If you are in sales or in business, chances are you have offered your services to a prospect who said NO. What was your response to that? More importantly, what should your response be?
Sales is a numbers game and one of the best lessons I ever learned in sales was from Tom Hopkins (the real estate trainer). He taught me that every “no” puts you one step closer to a “yes.” I have learned to appreciate the “no’s” because you have to have them to win. In fact, Tom taught his students to put a value on a no response by calculating the average revenue per sale and then dividing that my how many “no’s” you had to get before you got a “yes.” If it took 25 “no’s” to get a yes and the “yes” made you $2,500, then every “no” is worth $100. That might be a new and welcomed perspective for some of you.
This morning I was blessed to get two “yeses” before I got a “no.” I got two new clients for my Internet Marketing firm, and one person said no to a business offer. It was a loss for him and a win for me; he lost a great opportunity and I got a “no” out of the way.
If aren’t hearing “no” you aren’t asking for the business. In fact, a “no” often just means that you have not educated your prospect enough or provided them with enough perceived value for parting with their money.
If you “really” want to put this into practice and you sincerely are not getting enough opportunities, then pick up the phone and start calling people to offer them your services. Just remember, a hangup isn’t a no because they didn’t have the chance to hear your offer. Yes, cold calling is tough, but the strong survive and make money through cold calling. I have done it in various forms for decades and it works. Thankfully, most of my business comes from referrals so I have not had the need to do it. Truth be told, it can be a rush, especially when payday comes.
If you make it a goal to get 5 “NO’s” everyday, chances are your business will grow.