Chapter 2
- Aim high, but set incremental goals.
- You have to continually know people’s objections, and prepare the responses in advance. You have to respond quickly and only practice and preparation will get you the speed. Don’t just say the words. Say them confidently and with conviction - without pausing to think.
Chapter 3
- This chapter is about tie downs. Don’t overuse them.
- It’s also about the porcupine technique: Responding to a concern with a question.
- More or less about how to ask (leading) questions.
- You have to know your offering really well.
Chapter 4
- Sell based on what they want, not what you like.
- Sell only to decision makers or those who can influence them.
- Sell based on emotions, not logic.
- Sell based on self image.
- Replace rejection words with selling ones.
- Have multiple ways to pitch/talk. Adapt to the customer.
- Utilize as many senses as possible.
Chapter 5: Why?
Much of this chapter is about eliminating demotivators. To succeed, we often know what we should do that we’re not doing. So ask yourself: Why don’t I want to do what I should? It’s often not about lack of ability/opportunity, but non-performance.
Increasing enthusiasm is not as effective as decreasing depression! Doing the latter tends to increase the former but not vice versa.
He talks about the motivators: Money, security, achievement, recognition, acceptance, and self acceptance.
The he talks about the demotivators.
When you fail, don’t ask what you did wrong. Ask what you did right.
Fear of change: If you don’t take charge of change, then external forces will drag you through it.
Chapter 6: Learn to Love No
From a young age, we’ve been trained to view “no” has certain negative connotations, and so being told “no” brings our mood down. We need to change our relationship with the word “No”.
You are not paid by the sales, but by the contacts. No contacts means no sales. So know your conversion ratio and realize that a “no” just means you get to move to the next contact and get closer to your sale.
He gives 5 attitudes to rejection.
Chapter 7: Prospecting
This chapter is about finding people to sell to.
Keep metrics on your performance. He lists a bunch. Having more prospects doesn’t mean you’re doing well. It may mean you’re not filtering them effectively.
Your ratios are higher if your leads are referrals. He gives tips on trying to maximize referrals.
For non-referred, try to pre-qualify them (i.e. target appropriately).
Strategies:
- Utilize the itch cycle
- Get the customers or salespeople who have moved on. Visit them in person! They get too much mail.
- Upsell based on new features.
- Scan local news to identify potential new buyers.
- Call various clubs/businesses and get to know them. They will be a source in the future.
- Swap meet with top salespeople in related but non-competing fields.
- Talk to service departments to see who has issues.
Chapter 8: Phone
Most of this chapter is about using the phone effectively. But never use it as a substitute for an in person meeting.
How to get phone numbers, how to handle upset people, etc.
Chapter 9: Participation
Don’t impress with a fantastic demo. Make the lead a participant. Structure the demo so that (s)he is involved, or even doing most of the work.
This is not just for physical things. Get them to fill out a form showing them how your financial product can save them tax dollars.
Chapter 10: Planning the Demos
Top sellers spend less time demoing, and more time preparing.
- They practice a lot more.
- The demo is not the sale. It is merely a step in the process.
- Gather common objections and prepare responses.
- Find other folks’ tough items to sell (e.g. poorly situated houses). Exploit the objections to formulate a strategy.
Lots of stuff about language to use and avoid, lingo to learn, and how.
Don’t spend more than 17 minutes on the presentation.
Lots of stuff about tailoring/preparing for a given customer.
Find companies/people who are not at the top but would like to be. See if you can help them.
Plan and pre-plan in writing.
Use visual aids.
Chapter 11: Finessing the First Meeting
Your main goal when first meeting a prospect is to remove fear and allow them to relax.
Steps:
- Smile warmly.
- Make eye contact.
- Greet them properly.
- Shake hands only with referred contacts. For non-referred customers, greet but don’t give them your name. Then walk away.
- Let them settle on one item (use your peripheral vision)
- Ask an opening involvement question.
Chapter 12: Qualification is the Key to Quota Busting
Figure out which customers are most likely to buy, and then tailor your presentation to them.
Steps:
- Find out what they have now.
- Find out what they like most about the product or service they have now. Eliminate people you can’t help.
- Ask what they would like to see improved.
- “Who in addition to yourself will make the final decision?”
- “If we are lucky enough to find the right product today, will you be in a position to proceed?”
- Bracket in on product/service (size, features, etc).
- Bracker in for money.
You must know the numbers well. Don’t spend time calculating, etc.
Chapter 13: Handling Objections
Objections help you. You will not sell to someone who doesn’t object.
Minor objections are defense mechanisms.
Make sure the objection is not a condition. A condition is a valid reason not to proceed (e.g. there’s no way the person can pay it).
Never argue. Never attack them. Help them answer their own objections.
He then gives tips and steps on handling objections.
Chapters 14 & 15: Closing
This chapter is all about closing.
Chapter 16
This chapter seems to be about multipliers.
- Get referrals from your customers.
- Add ons: If you sold something to the shipping department, get contacts to their accounting (if you have something of relevance to them).
- Send business cards to everyone. He even sent them with all his utility payments.
- Be a walking ad: Paint your car, have a catchy phrase on the folder you take everywhere, etc.
- Bunch of info on dealing with recontacts.
- Lots of info on sending “Thank you” notes.
- Random people you have conversations with.
- People who listen but don’t buy.
- Mechanic
- Etc
Chapter 17
This chapter is about organizing (tickler files, etc).
Chapter 19
When you’re in a slump, ask “Am I happy?” Then take ownership of your attitude.
Chapter 20
Set activity goals - not production goals.
Chapter 22
More closing techniques