The Art of Closing the Sale

Here are I mention some of the takeaways from The Art of Closing the Sale by Brian Tracy.

Developing a powerful sales personality:

Winners always accept responsibility of their actions and are solution oriented. They are always looking to solve the problems and deal with challenges they face each day. Losers on the other hand never do but always have some kind of explanation for why they are doing poorly

Because you know that you can close the sale, you will feel like a winner most of the time. This self confidence will positively affect your prospects, making them even more likely to buy from you

Self confidence is the natural growth of liking and respecting yourself

The more you like yourself, the more you like others. You like other people; they will have confidence in you. The more confidence they have in you, the more likely that they will buy what you are selling

Average people want to work hard. They intend to work hard. They are planning to work hard – sometime in the future. They even claim that they work hard and complain about how diligently they work, but they don’t really work very hard at all

A person with sympathy may feel sorry for another person, but he looks at him from the outside. A person with empathy makes every effort to get inside the mind and heart of the other and to understand his situation and needs

Top salespeople think about the second and third sales to this customer while still talking to him about the first sale. Further, they imagine selling to that customer twenty years from now

A balance between ambition and empathy seems to be the ideal combination for long term sales success. If a salesperson is too ambitious, he will not care that much for the customer, and the customer will sense this. If a salesperson is too empathetic, he will not be assertive enough to ask for the sale. Balance is essential

The very best way to express and practice empathy with a customer, or anyone else, is to ask questions and listen intently to the answers. Dominate the listening, rather than the talking

Keep on keeping on. There are never any traffic jams on the extra mile

Be honest and tell the truth

Trust is the differentiating factor between making a sale and nothing

Whatever you expect, with confidence, becomes your own self-fulfilling prophecy

Ask the prospective employee which books ar ehis favorites and what he is reading now a days

If you are not continually learning and upgrading your skills, somewhere, someone else is, and when you meet that person, you will lose

Enroll in Automobile University and attend full time for the rest of your career

The magic questions: after each sales call, ask yourself:

1. What did I do right
2. What would I do differently
The advantage of these two questions is that the answers to both of them are positive

You cannot fly with the eagles if you continue to scratch with the turkeys. Get around positive people. Associate with those who are going somewhere with their lives

Do 100 face to face calls in the shortest period of time possible every new year or to turbocharge yourself

Accept 100 percent responsibility for your work and your life, and refuse to make excuses for any reason

The psychology of closing:

Reverse engineer your sales presentation. The key is to plan your close in advance. Instead of planning the sales presentation first and then close, plan your close and then your sales presentation. Decide how you are going to ask for the order and then reverse engineer the presentation

After you ask the closing question, you must then be completely quiet. Don’t say a word. Allow the silence to build up if necessary because whoever speaks first, loses

Remember that the person who asks questions has control. Always try to answer a question with a question
Rejection is not personal

Do the thing you fear and the death of fear is certain

Customers don’t buy because they are afraid of making a mistake, of purchasing a wrong article. They are fearful of paying too much or of being criticized for making the wrong choice

You must overcome customer fears

Never tell the prospect thst he is wrong. Never argue with him. And never look at selling as a competition that you need to win

Sales people who don’t use testimonial letters have skinny kids

Always be complimentary. Never knock your competition

Don’t prejudge the prospect

Prospects are very perceptive. They pick up emotional vibrations from the salesperson. Prospects know when you are trying to help them, as opposed to trying to make a sale that will help you

You can never sell to someone you don’t like

How to handle any objection:

Customer: I can’t afford it
Meaning: Show me how I can justify spending this amount of money
Customer: I have to talk it over with someone else
Meaning: Give me sufficient reason to buy this so that I don’t have to check and get someone else’s opinion

Make it easy for the customer to object

Compliment the objection, “that’s a good point; I’m glad you mentioned that”

Be polite and respectful

How to respond to objections like ‘we’re happy with our existing suppliers’, ‘we’re not interested at this moment’? That’s all right. Most people in your situation felt the same way when I first called on them. But now they have become our best customers and recommend us to their friends

Asking two questions together with one question mark makes the other person give an answer. For example, Do you mind if I ask what the objection is – is it the price?

Customers don’t want the lowest price for a product or service unless it is identical to another product or service. What customers want is a fair price, a good price, the best price, a reasonable price, a competitive price, but not the lowest price

Instant-Reverse close: When a prospect gives you an objection, you answer: Mr. Prospect, that’s exactly why you should take it. For example, in response to too expensive, best combination of price and quality. You’re going to buy it someday so why not at this price and quality

Winning closing techniques:

Ben Franklin close: Pros and cons on each column of the paper

Double your productivity, double your income:

I saw time management as a planet that orbited around the sun of my life. It was later when I realised that time management is the sun of my life, and that everything else going on is merely planets that orbit it

If you will be hard on yourself, life will be easy on you. But if you insist on being easy on yourself, life is going to be very hard on you

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