| Let's consider the example of an entrepreneurial | | | | doubts, objections or negative comments, you |
| inventor attempting to market his newest | | | | have not constructed the value confirmation |
| creation: a portable hydrostatic body fat test | | | | properly. |
| appliance. Design is complete, testing is finished | | | | Tell to Sell! |
| and results exceeded initial assumptions, several | | | | For many inexperienced sales people, the following |
| working prototypes have been built, UL Approval | | | | will be difficult, but it is the best sales training point |
| is in hand, patents filed and a business plan has | | | | I ever received: "people do not like to make |
| been customized. The wellness aspects of the unit | | | | decisions, so you make decisions for them". Telling |
| make it timely and potentially very lucrative if | | | | is selling, while asking is buying. The opportunity to |
| handled properly. | | | | control the presentation, ask qualifying questions, |
| Most entrepreneurs would consider the status of | | | | set up a successful close and then receive the |
| the above-described project to be advanced and | | | | positive commitment you seek (and need, and |
| well positioned. Only one problem, a very big | | | | deserve) is greatly enhanced if you can subtly |
| problem: the inventor is a brilliant engineer and | | | | direct the buyer to sign the order. "Mike, we need |
| conceptualist, but is phobic about standing up and | | | | to get this contract done today, so we can have |
| presenting himself, his product and his profit | | | | inventory in time for the catalog mailing"! |
| opportunity. As a result, he will struggle to find | | | | Limit Risk for the Buyer! |
| investment capital, a license deal or a strategic | | | | Buying requires action. Let's face it, it is far easier |
| alliance. To successfully commercialize this new | | | | to be inactive, stick with what you have and |
| wellness appliance, and any other new product | | | | know, than to bring in a new product. The new |
| opportunity, the inventor must be able to sell all | | | | item requires a lot of logistic work: creating a new |
| aspects of the features, benefits and income | | | | vendor file, issuing a new purchase order, |
| generation to be derived from the novel device. | | | | assigning a new warehouse area, a new in-store |
| The example cited here is true. It is one of the | | | | shelf alignment, discontinuing the product you will |
| saddest spectacles we see in the consulting world | | | | replace, etc. In addition, there is a history with the |
| when poor basic sales skills stand between a | | | | old item, and there is no certainty your new |
| great opportunity and success. The creator has | | | | product will perform better, or even as well. This |
| identified a need. He has addressed the need. In | | | | represents risk. |
| the run up to presenting the product he has | | | | It is crucial that you leave the prospective buyer |
| taken every correct step in the development | | | | feeling that there is minimal risk involved in |
| process. Now, finally at the cusp of success, the | | | | purchasing from you, and there is a significant |
| inability to sell the idea is a major roadblock. | | | | potential upside. Your features, benefits and novel |
| This is silly. The most important task confronting | | | | improvements need to be detailed in an open, |
| any new business or product opportunity is the | | | | transparent and comprehensive presentation that |
| ability to sell the project. The only affirmation to a | | | | leaves no doubt that you offer a real advance |
| products value occurs when the item is sold, and | | | | over competition. No flim-flam, just the facts |
| for how much. The inability to sell confirms in the | | | | ma'am. |
| eyes of buyers and investors that there is a lack | | | | Friendship Makes Sales! |
| of need, commitment, confidence, and passion for | | | | When I make a cold call I have two goals: make a |
| the product. | | | | friend, and make a sale. We all have experienced |
| Selling is simply asking a person for a preferred | | | | meeting a stranger in a social situation, bumping |
| outcome and obtaining their agreement to buy. | | | | into them later, chatting and commencing the |
| The seller conveys a product (or service, | | | | process of building a relationship that results in |
| technology, patent, trade secret, etc.) and | | | | creating a friend. When you make a call, whether |
| receives consideration (money, goods, property, | | | | the first or tenth meeting, your goal should be a |
| etc.) from the buyer. Each side in a sales | | | | sincere offer of yourself as a friend to the buyer. |
| transaction should receive a fair perceived value. | | | | A buyer, as a friend that evolves from a |
| For many people the fear of finding themselves in | | | | commercial stranger, knowing that you are playing |
| a sales presentation or meeting format is truly | | | | in a local tennis tournament next weekend, is |
| enervating. They love their project and know it | | | | always more likely to purchase from you than if |
| cold. However, they cannot overcome a dread of | | | | they know nothing about you other than what |
| failure, rejection. They take failure personally. I | | | | they see in a meeting. Friends ask questions that |
| have seen capable people break out in sweat, | | | | reflect their real interest in another's needs, |
| nervousness, become confused and flighty before | | | | desires and motivations. Friends are good listeners. |
| a sales presentation that could dramatically change | | | | Make each contact an opportunity to prove that |
| and improve their life. This real effect of the | | | | you are interested in the buyer's wellbeing, as well |
| dread of selling themselves, and their opportunity, | | | | as their business. |
| can be overcome and must be if entrepreneurial | | | | Testimonials Are the Most Important Tool for |
| success is to be achieved. | | | | New Entrepreneurs! |
| Short the option of hiring professional sales talent, | | | | A testimonial is a quote for attribution that |
| or sales consultants, an entrepreneur will always | | | | supports the feature and benefit claims related to |
| need to be the sales face of his product and | | | | a business or product. The acquisition of a file of |
| business. He has so much to gain and so little to | | | | testimonials is invaluable in cementing that current |
| lose. Gaining a customer from a confident, | | | | users of a product are strong voices for the |
| successful sales presentation is crucial to a new | | | | utility of the item. I never take a prototype or |
| enterprise. Losing a sale because of a stumbling | | | | product to a presentation until I have a handful of |
| performance can be crushing (and a lost sale is | | | | quotes from focus groups, customers that have |
| gone for good). | | | | seen the product demonstrated or product |
| Here are a few points that an inexperienced | | | | buyers. This is more valuable than any advertising. |
| entrepreneur, with limited sales skills can utilize to | | | | I have every buyer physically touch and handle |
| improve in this essential area. | | | | the testimonial file and encourage them to contact |
| Prepare, Prepare, Then Prepare Some More! | | | | the people that have offered the positive |
| Before any sales presentation you must do | | | | comments. In 35 years of selling, I have only had |
| everything possible to learn about the prospect, | | | | one buyer actually reach out and make the |
| their industry, needs, competition, current pricing | | | | contact (the call resulted in a glowing review). The |
| models, promotions and industry trends. The | | | | mere fact that they have in their hands an |
| more knowledge you have, the more confident | | | | inventory of happy product users is a powerful |
| you will be that you have answers for probable | | | | closing tool. |
| questions and objections. This preparation can go | | | | My Price is Fair and Firm! |
| a long way to assuaging fear of the selling | | | | Price is the Achilles Heel for 95% of all sales |
| process. Confidence results in a conveyance of | | | | people, and 100% of the unsuccessful sales |
| strength, and strength is always admirable in | | | | people. Do not sell price. Somebody will always sell |
| selling. | | | | cheaper. |
| Seek Out a Mentor! | | | | 20 years ago the Japanese were the low cost |
| Somewhere in your life's experience, you have | | | | producers of our imports. The Korean's then |
| made contact with a person with experience in | | | | replaced the Japanese as the low cost producer in |
| business at some level. Family, friend, a neighbor, | | | | the Orient. Today the Malaysians, Indonesians and |
| a cousins brother-in-law, they are out there and | | | | Central America all provide lower prices than |
| closer than you think. Ask for help. I mentor at a | | | | Korea. The next wave of nano-priced labor will be |
| university and consider it one of the most fulfilling | | | | from Vietnam, Laos and Cambodia. Somebody will |
| parts of my busy schedule. I get back a lot more | | | | always be ready, willing and able to produce for |
| than I give, and I give a lot. Mentoring is | | | | less. |
| rewarding. Contact small business incubators, | | | | Sell the quality and benefits of your product. "My |
| SCORE and local university business schools for | | | | price is firm and fair, this product lasts twice as |
| information on available mentor programs. | | | | long as my competitors, and this makes the price |
| Practice, Practice, Practice! | | | | differential negligible". Be proud to detail the |
| Have you ever played a sport? The first time | | | | reasons your product is priced as it is. |
| you swing at a golf ball I will bet that you did not | | | | Negative Selling is Not Negative! |
| hit a 300-yard linear rocket. You practiced. The | | | | Every product has a negative in one area or |
| more you practice the better you become at | | | | another. These negatives are the sales points that |
| hitting a golf ball. Don't read theoretical books on | | | | competitors hang their hat on when seeking |
| developing the golf swing, or watch training tapes. | | | | advantage. Negative selling is not an attack on the |
| You learn, really learn, by doing something | | | | competition. Negative selling is when you are |
| repetitively and critiquing performance results. | | | | up-front about a perceived deficiency in your |
| It is no different in achieving sales success. The | | | | product and turn that feature into a positive. |
| more you put yourself and your product in the | | | | Mercedes Benz automobiles are expensive |
| sales arena the more comfortable you will | | | | (relative to Lexus, a direct competitor), costly to |
| become. With comfort, comes confidence. | | | | maintain, and fuel. Mercedes knows this. They |
| Confidence is contagious and with more faith in | | | | have perfected a negative selling technique to |
| your abilities sales will begin to happen and then | | | | turn these perceived flaws into strengths. |
| cascade. | | | | Mercedes position is that safety and superior |
| Give Value First-and Then Close! | | | | performance requires advanced engineering, |
| Actually asking for the purchase-order, or an | | | | strength in materials and thus, added weight |
| investment (the closing), is the greatest persistent | | | | (resulting in heavy fuel consumption) but this is |
| hurdle many struggling sales people can not | | | | overcome by a real safety advantage. "Would |
| overcome. They either can't ask for a preferred, | | | | you want to put your family at risk in anything |
| needed outcome, or cannot properly time the | | | | less than the best engineered car on the road"? |
| attempt. Timing in sales is crucial. The buyer has | | | | In one of my early ventures I had a direct |
| many options for consideration. Why is your | | | | competitor. His product was 100% natural. My |
| offering of better value, performance, durability | | | | product was synthetic. There is a real belief in |
| and novelty? Confirming the value of your | | | | many people that natural is always better. It is |
| product for the buyer is the foundation of the | | | | not. There are reasons that we live longer, better, |
| sale. | | | | healthier, more active lives than prior generations |
| Too many sales people attempt to close too | | | | and yet consume copious amounts of products |
| quickly because they mistakenly believe that they | | | | artificially enhanced with chemicals, preservatives |
| have fully detailed the benefits of their product. | | | | and supplements. Nevertheless, his tout that his |
| Only the buyer can confirm that the product | | | | all-natural product was superior to mine had |
| benefits have been fully explained. The best way | | | | resonance with retailers and consumers. |
| to confirm that no stone has been left unturned is | | | | Here is how I developed a negative sales |
| to ask questions, and then listen carefully to the | | | | strategy to overcome the synthetic vs. all-natural |
| answers. | | | | argument. " Brand X is an excellent product. It is |
| With the value proposition of the product on offer | | | | 100% natural. I looked at making a totally natural |
| fully described, and an understanding of how the | | | | product for my Company. I decided, after a great |
| item will be of value to the buyer, you are now in | | | | deal of research and clinical testing, to make my |
| position to ask closing questions. | | | | product using a blend of herbs, vitamins and |
| Learn to Use Assumptive Closing Questions and | | | | preservatives. The preservatives are absolutely |
| Statements! | | | | essential in stabilizing the product, extending the |
| Never ask a question you do not know the | | | | shelf life of the product and safe usage by your |
| answer too! There should be only one answer, | | | | customers. I would never compromise safety in |
| not open to variables. For instance, never ask a | | | | order to obtain an edge." |
| decision-maker (you are selling a weight loss | | | | In this case, the negative selling proposition that I |
| product), "Why should any kid be fat today"? | | | | proposed also had the wonderful advantage of |
| What is wrong here? Possibly the buyer has an | | | | being true. My competitor was eventually |
| overweight child. Possibly the child has a medical | | | | withdrawn from the market because consumers |
| condition. You do not know with absolute | | | | experienced bacterial infection around the eyes. |
| certainty that you have not touched a raw nerve. | | | | The FDA ordered the product removal. The |
| Theoretically kids probably should not be fat but | | | | preservatives I used (thus making my product |
| they are, and for many reasons. | | | | synthetic) protected against microorganisms that |
| Instead, ask assumptive closing questions | | | | caused infections. |
| sprinkled throughout the meeting. "You can | | | | I love to sell. All successful entrepreneurs either |
| certainly recognize the labor saving feature we | | | | are, or must become, strong advocates for their |
| have engineered into in the new Type 54 | | | | opportunity. This advocacy is most fully confirmed |
| Platform Loader, can't you Tom"? | | | | by sales success. Nothing happens in any |
| "You can see that the option to utilize the | | | | enterprise until somebody sells something. Every |
| multi-purpose blending/grinder blade on the new | | | | other facet of business depends on the crucial |
| rotor is a real labor saver and advance on the old | | | | trigger mechanism of a buyer deciding to |
| Expedient model". | | | | purchase a good or service from a seller. |
| "The new unit will save 4.2% in energy and | | | | Selling is fundamental to all commercial life. It is an |
| maintenance expense over our past models, and | | | | elemental form of competition. The drive to try, |
| anything else currently on the market. Won't that | | | | to achieve, to overcome odds is inherent in all |
| look nice on your departments bottom line"? | | | | entrepreneurs. Sales success is the utmost |
| You want to plant seeds that the choice has | | | | confirmation of this desire to test oneself in the |
| already been made based on the value proposition | | | | marketplace. |
| you have detailed for the decider. If you receive | | | | |