Month: April 2024

As we approach the end of the month, seven days left, the pressure is on to meet those targets and close deals. The last week can be make or break, and it’s time to bring out your A-game.

Today we will be sharing 10 powerful tips to help you navigate the final stretch, crush your targets, and emerge victorious. So in our typical David Letterman fashion.

From the Home Office in The Holy Cow Casino and Brewery In Las Vegas

Here are the TOP 10 Game-Changing Tips for Salespeople to Close Strong

10. Strategize and Prioritize: As the clock ticks down, it’s crucial to strategize and prioritize your efforts. Identify the high-potential leads, focus on the deals that are closest to closing, and allocate your time wisely. Creating a strategic plan ensures that you’re not scattered but are instead laser-focused on what truly matters.

9. Effective Time Management: In the last week, time is your most valuable asset. Create a daily schedule that maximizes productivity. Set specific time blocks for prospecting, follow-ups, and closing deals. Avoid distractions, and remember, every minute counts. Efficient time management is the key to achieving more in a limited timeframe.

8. Leverage Urgency and Scarcity: Use the psychological triggers of urgency and scarcity to your advantage. Let your prospects know about limited-time promotions, discounts, or exclusive offers that expire at month-end. Creating a sense of urgency can prompt indecisive prospects to make a decision sooner rather than later.

7. Personalized Follow-Ups: This is not the time for generic follow-up emails. Personalize your messages to remind your prospects of the value your product or service brings to their specific needs. Reference previous conversations and highlight how your solution is the missing piece in their puzzle. Make them feel that you are invested in their success.

6. Overcome Objections with Confidence: In the last week, objections might come thick and fast. Be prepared to address them with confidence and conviction. Understand the common objections you encounter and proactively provide solutions. Anticipating and overcoming objections not only demonstrates your expertise but also instills confidence in your potential clients.

5. Collaborate with Your Team: Your team is your support system. Collaborate with them, share insights, and help each other succeed. Consider teaming up on deals where a collective effort can make a significant impact. A united front can overcome challenges and create a positive, synergistic environment.

4. Utilize Technology to Streamline Processes: In the digital age, sales tools and technology can be a game-changer. Leverage CRM systems, automation tools, and analytics to streamline your processes. These tools can help you identify hot leads, track interactions, and provide valuable insights that empower your decision-making.

3. Offer Incentives and Bonuses: Motivate your prospects with incentives and bonuses tied to the end-of-month targets. Whether it’s a special discount, additional features, or a personalized add-on, providing extra value can tip the scales in your favor. Make your prospects feel like they’re getting a special deal by closing before the deadline.

2. Refine Your Pitch: Take a critical look at your sales pitch. Is it resonating with your prospects? Are you effectively communicating the value proposition? Make necessary adjustments to tailor your pitch for maximum impact. A compelling and relevant pitch can make all the difference in convincing prospects to seal the deal.

And the #1 TOP 10 Game-Changing Tips for Salespeople to Close Strong is…

1. Maintain a Positive Mindset: Lastly, but most importantly, maintain a positive mindset. The last week can be intense, and setbacks may occur. However, resilience and a positive attitude can turn challenges into opportunities. Believe in your ability to succeed, stay focused on your goals, and remember that every rejection is a step closer to a resounding success.

As we navigate the final week of the month, remember that you are not alone in this journey.

Every challenge is an opportunity to showcase your skills and resilience. The last week hustle is where champions are made. Embrace the pressure, stay focused, and let your determination shine through. By implementing these 10 tips, you’re not just closing deals; you’re laying the foundation for a stellar month ahead.

Have a great weekend and close strong!

David

Are you feeling a little overwhelmed?

Maybe you’re facing a daunting challenge, a career change or perhaps you’re on the brink of something big, but you’re not quite sure if you’re ready to take the leap. Well, I’ve got news for you: You’ve Got This!

Life is full of twists and turns, ups and downs, but one thing remains constant: your resilience and inner strength. Sure, there will be moments when doubt creeps in and fear tries to hold you back, but remember this: you are capable of achieving more than you ever thought possible.

Every obstacle you encounter is an opportunity for growth. Every setback is a chance to learn and come back even stronger. So, instead of letting fear dictate your actions, embrace the challenges that come your way. They are the stepping stones to your success.

Believe in yourself, even when others doubt you. Trust in your abilities, even when the road ahead seems uncertain. Remember, the greatest achievements often come from those who dared to dream big and refused to give up, no matter the odds.

So, go ahead, take that leap of faith. Pursue your passions with unwavering determination. And when doubt tries to creep in, remind yourself: You’ve Got This!

You are capable, you are resilient, and you are destined for greatness. Stay focused, stay determined, and never lose sight of your goals. With the right mindset and a willingness to persevere, there’s nothing you can’t accomplish. So, go out there and show the world what you’re made of.

You’ve Got This!

Happy Selling,

David

Last Wednesday’s we looked at the first credit card, this week let’s take a look at the history of the cards we use. When New York businessman Frank McNamara started Diners Club in 1950, he had big dreams for his new company and the credit card it would issue.

“‘Someday,’ he predicted, ‘restaurants all over New York will honor this card,’” former Diners Club executive Matty Simmons recalled McNamara telling him early on. Simmons recounted the conversation in his book “The Credit Card Catastrophe.”

At the time, no other company had successfully issued a credit card accepted across several merchants. But McNamara was right about the future, and then some. As the first major multipurpose charge card issuer, Diners Club gained widespread acceptance among merchants and paved the way for other issuers. About 82% of U.S. consumers now report carrying a credit card, according to a 2022 survey from the Federal Reserve Bank of Boston, the most recent data available.

An industry is born

The idea of a credit card didn’t begin with Diners Club — but McNamara’s idea was a big improvement on what already existed.

In the 1920s, department stores and oil companies started offering metal charge plates and “courtesy cards” that customers could use to charge purchases, according to “Paying with Plastic,” by David S. Evans and Richard Schmalensee. These cards were accepted only by the merchants that issued them, similar to modern-day store cards. Restaurants didn’t even offer such cards.

With its cardboard credit cards, Diners Club aimed for mass acceptance. It charged merchants a 7% fee on each transaction, but assured them that cardholders would spend more than noncardholders. It promised cardholders convenience — only one monthly bill for dining expenses! — and a status symbol to keep in their wallet. These cards required payment in full each month, so today we’d call them “charge cards.” But at the time, they were called credit cards.

By its first anniversary, Diners Club had attracted 42,000 members and a few competitors. By 1953, it became the first internationally accepted charge card, according to the company.

But it wasn’t until 1958 that major companies joined the competition. These included American Express, which issued some of the first plastic cards; Bank of America; and Carte Blanche, owned by Hilton Hotels.

Competition heats up

Among the many of credit cards launched in 1958, Bank of America’s was the most innovative. The Diners Club and other cards were only accepted at restaurants and travel and entertainment outlets. But the new “BankAmericard” was accepted by several different types of merchants, although it was limited to California at first. It also allowed some customers to revolve balances, a novelty at the time, according to Evans and Schmalensee.

Bank of America introduced the card with an unforgettable — and incredibly expensive — publicity stunt: It mailed 60,000 already-activated BankAmericard credit cards to its customers in Fresno, California.

Known in the industry as the “Fresno drop,” this mass mailing resulted in widespread fraud and delinquencies that cost the bank millions. Despite the losses, the issuer offered the same card to the rest of its California customers the following year. In 1961, the card generated its first operating profit, according to Evans and Schmalensee.

Card networks spur growth

In 1966, BankAmericard began licensing its cards to banks in other states to scale its business. This allowed out-of-state banks to issue cards that were accepted by merchants that took BankAmericard. In the same year, a separate group of California banks started the Interbank Card Association, working together to manage issuer-merchant transactions.

In time, these organizations evolved into two nationwide networks. They now effectively act as middlemen between issuers and merchants, ensuring transactions are legitimate before they get through and working with the merchant banks to complete transactions:

• BankAmericard eventually became Visa, which then spun off from Bank of America. (The bank has since revived the BankAmericard name for its credit cards.)
• ICA gained more member banks and changed its name to MasterCharge, which later became MasterCard.

These networks competed for issuers’ attention while expanding their merchant acceptance.

In the 1970s and ’80s, it made sense to choose a card based on network, since the logo on your card affected where it might be accepted. But as merchant acceptance for both networks became ubiquitous, issuers began adding new perks to their cards to compete.

In 1986, Sears introduced the Discover card, which offered consumers a small rebate on all their purchases, making it one of the first cash-back cards in the U.S. Competition exploded. Issuers that had previously relied on their networks’ brands to promote their cards began offering sign-up bonuses, frequent flier miles, low-interest periods and other enticements.

Regulations catch up

As the credit card industry grew from thousands of cardholders to millions, even some of the most fundamental rules of how credit worked — say, what a credit card’s interest rate actually meant — remained murky.

“In the wonderland of credit … the consumer is almost never told of the cost of debt in terms of true annual interest,” author Hillel Black wrote in the 1961 book “Buy Now, Pay Later.” Lenders used several different methods of calculating interest, some of which disguised exorbitant rates. Some quoted monthly interest rates, while others used annual rates.

Other problems became apparent. Many cardholders were dogged by fraudulent charges on their accounts, for example. Women generally couldn’t qualify for a credit card without a male co-signer. Credit card disclosures remained minimal.

Lawmakers stepped in, but not quickly. In 1968, the Truth in Lending Act — part of the Consumer Credit Protection Act — standardized methods of calculating annual percentage rates, or APRs. But Congress passed the law only after studying the issue for eight years, according to a 1971 article in The Journal of Consumer Affairs.

Throughout the 1970s, more consumer protections were added under the Consumer Credit Protection Act. It became illegal to discriminate against credit card applicants because of sex, marital status, race or other reasons. Cardholders’ liability for fraudulent charges was limited. Better disclosures were required.

As the credit card industry rapidly evolved, many of these laws were amended to keep pace with current practices. The Card Act of 2009, for example, added to disclosure requirements that already existed and added more restrictions to the Truth in Lending Act, among other improvements.

Mobile payments and beyond

Today, credit cards are becoming more about credit and less about cards.

Instead of using plastic cards, many consumers are using their smartphones. About 3 in 4 consumers with a debit card or checking account and a smartphone have made a mobile payment at least once in the past 12 months, according to a 2021 study from First Annapolis Consulting. Many more are using credit cards to make purchases online, without ever dipping or swiping their cards.

Did McNamara see this coming? Probably not. Before selling his equity in Diners Club in 1952, he predicted the company would “’peter out at 250,000 members, last for a while, then disappear like the zoot suit,’” according to Simmons.

More than 60 years later, Diners Club — now part of Discover soon to be owned by Capital One — is still around, and the industry it inspired continues to grow.

Happy Selling,

David

We have all seen those commercials on TV for products that are supposed to change your life. They offer an extra incentive if you Act Now.

They are creating urgency for you not to procrastinate because if you don’t do it now, it’s more likely that you will never do it at all.

When it comes to achieving goals, the best time to start is right now! Whatever your goals are, if you are truly serious about them, you must take the first step immediately.

In today’s world, we live in a fast pace environment in which we have a drive-through mentality. We want it, and we want it right now. Whether the goal is to get fit, be super successful in business or learn a foreign language, the final result seems distant and big. Immediately, our brain goes into procrastination mode. Many people will deal with something that’s unimportant first and then, when everything is out of the way, they will go for that goal.

The problem is, they never get to it. Procrastination is the killer of dreams.

  Whatever your goals are, it’s important to make the decision to act on them immediately. Goals are important but you need to have a deep-seated WHY you are doing what you are doing. It must be a burning desire and determination. Your attitude should be. “I’m doing this, no matter what! Nothing is going to stop me or get in my way.” When you write out your goals, also write out the benefits that you will receive once you achieve them. This will give you the motivation to go out and make it happen. Break that big goal into small enough tasks so that you can do them even when you don’t feel motivated.

Now repeat after me “No more procrastination, I am acting on this right now, right here, right where I am.”  

Make the decision to get rid of all the excuses like “I’m not ready, I need more training, I don’t know what I’m doing yet.” Whether you feel you are ready or not, it does not matter. The only way that you are going to excel at something and achieve your goals is to get out there and do it right now. Figure out the first step and just do it. You may need to make the first step you take a small one, that’s OK. Make the step as small as you need it to be to ensure that you will do it. Write down the thing that you will do right now and simply do it.

I’ve heard many people say “If you believe it, you can achieve it.” That may be true, but it’s not enough. ACTION is the foundational key to success. By acting right now, you will start to build momentum. Once you’ve taken that first step, make sure you know what the next step is and make a decision to take it. Keep moving and keep marching forward. If you want success, you have to take massive, determined actions.

Success is going to take a big commitment. You must commit to action every single day. You have to be relentless. By doing this, the actions that you take will become a routine habit. When you have a habit, you don’t even think about it anymore. This is part of your life. This is something that you do daily.

 The extra effort will also bring you to an even higher level. The difference between mediocrity and success is an extra 10% effort. Whatever it might be, when you’re close to finishing or you’re feeling tired, put 10% more into it. Keep stretching yourself and you will grow.

Your goals and dreams can come true. It’s entirely up to you. No more procrastinating! You have incredible opportunities in front of you. They are life-changing and you can live the life of your dreams. There are no secret formulas. All you have to do is want it badly and then make the decision to go out and get it. Incredible opportunities are waiting. ACT NOW!

Happy Selling,

David

It was Larry the Cable Guy, a redneck comedian, who made the expression famous. But he said it more like Git-er done. It’s meaning is simple. It means “get the job done.

There is work you need to do, but you resist that work. You know you need to do this work, how to do this work, the importance of doing it, and when it needs to be done. Yet, that work sits, not yet started and nowhere near finished, the source of your procrastination unknown and unresolved.

There are a number of sources of procrastination that, once identified, can be overcome.

Comfort: It is easy to seek comfort over work. Work requires that you lean in, giving what needs to be done your focus and energy. Comfort doesn’t require the same focus or energy. Comfort allows you to lean back and watch Netflix, to be still and passive instead of creating movement and proactivity. Comfort is warm, easy, and seductive. Unless you give yourself over to it, your work may not be any of these.

Entertaining Distractions: You live in an age of infinite distractions, the smallest and largest of which lives in your left hand or your pocket. In any case, it is never more than a few feet away from you. You have news, television, radio, movies, magazines, video games, the internet, cameras, video cameras, online shopping, and countless other distractions vying for your attention. Then there are text messages, emails, phone calls, and notifications. Distractions provide entertainment and escapism, making them something easier than work.

Conflict: You may avoid some of the work that you need to do because you have conflicts around that work. Is it the right work for you to do? Is it something that you should have said no to when asked? Is it something you believe should not be done or should be done some other way? These conflicts can be the root cause of procrastination.

Fear: When work is creative in nature and opens you up to being judged by others, the fear of that judgment can be the source of your procrastination. If the work is great, some may still be critical. If the work is poor, some will still find it valuable. Procrastination prevents you from acting and sharing your gift with the world, making the unattainable goal of perfection so far out of reach so as to make it difficult to start.

For whatever reason, by allowing what most needs to be done to go undone, you move the results you need to produce further away from you, shorten the time you have to do the work, and increase the stress-and the eventual negative consequences of not having done it.

What most needs done is what you most resist. Understand why you resist and say it with me …. Git’er Done!.

Happy Selling,

David

I hate talking about negative subjects, but it’s time to call it out. I’m going to list the top ten reasons why salespeople fail. Now, it’s not that salespeople fail on all ten of them, but all it takes is one or two. This post is to help you steer clear of these ten mistakes, because I want you to be successful. 

So in true David Letterman fashion, from the home office in

Center of the World, Ohio.

Here are the Top 10 Reasons why salespeople fail…

10. Poor time management

Salespeople who don’t use their time well, or take all day to get going, get knocked out of sales. They spend all their time doing everything except what they’re supposed to be doing. This not only knocks people out of sales, but out of so many other positions and really achieving the success that’s possible in life. 

9. Too product focused

Sure, they’ve got all this product knowledge, but that’s all they want to focus on product knowledge. Customers don’t want a product. They want solutions. If you’re too product-focused, you’ll never take time to listen to the outcomes that the customer is looking for. 

8. Not knowing the customer

Treating every customer as a random email or a random phone call is not going to work. You’re going to become defeated very quickly, and it’s going to get boring.  Take some time to understand who the customer is so you can ask better questions and have better dialogue.

7. Lack of a repetitive process 

You’ve got to be able to do it over and over and over again. Think about things in your life: you get dressed in the morning, you have a very set routine, and it goes smoothly. If you don’t have that routine, it’s amazing how awkward it can be. Similarly, lack of a repetitive process slows down everything. For example, prospects that you don’t follow up on properly. 

6. Failing to use a CRM system

Don’t think that you can do this job without your CRM system or just barely putting in any information at all. Instead, use it to the fullest because it’s there to guide you and help you. 

5. Having a poor mindset

Having a poor mindset defeats anybody. Once you start falling down, you can quickly go into a death spiral. This is why I say that to help you with a poor mindset, You’ve got to have peers that you can reach out to and connect with that are challenging you, and you’re challenging them. Sales is not a solo activity. Sales is a team sport, and that’s the only way you’re going to make sure that you have a positive mindset. 

4. Not believing in the outcome

You don’t have to believe in your product, but you do have to believe in the outcome, sound familiar? You have to believe in the outcome that you can truly help people see and achieve what they didn’t think was possible.  If you don’t believe in that, then why are you selling? Get out of sales right now. 

3. Chasing shiny objects 

This is like chasing the squirrel. “Wow, this is a cool idea. If I get really good at this, I’ll be really successful in sales.” And then, they spend the next two, three weeks chasing that, and it doesn’t work. Or, “Here’s a great customer. I’m going to go do this. It’s going to be my multimillion dollar deal.” Boom, and it doesn’t work. You’ve got to stay focused.

2. Lack of a positive peer group

I call this out very succinctly because I’ve watched salespeople who do not have a positive peer group, and it’s hard for them to stay in the game.  A rising tide lifts all boats. Who is lifting you up? 

And the #1 Reason Why Salespeople fail is …. 

1. Having goals, but no plan. 

Anybody can make goals. But what’s your plan to achieve them? If you don’t have a plan to achieve your goals, your goals are just dreams.

There you have this weeks Top list. How many of these reasons to fail do you make?

Have a great weekend,

David

It takes hunger to succeed.

In all my years in the business world, I met a lot of people with amazing talent. I can’t tell you how many times I said “This one is going to be a star.“ 

Unfortunately in most cases, I was proven wrong. They had what it took to be successful except one missing ingredient.

Talent alone is not enough. 

The first thing I look for now is HUNGER. Without hunger, none of the other tangibles matter. 

If you want true success, you have to be hungry.

When someone is hungry for success, you can see it in their eyes. They may not have all the talent in the world but they have that ingredient that’s going to help them succeed. 

When someone is hungry, they are all in. They are going to do what it takes to become successful. 

The word “try” is not in their vocabulary. They are simply just going to do it. Total failure is not an option. There is no Plan B. They are 100% committed to the cause and they are not looking back. That’s the type of hunger that’s necessary in order to have success.

I’ve also found that people that are hungry are committed to constantly improving. 

They are not satisfied with just being average. They may start slow but they understand that if they commit to continuous learning, they are going to keep improving. 

They understand that failure is part of the process and that’s the only way that they are going to keep learning. 

This is why it’s important to look at the big picture with the understanding that with proper commitment, success is going to happen.

Hungry people look for solutions rather than making excuses. When obstacles or challenges do come, these type of individuals will either find a way or they will make one. The road to success will always be under construction. When you commit to making it happen, success will eventually come.

Over the years, I have found in many cases that I want more success for individuals than they want for themselves. 

Some people require that extra push. The exciting thing is that hunger is actually a driver. I don’t have to micromanage the hungry. 

They are so self-motivated that they push themselves harder than I can push them. 

Hunger definitely opens eyes as well. Those that are hungry have a vision to see small windows of opportunity and they turn them into something big. The journey of success is not going to be easy, but when you’re hungry, the commitment is there.

Perhaps you have found yourself lacking that hunger. The good news is you can change that. Write out exactly what you want out of life and be very specific. 

Look at it every day. Have photos. You must have a reason WHY you want to succeed. 

If anyone ever tells you that you don’t have what it takes to be successful, prove them wrong. That’s what I call “being hungry.”
This is your week! This is your time!

Stay hungry!

Happy Selling,

David