THE 80/20 RULE OF ACTIVE LISTENING

THE 80/20 RULE OF ACTIVE LISTENING

Don’t you just love all of those 80/20 rules? It seems like you can find them in any area of human endeavor. (My favorite is in that in any organization, 20% of the people do 80% of the work.) In sales, there are several applications of the 80/20 rule, but the one I want to address today is the 80/20 rule of listening during a sales call.

The problem with most sales calls is that the sales rep just won’t be quiet and listen to the customer. Ineffective sales reps have deluded themselves by the notion that if they just keep talking about how wonderful the product is and how great the deal is, the customer will see the light and sign on the dotted line. Unfortunately, this attitude ignores a couple of important sales principles: 1) customers usually only buy a product if they are convinced it will meet an important need in their lives, and 2) sales reps will never discover what the customer’s needs are if they spend all their time talking. In order to sell, sales reps first need to learn how to listen; specifically, they need to learn how to practice active listening.

The most important principle of active listening is to concentrate all your attention and energy on the task of listening to and understanding what is being said to you. The 80/20 rule of active listening says that in any sales conversation the sales rep should spend 80% of the time listening and only 20% of the time talking. In the vast majority of cases, the customer doesn’t want to know what you think, he wants to tell you what he thinks, how he feels and what he needs. The more you talk, and the more you concentrate on thinking about what you are going to say next (instead of fully listening to the customer) the more likely you are to miss important information or clues that you could use to truly help him. As a result, you may offer the customer a solution that makes sense to you but not to him. You may miss the opportunity for an important sale. You may even end up offending the customer and losing him for good. It is imperative that you stay fully engaged in listening to him and gaining a complete understanding of the meaning of his message to you, in order to effectively respond to his needs.

Sharpen Your Active Listening Skills

Active listening is nothing more than a conscious commitment to focus your attention on your customer instead of on your self or your surroundings. This begins by adopting the goal of actively listening and paying attention to everything the customer is saying (even if you thing she is a nattering old biddy that is just wasting your time.) Listening is the only way to learn the important things you will need later in order to match the customer’s needs with the right solution. Block out every distraction and focus all your concentration on trying to understand what this person really values, what she really wants, what she really needs, and what you can offer her that she will truly value. If nothing else, remind yourself that the ability to meet your quota for this month may be connected to your ability to maximize the profitability of this call!

If you are committed to the goal of active listening, then there is an easy-to-learn skill that can significantly improve your effectiveness as a listener. It is referred to as reflecting or mirroring, and it simply means to listen carefully and then repeat back to the customer whatever it is that he just said to you, more or less word-for-word (it doesn’t have to be perfect). The value of mirroring is that the only way you can listen intently enough to retain such detailed information is to block out everything else. Mirroring automatically neutralizes most distractions. It works like this:

Customer: We really need to find a different source for sodium hydroxide. It is a key component in practically every product we make, and we have been using the same supplier for years, thinking that a strong relationship would guarantee a consistent source. But lately, they have just been taking us for granted. They keep raising the price and hitting us with extra fees on top of that. They are also starting to limit the size of our order unless we commit to big, long-term contracts. The worst part is that we rarely ever get a personal contact from the sales rep anymore. I feel like they are gouging us and then ignoring us because they think they can get away with it.

There was a lot of information there, and it is all important. How can you make sure you will capture it all? It starts with mirroring and it goes like this:

Sales rep: Let me make sure I understand exactly what you are saying. It is very important to you to have a dependable source for sodium hydroxide, because it goes into everything you make. You thought you had that supply locked in through a long-time relationship with your current supplier, but lately they have been taking advantage of the relationship by ignoring you and gouging you. Did I get that right?

In mirroring, you start out by saying, “Let me make sure I understand exactly (what you are saying, what your situation is, what has been happening, what you are looking for, etc.). Then just reflect back to the customer the essence of what he said to you and close with some version of “Did I get that right?” He will either say yes (and probably continue to explain his situation in even more detail), or he will say no, and go back and clarify what you missed. Be sure and also reflect back to him whatever clarification he makes to you, so you both stay on the same page. Mirroring keeps you listening, and leaves you very little time or opportunity for getting distracted.

Now all you have to do is summarize the customer’s need in one simple statement, like so: It sounds to me like you are not only looking for a dependable source of sodium hydroxide, but you also need it provided at a fair price by someone who will take the time to listen to you and work with you as a valued partner instead of viewing you as a paycheck. Am I right about that?

Now, you are ready to sell the customer something he is ready to buy.

Author:

By James A. Baker
Founder
Baker Communications

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Proven Strategies to Work with More Buyers in Commercial Real Estate Brokerage

Proven Strategies to Work with More Buyers in Commercial Real Estate Brokerage

city at sunriseThe investment segment of the commercial property market can be very lucrative and rewarding for brokers and agents. There will always be investors seeking to acquire, improve, and dispose of commercial, retail, or industrial assets.  (NB – you can get more client and investor tips in Commercial Real Estate Snapshot right here)

If this is an attractive part of the property market for you, then target the right people.  It is necessary to work closely with several investors to understand their focus, targets, and their challenges from a property perspective.  Get closer to the people so you can offer the specialised services that they require.

Business Momentum

The essential idea here is that you can achieve a good degree of momentum as an agent or a broker in your property market through working with investors and local property owners. As they seek to change or improve their assets or portfolio over time, you can be the solution and provide the specialist services to help them. Specialisation in a property type and specific location is a key to the process.  How do you rank on those assessments?

Before going too much further here, it can be said that you can work as a buyer’s agent, in direct contrast to the typical seller’s agent approach. Make your choices in commercial real estate and specialise; know who your clients are by category and location.

 

Your Client Focus

It is time to focus on buyers of property as clients.  Here are some ideas below to help you work with more local property buyers and in doing so provide expert opinion and assistance:

  1. Location specific – get to know the properties and owners of assets in prime precincts and desirable locations. It is far easier to generate good quality sales activity from a specific and deep concentration into the prime property precincts. Those agents that spread their efforts too far usually fail to convert the business. There are just too many things to understand when it comes to prices, rents, supply, and demand.
  2. Local area zoning – get copies of the local development plan so you understand where the best zones may be for longer term investment and or development opportunity. Focus your prospecting into those prime zoning precincts.
  3. Passing income and property values – when you understand the levels of market rental in a location and the passing rents for a property, you can relate those numbers to the yield expectations or capitalisation rate for the area. The question will then be, is the property comparable to the expectations of local property investors and market in general? How does the subject property compare to the prevailing market conditions?
  4. Tenancy mix – when you are working for investors as buyers of investment property, the tenancy mix will be critical to the future of the asset and the cash flow. The tenancy mix therefore needs to be investigated and reviewed comprehensively. The best way to do that is to inspect the property physically, and then review all the lease documentation. Go deeply into each lease given that the separate terms and conditions can impact the property cash flow and the lease occupancy. Some leases will be stronger than others when it comes to property investment. You need to see the differences.

So, there are some things that you can investigate here as part of working as a broker or an agent for local property investors in the purchasing process.

Be aware of the ‘industry averages’ when it comes to the different property types of office, industrial, and retail. Also, be aware of the averages that apply to the precinct and the classifications or ages of the assets.

When you know these numbers, it gets a lot easier when it comes to you working with commercial and retail real estate buyers.  Your commercial real estate listing pitch and or negotiations can be based around provable facts and numbers.

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    The 5 Pillars Of Real Estate Agent Success!

    The 5 Pillars Of Real Estate Agent Success!

    How To Prepare For Success As An Agent – Every Tool You Need For Leads, Listings & Sales

    Success is nothing more than a well thought out plan. The key to success as an agent is to have an understanding of the business. However for most agents they lack the basic knowledge required to create their success plan.

    The purpose of this real estate training article is to outline the major areas you must develop to experience success as an agent.

    The 5 Pillars Of Real Estate Success
    1. Lead Marketing
    2. Listing Marketing
    3. Referral Marketing
    4. Database Marketing
    5. Personal Management

    You Must Have A Strategy For Each Pillar: Within each of these pillars you must have the tools required to experience results. Allows us to outline what these tools are for each pillar.

    1. Lead Marketing:

    You need to have a marketing strategy that encourages prospects to want to contact you. However, the contact method CANNOT be only by telephone – since prospects do not like to call salespeople.

    Therefore you need to offer a more comfortable lead contact method, such as:

    A. Family web sites
    B. Landlord web sites
    C. Yard Sale web sites
    D. Car Sale web sites
    E. Home buyer reports
    F. Home deals reports

    2. Listing Marketing:

    How do you get listings this week? How to you maintain a steady stream of listing leads? By using listing tools, such as:

    1. Free web sites for For Sale By Owner Marketing
    2. CMA web site
    3. Listing report web site
    4. Sold report web site
    5. Home Seller report web site

    3. Referral Marketing:

    Imagine investing your time and money to harvest leads and then to see those leads all fall through the cracks only because you did not communicate with them. That’s exactly what happens with agents and their leads.

    • Research proves you must keep your name in front of leads at least 3 times per month in order for them to do business with you.

    You will want to have the following tools within your referral marketing plan. Each tool is used as a reminder to your database of who you are and what you do.

    1. Newsletter web site
    2. Just Listed web site
    3. Just Sold web site
    4. Personal Portfolio web site
    5. Agent web site
    6. Internet homepage for leads and clients

    4. Database Marketing:

    How do you stay in touch with your leads and clients? You will need a database that allows you to bring all your tools under one roof. That database must be email delivery based. The database must also automatically harvest lead contact information, including their email addresses, and then deposit such information automatically into your database.

    5. Personal Management:

    Your success will be frustrated if you are not organized for success. Your entire real estate business must be contained inside one easy-to-use software solution that allows you to manage your success.

    What Do We Recommend?

    Consider our online solution called SREP7 and IDX10.com. Both do all of the above within one solution. You can lease it on a month-to-month basis. Just visit this site to learn more:

    http://www.leadsthisweek.com

    http://www.idx10.com

    Real Estate Training Article Summary

    Success can only be realized by understanding what you must do to achieve success. Then you need to support that understanding with the right tools to get the job done. The last ingredients of success are diligence and patience. And only you can supply these critical success tools to your business.

    Author:

    Randy Roussie

     

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    Commercial Real Estate Brokerage – Help the Client See and Use Your Valuable Services

    Commercial Real Estate Brokerage – Help the Client See and Use Your Valuable Services

    When it comes to pitching and presenting your real estate services to a new client, you have to tap into the real value that your services provide to the property, the clients investment situation, and any challenges that they may have.  Look for the issues that need to be resolved, and show the client exactly how you would approach the process professionally and directly.

    When you analyse any property presentation, you will see large differences that apply across the competing brokerages given the facts and the ideas evolving from the property market.  Many brokerages will have different ideas and recommendations to make in attracting the interest and the commitment of the client.  Your ideas and your recommendations need to be the best and highly relevant and specific to the client situation.  When you understand the client and the property, you have a better chance of converting the listing.

    Property Presentation Facts

    Typically, a good property presentation will be structured around the following facts and ideas:

    • Market conditions – The prevailing market conditions should be comprehensively assessed so that they can be quoted and referred to in the proposal document. Check out all of the competing properties locally so that you can show the client exactly how their property is positioned in comparison to others.  The comparison should cover price, improvements, marketing strategy, time on market, and the targeted tenant or buyer as the case may be.  From the comparison, certain strategies can be made and related back to the specific target audience that you are trying to attract.
    • Marketing initiatives – There are many marketing alternatives and initiatives to be used when it comes to property promotion today. Look at the combination of marketing to be applied to the listing and provide the client with three alternatives both in media choices and pricing.  Many clients prefer to have a few decisions to consider when it comes to property marketing and thereby brokerage choice.  The best proposals presented to clients will have specific market observations and a few marketing choices for the client to consider in this way.
    • Price and or rental – Many clients are biased towards the end result that they believe can or should be achieved in a timely way. They want to know that they can attract the best price or rental in the property market given the prevailing market conditions; you will need to talk about the prevailing market conditions and how they will impact the property listing in today’s terms.  It is your job to show the client how you are the best agent to achieve a positive result, and show them the marketing stages and strategies that you believe should apply to the promotional process, the inspections, and the negotiation.

    The message here is that you can really drill down into the facts and the issues surrounding any commercial property listing and promotional activity.  You can show the client that you are the best agent for the job in today’s property market, providing you do the research and understand the listing in a comprehensive way.

    Resolve Their Property Challenges

    Show the prospective client the value and professional services that you bring to the promotional process, and how you will be resolving the property challenge in a specific and timely way.  Be specific and direct when it comes to marketing initiatives and attracting the target audience.

    There are reasons behind the clients need to sell or lease their asset.  Delve into those reasons and ask plenty of questions.  Identify the reasons and then drill down into the solutions that you would provide differently and directly when compared to your competing agents.

    Your solutions should be quite specific and direct in today’s market terms.  Show the client that you are a valuable addition to their property and its marketing requirement.  That’s what top agents do all the time.

    Commercial Real Estate Training

    John Highman

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      The Telephone As A Prospecting Tool For Agents!

      The Telephone As A Prospecting Tool For Agents!

      We are going to discuss the telephone and how you can use it as an effective prospecting tool.

      Callers Qualify Automatically

      How do they qualify themselves? They do so by answering certain questions you ask of them on your pre-recorded message or from the request form on your request site!

      Allow me to say a few words about the phone system you’ll need to get first. Call your local telephone company and see if they offer this kind of service. If not, you can purchase a phone system that does this as well. (That’s what I had to do.)

      You need to be able to offer 4 phone options immediately after they give you the details about the kind of home they want.

      These 4 options allow you to understand the prospect extremely well. You will know their level of urgency� or what is better know as motivation. Also, you will know if they are already listed or not. Now if they are, I did not even bother to prospect them since they already were working with a Realtor. But for the ones who said they needed to sell before they bought� WOW!� listing time!

      Your Message

      Allow me to now give you the message you’ll leave on the phone for them to hear and respond to when they call.

      “”” Thank you for calling “The Top 5 Best Priced Homes In Any Price Range” hotline! Through this FREE service, you get your hands on the BEST HOME DEALS matching your home buying needs! And here’s how this FREE service works! At any time, there can be as many as 5000 homes on the market. Many are over priced, most are priced fairly, while a precious few represent GREAT buys that can save you 5, 10, even 15 thousand dollars! By using this hotline, you have the advantage over other home buyers because you will know the best deals first� whenever they come available! In a moment you will be asked to provide a brief description of the kind of home you want. After you leave us this description, we will mail to you the 5 best home deals in town matching your home description. It’s that simple! To help us find your Best Deal as quickly as possible, please listen to these 4 options and choose the one that best fits you. “””

      Option 1: If you are planning to buy a home in the next 30 to 60 days, press 1 now.

      Option 2: If you are not in a rush but plan to buy a home over the next 6 months, press 2.

      Options 3: If you need to sell a home before you buy your next home, press 3.

      Options 4: If your home is currently listed for sale with a Realtor, press 4.

      (What I am about to write is not in the message. I am just going to speak to you, the Realtor, for a minute.)

      So what do you, the Realtor, say within each option?

      This same message.

      “”” Thank you! Please describe to us the kind of home you want. Please include the number of bedrooms, baths, the price you want to pay, and the area you would like to live within. After you are done describing your home, please leave your name, address, and telephone number so we can mail the Best 5 Homes Deal report to you ASAP. “””

      Why Is It The Same?

      It doesn’t need to be different! Because at the start of each day, you can go to your message manager and see if there are any calls, and know about their qualification based upon which Option Number the call was left with. Isn’t that great!

      Also, You Want To End The Calls With This Message

      “”” Thank you for calling this incredible FREE SERVICE! Your hot deals will be mailed to you today! “””

      Step 3: You Return Their Call or Email As A Service Call To Them!

      Now here’s the great thing about this system. Before you mail or email the information to them, you do a service call and double check the information with them. This gives you the personal touch that is needed to begin the follow-up program with them!

      Training Article Summary

      Now that’s a system that is easy to implement and works with any form of advertising.


      The Fact is that 95% of Small Business was not Prepared for the Pandemic.

      Our Clients Were!

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      Your Success is Our Number 1 Focus.

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      How to Set Career Goals in Real Estate

      How to Set Career Goals in Real Estate

      real estate career goals

      How to Set Career Goals in Real Estate

      Setting career goals in real estate takes time and reflection. You need to step back, imagine your future in a way that you can summarize in one to two sentences. Then, you must translate this vision into actionable objectives.

      The modern real estate agent is always on the go. On a daily basis, she has homes to show, clients to meet, open houses to host, and paperwork to complete. Not to mention, that the industry is in the middle of a historic shift toward the web, and she now takes on additional web admin and social media duties.

      With all these demands, it can be hard to step away to look at the big picture. This is a shame because taking the time to set goals has been shown to increase success in a variety of professional pursuits.

      In this article, we’ll cover the 6 steps to create strong career goals as a real estate agent. All you need to do is make the time.

      Steps to Set Career Goals as a Real Estate Agent:

      1. Imagine Your Future

      2. Create A Vision Statement

      3. Create Goals for the 5-year Horizon

      4. Create Goals for the 18-Month Horizon

      5. Use SMART to Set Specific Objectives

      6. Write Down Your Goals and Objectives

      Career Goals

      Imagine Your Future

      For many, this initial step is the hardest. Before you set a goal you must be able to visualize yourself succeeding in that goal. If you can’t see it, it won’t seem possible.

      So take some time—close your eyes if you have to—and think about yourself in the future. Try to imagine your most successful self. Here are some questions to guide you.

      • Visualize a typical workday. Where are you and what are you doing?
      • Imagine a conversation with a friend. How do you describe your work to him?
      • Think about a work party. What are you and your colleagues celebrating?
      • Who are your peers in the industry? Who do you admire?

      After 10-20 minutes you should have a pretty good idea of your vision for yourself. Now it is time to put it into words.

      Create a Vision Statement

      A vision statement is a one to two sentence summary of where you see yourself professionally in the future.

      It should include as much as possible from what you imagined in the previous step without over burdening it with details. You want a simple, broad outline that focuses on the “what.” We’ll get to the “how” in later steps.

      Some good vision statements are:

      “I want to manage the leading real estate group for ranch and land in Cameron County.”

      “My career vision is to implement a new sales model that lowers fees for clients and increases volume for the brokerage.”

      “My vision is to specialize in condo sales in the Dana Point area until I have enough experience to break into the luxury market. “

      LUKE’S TIP: 

      Organic IDXCreate Goals for the 5-Year Horizon

      In the next steps you should set out long-term and short-term goals, as well as the objectives necessary to achieve each. Before continuing, however, it may be useful to explain the difference between goals and objectives and how they relate to vision.

      A goal is a general plan to achieve a vision. An objective is a specific step that should be completed to reach a goal. Both are necessary.

      Consider a travel analogy. You want to drive across the country. This is your vision, a broad outline of what you want to do. But you can’t do it in a single day, so you set out some rest points. You plan to spend the night in Ohio, Iowa, Colorado, and Utah before arriving in California. These are your goals, general descriptions of the steps you need to take to achieve your vision. The objectives are the driving instructions, the specific tasks that need to be completed to reach your goals.

      You can also think of vision, goals, and objectives as a pyramid with one vision at the top, a few goals on the next level down and several objectives on the bottom level.

      So, now you should create long-term goals for the 5-year horizon. Some good examples are:

      “Complete the management training necessary to start a new real estate group.”

      “Become the top-selling agent at my brokerage.”

      “Implement a social media strategy that results in my listings being the most shared in the area.”

      Create Goals for the 18-Month Horizon

      Of course, five years is a long way off. Many things could change between now and then. So to make sure you progress down your intended path, you should create short-term goals for the next 18 months.

      Some good examples are:

      “Complete the requirements to obtain the Accredited Land Consultants designation.”

      “Design and launch a new website with improved SEO value.”

      Use SMART to Set Specific Objectives

      In this phase, you should set out the specific steps necessary to achieve each of your goals. Aim for two to three objectives per goal. While developing your objectives, you should use the SMART construct. SMART is an acronym for specific, measurable, attainable, reasonable, and time-bound.

      SMART

      Specific

      You can make your objective specific by including as much detail as possible. Consider the following:

      A) Take a course in social media marketing.

      B) By July 1st, complete with a 90% passing grade or higher in the Writing for Social Media online course offered on edX.org.

      Objective B is better than objective A because it is more specific.

      Measurable

      A goal is measurable if it can be quantified. This will help you be able to say with certainty if you have achieved it or not.

      C) By Aug. 30th, increase my monthly average website lead capture rate by 6 percent by integrating an improved CRM into my lead cultivation procedures.

      D) Improve lead capture on my website.

      Objective C is better than objective D because it is more measurable.

      Attainable

      Creating unattainable objectives sets you up for failure. Your objectives should push yourself but not to the brink.

      E) Sell properties worth $750,000 in my first three months.

      F) By the end of my third month, complete all required shadowing, training, and assisted sales, and communicate my readiness to take my own leads.

      Objective F is better because E may be unattainable.

      Realistic

      You objectives should remain within the realm of possibility.

      G) Improve upon last year’s sales, while starting a full time MBA program

      H) Within three months, go to coffee with at least five successful agents and listen to their strategies for improving sales year to year.

      Objective G is pretty unrealistic.

      Time-bound

      No objective is met without a deadline, so make sure you include them.

      I) By Oct. 30th, complete the necessary pre-licensing courses and receive a passing grade on the New York state real estate exam to earn my real estate license.

      J) Get my real estate license this year

      Objective I is better its time period is more explicit.

      Write Down Your Goals and Objectives

      You real estate career goals are now set. All you have to do is write them down. This will allow you to refer to them and check your progress.

      The next step is to put together an action plan to achieve your goals and objectives, but we will cover this in a later blog.

       

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          5 Incredible Sales Lessons from Dale Carnegie

          5 Incredible Sales Lessons from Dale Carnegie

          To stand with the best, you have to learn from the best. Take these sales lessons from Dale Carnegie and get one step closer to the top.

          One thing that all great salespeople have in common is an uncanny ability to influence people. There is perhaps no greater example of this than Dale Carnegie, author of the famous book, How to Win Friends and Influence People. Although the book was first published in 1936, Carnegie’s social and sales lessons remain relevant today not just to salespeople, but to anyone looking to connect with more people.

          sales lessons

          Who was Dale Carnegie?

          Born to a family with little money in Mississippi in 1888, Carnegie saw his share of struggle before becoming a national success. He grew up on a farm and eventually made his way to a small college, after which he acquired his first of numerous sales jobs.

          After a successful sales career, Carnegie went on to become a public speaker, developing courses that taught people how to have more self-confidence—courses that translated nicely into sales lessons. Years later, he would write his world-famous book, How to Win Friends and Influence People, which remains a best-seller today. Dale Carnegie Training still exists as one of the leaders in sales and leadership training, as well as presentation and other corporate training.

          What set him apart? Carnegie understood that influence starts with relationships. He knew that if he wanted people to engage with him, they needed to feel connected and important. This led to one of his foundational sales lessons: the secret to success is to be genuinely interested in other people.

          Not only did Carnegie pride himself on being interested in others, but he was also nonconfrontational. He wasn’t pushy or aggressive. He sold by understanding his audience and finding solutions for them. Unlike other greats, like David Ogilvy and Joe Girard, who focused more on technique and volume, Carnegie’s sales lessons had everything to do with effective communication.


          lead-managerlead-manager


          sales lessons

          How to Win Friends and Influence People

          Much of Carnegie’s book stemmed from that same approach. In it, he talks about how to avoid conflicts, how to create interest and intrigue, and how to demonstrate empathy to foster communicative relationships.

          “When dealing with people,” he writes, “remember you are not dealing with creatures of logic, but with creatures bristling with prejudice and motivated by pride and vanity.”

          People act primarily on emotion, not logic. If you speak to that emotion, you will have a better chance of reaching people than if you merely attempt to reason something out.

          The book includes many other useful tips for influencing people. While there isn’t room for all of his wisdom here, we’ve plucked a few key sales lessons that will help you construct a foundation on which you can build a practice that roots the majority of its success in empathy.

          Lesson #1: Become genuinely interested in other people

          “To be interesting, be interested.”

          Nobody wants to hear someone drone on about themselves. Ask questions, demonstrate interest, and you’ll become all the more interesting yourself.

          Lesson #2: Make the other person feel important, and do it sincerely

          “If some people are so hungry for a feeling of importance that they actually go insane to get it, imagine what miracle you and I can achieve by giving people honest appreciation this side of insanity.”

          Feeling important boosts self-confidence, and the newly self-confident will view their praiser in a very positive way.

          Lesson #3: The only way to get the best of an argument is to avoid it

          “You can’t win an argument. You can’t because if you lose it, you lose it; and if you win it, you lose it.”

          Arguments are conflicts, and conflicts build walls instead of bridges. If someone disagrees with you, don’t press your point. Instead, show them you value their opinion, then work towards a common ground.

          Lesson #4: Arouse in the other person an eager want

          “Why talk about what we want? That is childish. Absurd. Of course you are interested in what you want. You are eternally interested in it. But no one else is. The rest of us are just like you: we are interested in what we want.”

          If the other person doesn’t want something, you’re going to have a hard time selling it to them. It’s not about you wanting the sale; it’s about the prospect wanting a solution.

          Lesson #5: Give honest and sincere appreciation

          “The difference between appreciation and flattery? That is simple. One is sincere and the other insincere.”

          Flattery feels contrived, and that puts someone on their guard. Demonstrate instead a sincere appreciation for the person, and the time they’ve given you. It may not result in an immediate sale, but it will likely make you a new acquaintance, and sometimes that’s just as good.

          by  

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            The Truth About How To Have A Winning Sales Personality

            The Truth About How To Have A Winning Sales Personality

            Do you ever wonder why one prospect is practically “eating out of your hands” while another can’t seem to wait for you to leave? This article will reveal why you shouldn’t treat all prospects the same and expose “The Truth About How to Have a Winning Sales Personality.”

            There is one simple, but often overlooked, personality characteristic that is vital for sales success. This one thing, however, is perhaps one of the most elusive qualities for salespeople to master.

            Most salespeople don’t actively work to develop this capacity and many are completely unaware of just how vital this personality trait is. That’s because they have been brainwashed to believe a myth that has been making its way around the world of selling for about as many years as there have been professional salespeople.

            The myth is that there is such a thing as a winning sales personality – and only someone with that personality can be successful at selling. Salespeople have often been led to believe that if they can just be outgoing, friendly, persuasive and even glib, that they will automatically enjoy success in selling.

            Fortunately, it’s just that – a myth.

            Lots of organizations perpetuate this myth by hiring only people who fit this stereotype for sales positions. However, our extensive research with thousands of salespeople reveals that personality type really has very little to do with sales success.

            In some cases, the “right” personality according to the myth is the absolute “wrong” personality in certain situations. In fact, it is possible that personality mismatches often lead to more lost sales than anything else. (We’ll explain this in more detail a little later).

            Our research indicated that successful salespeople weren’t necessarily the extroverted and persuasive “sales type.” But they all did have one all important quality in common.

            So what is the one essential personality characteristic that is vital for sales success?

            It’s flexibility:

            • It’s the capacity to adjust your personality to match the demands of the particular situation in which you find yourself.
            • To empower yourself to blend your personality to be in total coordination with the pace, tone and speed of your prospect.
            • It is not forcing your “dynamic personality” onto a prospect who is cool, distant or removed.
            • It is not talking your head off constantly to a prospect that tends to be quiet and reserved.
            • It is not being distant and cool with a prospect who is warm, engaging and interested in dealing with you in a very personal way.

            What many salespeople fail to understand is that there is a vast difference between being flexible and being “fake.”

            It’s not a matter of putting on a fake personality – it’s simply a matter of letting your prospect set the tone for the meeting.

            Let’s look at it from another angle. Think about how you dress for a sales call. Most salespeople would agree that it’s important to look as professional as possible. But, the best bet is to also make sure that you blend in with the way your prospect and other people at that organization normally dress. In other words, no matter what “the real you” likes to wear on other occasions, and no matter what kind of dress code your organization observes, when you meet with a prospect, you take your dress cues from the prospect.

            In the same way, you should take your cues on how to behave from the prospect. They’re inviting you into their environment to see if you can be of service to them. No matter how “the real you” behaves in other situations, in this situation it’s in your best interest to let the prospect dictate how the two of you will interact.

            Of course you’d make a terrible impression if you dared to show up in an executive’s office in jeans and flip-flops. But many salespeople aren’t aware that their behavior can have the same effect on a prospect if it doesn’t match the way the prospect likes to interact with salespeople or the way the prospect likes to buy.

            For example, many salespeople believe that the best way to develop rapport and make a good first impression is to be very enthusiastic and friendly. That usually works well if they’re meeting with someone who likes to interact that way.

            But the exact same behavior makes a very different impression on a prospect who likes to be more formal and deliberate in dealing with salespeople. They might instantly start to feel uncomfortable because to them it seems like the salesperson is talking too loud or too much or standing too close…

            Just about every salesperson has had this experience… you meet with one prospect that just can’t seem to get enough of you, you say and do all the right things and they can’t wait to schedule another meeting with you to get the sale rolling. Then you meet with your next prospect and you say and do the exact same things and somehow the whole meeting seems to fall flat.

            There could be many explanations, but assuming you’ve qualified them both beforehand, there’s a very good chance those two prospects simply like to buy differently. You approached one in the way that they liked to buy. You approached the other the exact same way, but that’s not how they wanted to interact with you.

            This is where your ability to be flexible can really pay off. You have to realize that it’s your prospect’s meeting – you’re a guest on their turf. If you want them to be receptive of you, you should look to them to figure out how to conduct yourself once you’re there.

            Let’s take a look at how you can use this knowledge to your advantage. Here are 5 tips to help you immediately:

            1. Approach every prospect in a way that allows you to adjust to their style, speed and demeanor. Don’t force them to adjust to you.
            2. Do as much advance groundwork as possible to learn the fundamental personality style of your prospect before you ever get in front of them.
            3. Even when you suspect that you know your prospect’s basic style, approach them in a neutral way until they exhibit that fundamental style. Then adjust to them. Don’t assume that your pre-call work is correct or that they are comfortable enough to display their “real” personality to you early in the sales relationship.
            4. Constantly look for clues that will characterize the most essential characteristics that your prospect is looking for in you in terms of:
              * Formality versus informality
              * Results versus process
              * High energy versus lower energy
              * A positive/optimistic outlook versus a negative/cautious outlook
            5. Consistently do your best to match the characteristic that best reflects the behavior that your prospect displays. The reason for that is quite simple. People look for those characteristics in others that they, themselves, see as strengths that they possess and admire.

            It’s really a matter of using your insight and understanding of others to do a better job of building trust and rapport from the outset. If you can sharpen your intuitive people reading skills to ensure that your prospect feels comfortable, confident, trusting and positive they’ll be far more receptive to what you have to say… AND you’ll have a much greater chance of proceeding with that prospect to the next phase of the sale.

            Authored By: The Brooks Group.

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                How to Give a Successful Elevator Pitch for Small Business Owners

                How to Give a Successful Elevator Pitch for Small Business Owners

                Business networking event

                A great elevator pitch is an essential small business tool. In just about 60 seconds or so, an elevator pitch enables you to tell others the key points that distinguish your business and brand. They’ve been used throughout business history and the best ones help entrepreneurs open the door to funders and investors, engage new clients and gain great publicity.

                In this article, we look at the goals and primary components of an elevator pitch, and share tips to help you create a stellar elevator pitch for your business.

                What is an “elevator pitch”?

                The term “elevator pitch” was coined to define a very brief summary of a business. In essence, it’s the critical information that you’d tell someone if you were taking an average elevator ride with them. The goal is to concisely yet passionately explain what’s innovative about your business and what sets it apart from your competitors.

                For these reasons, an elevator pitch must be compelling – it should stir enough interest in your audience that they offer you an opportunity to go into further detail at a later time or date.

                When do you use an elevator pitch?

                Think of an elevator pitch as a sales pitch that can be used to introduce your business and brand to:

                • Vendors, potential colleagues and employees that you want to engage
                • Potential clients who may be comparing your services or products to your competitors

                What are the essential elements of a great elevator pitch?

                When it comes to a great elevator pitch, they must be brief – about 7-8 sentences, or 100 words – while still covering key information about your business. Finding this balance can be tricky, so we’ve outlined tips to help you get started:

                Provide context:

                Every great elevator pitch should start off simple with a general introduction of yourself, your business and your products or services. Keep this introduction short – about 30 words or 15 seconds – but informative, as the context you provide here will lay the foundation for the rest of your pitch.

                Define the need and describe the solution:

                In about 70-75 words or 35 seconds, tell your audience about a need that you see in the market and how your products or services fill this need. Be sure to include key information about your target market and customer-base, such as key metrics and data points. However, rather than just stating data, try constructing your content as a story or narrative, using real life examples if applicable. This personal connection will effectively engage your audience, and make your business seem relatable.

                Perfect your message and practice your delivery:

                As the saying goes, “You never get a second chance to make a first impression,” so practice and perfect your message and delivery. Here are four important things to consider while creating and practicing your pitch:

                • Spend time writing your elevator pitch. Ensure that you’ve hit on the main points and include a narrative that illustrates how your business can help your target audience. Make sure to save some time at the end – about 10 seconds or less – to restate your main points and leave the door open for future interaction with your audience. And as you’re writing, be sure to avoid industry jargon – you want everyone to understand it – and avoid long words or phrases that could slip you up when you’re reciting it later.
                • Practice it out loud until it’s perfect in content, tone and delivery. Elevator pitches are supposed to be as engaging as they are informative, so it’s important that you speak your message clearly and passionately.
                • Watch your timing. Before pitching to your intended audience, time yourself and make sure that you stick to the allotted time frame. If you speak too quickly, you’ll likely come across as nervous and if speak too slowly, you’ll likely lose your audience’s attention.
                • Purposefully practice your body language to convey confidence and enthusiasm. A great tool to help you is to watch several of the most popular TED and TEDX talk videos. Although these are longer than elevator pitches, you’ll gain an understanding of the body language and delivery tactics that resonate most positively with audiences.

                The power of the perfect elevator pitch

                Your elevator pitch will prove to be an amazing tool to convey why your business is destined for success in just a few sentences. By perfecting its content and your delivery, you’ll always be ready to engage people with a compelling message that excites and interests them to take next steps with you.

                Spend some time working on your elevator pitch, then run it by the business advisors at Pursuit – it’s our goal to help small businesses grow and thrive. We’ll help you perfect your message, obtain funding and find business management resources that support your success. 
                Author:
                https://pursuitlending.com/

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                  How Selling Has Changed in 2020

                  How Selling Has Changed in 2020

                   BY RICHARDSON SALES TRAINING

                  At Richardson and Sales Performance International, we had an opportunity to ask hundreds of sales professionals about the recent changes they have seen in the marketplace.

                  Their responses are a clear sign that the state of selling has changed significantly. Respondents indicated that customer purchase evaluations have changed as perceptions of risk continue to fluctuate. Sales professionals also noted an increase in customer engagement as more selling is conducted digitally. We also learned that many sales professionals are revising their approach to the new circumstances of today by becoming more empathetic.

                  Here, we look at how recent months have precipitated changes to the selling industry. We review our recent findings to understand how these circumstances have prompted new challenges and how forward-thinking sales professionals are responding with an approach that addresses emerging customer needs.

                  The State of Customer Purchase Evaluations

                  The perception of risk among customers has increased. In fact, the perception of risk now pervades every phase in the purchase evaluation cycle. The result: most customers have halted all purchasing activity as they change their priorities.

                  The data shows that 80% of our respondents indicated that at least some of their prospects or customers have delayed or canceled purchase decisions as a result of the pandemic.

                  sales statics trends

                  For most, the new priority is to preserve liquidity. Customers understand that if they are able to maintain their assets, they will be better suited to outlast the current economic crisis. Customer strategies and initiatives are changing to accommodate this new strategy.

                  To gain further clarity on the customer’s perspective, we asked sales professionals, “What worries your prospects and customers most about the pandemic?” Many respondents indicated that their customers are concerned about budget cuts, the timeline of the pandemic, job security, diminishing demand, supply chain disruptions, reduced cash flow, employee safety, and the ability to resume business fast as conditions improve.

                  We also asked sales professionals what they have done in the last two months to adapt their sales efforts to this challenge? We heard that many are:

                  • Engaging in remote selling
                  • Asking customers about priorities, not just projects
                  • Seeking ways to go above and beyond with customers
                  • Demonstrating empathy rather than jumping straight to selling
                  • Finding new and unconventional ways to help
                  • Increasing their engagement with customers to align more with their situation
                  • Adjusting messaging to show how they can be of value to the customer’s situation

                  These actions all share a unifying characteristic: a proactive approach. Waiting for the pandemic to subside is not an effective strategy. Timelines for recovery are uncertain, and customer challenges are changing daily. Therefore, sales professionals must be even more determined in their pursuit of opportunities.

                  The State of Sales Engagement

                  We asked sales professionals if they believe seller engagement will increase, decrease, or stay the same as more selling is conducted digitally. The responses show that 47% of sales professionals in the survey believe that engagement will increase.

                  selling trends

                  The remaining respondents are somewhat divided, with 28% indicating that they believe engagement will decrease and 25% telling us that they believe it will stay the same. This finding underscores the need for sales professionals to provide higher-level insights about the value customers can expect to receive.

                  That is, as seller engagement increases, sales professionals must become even more effective in delivering value in the conversation so that these frequent interactions are worthwhile for customers. While many customers do conduct initial solution research online, they often rely on sales professional conversations to validate their findings.

                  Delivering impactful insights means exceeding anything the customer might find during their own research. Put simply: customers are expecting a higher level of interaction. It is important for sales professionals to remember that offering a meaningful insight does not always need to lead directly to a sale. Many customers will be far more receptive to an empathetic approach during a period of economic difficulty.

                  Increased engagement is more than an avenue to near-term revenue — it is also a way to maintain the fragile relationship with customers. Increased engagement is also a way for sales professionals to maintain the momentum of opportunities that were progressing through the pipeline prior to the pandemic. With increased customer contact, sales professionals can accelerate the progress of legal agreements, pricing options and approvals, and financing. This approach will leave sales organizations well positioned when the global economy begins to thaw and competitive forces surge. Some of the most effective teams are embracing this forward thinking plan by making the choice to:

                  • Exhibit a calm voice of reason and confidence
                  • Remain in contact with prospects and customers and conveying positive messaging
                  • Share useful analysis of trends and developments regarding the pandemic
                  • Offer examples of customers who are moving forward with buying decisions
                  • Demonstrate situational fluency wherever possible

                  The more a sales professional can position their value and the value of their solution as a means for overcoming challenges related directly or indirectly to the pandemic, the more successful they will be in selling.

                  The unprecedented circumstances of today are a rare opportunity for sales professionals to demonstrate their unwavering guidance, insight, and resolve to customers burdened by uncertainty. Doing so means getting proactive about gaining new clarity on the customer’s changed needs and using that information to offer high-level insights unavailable elsewhere.

                  The start and duration of the recovery remain unclear. This uncertainty should not faze sales professionals because no matter how it unfolds, customers will always need the calming presence of a thoughtful professional.

                  ABOUT THE AUTHOR

                  Richardson is a global sales training and performance improvement company. Our goal is to transform every buyer experience by empowering sellers with critical skills so they can create value to buyers and drive meaningful conversations. Our methodology combines a market proven sales and coaching curriculum with an innovative and customizable approach to learning that ensures your sales teams learn, master, and apply those behaviors where and when it matters most — in front of your customers. It’s our job to anticipate change in your industry so that your sales team can focus on fostering long-term relationships, becoming indispensable partners for their buyers.

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                         Small Business CFO

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