To me, selling is a noble art. It means listening to people, understanding the problems they’re facing, and offering to help them.
Not everyone feels the same. To many, selling is a dirty word. If you’re in business, this is an attitude you can’t afford. Selling is essential if you wish to sustain and replenish your customer base. And selling is easy when both parties win from the negotiation.
Here’s an example. Last month, I signed up a new client. He came to me with a unique problem. His business is tied to a specific supplier, and he thought severing those links would lower his acquisition costs.
So far, this problem doesn’t sound unusual. But there’s a twist. His supplier offered favourable payment terms, very favourable. If my client withdrew from the agreement, he’d have to fund his working capital himself.
Maybe he’d succeed. But I identified three or four ways that self-funding could blow up in his face. Right now, his business has huge growth potential. So rather than changing suppliers, I suggested building an even stronger business, while keeping his current supplier arrangements.
His accountant hadn’t foreseen either the potential problems, or the opportunities for growth. Indeed, my client had sought legal advice, to see if he could end his current supply contract.
When you’re so far down the road, it can be hard to change course. But my new client wasn’t happy with the level of service his accountant provided. He was ready to jump. So he asked me to prepare a proposal for him.
Asking for a proposal is a clear buying signal. As is asking about pricing, or exploring how a business relationship would work. If a prospect’s sitting in the room with you, there’ll be a whole range of verbal and non-verbal cues that convey interest. You’re attuned to them. If you weren’t, you wouldn’t be running a successful business.
So I sent my man a proposal. He chose the option he liked best, and signed on the bottom line. A win for both of us.
I’ve been reflecting on this experience because I’ve spent 20 years refining my selling process. Even so, there’ve been times when I’ve stuffed up. But I’ve learned from every mistake I’ve made, and resolved never to repeat them.
When a prospect indicates a willingness to buy, the ball lands firmly in your court. These pivot points are critical. Because every confirmed buyer expects a clear selling signal in response. So you’d better have some options ready to go. And you need to value your products and services accurately.
This is where I’ve been caught out in the past. When I was younger, there were times when I was desperate to close the sale. Sometimes I’d bid too low, just to land the deal. Other times I’d bid too high, because I hadn’t listened closely to my prospect, or gauged their expectations, or their level of trust.
Any time I missed out on a sale, or priced myself too low, I felt like someone had punched me in the guts. My response was visceral. This drove me to fine-tune my selling process. Because I couldn’t stand that feeling of loss in the pit of my stomach.
I’m older now, and hopefully wiser. I’m no longer anxious to close a deal for its own sake. Instead, I want to work with people who understand how my financial concierge services, monthly accounting, 24-month rolling forecasts, a deep appreciation of my clients’ financial goals, and individually tailored support at each step of their life journeys, enable them to live their best lives.
You and I understand buying and selling signals. But we can always lift our performance. Bringing in new work leads to increased profits, but only if we can deliver our promises, and price our work according to its value.
So my challenge to you is two-fold: can you sharpen your awareness of your clients’ buying signals? And once they’ve shown they’re ready to buy, how smartly do you pivot? Any time you’ve misread the situation, take time to review your actions, and adjust your sales strategy accordingly. After all, the only lost opportunities are those we refuse to learn from!