The Problem with Safety Nets I was watching David Rubenstein interview Noubar Afeyan, the co-founder of Moderna, when David asked Noubar why so many start-ups were founded by immigrants. Noubar replied that if you were uprooted from your home, especially forcibly as he was from his native Lebanon, you have no sense of entitlement. He said that a sense of entitlement is only possible if … Read more
12 Sales Resolutions for the New Year We all know that most resolutions fail because people often call out large goals without an understanding of what it takes to achieve them. Rather than saying that this year you want to sell more, or make money, focus on small changes that will help you achieve big results. Use this list as a suggestion to brush up … Read more
Why asking “I am curious” is disingenuous I’ve talked before about the need for salespeople to be curious, so it may come as a surprise when I tell you not to say you’re curious. To be curious is a mind set. To say, “By the way, I’m curious,” is another thing entirely that can feel disingenuous because the question is hiding a deeper motivation, and … Read more
4 Rules of Price Concessions When a buyer puts pressure on a seller, the seller’s natural reaction is to start offering concessions. Yet if a seller gives big discounts quickly, they degrade themselves and diminish their offering in the eyes of the buyer. Before giving any concessions, savvy sales negotiators will deploy the mobile defense plan to politely, but firmly, stand behind the price. If … Read more
One of my First Negotiations I’ve said before that a master negotiator makes sure his counterpart walks away from the table feeling like a winner. All savvy buyers are players, and they love negotiating, which they treat like a game. They enjoy it, and when they play with another trained player, it’s fun for them. It may not be fun for the seller. In fact, … Read more
Mobile Defense Plan When a salesperson believes the buyer has the money, and thus all the leverage, negotiating a deal feels insurmountable. This belief causes mistakes to happen, as the seller starts offering concessions in order to get a deal. Any deal. Instead of turning into a wimpy seller, learn to deploy the Mobile Defense Plan for sales negotiations. This four-step plan is designed to … Read more
The Cost of Sales Discussing costs is a part of every sales cycle, and many sellers bring in the cost of the status quo to help justify the price. Yet we rarely look at our own costs to pursue leads that may never close. Think about all zombie accounts that hang out on your forecast for months or years that will never close. Pursuing them … Read more
Why is Consultative Selling Better? In a recent Government Software Sales Bootcamp, I put up a slide comparing the traditional selling system with the more modern consultative selling system: Original Selling System Present Handle stalls and objections Close Consultative Selling System Qualify Present Close It was no secret that I’m in favor of the consultative selling system, but I asked the students to discuss why … Read more
Close the Door on the Close One of the reasons salespeople get a bad rap is because most people associate sales with a hard close. No one wants to be manipulated or pressured into making a decision that they may come to regret. Buyers don’t like a hard close, and the truth is salespeople don’t either. I’ve heard countless people say that they aren’t cut … Read more
Selling to Committees All buyers want to have options, and they want a simple way to compare those options. An example is the Mutual Fund industry. Most brokerages have tools that allow buyers to compare funds side-by-side, helping them to make an informed decision. Yet Matthew Morey of New York’s Pace University, found that it was not necessarily the performance metrics that motivated the purchase … Read more