In follow up discussions with participants from my seminars, I often ask: "What motivated you to come to the seminar?" Here is a fascinating story from one participant, on why she came, and what she discovered that turned her business completely around.
Gayle McGory's sales and marketing funnel was—leaking like Niagara Falls at over $180,000 a year—and even worse, she didn't know why. At first, she thought that it was the lousy economy, especially when you read headlines every day like:
"Job cuts accelerated in October as employers eliminated 263,000 positions, more than expected...in a further sign that labor-market pain is unlikely to end soon...the unemployment rate rose to 10.2%"—The Wall Street Journal
"Everybody is reining in their spending; it's not just us," she thought.
But that wasn't the answer. The terrible fact was that she and her sales team had slipped into unpaid consulting. They were deluding themselves thinking that if they could provide high quality up-front value to their prospects, they would in turn, earn gratitude, respect...
...and a fat paycheck in a turbulent business development climate.
Her sales funnel was full at the top, but only a trickle was coming out at the bottom. What was going horribly wrong? Should she launch another expensive marketing campaign? She was spending countless hours in research, writing proposals, and answering "what-if" questions from skeptical buyers who needed more hand-holding than she had time for.
Deals that used to be done in two weeks were dragging out to three months, and some of the larger proposals were disappearing into thin air. And, she couldn't raise her fees--not in this economy!
What was going on?
What she didn't realize was that they were engaged in a buyer-seller dance in which the prospects were leeching on Gayle's expertise so that they could negotiate a better deal with Gayle's competitors.
Have you ever engaged in the buyer-seller dance with your prospects?
Have you let good money walk out the door?
Money, that should be in your pocket to grow your business and quality of life and remains hidden, forcing you to settle for less than you hoped for--just to land the order. Or even worse, losing the sale altogether while you are constantly wondering, "what the heck happened?"
It could be thousands, tens of thousands of dollars a year--even more? Keeping your cash flow strong and healthy is critical to being successful in today's uncertain economy...
...and the only alternative is taking on more debt which is the slow kiss of death!
...And, yes Gayle's story has a happy ending.
Gayle was getting desperate and approached her CPA Brent Nasra for advice on how to get more business financing. Alarmed at Gayle's rapidly declining cash flow, he advised against it:
"Looking at your balance sheet and the fact that you are getting close to your credit card limits, taking on more debt now, will bankrupt your business."
Instead, he recommended that Gayle attend my free business development seminar and subscribe to my free newsletter. (Brent is also my CPA, hence the connection.)
He explained,"I like how Tom walks the participants through a financial calculation that reveals exactly what the problem is in generating revenue and then he gives them practical suggestions on what to do about it."
She was very skeptical, but decided why not-- "I've got nothing to lose. Maybe I'll learn something new."
Much to her amazement, she discovered how to strengthen her negotiating skills by using a little known technique called the Up-Front Agreement:
Now before each meeting, she reviews, with the buyer, on the phone, the Up-front Agreement's 5 key elements of what will happen in the meeting; skillfully defusing sales-killing bombs before they blow-up.
Her attitude has improved too, because she no longer accepts "mutual mystification" when communicating with others; having learned, from the seminar, the Reversing technique which is:
Diplomatically, asking open-ended questions to gain greater rapport, understanding and commitment from both staff and clients.
She quickly repaired her sales and marketing funnel and now Gayle is on a record setting pace of 215% in new fees-- compared to this time last year.*
At this point, you are probably wondering just what are the 5 key elements to an Up-front Agreement and how do you use Reversing to gain commitments?
Do you want to discover the playbook of closely guarded, hard-won secrets that great salespeople use to keep their competitive edge?
Find those secrets by subscribing to my free ($97 value) report series, The Sales Whisper, below:
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Learn how to automatically close more profitable deals, quickly and easily.
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Get timely tricks of the trade that will increase your bottom line through unconventional means.
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Discover, how to stop unpaid consulting; Get top-dollar in a tough economy. Convert your sales process into a hassle-free sales system and have your prospects begging you to do business with them!
*Disclaimer: Results will vary according to individual circumstances and the willingness of the participant to implement the strategies or advice given by Thomas Reidy. Pseudo names were used in this story to protect individual privacy.
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The Reviews are In...
Understanding the 'pain of the sale' and knowing how to use it will help in contract closures. Thank you!"--Allen Byrne, contractor, Manlius, NY
"Tom's talk exhibited exactly what he talked about: His immediately applicable suggestions are the core principles of effective leadership."--Ron Bildstein, president of Picturestone Promotions
"It is exciting to see all the members participate with a speaker...it is obvious there is a lot more that you could coach about leadership. I enjoyed the exercise in accountability and leadership. Thank you."--Craig Arrison, founder of TrueThinker.com
"Tom is well-organized, professional, entertaining and sure to keep the audience's attention with his interactive presentation. His unique approach to achieving success by knowing what's going on in the mind of your target (prospect, customer, boss, employee, spouse, etc.) should be of interest to all."--John Graves, president of NFC Consulting
"Tom's enthusiasm and clarity help one focus on taking the next step to improving one's effectiveness. His stories of others who have led well, point to what you can do to improve your leadership skills."--Dan Meyers, Brill Securities
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