Look before you leap

I have a friend that was working as a security guard and was tired of it. He decided that he was going to take the leap and become a business owner. He contacted one of the largest burger chains in Israel to open one of their branches. And proceeded to loan 500,000 NIS. He was sure that opening a known burger joint will give him an advantage, and he was right. But all his other decisions were wrong. Continue reading

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Qualifying leads

One of the biggest mistakes you can make when talking to a prospective customer is not getting to the point fast. I understand that for some of your sales it seems like a dirty thing to do, but it doesn’t have to be.

When you’re talking to the right client, and you’re offering something that can actually help it’s just the opposite. Your customers Will eventually come back and thank you for selling them your products. The Thing is, you need to make sure that you’re talking to the right person. Otherwise, you’re wasting your time and his.

How to qualify a lead?

First, let’s explain what qualifying is. You want to make sure the person you’re talking to is looking for a solution you can provide. The second thing is, you want to make sure he’s in a position to make a decision.

How do you know if you can provide a solution?

Simply ask questions. Find out exactly what your prospect is looking for. Find out what he tried in the past. What worked and what didn’t work. And most importantly, what brought him to you?

Asking these questions well allow your client to focus on what he’s really looking for. The reason you need him to focus is for him to make a decision when it’s time to close. Most people just walk around the world looking around and not making up their minds. You can’t have that when you’re trying to close a sale.

How do you know if your prospect is In the position to make a decision?

You ask direct closing questions. For instance, if you’re an insurance salesman and your client has other offers. Just ask, if I can provide you with better coverage for a lower price, will we do business?

There’s only one answer to this question, yes. If you offer somebody more than he’s getting for a lower price, there’s no reason in the world for him to say no. The only person who would not give you a direct answer of yes is a person that cannot make a decision.

There could be many reasons why he can’t make a decision. He might need to talk to his wife, he might need to check his finances. Bottom line, that doesn’t matter when you’re making a sale.

If a client can’t make up his mind. Or is not in a position to make up his mind. Closing him will take too much time, and he will inevitably ask for a refund.

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.

Paying for your mistakes

When I was discharged from the army (something we all have to do in Israel) I started my first business. I was working as a cook at the time and making 1900 ILS, shockingly it was considered a good paycheck in 1995.

I was convinced that I could make more money on my own. So I started a small flyer distribution company. The first month was weak, I only made 200 ILS. Working with one customer and doing everything by myself. By the end of the first year, I had 15 people working for me and was making over 40k a month gross. But I didn’t know how to manage my money.  Continue reading

There’s no such thing as a done deal

A common mistake people make is that they think that getting something means they will have it forever. Even if they don’t take care of it. Your car won’t survive it, your marriage won’t survive it, so why do you think you customers will?

Getting a new customer costs you a lot of money, time and effort. And giving good service is awesome but it’s not enough. You have to give your customer a reason to come back. Shay Carl said one on the Tim Ferriss show, that you have to keep up the courtship long after you get married. You do so much for your girl, you take her out, buy her flowers. All that work so she will have sex with you, why stop after you get married?

Start having special promotions for your returning customers. It could be special products or sales for customers who have been with you for a certain amount of time or that spend a certain amount on your services annually. If new people like to join in they can become customers too, they will get something similar but get them used to the fact that you value you returning customers. Soon they will become returning customers too.