isn't it?" Not really. "No" doesn't mean "never", it just means "not now". And besides, some of your prospects will gladly say yes if you'll just show them how confident you are in your product or service by asking for the business. You'll get better at it too! Try this technique and let me know how it works for you. The worst thing is not knowing. Get a decision.

Birds Teach Me About Selling

I learned a lot about selling from the birds I tried to feed today

Your product or service must be wanted by a hungry audience.
Your audience wants to enjoy your product or service in surroundings of their choosing.
Your prospects won't become customers if they think the risk is greater than the potential reward.
Some prospects will never take what you give them even if it is perfect for them.
Sometimes your audience isn't hungry.

Fired with Enthusiasm!

I recently spoke to the Greater Women's Business Council (Georgia, North Carolina, and South Carolina) about how to find enthusiasm in any situation. So many people enjoyed the program I thought I would put a recording of the session here (CLICK HERE) for you to listen to. If you'd like a FREE Download email me Enjoy!

What Business Are You Really In?

Many people think that the automobile brought on the death of the buggy whip manufacturer. Not true!

Buggy whip manufacturing still exists today. But it's safe to say the market for buggy whips isn't what it used to be.

Many people believed the internet would be the end of printed newspapers. Again, not true. Many fine newspapers still exist, although they are under increased pressure.

What do buggy whip manufacturers, newspapers, and your business all have in common?

They all must understand the business they are in.

Some argue that buggy whip manufacturers could have survived and thrived if they had noticed the changes and responded more quickly. But if they continued to believe they were in the buggy whip business they never could. The only way they could have made the transition would have been if they knew they were in the transportation initiation business.  A buggy whip initiated the motion of the horse and buggy.

Buggy whip manufacturers are not needed unless you want to initiate transportation via horse and buggy. For buggy whip manufacturers to truly survive they would have needed to fundamentally change their focus of manufacturing to starters for internal combustion engines.   This would have resulted in a new target market for their products.  Nonetheless, buggy whip manufacturers could have survived had they focused on their core business of transportation initiation.

Newspapers are not needed without advertisers (with all apologies to fine reporting and information dispersion).  Newspapers are more likely to survive and transition with the times because they recognize they are in the business of aggregating audiences for advertisers. The delivery of news and information is a by-product of the need to bring audiences together for advertisers.

According to Peter Drucker, "The purpose of a business is to create and keep a customer."  I would argue that is only partially true.  The actual purpose of a business is to create and keep the right customers.  While newspapers create subscribers who are customers, they would be hard pressed to survive on subscribers alone.  They bring together two groups of customers to create a value.  Subscribers receive value from the information from the publication.  The advertisers receive value from the exposure to the subscribers who are likely candidates for their products and services.

Regardless of the eventual outcome of the changes in the newspaper business, it is safe to say that many will survive and transition to a new model because they understand the business they are really in, aggregating an audience for advertisers.  The subscriber base is essential to the advertisers and monetizing it is an added bonus.

What about your business?  Are there ways to increase the value you bring to your "right customers" that would increase your business value? What is the real purpose of your business?  Who are your "right customers"?

By answering these questions you can answer the ultimate question, "What business am I really in?" When you identify this core fact you'll be in a position to dominate your marketplace.

Stand Out In The Crowd: Sponsoring Gives You Exposure - Hosting Gives You Access

If you are seeking a way to stand out from the crowd, perhaps no better opportunity exists than to host or sponsor an event that brings people together.  Whether it's just an intimate group or a large crowd, hosting and sponsoring events provides excellent exposure, however there are significant risks as well.

Sponsoring an event is different from hosting an event.  To sponsor an event usually means that you are providing financial or in-kind support of an event produced by others.  A good example would be if you sponsored a local chamber of commerce luncheon.  You could provide financial support that would assist in promoting the event or paying for the lunch for the attendees.  Perhaps you could provide meeting space for a chamber mixer.  Or you might provide the printed invitations to the annual dinner.  In these examples, you would provide financial support either directly through cash payment or indirectly through in-kind service.  Both are important to the success of the event and you would be recognized as a sponsor of the event.  The chamber would do the rest.

Hosting an event is similar in that you would provide financial support through cash or in-kind service, but then you would also be producing the event.  You would invite the attendees, coordinate the venue, food, parking, and all the other aspects of the event to ensure it's success.  Hosting an event is not for the faint of heart but the rewards often can be greater.  When hosting an event, you control who comes to the event since you have invited all the guests.  You can create the atmosphere that works best for the attendees and for you.  Done well, hosting an event can pay off in a big way.

Whether hosting or sponsoring, the exposure you and your company receive is invaluable.  Most people assume that sponsor and host companies are better established, more financially sound, and therefore better able to serve customers and clients.  Many companies use sponsorships to position their brand as a player in key markets that matter to them most.

A local bank is usually a big supporter of the local chamber of commerce while an energy or gas company may be a big supporter of green initiatives and programs.  The key is to find the group of people you wish to influence and target them with your sponsorship.  Often companies recognize that other organizations produce events better than they can and that they can gain influence through sponsorship of chambers and other cause centric groups.

Hosting events gives you the opportunity to reduce the target group to the key people you choose.  While sponsorship provides exposure and the opportunity to influence, hosting provides the opportunity to interact.  Often the cost of hosting an event is not much different than sponsoring an event, but the cost in hours of planning and executing can easily exceed the financial investment.  Nonetheless, if you or your staff have the ability to host an event, your investment will be easier to track than it will be when sponsoring events.

Most people and companies begin by sponsoring events.  This is a good place to start establishing your brand presence.  You will get noticed and we highly recommend sponsoring events that are congruent with your company mission and that attract your target market.

But we can't urge you strongly enough to try hosting an event as well.  Start with a goal that is small and easily managed.  Perhaps you could invite six clients, prospects, or potential networking partners to a get together over coffee at your office.  Start small and learn through the experience.  Then expand your events to include more people, different formats, and different venues.  You may find it easier to spread the responsibility by co-hosting with a few friends, partners, or vendors.  And remember, vendors who sell you products that you ultimately sell to others are good prospects for sponsoring your hosted events.  You will need to have a few successes under your belt before you will get vendor co-op dollars.

A bit of caution:  While it does happen, rarely do people hold sponsors accountable when an event isn't a total success.  But when you host an event you will be the sole party responsible for the experience of the attendee.  If it goes well or if it goes poorly, you will receive the credit.  So plan well.  Additionally, people are becoming event-fatigued.  Unless your event has a unique twist, you may have trouble succeeding.  That's why putting a few people together that have a common interest is key.  If you are unsure how to put the right people together or what to do to make the event appealing and different, we can help.  Just email us.

Sponsoring the right event or series of events can put you in front of your target market in a way that no other advertising can but it is hard to measure.  Hosting an event with the right invitees can position you and your company as the industry leader regardless of your experience.  Remember, people do business with people they know, like, and trust.  When they attend a well-run event that you have produced, they will get to know, like, and trust you much more quickly.  Try sponsoring or hosting events to make your business grow.