Author: David Matney

Happy 4th of July everyone!

Also known as America’s most popular BBQing holiday, the 4th of July, Independence Day, is a day of great grilled food, family, friends, and fireworks. Did you know that it was only declared a National Holiday in 1941, sure you did, you should have read that on last Friday’s Top Ten list.

Today I want to share my family’s BBQ rib recipe. Let’s keep it our little secret. So come rain or shine enjoy these ribs, some good family time grilling, boating or plain ole R&R. Have a fabulous 4th of July.

DAVE’S BBQ BABY BACK RIBS…. 

For the Rib Rub

• 2 full racks baby back pork ribs (about 5 to 6 pounds)

• 3 tablespoons kosher salt
• 2 tablespoons chili powder
• 2 tablespoons Tony’s creole or Slap your Mama seasoning
• 2 tablespoons packed dark brown sugar
• 2 tablespoons paprika
• 1 tablespoon garlic powder
• 2 teaspoons ground mustard
• 1 teaspoon freshly ground black pepper

For the barbecue sauce:

• 1 1/2 cups ketchup
• 1/2 cup low sodium beef or chicken stock
• 1/3 cup packed dark brown sugar
• 1/4 cup light or dark molasses (not blackstrap)
• 2 tablespoons cider vinegar
• 2 tablespoons Worcestershire sauce
• 1 tablespoon chili powder
• 2 teaspoons garlic powder
• 2 teaspoons paprika

For the barbecue sauce:

Place all of the ingredients in a medium saucepan and bring to a simmer over medium heat, whisking occasionally. Reduce the heat to low and continue to simmer, whisking occasionally, until the flavors have melded and the sauce has reduced to about 2 cups, about 30 to 40 minutes. Remove from the heat and set aside until ready to grill.
Now.. for the ribs!

1. Place all of the ingredients except the ribs in a medium bowl and stir to combine; set aside.

2. Cut 4 (24-by-12-inch) pieces of aluminum foil; set aside.

3. Pat the ribs dry with paper towels. Remove the thin membrane attached to the underside of the ribs by doing the following: Flip the ribs over so they’re bone-side up.  Starting at the end of 1 rack, slide the tip of a paring knife between the membrane and the bone, then lift and cut through the membrane. Grasping the membrane with a paper towel, pull it toward the other end of the rack and completely remove it.  Repeat with the second rack.

4. Cut 1 rack in half crosswise and place the 2 pieces side by side on a sheet of foil. Repeat with the second rack and a second piece of foil.

5. Evenly coat both sides of the ribs with the spice rub. Pull the foil up and over each set of ribs to create 2 completely enclosed packets. Place the packets side by side on a rimmed baking sheet. Cover the baking sheet tightly with the remaining 2 pieces of foil. (At this point, you can roast the ribs immediately, but for the best flavor and texture, refrigerate them for up to 24 hours.)

To grill the ribs – preferred option1Heat a gas or preferably charcoal grill to medium (350°F to 450°F).Remove the ribs from the foil, place them meaty-side up on the grill, and brush them with some of the sauce. Cover the grill and cook for 5 minutes. Flip and brush the ribs and cook another 5 minutes. Continue to cook, flipping and brushing every 5 minutes, until the sauce has thickened and the ribs are heated through and have grill marks, for a total grilling time of 20 minutes tops.

Transfer the ribs to a cutting board and cut the racks between the bones. Transfer the remaining barbecue sauce to a serving bowl and serve with the ribs.

If it’s raining – Oven time

1. Heat the oven to 325°F and arrange a rack in the middle. (If you put ribs in fridge remove them and set aside till room temperature while the oven is heating, at least 20 minutes.

2. Place the ribs in the oven and roast until fork-tender, about 2 hours.

Meanwhile, fire up the grill, have a few drinks and enjoy your 4th of July and I’ll do the same.

Have a great 4th of July!

David

Business may run into on a day to day basis. Knowing this information will help you formulate a “plan of attack.” This knowledge will help you come across as well informed and prepared when dealing with clients, no matter the industry.

Below are a collection of industries that rely on fast & efficient methods of payment processing as well as some tips and tricks on how you can navigate the different landscapes of each industry to close the deal!

Restaurants

Restaurants rely on high output and a reliable payment processing system. When it comes to the busiest time of the day or year, a fast and efficient POS system will enable a restaurant to operate at a high capacity. Faster payment processing means faster service, allowing more business in their door.

Nightclubs

Nightclubs are similar to restaurants in the sense that their business revolves around high capacity service. The faster that waitstaff can charge a bill, the faster they can serve other patrons. When a nightclub or venue has a slow POS system, you are likely to have frustrated customers and staff alike. In short, a fast point of sales system will ensure there is no slowdown in service.

Retail / Clothing

With real-time data becoming more and more common across all industries, having an intuitive payment system is a must. When it comes to being able to click a button and immediately see what is in stock, or what is on back order, you give employees the ability to better serve a customer. Instead of having to go into the back room to check the stock. Having a POS system linked to your supply will decrease the time spent searching for products and more time selling products.

Online Stores

Online businesses don’t have the same overhead as a traditional brick and mortar establishment, so having an efficient payment system is a major component for this type of business to find growth and success. An intuitive payment method allows an online business to grow, without the worry of increased overhead, or unreliable/spotty service.

New / Small Business

New & Small businesses benefit greatly from a fast and efficient payment system as money may be tight in the beginning. With a new business, it is important to be able to give a business owner the right tools to help grow their business, whether it be building an email list, requesting tips after a sale, or helping establish a loyalty program. With benefits such as an interchange plus pricing, businesses of any size have access to low rates, compare that with a seamless payment system and the possibilities are endless.

By understanding the complications or limitations that a POS system may be putting on businesses, having insight on each industry will allow you to adapt and be able to inform potential clients about the benefits of upgrading to a higher capacity payment process system that suits their specific needs.

By providing merchant services to a client you are giving your customers access to competitive prices, without sacrificing great service. Offering programs like Duo Pricing allows businesses of all sizes a chance to lower their monthly overhead, increase employee benefits, and grow their business with infinite possibilities.

Happy Selling,

David

I had a lengthy discussion with a good friend in the industry about barriers to effective sales execution.

Specifically, what holds people back from crushing it on sales execution?

They said something that caught my attention. He said that most people have “A.D.D.”

Now, he wasn’t referring to the A.D.D. that you and I usually think of. In this case, A.D.D. stands for: Attention Distraction Disorder. Sound familiar?

More and more distractions creep into our lives every day. Between the onset of technology, constant connection and human nature, it is amazing anyone gets anything done!

So how do you stay focused on sales execution when so many people, gadgets and gizmos compete for your attention?

Here are six steps for slaying your distractions and crushing your sales execution.

Step #1: Have a Plan

I know that sounds elementary yet so many people start their day with no game plan. Effective sales execution absolutely requires a plan. You will never achieve your full potential (and your full income!) without a honest-to-goodness plan.

I recommend asking yourself, “What would I have to accomplish (in my life, business, health, relationship, etc.) to consider today a productive win?’

Step #2: Stop Multi-Tasking to Much

Research shows that multi-tasking actually limits your capacity for execution. Choose instead to stay present in every moment. Adopt a “singularity of focus” and watch your sales execution skyrocket.

Step #3: Set Clear Boundaries

You train people how to treat you. That means you need to let would-be attention thieves know when you are unavailable… and do not respond when they encroach on your productive time.

Step #4: Submit to Accountability

Just like people often need a workout partner to keep them on track, you may consider an execution coach. We are quicker to let our own selves down faster than someone else. That’s why people pay big bucks for personal trainers at the gym.

How much more could you earn this year if you had someone holding you personally accountable for your sales execution each and every week?

Step #5: Hit the “Off” Button

This might be the most important one on the list. We are becoming a society that is completely reactive to the bells and buzzers of our devices. Get very good at shutting these devices off. They kill your productivity.

Step #6: Get Help

You may not have ever learned how to execute at high levels of performance so you might need some training. Seek out programs and courses that will give you the skills and tools you are lacking. There are plenty of resources out there.

It’s time to stop distracting ourselves and start crushing our sales.

Ready? Set? LET’S EXECUTE!

Happy Selling,

David

Each morning I usually start my day by looking at my calendar. Normally it is just a cursory view where I check to see what my first event of the day is and then look at what the rest of the day holds in store. This time though a chill ran up my spine for I noticed that a time of  year that I fear every year has arrived, the month of July.

You see, each year I have high hopes for July. Business will be good. Merchants looking for merchant services will be eager to sign. Our team of sales professionals will keep up their marketing pace. However, each year as July ends I am sorely disappointed.

Although processing volume from existing merchants tends to grow, new production growth staggers along. By the end of the month, production is typically at the second lowest level of the year, coming in right behind December, It shouldn’t have to be this way.

It was 8 maybe 9 years ago when I became aware of this disturbing trend. At  first I thought it was solely due to the Independence Day holiday, as it often fell in the middle of the week and resulted in one full lost week. So of course, production was generally lower.

However, even when it fell on a Monday or a Friday, July production still seemed to drop.

Over the years I have written blog posts about this phenomenon and included suggestions on how to overcome the slowdown.

Unfortunately though my suggestions don’t seem to help very much. That’s why this year I decided to try a different approach and instead asked my contacts at various  credit card processing companies for their opinion of why July, well, stinks. Here are some of the responses that I received.

“It seems like a good time to take a break. The year is half over, the kids are home, and it’s been a good year. A vacation seems warranted.”

“No one else seems to be out working. I can be confident my merchants aren’t getting hammered with offers, so I usually use the month to catch up on a few things.”

“It’s too hot.”

“July is going to be slow, so I just accept it as a fact and make plans for August.”

All of these responses have one thing in common: they show that calls on prospects for credit card processing services either slow or drop off completely for a period of time. The result? All momentum built over the past three months disappears, and the time to recoup that momentum results in a slow start to August.

Yet when I asked if they would like some proven techniques that would improve their productivity in July, most said they probably wouldn’t use them. To me this means that they either find the July slowdown okay or they actually look at it as part of their typical business cycle.

I would like to note that there were two contrarians to these comments though.

“I have found over the past several years that July has been one of my better months. You know why? There’s no competition. I walk into a merchant and I am not the fifth, tenth, or twentieth merchant salesperon to walk in the door. They have more time and they listen.”

“July is the month when I can sign merchants without offering better rates. In fact, it’s a month when most merchants aren’t demanding cost savings because there isn’t some ‘salesperson’ out there making a bunch of bogus promises.”

Notice something? The common theme is that they find that there is less competition, but still a lot of business to be found. Without the competition they feel less pressure and are able to sign merchants with less difficulty.

It doesn’t matter how hot it is or if there are opportunities to take time off. Instead they save their vacation time for later. They leverage their momentum because they know that the merchants they sign will likely be more profitable and more loyal.

July still scares me since the majority of merchant services sales peope still seem to fall in the first group. However, for those that stay focused and persevere and seek sales tips from credit card processing companies, they will find success and happiness come August.

Happy Selling,

David

When selling merchant services we sales professionals often encounter a variety of objections from potential clients. These objections typically stem from concerns about cost, complexity, and security, among other issues.

From the Home Office in Fee’s To High, Arizona

Here are the Top 10 most common objections and some

insights into why they arise.

10. “The fees are too high.”

Insight: Business owners are often worried about the additional costs associated with merchant services. They may be comparing these fees to their current expenses or to perceived benefits.

Addressing These Objections: Cost Justification: Offering a surcharge or dual pricing option will emphasize the ROI by explaining how the benefits, cost savings, increased sales, improved customer experience, and enhanced security, can outweigh their concerns.

9. “I’m happy with my current provider.”

Insight: Change can be daunting, especially if the current system is familiar and functional. Businesses might not see a compelling reason to switch unless the new service clearly demonstrates superior value.

Addressing These Objections: Demonstrating Value: Provide clear, tangible benefits of your service compared to the current provider, including unique features and better terms.

8. “The system is too complicated.”

Insight: Fear of complex technology and a steep learning curve can deter businesses from adopting new systems. Owners and staff may be concerned about the time and effort required to learn and operate a new system.

Addressing These Objections: Simplification and Support: Highlight the user-friendly nature of your system and the comprehensive training and ongoing support you and your company offers.

7. “Switching providers is a hassle.”

Insight: The process of transitioning from one provider to another can seem disruptive and time-consuming. Business owners might worry about potential downtime and the impact on their operations.

Addressing These Objections: Streamlined Transition: Reassure them that you offer a seamless switching process, including data migration and minimal downtime.

6. “Security of customer data is a concern.”

Insight: With increasing incidences of data breaches, businesses are rightly concerned about the security of their customers’ sensitive information. They need reassurance that the new system will protect against fraud and data theft.

Addressing These Objections: Security Assurance: Stress your compliance with industry standards like PCI DSS and the use of advanced security measures like encryption and tokenization.

5. “It’s too expensive for a small business like mine.”

Insight: Small business owners might feel that advanced merchant services are only affordable or necessary for larger companies. They worry about the financial impact on their tight budgets.

Addressing These Objections: Affordable Options: Present scalable and flexible pricing plans that can cater to businesses of all sizes, including small businesses.

4. “What if there’s a problem with the system?”

Insight: The reliability of merchant services is crucial. Business owners fear that technical issues could lead to downtime, which would disrupt their operations and affect customer satisfaction.

Addressing These Objections: Reliability: Offer testimonials, case studies, and data on your system’s reliability and your company’s customer support.

3. “I don’t want to be locked into a long-term contract.”

Insight: Long-term commitments can be risky, especially if the business is unsure about the future benefits of the service. Flexibility is important to them.

Addressing These Objections: Flexible Contracts: Offer flexible contract options, including month-to-month agreements and trial periods, to reduce the perceived risk.

2. “The setup process will disrupt my business.”

Insight: Concerns about the initial implementation period are common. Business owners fear that the installation and training process might interfere with their day-to-day operations.

Addressing These Objections: Minimal Disruption: Ensure that the setup process is designed to minimize disruption, with options for installation and training during off-peak hours.

And the #1 Top 10 most common objections and some

insights into why they arise is …

1. “There are too many options; it’s overwhelming.”

Insight: The many hardware & software options available can be confusing. Business owners might struggle to differentiate between options and choose the one that best fits their needs.

Addressing These Objections: Personalized Consultation: Provide a consultation service to help businesses navigate their options and choose the best fit for their specific needs.

By understanding and addressing these common objections effectively, you can better position our services as a valuable and essential component of a prospects success. Let me know what tips you may have in dealing with objective behavior.

Have a great weekend,

David

Since we been talking about handling objections the last few days let me share a family story about my grandson. As the waiter served my family our dinner while we were out celebrating my daughter’s birthday, her five-year-old son, my grandson declared his favorite mealtime phrase, “I don’t like that.”

We hear this often at dinners, as my sweet and opinionated grandson is a very picky eater. He even uses the phrase when he has chosen the meal sometimes.

Either the food wasn’t plated just as he had imagined or he changed his mind about it. This time though, my daughter was tied up with her youngest child, so I stepped in. Because handling sales objections is what I do, I decided to approach his objection like I would any other.

So I asked “why?”The conversation went like this:

He said, “I just don’t like it.”

Me: “But you haven’t even tried it.”

He: “I know I don’t like it.”

Me: “You chose it.”

He: “I chose mac and cheese.”

Me: “That is mac and cheese.”

He: “No it’s not, it’s not yellow enough.”

Me: Ahhhhhh….

Rather than try to solve the first statement, “I just don’t like it,” I used a process for handling sales objections that I’ve refined over the years to get to the meat of the matter. It wasn’t that my grandson just didn’t like it, or that he had chosen it and changed his mind. Rather, it was a simple color issue.

Handling Sales Objections

We all face objections every day in the payments world. Merchants often raise reasons why they won’t move, won’t consider moving, or won’t even listen to what you have to say. Handling objections may be the biggest challenge salespeople face.

I am sorry to say, but there are no shortcuts. In fact, most people try to short circuit the questions by jumping in at the first comment that appears to be an objection. The results are not positive.

After a situation like that I often get a call from the deflated salesperson asking me what I would have done, and I think, “something completely different.”  Handling objections is not about responding to the actual objections, it’s about diagnosing them. (Read this blog)

In almost every case, an objection is a symptom, not the true issue. You need to probe a little to get to the true issue. To do so, you need to refrain from the temptation to immediately respond to their objection and instead ask the merchant a question.

These questions can vary, but unlike the simple one-word question, you want to ask a question that garners more detail.  Examples include:

• Could you tell me more about your concern?
• It sounds like this has happened often/before. Can you give me when and what happened?
• Could you explain your question?

They may reply with the same objection. If so, reverse it. For example, say a merchant’s objection is, “I am not interested” and their response to your first question is, “You people come in all the time with all these promises. I just don’t believe what you’re saying or promising will actually happen.”

It’s important to understand that their first objection may lead to another objection that is still a symptom. In this example, they weren’t interested because they perceived others in our profession didn’t keep their promises. And knowing this doesn’t necessarily allow you to diagnose the true objection. You must probe further.

Reverse it in this fashion: “I can understand your concern, and I am aware of many in my profession who make promises they can’t keep. But we aren’t all that way. I know I’m not. In fact, I don’t even know if I have a solution that works for you. Could you tell me some of the promises that haven’t been kept? What are the issues you have that they didn’t solve?”
Get to the True Objection

As you can probably tell, the true key to handling sales objections is to relentlessly ask questions until you get the true objection. Then address that objection head on.

Back to my original example with the skeptical merchant. The merchant might have been burned by promises in the past such as reducing cost or providing next day funding. When they realized that they had been taken advantage of, the merchant likely decided to guard themselves from future payments professionals with a fool-me-once kind of attitude.

Yes, this may take a little more time than desired, but the results are worth it. Invest the time, and you ultimately save yourself time in the long run. You may also have a happier merchant.

Oh, and I solved my grandson’s true objection rather simply. I asked the waiter for a little shredded yellow cheese. I sprinkled it on the top, and the color issue was solved, Mission Accomplished!!

Happy Selling,

David

In our daily prospecting life of selling merchant services, the phrase “I’m happy with our current provider” is a commonly heard . It’s understandable why businesses might default to this response; after all, change can be daunting, and if things seem to be working fine, why rock the boat? However, this sentiment often belies a deeper issue: complacency.

While loyalty to a service provider is commendable, it’s essential for businesses to periodically reassess their relationships to ensure they’re receiving the best possible value and support. In the dynamic landscape of merchant services, where technology evolves rapidly and competition is fierce, resting on one’s laurels can lead to missed opportunities and potential pitfalls. Here are some common rebuttals to the assertion that one is content with their current provider:

1. “But Are You Truly Getting the Best Rates?”: One of the primary reasons for businesses to explore alternative merchant service providers is to ensure they’re getting the most competitive rates available. While your current provider may have offered a good deal when you first signed on, rates can fluctuate over time, and what was once competitive may now be less so. By shopping around, you can discover if there are better rates or more favorable terms available elsewhere. This makes for an excellent opportunity to offer a dual pricing program. Offering unlimited processing for one low price is a BIG draw to getting a business to switch to your services.
2. “What About Additional Services and Features?”: Beyond rates, it’s crucial to consider what additional services and features your current provider offers compared to competitors. Are there innovative payment solutions, robust analytics tools, or personalized customer support options that could benefit your business? Sticking with the status quo may mean missing out on advancements that could streamline operations and enhance the customer experience.
3. “Have You Considered Customer Service and Support?”: The level of customer service and support provided by a merchant service provider can make a significant difference in your day-to-day operations. While you may have had positive experiences thus far, it’s worth investigating whether other providers offer more responsive support, quicker issue resolution, or proactive account management. In the event of technical difficulties or payment processing issues, having reliable support can be invaluable.
4. “Is Your Provider Keeping Pace with Technology?”: Technology is constantly evolving in the realm of payment processing, with advancements such as contactless payments, mobile wallets, and omnichannel integration becoming increasingly prevalent. If your current provider isn’t keeping pace with these developments, you could be missing out on opportunities to improve efficiency and adapt to changing consumer preferences. Exploring alternative providers may reveal solutions better aligned with your technological needs.
5. “What about Contract Terms and Flexibility?”: Finally, it’s essential to review the terms of your contract with your current provider. Are there hidden fees, long-term commitments, or restrictive terms that could be inhibiting your flexibility or scalability? Many businesses find themselves locked into contracts that no longer serve their needs, making it challenging to pivot or negotiate better terms. Exploring alternative providers could uncover more flexible arrangements better suited to your business objectives.

Here is a sample script I have used.

Prospect:  “We use ABC company, and we are happy with them.”
Me:  “Now is that a local company or one of the big corporate processors?  Do they have someone local who services your account?”
Prospect:  “I think it is a big company.”
Me:  “Let me ask you one question, and I will let you go.  Let’s say you were purchasing ABC (something of which the prospect’s business type would purchase a lot) from Sam’s and were happy with the product.  However, a local vendor came in and said, ‘I think I can get you a better price for the same quality product as you are currently purchasing at Sam’s.’   Would you at least let that vendor give you an estimate to support our local small business community?”
Prospect:  “Yes, I would.”
Me:  “That is all I am asking for today.  You are using a big processing company, but I am a local business owner.  I actually think I can beat their price and provide you with better service since I am local.  Would you at least allow me to give you a free cost comparison?”

While professing contentment with one’s current merchant service provider may seem like the path of least resistance, it’s essential for us to challenge to challenge their status quo and periodically have them reassess their options. By considering factors such as rates, services, local support, technology, and contract terms, you can ensure they’re making informed decisions that align with their objectives and drive continued success. So the next time someone says to you, “I’m happy with our current provider,” help them consider whether there might be room for improvement. After all, complacency is the enemy of progress.

Happy Selling,

David

I have spent a lot of time over the years answering sales partner questions about overcoming objections.  Off the top of my head, I could probably list twenty common objections heard when selling merchant services and two or three ways to rebuttal each objection.  However, today I am going to single out the one objection that costs sales people more money than any other and give three steps to overcome this sales killer.

What is the worst objection when selling merchant services?  

Without a doubt the “secret objections” you never hear are the worst.  

Sales people are so consumed with making sure prospects like them that they often leave a mountain of “secret objections” in the mind of prospects.  These objections kill the sale every time.  How do you know if prospects have lots of “secret objections”?  If you can identify with any of the statements below, you are probably losing sales due to secret objections:

• “Although I feel like most of the business owners to whom I talk really like me, I just can’t seem to close the sale.”
• “Often when I get to the point of closing, I don’t feel like the prospect is ready. Therefore, I frequently just walk away, giving the prospect time to think over my cost comparison.”
• “I never feel like I am in control of the sales process.  I don’t feel like there is much I can do about whether or not the merchant is going to buy; that is up to the merchant.”
• “My market is really tough; I don’t think anyone could sell merchant services here.  Everyone just gives me short objections like, ‘I am n
  ot interested.’ or ‘I am happy with my current service.’ Then I have no choice but to walk out and move on to the next store.”

If you feel out-of-control or powerless to change the mind of your prospects, it is because there are specific objections about which you are unaware.  These objections prohibit you from making any progress.  So let me help you understand the problem.  Then I guarantee you will increase your sales numbers in a big way if you implement the three solutions given below!

The problem here IS NOT –

• what you are saying.
• what the prospect is saying.
• your market.
• all the “mean” small business owners you keep running into.

The problem IS simply a lack of information.  You don’t know the merchants’ true concerns, and the merchants don’t know what you would do to address their concerns.   If you know what is truly bothering the business owners and if the business owners truly know what you would be willing to do for them to address those concerns, you would close almost every prospect.

Following are three steps to overcoming “secret objections”:

1. Ask for the information.  Then…. ask for it again and again and again.  For those of you who identified with the statements above about business owners liking you, this first step will be the most difficult.  Somehow you have convinced yourself that these business owners really like you and that your relationship could be damaged if you actually do business with them.  You need to WAKE UP from this fairy tale!

Are business owners who haven’t bought from you having you over to their house for a BBQ?  Are they referring business to you?  NO!!!  You know why?  Because they are not your friends; the value of your relationship with them is a big fat zero!  Until you create a working relationship where goods and services are being exchanged, you do not have a valuable business relationship.

Imagine you are in a business where the owner with whom you “feel like” you “connected” says, “Thanks for stopping in, Bob.  I am sure you will do great in this market, but we are happy with our current service.  So we are not interested.”  Don’t walk away and let him or her off the hook that easily.  Instead, ask for the information:

“Sue, first of all thank you for taking time to speak with me today.  It really is a pleasure to meet you.  That being said, you know I would never be successful in business if I didn’t dig a little deeper.  Why are you satisfied with your current provider?  Many times I find business owners tolerate their credit card processor but are not truly satisfied with them.  Have they done anything to really impress you, or are you just saying you don’t want to deal with the hassle of switching again?”

A statement like this is bound to get you some good information!  Is there a chance the business owner will think you are pushy and “like” you a little less?  Of course there is!  Welcome to sales!  You have to ask for the information over and over again.  Think of it like digging for treasure.  You have to keep digging to get the information you need, so you can respond and provide business owners with the information they need.  Once you both have all the information, your odds of closing the deal go through the roof!

2. Rebuttal every objection.  There is no objection that I will not try to rebuttal at least once.  One of my best accounts came after a business owner told me his college friend did the processing for him.  If I was concerned about this guy “liking” me, I would have said the same thing every other rep had said to this guy for years every time he used that objection – “That’s great! I would never want to interfere with a personal friendship. Have a great day.”

Instead, here was my reply, “That’s great.  I don’t know the nature of your friendship and certainly don’t want to get into that.  But if I was able to save you several hundred dollars per month, would you be interested?”  It turns out he didn’t have a college friend who was involved in credit card processing.  He just made that up to scare away sales people.  Once I had the right information, and he knew what I could offer, he signed on the spot.  Eventually he switched seven locations over to me.

Now is time for many of you to wake up and realize you are in sales!  That means your job is providing necessary information to your prospects in order for them to make an informed purchasing decision.  Obviously, the last thing in the world a small business owner wants to do with his or her day is sit listening to you pontificate about electronic payment processing.  This is an inherent struggle.  You have to work hard to collect the information you need.  Then you must enhance your presentation skills to get business owners the information they need in response.

3. Close the sale.  Nothing will bring secret objections to the surface faster than closing the sale.  This cycle of asking for information and then providing information MUST always end with a closing statement.  Many of you have no idea what the real objection is because you never close hard enough to find out.  A typical conversation with a prospect who becomes a customer will include three or four closing statements that don’t lead to a “yes” or “no.” Instead, they lead to a half-hearted “no” like, “I would be interested, but I am in a contract.”  or “That does sound interesting, but my bank does my processing; I don’t want to upset them.”  Now you have the information you need. Give a rebuttal, present your information, and close again.

After spending countless hours on the phone with sales people who can’t seem to make a sale, I personally believe this simple three-step process which is at the core of sales is being missed by the below average sales reps.  They have a fundamentally flawed view about what sales is.  Their thinking views sales as a social transaction like adding a new follower on twitter or simply providing the relevant information while allowing the prospect to decide whether to move forward.  Sales is a business transaction based on value.  Yes, the prospect needs to like you and trust you.  But if you can’t get prospects to like and trust you, then you are in the wrong business.  Most sales people struggling to succeed are actually very well-liked by prospects.  The issue is in failing to dig for the information they need or not knowing what to say when they get the objection.  Worse yet is when they accomplish both of these first two steps but fail to close the sale! 

As a result, thousands of sales are lost each and every day by sales people around the world.  Don’t become a statistic of bad performance; decide to be a success by following this simple three-step process.

Happy Selling,

David

 Ambition plays a key role when it comes to having success. However, ambition alone is not enough. There must be something that motivates us to succeed. That motivation encourages us to take action towards working on achieving great results. Ambition is the strong desire to accomplish something that is important to you.

Motivation is the WHY behind your actions. Motivation allows you to actualize your ambition and achieve the success that you desire. The first step is to determine the motivation behind your ambition. It’s important to truly understand what motivates you and what drives you to take action. Determine your WHY and understand what your purpose is.

In order to feel motivated, you must do something that you are passionate about. Let me encourage you to write out what you most want to accomplish in your personal and professional life. List the goals that will help you to live a successful and better life. Once you have done that, put together an action plan on what it’s going to take to achieve those goals. Break down your big goals into smaller ones. On your journey to success, it’s important to have milestones that you can celebrate. This will help you stay motivated to continue working towards your big goal. Achieving a big goal is the sum of all the small victories along the way.

To stay motivated, it is important to take the time to reward yourself for all your accomplishments. By celebrating your dedication and commitment, you give yourself the motivation to keep going forward. The key to keep moving forward is to track your progress. As you are taking consistent action towards achieving your goal, write down your progress. This allows you to take a step back and absorb your hard work along the way. Put together a success journal and record all of your accomplishments. This will act as a great reminder whenever you feel like you are lacking motivation.

Surround yourself with winners. A strong mentor will help you understand yourself better and more quickly. They can assist you in developing an action plan on how to achieve your life goals. It is important to find a mentor who’s going to hold you accountable and help you to stay on track.

You have within you great ambition to succeed. Make sure that your reason is strong enough to keep you motivated. You will experience challenges along the way. When they come, you must remember why you begin in the first place. The ambition is important and so is the motivation.

However, nothing gets accomplished until you take consistent action. Success is a journey, not a destination. Keep plugging away and enjoy this wonderful journey. 

Happy Selling,

David

It’s been over 26 years since the Seinfeld show left the television airways, but it remains the undisputed classic television comedy. With the ending of Curb your Enthusiasm and Jerry Seinfeld’s new show on Netflix called Unfrosted, I thought it was time to revisit the show about nothing But, here’s a little known fact: did you know that you can learn a lot about sales and selling from watching Seinfeld clips? It’s true! Which bring me to this weeks top 10 list, 

I’ve gathered 10 ten clips, each of which illustrates a basic principle of selling, sales technique, or sales psychology. As usual, We will do this in David Letterman fashion.

From the home office in COSMO, FLORIDA, Here are

The Top 10 Sales Tips from “Seinfeld”

Here we go…

10.  In sales, determination isn’t enough; you also need  basic skills, like how to answer an objection.

9.  If your offering is good enough (like the soup in this clip), you can actually increase sales by making it more exclusive and more difficult to buy.

8. In sales, as in all business, simply showing up is half the battle. Even if you don’t really do anything.

7. Newman’s Big Request –  If your sales pitch does not work, don’t take it too personally.

6. BUSY GEORGE – Now you know why the marketing team always looks so busy.

5.  THE TELEMARKETER – Make sure you cold-call at the right time.

4. ELAINE’S DANCE – Never drink more than just a sip or two in front of merchants or co-workers. Never.

3.  JERRY BUYS A JACKET – Let the customer sell himself, then close the deal.

2. George’s New Suit –  Never wear a completely new suit when meeting a customer for the first time lest you run into an unexpected “wardrobe malfunction.”

And the #1    Sales Tips from Seinfeld.

1. OPPOSITE GEORGE –  If what you’re doing isn’t working, try something completely different.

Well there you have it sales professionals. We can find sales tips anywhere, all we have too do is look for them. 

Have a awesome weekend,

David