This video is about 3 sales lessons that I have learnt running 5 businesses over the last 15 years as an entrepreneur and chief salesman. I thought I was good at sales when I first set up my own company. I was not. I had a lot to learn.
Sales is about getting in front of the right people, regularly engaging with people and keeping yourself in a positive, curious, interested mental state.
The 3 Keys to Effective Sales
In this video I share 3 keys:
Is the M.A.N. in the room? (MAN=Money + Authority + Need).
There is a classic sales interview question where the interview pushes a pen towards the interviewee and says “sell me this pen.” You might have seen the question in the movie The Wolf of Wall Street.
How do you Sell a Pen?
Don’t start with the pen.
Start with the person in front of you.
Do they need a pen? “Are you in the market for a pen?” If not: go find someone else who needs a pen.
Can they afford the pen? “What’s your price range?” If not: go find someone else who needs a pen and can afford one.
Can they make the decision now? “Are you looking to leave today with a pen?” If not: go find someone else who needs a pen, can afford one and has the authority to make the purchase.
Don’t push pens at people. “This is a great pen”, “This lasts longer than other pens”, “This is a better colour than our competition”… all nonsense if the person in front of you is not interested in a new pen.
How to sell a Pen
Find people who need pens, can afford them and can decide today.
I spent over 10 years building entrepreneurial ventures that had a lot of selling involved (insurance, business services, restaurant franchises, aeroplanes).
Fish Where the Fish Are
I met a young entrepreneur last week at Startupbootcamp. He told me “I am not good at sales”. I said “What do you mean?”. He said that he can’t seem to keep prospects interested. I asked him how he selected his target prospects. He returned a blank stare.
I said “do you try to sell to everyone you meet?”
He didn’t say anything but the body language was saying “well, yes of course”
This is how to die young as a salesperson.
My daughter loves fishing. To be honest, she loves the idea that she has of fishing, rather than the reality of fishing. We have a small cottage by the beach in Costa Brava and often we will go and spend some time “fishing”. I don’t really want to catch anything, I just want to chill out with her while we watch the sea and the sun setting and the changes of nature. She wants to catch fish.
If I want to catch fish I go to one place. If I don’t fancy cleaning and gutting a fish, I go to other places.
The place where I go to fish is the place where the fish are.
The place where I go to not fish, is any place that the fish are not.
Fishing Well, Selling Well
Fish wisely: “Fish where the fish are” – not randomly, or where you would like to be.
Selling to a person who is not the M.A.N. is a waste of breath. M is money, A is authority and N is need. If the MAN is not in the room, be polite and leave.
Who are your best clients? Where can you find more? Target well.
In my aviation business we discovered that the people that were most happy to regularly meet were often competitors interested in learning about our business (and copying our brochures, contracts and process). We learnt to be very careful and take time to bring prospects through a long (2-4 months) process before we would actually pitch the deal and put a contract in front of them. It made a real difference – not only in more effective sales, but in a major improvement in my personal motivation and enjoyment of the sales process. Photo Credit: Nicolas Valentin