Lost and Found! part 2

Happy Friday!

 

Years ago, when the kids were smaller, we were going to the mall.  Everybody had their own money and had planned what they were going to buy and have for lunch.  It was going to be a good day.  When we got there, I could see Christian on his knees looking frantically for something....

 

He had lost his wallet.

 

Understandably, his countenance changed, his body became heavy, and despite his best effort to hold it in...the big tears began to flow.  It would be easy for a parent to just rush in and replace what was lost...but if you have learned anything from me daily, I allow life to teach us what it intends for us to learn.

 

His wallet...your mojo (fill it in as we go along)

 

I told Christian,

 

"Re-trace your steps and go back to the last time you had your wallet.  See and feel the last time you touched the money.  The good feeling you had knowing you had earned it and were now going to spend it on something fun...worthwhile".

 

We all got back in the car to head home to search for his wallet.  I could see him in the third row and his face was still a mess. The mood was spreading to the rest of us. 

 

He needed a change of state to take his mind off of his lost wallet.  I put in a Cd of pan music...yes, I said pan music.  It was happy, catchy music and we always had a good time listening to it.  The first song didn't do it, but by the second song...

 

He began to sing!

 

He face lit up as he sang and he smiled the kind of smile that let me know he had put the lost wallet in a "better mental place". 

 

By the fourth song, he was the loudest of the group and then got quiet for a moment and exclaimed,

 

"I know where I left it!"

 

When we pulled into the driveway, he got out by himself and went right to the spot he remembered.  As he came back to the truck, wallet proudly in hand, I asked him how he felt. As a child of about 8 or 9 years old, he said something that has stayed with me every time I want to get down on how things are going in my life...

 

"Grateful."

 

Yesterday, I received more responses from people about lost mojo than any other daily crumb.  I understand.  If I had to use only one word to tell you how to find it, that word would be...

 

Grateful.

 

Be grateful for the gifts you have and determine to use them to their highest capacity.

 

Be grateful for the opportunities in front of you and be grateful that the experiences

behind you will help you maximize them.

 

Be grateful for "that job", even if it isn't the one you thought you would be

working at this stage of your life.

 

Be grateful for life, strength and a sound mind to do what you have to do.

 

Be grateful that it ain't over yet!

 

If you didn't see the simple steps in Christians journey to recover what was lost, here they are;

 

#1 Re-trace your steps to the last time you felt empowered about your life.

#2 Let those you trust help you in your search to find the best you.

#3 Change your state and stop focusing on what is missing.

#4 The mind (vision and imagination) will find it first...

#5 Once enlightened, do the necessary work and the circumstances will follow.

#6 Be grateful.

 

Until tomorrow, I wish you Money, Power, Success!

Lost and Found! part 1

I have two small dogs...Taco and Boostie.

Correction, my daughter has two dogs but since she is off at college, we keep them.  Be clear, I am a dog person, but there are times they impede on our newfound freedom as empty nesters  Not to mention the late night barking at "ghosts", the feedings...the poop.  Don't worry Faith, I love them on your behalf. 

 

A friend of mine lost her dog the other day. It made me think of a recent time when Taco ran off for greener pastures (or to teach me a lesson!). I got sick thinking of what I would tell Faith...then I realized I loved the dog.  Losing him would hurt me too.

 

Ever lose something? 

 

I have been traveling doing road shows and speaking with 100's of sales people  If the size of the group isn't too big, I go around the room to let people introduce themselves and say what they want out of the session. While it may be stated in various ways, the common refrain is to "recapture something they have lost".

I have lost my focus.

 

I have lost my love for the business.

 

I have lost my ambition.

 

I have lost my way.

 

I know that sounds dramatic, but these statements are more common than you might think for many people in sales.  Not just the "down and out" crowd, who are struggling, but also the top achievers who are successful.  It can manifest in symptoms such as procrastination, avoidance of necessary tasks, irritability at home, and others.

 

What would you tell me about the current state of your sales psyche?

 

A better question, how did you feel getting up this morning?

 

At 6am (are you sleeping later than that?) each day, we have a choice.  To get up and out, attacking each day with zeal and enthusiasm, or to hit the snooze button.  That decision determines if you are "self-employed" or "unemployed".

 

I understand sales is a tough business.  Yes, the Emancipation, Gratification and Remuneration I always talk about are the perks, but even a child can't/won't eat candy all day...everyday.  Sometimes a piece of raw broccoli has to be digested.  There will be some bad days, but you shouldn't be having bad weeks...or months...or years.

 

If you are not excited to get up and get your day started, I have one more question...

 

Have you lost your mojo?

  

If you have, then the next few Daily Sales Crumbs will help you find it.  Lost mojo is part of the cycle of life and signifies that we need to change, adapt, search anew.  What you have lost is not gone...it simply needs re-discovery...an awakening to what is possible for this stage of your life.

 

How do I know we will find it?

 

Taco came home.  It wasn't my incessant calling his name.  It wasn't the chip in his body that provided his location.  It was time dinner...

 

His instincts brought him back.

 

It will be the same for you.  Intellect may be driving the feelings you have right now that are robbing you of ambition, focus and desire.  "Rational thoughts" of fear, frustration and anxiety produced by the "smart part" of your brain feeding you the "facts" about your life...

 

It is time instincts lead you home.

 

Good news!  My friend found her dog, too!  That is how life works sometimes...

  

Lost...and found!

 

Until tomorrow, I wish you Money, Power, Success!

Put A Ring On It!

Over the last few days, I have been talking about Money - the energy to make it, the emotions to spend it, and negotiating for things we want/need.  I have gotten some pretty good examples from some of you about your own experiences.

 

Let me share one of mine...buying my wife a ring. 

 

I wasn't really shopping for a ring (sorry Natalie!).  Not an anniversary or other major event.  I was walking through a high-end mall and noticed a prominent jewelry store was closing.  I had always walked by and never went in  They usually had a security guard out front - that really discourages window shopping...Hoity Toity for sure!

 

No security guard this time...I walked in.

 

A sales person walked up with the classic, "May I help you?" 

 

Of course, I said "No" and thought to myself, "No wonder the store is closing with sales openings like that".

 

I found a beautiful ring that reminded me of a picture Natalie had cut out of a magazine years ago.  Even with the stores closing price, it was expensive. In the vacuum of my pragmatic male mind, I did not see the value in spending this much on a ring.

 

Hey, there was no pressure...we were already married and there was no anniversary...this would be a "just because" impulse purchase.  So I did what any man would do standing at the jewelry counter that has the ability to walk away...I began to negotiate.  

 

The sales person didn't budge - polite, but firm.  I showed her who was in control, I started walking out without buying. She made one more desperate move right on cue -

 

"I can call you if/when the price goes down."

 

I felt like I had won a victory...I gave her my number - no harm.

 

A new sales person called me a few days later (the "A" team?) and said that the ring was now on hold for another potential customer till the end of the day. 

 

 "Did they lower the price?" I asked. 

 

"Not yet, but as you know the store is closing and this is the last one.   I don't want you to miss out if the other couple decides not to buy. Why don't you bring your wife in and let her see it to be sure she likes it?"

 

It was Friday and we were going out to dinner (date night) and I made a "surprise" stop at the jewelry store with Natalie.  The new sales person (definitely "A" team) slipped the ring on her finger.

 

Ooohhhsss.....Aaaaahhhs from the sales person and Natalie....my power is slipping away fast!

 

The gemologist came out "from the back" and escorted us to his area to see the gem under a big microscope - not the little loupe that they use out front. He discreetly showed me the original catalog that had the ring and it's pricing. He pulled me aside for decorum and said,

 

"It is 50% off of what we asked this time last year, representing a once in a lifetime opportunity. Here is the certificate that I will present to you for value purposes and insurance".

 

The benefits had just been raised substantially (strike one!)

 

 "What do you think of the ring on your finger?" asked the sales person.

 

"I love it!" (strike two!).

     

"I understand from Brandon that you have been married 24 years. Sadly, in this day and age that is rare. This kind of ring makes a statement - one that signifies that same high level of devotion and lifelong commitment - it is also rare and unique - one of a kind."

 

Yikes...she was definitely "A" team...why is this store closing?

 

My wife didn't say a word...neither did I.  I know the next one who speaks - losses...right?

 

She just kept looking at the ring...smiling ear to ear. 

 

The "A" team must have smelled blood in the water...she moved in for the kill...

     

"Brandon, you mentioned you would use your American Express to get the points - smart move. Let me get the gemologist to size the ring while I process everything for you while you two go enjoy dinner".

 

(Strike three!) 

 

So much for negotiating...you might as well...

 

Put a ring on it!

 

Until tomorrow, I wish you Money, Power, Success!

 

Next Time:

The Art of the Deal!

I explained the other day how my older sister, Donna, would use psychology to get me to ask mom for ice cream. She kindly reminded me that I had my moments as well.

My younger sister, Chara, loved what she called "silver money".  Coins that were bright, shiny and silver...nickels, quarters, and especially silver dollars.  That is where she placed her value.

When it comes to money, I have an affinity for the paper variety!

I remember trading her bright new quarters for ragged, torn and tattered dollar bills (hey, you don't get mad when Warren Buffet does it!).  Plus, I always shared my candy with her...what a good big brother!

Now mature, I have seen the error of my ways and realize that manipulating a client can work for one sale, but will wreak havoc on repeat business and referrals - relegating you to having to produce rather than cultivate! 

 

Beyond the Happy Money Conversions we just discussed, there are times you will have to negotiate. To be effective at negotiations, you have to understand the value of your product.

There are two components of value to consider as you build your own negotiating leverage - Objective Value and Subjective Value. Both objective and subjective value are built on the classic equation

 

Value = Benefits/Price

 

Or put another way

 

What I am willing to pay? = What will it do for me? / What does it cost?

 

Negotiations are an indication that the buyer is ready, but wants to extract as much value out of the transaction as possible.

 

We live in a world where negotiating is expected and admired as we push for more than our neighbors got - $100 off rust-proofing, a free warranty, upgrade padding - anything that shows we got more for our money. Here are a few things in this chapter that help you with the dynamics of negotiating;

 

Know the value of your product. What does your product really do?  How does it improve the lives of your clients or provide solutions to their problems?  If you only quote features, you have not really demonstrated value.  Your price becomes the determining factor of if the client will buy from you.  When reduced to the commodity level, the cheapest price wins...is your product the cheapest?

 

No?  Then you have to demonstrate value.

 

Be willing to lower Price or be able to raise Benefits. Price is objective. A dollar is a dollar no matter how you ask for it. If your price is flexible, then you are probably armed with the ability to lower the price to meet their "what I am willing to pay" number. Lowering the price probably impacts your commission...right?. Many sales people quote retail pricing but when price becomes objectionable, they begin to lower the price.

 

Rather than default to lowering price (objective), a better approach might be to increase your products benefits (what will it do for me) in the eyes of the buyer (subjective). Benefits of most products are subjective depending on needs/desires of the perspective of buyer. If you can sufficiently increase the enjoyment and advantages of your product beyond their price objection then your price becomes more acceptable.

 

Raising Benefits through Demonstration. Depending on the nature of your product, allow the prospective client to "live" with your product as much as possible.  Why do you think car sales people offer test drives?  I remember once, the sales person said, "Take it home and bring it back tomorrow".  We drove it, went to dinner, put it in the garage...at that point...I owned it!

 

Even with an intangible service, it is possible to convey that spirit of ownership that makes people receive it before they buy it.

 

Create buying urgency - The law of Supply/Demand can sometimes defy logic - Beanie Babies come to mind!  No doubt that when more people want something and there is limited supply, price is irrelevant.

 

I don't like cheesy offerings that play on "today only" or other scarcity tactics that aren't real. There are valid ways to create the buying urgency that capitalize on the prospects psyche - find them for your product.

 

We said several Crumbs ago that many sales people wont ask for the sale (the check).  Many fold when it comes to negotiating for the sale as well.  Negotiating is a necessary part of many complex sales and the key to success is understanding..

 

The Art of the Deal!

 

Until tomorrow, I wish you Money, Power, Success!

 

Next Time: Put a Ring On It!

Money Conversion!

Happy Monday!

By the powers observation, many of you noticed that I only discussed 3 of the 4 Money Emotions -  Mad, Sad, and Happy.  It isn't because I saved the best for last, but the one that is most common...

 

Scared Money.

 

"Let think about it and get back with you."

 

"Give me your business card and I will call you once I decide."

 

"I am not really sure I am ready to make this kind of purchase."

 

Sure, we all need a little space when making an important financial decision or major purchase, but some of what you are hearing is Scared Money.  It is centered around one dominant thought...

"Am I doing the right thing?"

 

Scared Money can be the worst kind, because it usually means the client will do nothing. At least with Sad and Mad people spend it - though begrudgingly.

 

One of your key functions as a sales professional is Money Conversion - changing Scared Money into Happy Money.  Taking the fear of choice and turning it into confidence of decision.

 

While unfair, some sales industries live in the "Happy Money" space (lucky dogs!). They don't have to work on converting the emotion of money.  In fact, people scrimp, save and put the pictures of these items on the refrigerator. When they have the money, they go in and buy with glee!

 

These Happy Money purchases are generally the luxuries of life - the travel, the sports cars, fierce shoes (homage to my wife!), and watches (my vice!) - can you name any?

  

Ironically, the things that people need (thus the name necessities) are where the emotions of money run high - ranging from Sad, Mad, to Scared. People don't skip with glee to buy insurance, alarm systems, or termite protection.

 

How do we begin converting money emotions?

 

 

Let me ask...How should your clients feel solving a problem? How should they feel achieving a major desire? How should handling something they have continually put off feel?

 

In a word, it should make them feel Happy!

  

In order to be effective at money conversion, you have to transport your client.  You have to provide and demonstrate the benefits of your product in a way that shows immediate and future enjoyment, relief, security, peace of mind, accomplishment or other pleasurable "Happy" emotions.

 

Remember that benefits are the features of your product "personalized" for your client.   Make your benefits come to life and paint the Happy Picture for your clients. They have to think Happy thoughts about your product to get past feeling nervous...scared.

 

My main industry is insurance...about as sexy as falling on a cactus.  We all know we need it (death and taxes, right?), but so many people put it off.  Not because they feel immortal, but usually because they don't project a Happy Money emotion on it due to the subject matter.

 

Your job is to get them to "see" (imagery) the powerful impact of their decision.

  

"Mr. Jones, I know and appreciate the fact that this is a big decision.  Tell me, how will you feel knowing that you have taken care of such an important matter?"

 

"How will taking care of this today impact your wife, children, grandchildren and even great grandchildren?"

 

"What will future generations say about what we are doing here today when it pays for college educations, first cars, weddings and other important life events?"

 

The real key to helping a prospect get beyond their natural Money Emotions is to show them the benefits beyond the initial decision point. To help them feel a sense of accomplishment, security, peace of mind, achievement and pleasure. That means you have to become an expert in...

 

Money Conversion!

 

Until tomorrow, I wish you Money, Power, Success!

 

Next Time: The Art of the Deal!