Archive for the ‘sales success’ Category

Why Your Sales Success is Inconsistent

Saturday, December 27th, 2008

It was before 9 am.  Aaron cold called a prospect and made a sale.  He felt pretty good about what just happened.  Thinking he needed a small reward, he headed over to Starbucks for a coffee and something to eat.  Aaron was exhibiting the same behavior that most people in sales exhibit–as soon as they have success, they sabotage it.

It’s exactly at this moment that Aaron can least afford to go to Starbucks or take any sort of break.  He has just had a rare occurrence–he closed business on the first call before 9 am.  The wind is at his back, the universe is responding to his hard work, the stars are aligned in his favor.  Time to go to Starbucks?  NOOOOO!!!! Time to pick up the phone and do it again!

Like the gambler in a casino on a hot streak, you stay at the tables as long as it lasts.  Like the tennis player who hits one ball after another just over the net, like the golfer who places one drive after another onto the green, you STAY IN THE ZONE until your streak ends.

Not only do I see financial advisors sabotage themselves intraday like this, they do the same week to week and month to month.  Barry had a really good week generating $10,000 of gross commission, more than he ever had in a single week.  So he decided to reward himself with a three day weekend.  NOOOOO Barry!!!.  You want to get into the office on Saturday and line up your next week and make it a $12,000 week.  Then be in the office Monday at 6 am.

The time when you want to take a day off or go to Starbucks is when you’re in a sump.  Take the time off to regroup your thoughts, your tactics, your strategies when results are not there.  You NEVER take time off when everything you worked for, everything you hoped for has come to fruition.  That type of behavior is insane.

Mediocre producers will exhibit the above behavior.  They have a great week and then slough off so that the month comes out to be just okay.  The top producer behaves differently.  He has a great and then rises the bar so that the next week is even better and has a $40,000 month. Top producers know that when the universe is delivering for you, you don’t spit in its face.  You give thanks of gratitude and show it with your increased activity.

Learn about Brokerville to generate greater sales consistency.

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The Zen Paradox of Sales Success

Thursday, December 25th, 2008

Many financial  advisors believe, without ever thinking about it, that sales success is convincing the prospect to do business with you.  Accordingly, the goal is therefore to enroll people in conversations and the longer the conversation goes, the greater your chance of the close.  Naturally, you believe that if you talk to a lot of people, the goal is to find those people that want to buy. Top producers know that the goal of sales success is just the opposite—the goal is to identify the people who are not buyers.

Think of any 100 people.  How many of those people at this very moment have interest, are qualified and the right fit for your product or service.  Maybe 5?  The goal therefore is to get the other 95 people, the non-buyers, out of the way.  Since your most valuable resource is time, you ideally want to have a 3 minute qualifying conversation with all 100 people so that you can quickly identify and omit the 95 non-buyers from qualification.  You don’t want to spend an extra minute with those people who are not a fit or don’t have interest.  That way, you can devote your time to the 5 people who ARE buyers and turn your time into money.

Although this makes obvious sense—to spend your time with the buyers, I consistently see sales professionals have their longest calls and meetings with the non-buyers.  These non-buyers raise objection after objection, are the most skeptical and will consume far more time than a buyer.  Please don’t do this anymore.  Have your sales presentation ask a few questions in the beginning to identify the non-buyers so that you can leave them and move on.  You then find the better part of your day spent with buyers and go home feeling successful.

Your marketing strategy should reflect the same philosophy—to weed out the non-buyers.  Here again, many financial advisors will want to attract as many people as possible from their marketing.  So they serve a nice steak dinner to attract prospect to their seminar.  You have now successfully packed your seminar with people, most of them non-buyers.  If you did not serve the steak dinner, the people who attend would be those sufficiently interested in your seminar topic and adequately motivated by your invitation.  We call these people buyers. 

Now that you have packed your seminar with a lot of non-buyers, you will find that some of these also set an appointment with you, take up a two hour slot in your calendar and tell you every reason that they won’t buy.  If you don’t feel you make enough sales for the time you spend at work, you now understand why.  Please stop wasting time with non-buyers.

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