Concepts Flashcards
4 Types Of Leverage
- Labour
- Media
- Capital
- Code
Essential traits for a successful entrepreneur
- Influence (Power)
- Drive (Push or Pull)
- Impulse Control
- View Inputs/Outputs
Sales Ethics
- Helping someone make a decision to help themselves does not mean buying from you.
- It means keeping them and putting their goals at the centre of the decision
- You should be happy if someone makes a decision for themselves, independent of whether they choose to work with you or not – This is the secret superpower
- You understand how to make “high stakes” decisions and how to help your prospects do the same.
- In order to best serve them.
Obstacles vs Objections
Obstacle: A thing that blocks one’s way or prevents or hinders progress. When YOU disagree with something the prospect says
Objection: An expression or feeling of disapproval or opposition; a reason for disagreeing. When THEY disagree with something you said.
The person must really want the goal and believe:
o The product will get them to their goal, the way they want to get there.
o You, and others will support them
o It will work for them, not just everyone else.
3 Sources That We Give Power To (The onion of blame)
- Circumstances
- Others
- Self
Time
“Now isn’t a good time” “I’m too busy”
1. Macro (Seasonal)
2. Micro (Hour by Hour)
3. When/Then Fallacy
Value
“I can’t afford it”
1. Why a lot is good
2. Why it’s not a lot
3. What’s money good for
4. Why you don’t need money
Fit
“I’m not sure if it’s for me”
1. New identity, new priorities
2. Pain of change
3. Hypothetical
Lack Authority
“I have to talk to my business partner”
1- Isolate & collapse foil
2- Realisation you never needed permission
3- Realisation they’ve already given you permission
Avoidance
“I need to think about it”
1. Past
2. Present
3. Future
Logical Proof
You must provide proof that it is more logical to believe than to not believe.
Core elements of the Straight Line System
- The prospect must love your service/product
- The prospect must trust and connect with you
- The prospect must trust and connect with your company
- The action threshold - your prospect must be at a level of certainty on each of the three tens to be willing to buy
- The pain threshold - Pain is the ultimate motivator
Objections
Smokescreens for uncertainty
Arguments
To win an argument, poke holes in their conviction. Ask questions.
Mind (Seeks out 2 things)
- Survival
- Save energy
- When confused or under stress, the mind chooses the path of least resistance
External Urgency
- Prospects moving on fast-action bonus.
o (Discounted service to have your prospect make a decision right there on the spot) - If you can’t get the prospect to feel 100% sold on the idea to close the deal you can add a fast-action incentive (external urgency strategy) or some discounted offer to fill up the remaining % of the prospect’s decision making feeling.
Internal Urgency
- This is extremely strong but difficult to master.
- A great closer makes people feel like they want to take action.
- This is created through opportunity cost and doubt. Not making a decision would be more painful than making a decision
Why urgency matters?
Not making a decision would be more painful than making a decision
By nature people avoid making decisions because they don’t want to be responsible for when something is unsuccessful.
Flip it to them that a lack of action is more painful than taking action
5 Stages Of The Sale (Non-NEPQ)
- Rapport Building (2-3 minutes 50%/50%)
- Discovery (Bulk 10/90%)
- Transition (5 minutes 60%/40%)
- Pitch (5-7 minutes 90%/10%)
- Close (As needed 75%/25%)
C.L.O.S.E.R Framework
Clarity, Label, Overlay, Sell, Explain, Reinforce
Clarity
- Why are they on the call?
- What problem are they trying to solve?
- What goal are they trying to accomplish?
Label
- Label them with a problem
- They jump on the call for a reason, find it and label them with it
Overlay
- What else have they tried?
- How long have they tried it?
- Why hasn’t it worked?
- What’s missing?
Sell
- Sell results, not the process
Explain
- The real sale begins here
- Explain away their concerns and objections
Three things: - Can the product/service meet your needs?
- Do you want to work with us?
- Access to funds or know someone that does?
Reinforce
- Reinforce their decision
- Relationship build
- Follow-up
Tonality
Human Communication
* Tonality 45%
* Body Language 45%
* Words 10%
- Conviction will correct your tone
(Belief is vital)
Objection Handling
- Isolate and confirm
- Reason and relate
- Loop back, explain and reinforce
- Ask again for the order
Who wins the sale?
The person who cares the most about the buyer’s interest (You care more than they do)
1st 4 seconds
*Sharp as a tack
*Enthusiastic as hell
*Master of the craft
A Seller…
Is a consultant/advisor, not a teacher. His job is to make a prospect question their beliefs, not educate
Stories (Analogies)
In order to close, use stories to describe what the results will look like.
Only pitch…
…when you KNOW that you can close.
To be a high-level leader…
…requires people to dislike you. Always.
Confidence
Belief + Competence
Most Important Phases Of The Sale
*Problem
*Goal
*Emotional Driver
*Cost of Inaction
Cost of Inaction
Is of not achieving goal, not resolving problem. This creates urgency
10 Tips When Starting
Get reps
Find a style and go deep
Get a mentor
Review, Review, Review
Track your data
Know when enough is enough
Collaboration not confrontation
Cash collected, not contract value
Humility
7 Stages Of The Sale (NEPQ)
Connection
Situation
Problem Awareness
Solution Awareness
Consequence
Transition
Committal
Calibrated Questions
Open ended questions. Gives person the illusion of control. Buys you time.
Loss Aversion
People are more likely to avert a loss than to achieve an equal gain
Negotiation
Communication w/ results. The heart of collaboration. Makes conflict meaningful and productive for all parties.
Mirroring
Repeat back a few words
Labelling
Verbalize how they are feeling
Strategic Silence
After a mirror or label. Let them fill the silence.
Accusation Audit
List/Express the negatives of the situation/yourself out loud early on. That way they cannot be used against you later on.
Getting a “No”
Get a no then work to a yes rather than vice-versa.
Active Listening
Actually listening to what they have to say and flowing off of that. Rather than thinking about what to say next.
Tactical Empathy
Understanding the perspective of others. The foundation of effective communication.
