Podcast Summary
Belief in selling is a continuum, not a binary question: Deeply believing in your product or service increases your chances of making a sale and growing your business
Belief in what you are selling is not a binary question, but rather a continuum. The extent to which you believe in your product or service significantly impacts your ability to sell it. According to the podcast "The Game," the wealthiest people in business view it as a game, and those who build successful businesses have deep conviction in what they offer. Onna, a guest on the podcast, emphasizes the importance of the belief continuum in closing deals. While some may ask if they believe in what they are selling, a more accurate question is to what extent they believe. A prospect may have little to no belief bubble, while a salesperson's belief bubble is filled with conviction. The podcast offers two simple equations for selling based on this concept. While there is a skill to sales, the belief in the value of the product or service is a crucial factor in making a sale. By deeply believing in what you offer, you will increase your chances of closing deals and growing your business.
Understanding the prospect's needs and pain points: Success in sales depends on both sales skills and deep conviction in the solution. Conviction comes from understanding the prospect's needs and pain points.
The key to successful sales lies not only in knowing what to say and how to say it, but also in having deep conviction in the solution you're offering. This conviction comes from a thorough understanding of your prospect's needs and pain points. Most sales training focuses too much on educating salespeople about the product and not enough about the prospect. In fact, many salespeople fail to listen to their prospects at all and simply deliver their pitch. However, if you don't understand your prospect's problem, how can you believe that your product is the solution? Successful businesses are often founded by individuals who have personally experienced a problem and then went on to solve it for others. Their deep understanding of the prospect's thoughts, needs, and pains, and how their product addresses those issues, gives them a high level of conviction. The equation for increasing closing percentage is skill of sales multiplied by the extent of belief. While skill is important, belief can grow to a much higher level, making it a more significant factor in sales success. So, when educating a sales team or yourself, focus on understanding the prospect and their needs, rather than just the product.
Belief in what you sell matters: Strong belief in products/services and ability to solve prospects' problems significantly impacts closing percentage
While sales skills are important, the conviction a salesperson holds about what they are selling is a significantly underutilized yet powerful factor in closing deals. Conviction is a belief that can range from 1 to 100, and even with average sales skills, a strong belief can lead to successful sales. Sales is fundamentally a transference of belief, and attempting to transfer a half-full cup of belief to a prospect is unlikely to be enough for them to make a purchasing decision. Focusing on sales techniques while neglecting conviction is a missed opportunity. Sales teams and individuals should strive to believe deeply in their products or services and their ability to solve prospects' problems. This belief will significantly impact the closing percentage of an individual or team. Additionally, maintaining a strong work ethic is crucial in sales. While conviction is a key factor, consistent effort and dedication to the sales process are essential for success.
The importance of high closing percentage and large number of deals closed in sales performance: Investing in successful ventures with conviction leads to significant financial gains, while high closing percentage and large number of deals closed maximize sales success.
The combination of high closing percentage and high number of deals closed is crucial for expert sales performance. While a low closing percentage can be offset by a strong work ethic, which leads to more follow-ups and increased opportunities, having both a high closing percentage and a large number of deals closed maximizes sales success. Conviction, a key component of sales expertise, plays a significant role by driving salespeople to follow up more frequently and persistently, as they believe in the value of their product or service. If given the opportunity to go back in time, investing all available funds into successful ventures like Bitcoin, Amazon, or Tesla would have significantly increased one's financial gains, demonstrating the importance of both skill and conviction in sales and investments.
Belief is key to successful selling: Instilling deep-rooted belief in products or services is crucial for sales success, even more important than selling skills
The belief and conviction a salesperson has in what they are selling is just as important, if not more so, than the selling skills they possess. This conviction comes from a deep-rooted belief that the product or service can genuinely solve the prospect's problem. This perspective shift is crucial for sales managers looking to create effective sales teams. Religious movements serve as an excellent example of this concept. They sell an intangible and often challenging-to-sell idea, yet they don't focus on teaching the skill of selling. Instead, they instill a strong belief in their followers. As a salesperson, it's essential to be fully invested in the products or services you're selling. If your team lacks this conviction, it's a problem that needs addressing, regardless of their ability to clarify the prospect's problem. While selling skills are essential, they should not overshadow the importance of belief. By focusing on instilling belief, everything else, including sales skills, will fall into place.
The power of a salesperson's belief: A salesperson's strong belief in their product drives their sales success by fueling their skills, persistence, and follow-up efforts.
The effectiveness of sales depends greatly on the salesperson's belief in the product or solution they are selling. If a salesperson wholeheartedly believes in what they are offering, they will naturally invest more time and effort into perfecting their skills and connecting with potential customers. This belief transfer is crucial, as it's not a matter of whether a salesperson believes but rather the intensity of their belief. A strong belief will drive them to follow up with leads promptly, respond quickly, and persistently, knowing the positive impact their product can have on people's lives. In essence, the art of sales lies in the transference of genuine belief from the salesperson to the customer.
