A lot of entrepreneurs have amazing ideas of products and services that solve a litany of problems. So, why do most fall short? Most entrepreneurs are great at inventing, but really fall short in selling. The selling part is as important as the inventing part. You can build the world’s greatest mouse trap, but if no one is selling it, no one is buying it, you go broke. Let’s look at the 9 steps to modern day selling.
The 9 steps of Modern Day Selling have changed in the last decade:
- Trust-You must build trust with your audience. If your product seems “iffy” and you are less than trustworthy, it will be difficult if not impossible to sell your product. Remember you must be as credible as your product.
- Talk-When talking with your prospective buyers and customers the 80/20 rule applies. They talk 80% of the meeting and you talk 20% of the meeting. You must learn to listen to the prospects needs and concerns in order to be effective in selling. Never be afraid to adjust or change.
- Transparent-You must be clear, concise, honest and be able to simplify what your product or service does for them. Albert Einstein once said “if you can’t explain it simple, you don’t understand it well enough.”
- Energy-It is your job to bring the energy and excitement to the meeting, not the other way around. If you are not excited about your product or service, why should they? Even on the phone, it is important to stand and smile when speaking. Your physiology changes when smiling and standing and it comes through in your voice inflections.
- Positive-You must be an optimist to start a business. Without pure optimism, enthusiasm and maybe even a bit of naivety, the entrepreneur cannot and will not succeed. You must have a driven belief in what you are doing to overcome the many obstacles you will face.
- Know Your Market-You must know the audience you are selling to and stay in your lane. The idea of “selling ice to eskimos” is not the winning combination. You are looking to grow your business. You must present to qualified prospects in order to succeed.
- Follow Up-It has never been easier for salespeople to follow up with prospects. It is your job to follow up with them, not the other way around. There are CRMs, email, social media, texting, phone calls, voicemail and snail mail. There is no excuse not to follow up. Be effective, what is your prospects preferred method of communication, not yours? Then use it.
- Time-Prospects operate on their time schedule not yours. Give them time and space to do their diligence to make the best decision about you and your product or service. This is where satisfied customers come from. Satisfied customers give you referrals that is where good customers come from. See the cycle?
- Know Your Numbers-For success it is important to know your closing ratio. How many “Nos” lead to a “Yes”? This statistic is what drives sales professionals. When you know this number you can accurately predict your sales, which is crucial to inventory and production.
Practice the 9 steps to modern day selling and become the success you deserve to be today.
“Change before you have to.” – Jack Welch
Image by Master isolated images at www.freedigitalphotos.net
Tim Wilhoit is owner/principal of Your Friend 4 Life Insurance Agency in Nashville, TN. He is a family man, father of 3, grandfather of 1, entrepreneur, insurance agent, life insurance broker, salesman, sales trainer, recruiter, public speaker, blogger, author and team leader with over 28 years of experience in sales and marketing in the insurance and beverage industries.