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Not possible? Weve got 35 pieces of advice that will change the way you think about selling.
Entrepreneur magazine - August 2000
By Robert McGarvey
Have you ever wished you could distill the teachings of the sales masters, so that in those nervous moments just
before trying to make a big deal you could pull out a cheat sheet that summed up all the key points you or your
sales team had to know? Well, guess what: Your wish has been granted.
Following, you'll find essential tips and expert advice from seven leading sales trainers: Barry Farber, Marc Diener,
Brian Tracy, Tom Hopkins, Jeffrey Gitomer, John Tschohl and Kevin Davis. Normally, clients pay thousands of
dollars to pick their brains--but here before you (for free, no less) you'll find the basic sales secrets necessary for
success. Our complete guide covers the situations you face every day, from closing deals and getting repeat
business to responding to a prospect's no and negotiating great deals. You'll also find an insightful look at the
biggest mistakes you must avoid and the tactics and ideas you simply can't live without.
So get cracking. Before you know it, your company will be making more sales--and having more fun doing it.
What makes
you or your
product stand out in
a crowd? Think up
ideas and read
"Theory Of
Creativity" to learn
how to touch base
with your creative
side.
4. Differentiate. How are you and your product or service different? What makes you
better than your competitors? "Don't try to copy others. What will shape your success is
how you deliver a personal touch," says Farber, who adds: "Knowing what makes you
unique lets you sell that much more effectively."
5. Form relationships. "Build relationships with customers, then turn those
relationships into partnerships," says Farber. "Provide enough value so that your
customers really appreciate doing business with you. That creates lasting sales
success."
Making A Deal
Before waging your sales campaign, do your homework.
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If you think haggling is the route to sales success, think again. According to Marc Diener, Los Angeles attorney,
speaker, columnist for Entrepreneur and author of Deal Power: 6 Foolproof Steps to Making Deals of Any Size (Owl
Books/Henry Holt), "Too much emphasis is put on haggling. Preparation is the real key to making better deals."
Never fear, even the inexperienced can become savvy dealmakers. Diener offers this advice:
Know what you want from the deal. "People jump into deals too quicklybefore they know what they want,"
says Diener. "Step back and ask yourself what you're really going after."
Get help and information. "Dealmaking is a team sport," says Diener, who urges entrepreneurs to involve
professionals, such as accountants, lawyers and bankers, whenever a deal is important. "Or do self-help research.
That's become very easy to do on the Web."
Check out the other side. "Are you dealing with a crook? An incompetent? You don't want their problems to
become your problems," explains Diener, who insists entrepreneurs perform "due diligence" (meticulous research
into the other side) before closing any deal.
Plan for the downside. "Know what can go wrong," says Diener, "and seek to minimize your risks." Ask
yourself: If the other side doesn't perform as agreed, what do you loseand how could you cope? "Using tools
such as insurance and peformance bonds can be good policy," adds Diener.
Get it in writing. Don't let the glow of the moment prompt you to close a deal on a handshake alone, stresses
Diener. A written agreement "is evidence of what everybody agreed to," says Diener, "and putting it in writing forces
us to flesh out our thinking."
Never underestimate the power of a written agreement. Our Start-Up Legal expert, Carlotta
Roberts, lets you know what it beholds in "On The Dotted Line."
Need more sales laws to keep you in check? Read "Focus Pocus" to learn how to center in and go
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Retaining Customers
How to get customers to buy again and again
If you're not getting repeat business--the same customers never buy from you time and time again--you're working
way too hard. As any smart salesperson knows, the real profits come when past customers return to make
additional purchases.
To make sure your customers are return customers, hungry for more, try following these tips from John Tschohl,
author of Achieving Excellence Through Customer Service (Best Sellers Publishing) and president of Minneapolis
Service Quality Institute:
Love your customers. "A customer knows within five seconds if you like and care about them, and they want to
do business with people who do," explains Tschohl. "There's a tremendous amount of indifference in today's
wealthy economy, but customers still want to be cared for."
Call them by name. "This is simple, but it's a magical tool," says Tschohl. "People love it when you call them by
name, and they want to do business with people who know them." But just make sure to use the proper
pronunciation. (His is pronounced "shoal.")
Focus on speed. "People want it now; they want immediate response," says Tschohl. "If you want to keep
customers, you'll set standards for response times and keep working to do it faster."
Keep your promises. "Nothing turns off a customer faster than when you don't keep your promises, but
nowadays few businesses do," says Tschohl. "If you say you'll handle it tomorrow, make sure it's done by then or
sooner. Whatever you say you'll do, do it."
Make sure everybody has been trained in service. "It's not good enough when only the salesperson knows
customer service," stresses Tschohl. "Everybody on your team has to know--and practice--service basics." A
consistent commitment to serving the customer is key to winning repeat business.
Keep them coming back and begging for morecheck out "Second Time Round" for more advice
on winning customers.
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costs associated with delaying a purchase. Waiting might seem a safe choice to them now, but successful
salespeople make a habit of popping that balloon.
4. Calling on prospects who don't value your value. If your big selling strength is high quality, you're probably
wasting time going after purchasing agents who are far more price-focused, says Davis. A key to successful selling
is identifying the right potential customers who already want, need and value the product or service you have to
sell.
5. Failing to resolve a customer's fears. What kills the deal in the eleventh hour, when you're sure you've landed
a big one? What makes customers quake in their boots before they sign on the dotted line? What's the big reason
why customers pull out of a deal in those last minutes? They're afraid that, somehow, their buying decision might
be wrong and that they'll suffer in the eyes of their co-workers, boss, family and friends. We're all fearful that we just
might be buying the next Edselthe little product that couldn'tand the smart sales-person "identifies the sources
of a customer's fears and finds ways to alleviate them," says Davis. So in every one of your potential sales, be
prepared to fall back on a plan for resolving your customers' biggest fears.
Price Of Nice
Being agreeable only gets you so far
Do nice guys finish last? A recent study seems to support that notion.
Two professors at Vanderbilt University's Owen Graduate School of Management in Nashville, Tennessee, spent a
couple years studying behavior at the bargaining table. One key finding: Agreeable folks did worse in certain types
of negotiations because they tend to value cooperation over protecting their self-interests. That might not be
surprising, but how about this: Intelligence had absolutely no impact on the outcome of win-lose negotiations
(where one side comes out ahead), say professors Bruce Barry and Raymond Friedman.
What does matter? Nerve and toughness, say the profs. Have them and, odds are, you'll come out on top.
If you're an agreeable person by nature, your best bet is to go into the negotiation strongly focused on what you
want out of the dealnot on making nice with the other sideand you'll probably do okay, say the researchers.
Incidentally, in negotiations where true win-win outcomes are possible, intelligence does benefit a negotiator
because he'll be more adept at sniffing out what really matters to the other side. In fact, in those kinds of
negotiations, say Barry and Friedman, intelligence is a key factor in reaching a successful conclusion.
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