At the end of every month, salespeople around the globe complain that their prospects led them on and didn't deliver. Doug F., one of my former bosses used to say this to me all the time.  "Buyers are liars".

While I believe that he didn't mean to accuse all of our clients of being malicious liars, he did mean to say that our prospects may not be giving us all the information that would help us sell the product.

My current boss, Mike H. believes that salespeople just don't ask the right questions, which is why on the last day of the month, we feel mislead by our prospects...he has a point.

There are many reasons why a prospect would mislead a salesperson.

1.  Some people don't like to say no to you:  Throughout the sales process, the
prospect likes you.  They respect you.  They feel bad saying no.  

For example, I have had prospects who say maybe all the time.  They really don't mean it.  What they are trying to say is "Mike, I really like you, but I am not going to buy your product.  I will, however, say maybe, so you don't feel so bad.  One day, you will give up thinking that I tried my hardest"

I do this all the time too.  I don't want to break it to the furniture salesman who spent a ton of time with me showing me all the couches in his store.  Instead of telling him that I will go elsewhere because the price is cheaper, I tell him that I will call him next week.

How to avoid?

• Always offer a way out:  Tell the prospect that he shouldn't be shy about saying no.  I typically tell people that "unless I get a no, I will
  continue calling.  I can't take a hint."
• If the prospect tells you to call in a week, ask "What is going to change in a week?".  This usually gets the prospect to explain what their process is....or it gets them to re-evaluate the push off.

2.  The buyer has no authority to purchase:  This happens often.  The person that you have been presenting to has no authority to pull the trigger...but they have never told you this.  Sometimes, all it takes is the right questions in the beginning. Questions like

• Are there any other people who need to be involved in this
  process?
• Are you an officer in the company authorized to sign an agreement? The reason I ask is that we just had an instance where the person signing our agreement wasn't authorized, and it caused some headaches. 

3.  The prospect has no money in the budget for your product:  The prospect was very excited to see your product and really believes that it can make a difference.  The reason they cannot pull the trigger is that they don't have money to purchase.

Since you probably don't have a say in how much money the prospect has in their budget, you can help by being clear from the beginning of the costs associated with the purchase.  I have heard many salespeople give general costs of the service at the beginning of the process, only to give a firm price at the end that surprises the buyer.  The buyer doesn't want to seem cheap, and therefore plays as if they are moving forward, when they are in fact not interested. They will find some excuse to not buy, and it won't be the price.

Be clear on the price, show the value of the product and ask for the business.

Like most great salespeople, you probably wrote a business pan back in January.  

You probably mapped out exactly what you wanted to earn in commissions, and you worked your way backwards to find out how many phone calls you would make in 2014 in order to achieve your goals.

You also probably detailed your monthly sales goals.

NOW IS THE TIME TO REVIEW THEM, and if need be, perform a reset.

IF YOU DIDN'T WRITE A BUSINESS PLAN, CLICK HERE!

Tuesday is your day to start over. Take this weekend to ask some pertinent and even tough questions.

1. Did you hit your sales goals?
   
2. Did you hit your commission goals?
   
3. Were your goals too lofty?
   
4. Were your goals too weak?
   
5. Were the metrics that you assumed accurate?
   
6. Do you need to step up your cold calling?
   
7. What is it going to take to finish the year off in order to EXCEED your goals?
   
8. Have you made headway with your "Top Prospects" list?

This weekend, I plan to go through many steps in order to make sure that I am on track.  That will include changing my goals, and strengthening my metrics in order to accurately estimate what it will take to kick butt from now until December.

If you are disappointed with your sales numbers to date, this is your time to change directions.

Pictured here is a place called Hope Island.  There really is a place called Hope Island.

I have been stuck here many times...especially during close week.

Picture this.  You have spoken at times with a prospect during a given month.  You have found some needs, identified some pain, you even asked some pertinent questions.  You think you are pretty close to the sale.

Your boss asks you on Monday, June 23rd whether this deal is closing.  You answer in the affirmative.  "It's going to close," you exclaim.  While the prospect never really told you that it is, you sure hope so.  

The one question that you didn't ask is whether they are moving forward with the deal.  While this is the most important question you may ask in the process, it is that hardest one to ask.

So sometimes, EVEN THE BEST SALESPERSON will sit on Hope Island, waiting for the contract.  The Hope Island that I ave sat on isn't the sunny one pictured above, but a cold replica, full of despair, desperation and worry.

How to avoid Hope Island:

1. When I was young and single, there was a desperation that I had that drove the women away.  Desperation also drives prospects away.  The best way out of this is to have many options.  Fill your pipeline so that you don't have to rely on one deal to get you there.
   
2. Ask the question!  Throughout the process, always state your end goal and discuss what the prospect's end goal is as well.  "So it looks like you are going to make your decision within 2 weeks.  Do you thin that if you move forward that it would be a June decision?"
3. Sometimes it doesn't feel right to come off as a salesman.   I say, embrace it.  Say something like "While I love showing my product to people, and I love discussing what my prospect's needs are, in the end I am a salesman, and my management judges me 12 times a year.  Do you think this is something that we can wrap up this month?"
4. Forecast your month accordingly.  If you haven't spoken with a client, or haven't gotten them the requisite paperwork to sign by the 15th of a given month, should that be in your forecast?  My boss always says, "Hope is not a strategy"

This has little to do with sales....but it is a pretty awesome video, sure to bring you a smile.

Enjoy, and have a great weekend

Today, I received a gift.

A prospect who I have spoken with in the past finally came in.

Back in December, I spoke with a gentleman about my services.  I presented him an agreement, and while he was interested, it wasn't the right time.  In December, you probably did the same thing, right? 

December is notorious for trying to get that end of the year deal in.  You throw some stuff out there and hope that something will happen.  Sometimes it does, but the majority of the time, it doesn't.  It just isn't the right time.

DO YOURSELF A FAVOR NOW:  Go through your list of prospecting calls from December, and reach back with a call.  6 months has gone by and a lot has changed.

June/July are notorious for these types of deals.

1. You should always keep track of your prospecting calls and the answers they gave you at the time.  Use that to your advantage.
2. You should always keep a large pipeline full of everyone who has said no to you.  For example, I have many clients who were prospects for 8-10 years.  Sometimes the planets must align in order for a deal to get done.  Be there when it happens.
3. If someone gives you the response that the time isn't right, write them a handwritten note along with your business card.  Tell them that one day, you envision them buying from you, and you look forward to that day.
4. Like the prospector above, you must have a large stream (pool of prospects) in order to catch those golden nuggets.   When you speak with a prospect who says no, ask them when you should follow up, and then mark it in your calendar.

Happy Father's Day, Sydney Weinstein.

While I have newer pictures of my father, this one is my favorite.  

Presumably, we were on our way to Northern Michigan for a family vacation.  Mom was taking the picture.

My father has taught me so much, that I felt it appropriate to take father's day to spread some of the wealth that he has taught me.

Here are just a couple...

1. Always be a man of your word:  This one seems simple.  When you say you are going to do something, do it...even when inconvenient.  People will always remember if and when you don't.
2. Always be on time for a meeting.  My father is obsessive about this.  While I am not  perfect, and I have the hardest time with this one, I always strive to be on time.
3. Dress well.  Don't wear cheap clothing.  People notice.  My father always said that your necktie should have red in it.  While I am not a believer in this anymore, red is supposed to signify power.
4. Always refer business to the most qualified person, not the one who gives you a kickback.  My father routinely declined a referral fee because he didn't want there to be confusion as to why he referred it.
5. Always make time for your family:  While my father always worked late when I was little, he always did his best to come home and spend dinner with us, even if he had to go back to the office afterwards.

Any good advice you got from your father?

Last night, I was watching a Simpson's episode with my wonderful son, Matthew.

The image to your left came up, and it got me thinking.

The Status Quo is pretty powerful.  So powerful that you will not sell to your client if the status quo is working.

For example, I saw an awesome looking brand new Cadillac the other day.  I loved it.  It has everything that I want in a car.  The only problem is that I have a 3 year old Cadillac in my driveway.  it runs, it looks nice and more importantly it costs me less money than a new one.  Sure, I want the new one, but the status quo is going to win every time.

Let's say that my car starts to wear down.  The tires need replacing, it doesn't run as well as it used to, and I see a rust spot forming near the drivers door. 

The status quo is now looking less advantageous.

Many times, I go out to a prospect's office and discuss their needs.  We seemingly come up with many reasons why their current process isn't working well enough.  I dig deep into their pain points in order to figure out what is broken and what I can do to fix it.  Many times, we as salespeople fall short.  We just don't probe deep enough. 

We don't dig and stir enough to get to the things that aren't working at all.  We miss the point that the only thing that is going to drag your prospect away from the status quo is pain.

Which brings me back to this blog post

To make the sale, you must battle the status quo, you must find those rust spots...you must find a reason for your prospect to need to make that switch

• Open Ended Questions:  You must ask these questions n order to get to your prospect's pain
• You must also ask probing questions.  Questions like "So if you continue to spend 45% of your time researching the market, what kind of effect will that have on your bottom line?"
• Don't try to close the deal until you have dug deep enough to unseat the status quo.
• I once heard some crazy statistic that you must be 150% better than the status quo to get someone to change.  Not sure where this number came from, and I am sure that it is made up...But the point remains that you must be a whole heck of a lot better solution than the one you are trying to unseat in order to win.

Three Pages.

In an effort to show you the value of the book that I published, I am providing you three pages to enjoy. 

HERE IS A BRIEF SYNOPSIS of the book.

I have compiled roughly 166 pages of wise advice for all types of salespeople.  What you can do to increase your odds of making a sale...and what you shouldn't do.  As a friend told me, nothing is earth shattering here...but there are a couple of tremors that can help you out.

Please take a look below, and if you like, CLICK HERE to download the entire book.

The book is an e-book on the Kindle Platform...IT CAN BE READ ON ANY ELECTRONIC DEVICE...an iPad, a Surface, a Galaxy Tab, even a computer...Just download the Kindle App, and you are good to go.

Here are the three pages...hope they help you out....

For a copy of my bestselling book,
CLICK HERE

Before embarking on negotiations, it is always wise to do your research.  You should always know what your competition is offering to your clients.

This point became clear during one of my interactions in the last week.  Everything in the process was going smooth until we got to the point where I ventured into unchartered territory.  My naivety was in full force, and I lost the deal.  Not knowing the ins and outs may have hurt me in the short term.

You can never be too prepared, and you can never be too cautious.  If you feel that the person at the other side of the table has an upper hand in the negotiations, you may want to bring along a more senior member of your team.

So there are many lessons of the day here. 

1. Know your stuff before you start talking turkey: That should be a given...but sometimes an old dog like me should heed that advice
2. Email is a very bad communicator when negotiating:  Too many things get misconstrued while emailing.  Unfortunately, once that "send" button is pressed, you lose your negotiating power. You are much better off discussing things over the phone
3. You learn more from defeat than you do from success.
4. Learn the word "Next".  There are few mistakes that are fatal...And there are always other avenues you can take.

TO ENTER JUNE'S CONTEST, CLICK HERE!
 

Today, I saw a license plate as I was pulling out of my office parking lot, and it gave me a thought.

No Pain, No Sale.

Sure, what this guy probably meant was No Pain, No Gain: A popular saying amongst people who work out in the gym.

No Pain, No Sale means something different.

When I go out on a sales call, I dig deep to find my prospect's pain.  What is bothering them about their process?  What is holding them back from achieving their goals?.  What is keeping them awake at night?  I am looking for their pain, and then, like a knight in shining armor, I will swoop in and fix the pain.  I will show them the "3 Wows", 3 things that my product does that can alleviate their ills so much that they say "wow!"  If I can do that correctly, I can earn the sale. 

If there is no pain, then I cannot possibly sell my product or service to them.

1. Before discussing yourself and your company, discuss their needs.  Try not it make it an inquisition, but make it a discussion. 
2. Ask insightful questions like "What do you find is the toughest part of your sales process" or "When you are looking to hire new sales talent, do you find that you get too many unqualified applicants?".  Follow up with questions like "If you spend that much time spinning your wheels with unqualified candidates, do you feel that this inhibits you from getting new business?"  Use silence to have them go deeper into the thought.
3. During this discussion phase, find three things that your company or service can do to alleviate their pain better than any other solution.  Keep track of these.
4. When discussing your product in the next step, be sure to address those pain points while discussing your solution.  Use phrases like "One of my current clients was having similar difficulties as you, and now finds that this feature has really changed his business for the better"
5. Always be conversational.  Too many times, I hear salespeople run through their questions like a list.  Nobody wants to be questioned. 
6. My favorite question is "You have seen our product before...why aren't you a current client?"  That elicits a great response, and a way for me to address an honest objection.