Sales is always a burning issue for business owners.
How to handle Sales, what if Sales creates problems in profitability…there are issues related to Sales that really determine the success and fruitfulness of any business. A lot of entrepreneurs suffer from inconsistent income. They sell in patches and when they do that, they encounter spikes and falls without any consistency in their sales graph.
Having said that, an interesting thing to note about selling is that everything in Sales is dependent on the business owner. The entrepreneur is the Sales superstar of the business itself!
So let’s look at the 5 Facets of Sales that every entrepreneur needs to keep in mind so that they are effective in increasing their sales and also building consistency in their sales.
It’s not about your product or service. A lot of businesses overemphasize their products and services even when they are training their Sales staff or even when the entrepreneur is out there selling, they are busy focusing on the product information or giving out details about their services rather than focusing on the Sales conversation. They often forget that a Sales pitch is a conversation between your customer and you. It is about understanding the clients’ needs, their desires, and then having a natural conversation that leads to decision making.
Biggest mistake at a Sales pitch? Opening your laptop and starting with an Intro to who you are, what your products/services are. This is an absolute deal-breaker. Sales is not a presentation. No two businesses are the same, then how can the Sales pitches be the same? What’s the right way?
Let your customer speak and express their problems. While you should be asking the relevant questions. 70% of a sales meeting should be your customer speaking and 30% of you asking them questions to make sure you are the right fit for their business which even they will see.
Don’t dump information.
The game is not about how high the price is. The game is about how much value it is adding. This is a common phenomenon that entrepreneurs face where their customers convince them that their product or service is priced high. There’s no such thing. The only thing is ‘the wrong customer’. Either you’re targeting the wrong customer or you’re offering the wrong product to that customer. Remember that people are always willing to pay the price provided they find the right value in it.
You’ve got to make sure that your value is higher than anybody else’s. There are always going to be people who offer the same products and services at a much lower price than you. What you need to do is, define your products and services, back them with impactful results that actually add value, and this way you will not have to worry about competitors selling the same thing at a lower price. Do not lower your price for competitors. Determine and back your own value in front of your customers.
A lot of entrepreneurs feel that if one deal doesn’t work, then it’s a no-deal and they enter this zone which is the fear of rejection. A solid Sales structure should be about a WIN-WIN. Your customers should find value and you need to be paid for your products and services. So, if one deal doesn’t fall through it means it wasn’t a win for your customers. Learn and move on to the next deal. It’s not about WIN-WIN or no deal, it’s about WIN-WIN or the next deal!
So, keeping these 5 things in mind will help you to focus on creating a strong Sales structure for your business to be successful, profitable, and scalable!
Rajiv Talreja, one of Asia’s leading business coaches talks about Sales and the right way to do it. Sign up for more such insightful workshops and business coaching programs to grow your business!
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