In the world of sales, there is always cause and effect. if you only made one sale in a month, that’s the effect. In this video, we’ll look at the cause, the six reasons why you’re not selling more.
6 Reasons Why You’re Not Selling More
#1: Work Ethic
Sales isn’t a 9-5 gig. Selling requires a lot of time in order to see success. If you go from a traditional job to selling something like real estate, and you still have the same work habits of a regular 9-5 job, you won’t make it in sales. In order to sell more, you must work more than “just enough.”
If you’re not selling much, it could be that you don’t know a lot about the product. If that’s the case, you need to sit down and learn about all of the ins and outs of the products, and be able to answer all of the FAQs.
For instance, if you’re selling mortgages, I’d recommend going through the last 100 loans the bank did and take a look the types of loans. You may observe that 95% of the loans consist of five different loan types. Study the qualifications and other details for each loan type, and become very competent in all those details.
Regardless of what you’re selling, go and study the top five products the company sells and then from there become competent in those five products. You need to know the ins and outs and the FAQs of each of those products.
If you don’t know about the product and the client asks you questions, you may not know how to answer them. After that’s happened a couple of times, you’ll get spooked, and not want to go to other appointments because it’s uncomfortable to not know the answers to questions.
You may not know how to sell. For instance, you may not know how to ask the right questions, build relationships and rapport, how to start or end meetings, and so on.
Identity is believing in yourself, and that you’re worth the person doing business with you. If you don’t think you’re worth a $10K commission check, you probably won’t get that commission check. You probably won’t be able to close the sale because the client will get the feeling that you don’t think you belong in the big leagues.
For instance, a person that only focuses on selling $350K homes, and then comes across a client with a $1.5M property will subconsciously convey their lack of experience and confidence. The client will generally perceive whether or not the person has ever sold a $1.5M home and will think, “Oh, I don’t believe he really knows what he’s doing.”
How to work on your identity: Be around other people that earn more than you that do, are way ahead of you, and have higher energy then you.
Constantly work on your identity through attending the right conferences, listening to the right podcasts, watching the right videos, and reading the right books. By doing so, you’ll increase your identity, and you’ll begin to feel and really believe that you’re worthy of making those bigger sales.
#5: People Skills
A lot of times when I go to a restaurant or airport, I watch people and size them up. I imagine what they’re thinking about. This is helpful because when you’re in a meeting, you need to be able to read body language. When you do, you’ll know how to ask the right questions to respectfully ask them to pay attention to you.
Otherwise they may think, “Who are you to come to my house and ask me to turn off the T.V.? Who are you to sit down with me and tell me to stop checking my phone? Who are you to do that?” If you have the right people skills, you’ll know how to have that type of conversation with them.
You can also observe the top five people that you know that are very good with people. Study them. When they’re talking with someone, watch what they do, how they sit, smile, the tone they use, etc.
The good news about people skills are that it’s a skill that can be learned. People aren’t just born with it.
#6: Belief in the Product
You have to believe in the product you’re selling.
For instance, I’m a big, big believer in the financial industry. I’m a big believer in what investments, insurance, and annuities will do for you. I’m also a big believer in becoming an entrepreneur. I’m a big believer in our product.
Anybody that I enjoy doing business with for very long are big believers in their product.
There’s a guy that I’ve bought cars from over the years. He believes in the company he represents. There is one main guy that I call and he just delivers cars to me. I’ve been buying cars from him for the past eight years. He bleeds cars. When I talk to him, it’s all about cars. He believes in making a difference with cars.
I want to do business with people like him who believe in what they’re selling.
Having said that, some people use, “I don’t believe in the product” as a cop out. If you say that, it could be that you’re not giving yourself a chance to get engaged and haven’t immerse yourself in a product. You need to see the passion and heart behind the product, to learn the product and the effects it has on the people. Yes, it may happen where sometimes you don’t believe in the product, but that can be a cop out on why you’re not selling more.
Typically, the #1 reason why most people don’t sell is point #1 – work ethic. Unless you have a strong work ethic, you won’t sell.
Rank yourself in each of the six areas from 0-10 and attack the areas that you’re having problems with. Find people who are good in those areas. Read books that will help you improve in your weak areas, and you’ll see your sales skills typically go higher. Nowadays there’s no reason why someone that gets these six points right shouldn’t be making a six-figure income selling.
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