by Tiffany | Mar 11, 2015 | Sales, Strategy
Life is sales. Whether you have a formal sales position or not, life is indeed sales in every form. Getting hired at a job is a sales experience. Getting married or getting engaged is a sales process. Getting your children to do their homework or eat their vegetables at some level is a sales process too.
So when you look at this concept in sales, where a lot of people sometimes struggle, or they get in their own way, is they don’t stick with the sales process long enough. They give up too quickly because they haven’t made a fast sale. Life is sales, but sales are simply relationships. And any great relationship takes time.
You’ve probably heard it said before that people like to buy from those they know, like, and trust. That’s influenced me, it’s influenced you, and will continue to be a massive influence for the sales to come in any industry. It is the power of relationship. And any great relationship takes time.
The Law of 4 Interactions is based on research done at Notre Dame University. A gentleman named Herbert True conducted in depth studies of thousands upon thousands of sales interactions. In the observation of that data, they concluded that 60% of sales transactions purchase after a fourth interaction. Now consider that number, SIXTY PERCENT, that means the bulk of your business will purchase after a fourth interaction. All that simply reinforces is that people, again, buy from those they know, like, and trust, and therefore, there is a relationship established there. This more your price point increases for a product, a service, or a program, the more critical relationship leverage will become at influencing that sales transaction.
Now some relationships are going to need more time. Some are going to need less. But if you can understand that concept, that the majority of your business is found after a fourth interaction, you can continue forward with persistence and confidence that your results are coming with time.
Something else I’d like you to consider that goes along with that same study, is that 44% percent of all salespeople will quit after a first contact. Now that’s you and me. Whether you say I’m a business owner, I’m a vice president, an executive, I’m a network marketer, I’m a coach, I’m a healer – whatever titles that you have, we are all in sales. Sales is your ability to influence, persuade, communicate, and most importantly serve, is going to be found again in that relationship. That’s almost half, fifty percent, that would give up and quit right out of the gate. That’s if they even get started! According to this same data, they would make one contact, maybe one phone call, one voice mail, one e-mail, and if they don’t get the response they want, they’re done and they’re off looking for someone else. If you’re in the business of developing massive wealth, massive influence, then you’re going to need to be a little more persistent than that, and see it from a bigger perspective – see that you’re nurturing a relationship.
To finish up that data: forty-four percent will quit after a first contact, another twenty-four percent after a second contact, another fourteen percent after a third, and another twelve percent after a fourth contact. That means that ninety-four percent of all salespeople – business owners, healers, coaches, executives, will quit after a fourth contact.
44% quit after a 1st contact
24% quit after a 2nd contact
14% quit after a 3rd contact
12% quit after a 4th contact
Just entertain for just a moment for me. What results do you think the other 6% have? It’s probably pretty clear, right? When you study high achievers and performers in any industry, any organization, they have an essence of persistence and grit…that stick-to-it-ness that they’re going to continue on to nurture and develop. See, when someone tells you no, in a sales proposition, proposal, presentation, just remind yourself that it isn’t no forever. It’s just no for today. Remind yourself of this concept and the power of this research. The majority of your sales, sixty percent, will come after a fourth interaction. What I love most about that knowledge and awareness, is you can turn off all the voices in your head around, “Aw, maybe they don’t like me, maybe I offended them, they’re not interested.” Those thoughts are sabotaging your success. With this new knowledge you can simply trust that it just needs more time.
Maybe what you’ve told yourself, or maybe team members or employees or sales reps of yours are telling themselves, is, “Oh, they’re simply not interested.” Show them this blog. Get them to know the facts and the knowledge. Because what I love about knowing that information is it helps me stay anchored that I’m here of purpose, I’m here to serve them. I’m here to build relationships. When you’re in the business of relationships, you’re in the business of service, adding value, nourishing your network – when you show up and play life and your business from that angle, you can write your ticket. You’ll have whatever it is that you want if you’re faithful and persistent to give it the time that it needs.
When you find yourself discouraged or not closing the sales , consider what needs a little more time. When you find yourself saying, “Gosh, I’m making contacts, but not closing sales,” the difference between contacts and contracts is one letter – the letter “R.” That one letter difference – “R” – just simply stands for relationship. So if you’re making contacts, you’re reaching out, emails, invitations, lunches, phone calls, connecting, but you’re not getting the contracts – all it tells you is you need a little more time on the relationship. A little more time to nurture, connect, ask more, ask to serve, be a resource, add that value. I guarantee if you will be faithful and persistent, that is the magic sauce in life in creating whatever you want. Persistence always trumps talent. Life and sales and results don’t always go to the most attractive, the most educated, or the person with the best upbringing. Success and life and results go to the most faithful, the most persistent, which is you, if you choose it to be. Persistence is a choice, right? Being consistent in following up, and being willing to say, “I’m in it for the big payout, I’m in it to nurture relationships, to a point and a place where that I have multiple business referrals.” This starts to come in because you live this on a regular basis. Remind yourself, remind your team members, that their success, your success, hinges upon these principles: Life is sales. Sales are simply relationship. People buy from those they know, like and trust. You need a little more time potentially if you’re not converting as many contracts from your contacts – you need a little more time on nourishing the relationship aspect to your business.
Thanks for taking the time to nurture your brain. Be faithful. Be persistent. Continue to add value and you also will meet with success.
Tiffany Peterson
by Tiffany | Jun 20, 2013 | Featured, Money, Sales, Strategy, Success, Time Management
Office Hours for the Entrepreneur
Watch the video here:
https://www.youtube.com/watch?v=hgQ7tMz3NRs
A few nuggets to look at for yourself:
- What are my office hours?
- When am I most productive?
- What activities have the biggest influence to sales & income?
Creating a thriving business while playing more is realistic when we have quality not quantity blocks of time to focus on our MVP’s (most valuable priorities) in business.
You can have both – fun & playfulness AND productive work hours (quality) that grow your sales and income.
Cheering you on!
Tiffany
by Tiffany | Feb 28, 2013 | Sales, Self Care, Success
Self Esteem = Success
“You will perform to your self esteem.”
BOOM.
It was nearly 12 years ago when I heard that phrase for the first time. I was a new sales rep in a training class and at the time I first heard that phrase, I thought it was a bit of “psychobabble” talk. I didn’t think too much of it until months later I was living out what my trainer was talking about.
I had ramped up pretty quickly selling coaching for Franklin Covey Coaching and what I used to make in a month, I was now making in a week!! Awesome, right? Yes, except for the fact that I wasn’t used to making that kind of money ….and because that was outside of my comfort zone as well as my identity, I started to struggle…and it started to show up in my sales. Not good.
I hired my first “life coach” and I was introduced for the first time that year to classic books like As a Man Thinketh and Think & Grow Rich. I began to become aware of the power of my thoughts and how I was a shaping my life’s experiences.
And I went to work on the one thing I have control over – Me.
Jim Rohn has said, “your net worth will likely never outperform your self worth.”
Now, you may also think this sounds a bit woo-woo, right? Yet, I’m here to tell you that in my own experience as well as every client I’ve ever coached, we have lived out this truth.
Your self esteem is like your set of fingerprints – they’re on everything you touch: your bank account, your relationships, your health, you name it. It has a direct influence to how we show up in life and the results we’re creating – or sabotaging.
The good news? You can build your confidence & self esteem like any other muscle to make it stronger and healthier in your life. You also can go to work on you, which in turn will go to work on your sales.
Consider this – do you treat yourself like a top priority in your life? Do you cheer yourself on or tear yourself down? Do you put everyone else first and yourself last, or not at all?
Quick Inventory: Where would you rate your current level of self esteem?
Now, ask yourself, what’s one thing I can do to improve it? Begin doing it immediately! Part of building great self esteem is trusting ourselves and taking action on what our heart or intuition guides us to do.
This topic is deep and broad and we could literally do a 3 day workshop just on self esteem together. To help you get started on a path to enhancing your self esteem and therefore your results, consider these few insights to support you:
1. Trust. Self confidence comes from having a deep sense of trust within ourselves. Do you trust yourself? If no, can you forgive yourself and commit to repairing trust within you? Stephen Covey teaches that the fastest way to build trust with ourselves and others is “to make and keep commitments”…whereas the opposite is also true. Every time we make and break commitments, we erode trust. Tighten up your word with yourself so you feel confident that you’re in integrity with the boss – you!
2. Self Care. Do you take time to exercise, get good sleep, pray or meditate – or any other activity that helps your physical and emotional well being? Do you make time for you? If not, begin with 15 minutes per day to start investing in you. This simple practice will add up to a big deal.
3. Date Yourself. (I loved typing that by the way!) What I call a “Joy List”, choose to do at least one thing a week that is just for you – a massage, a game of golf, hiking, baking your favorite treat – whatever brings you joy on any level, free to expensive, that brings you a sense of joy to your life. Ideally you do something daily or multiple times a week, but at least begin with one a week. You are responsible for your happiness – so go create it!
When our BEHAVIOR backs up the BELIEF that we’re valuable and deserving, amazing things happen. Affirmations without action are simply “make believe.” If your behavior doesn’t align with the belief that you’re fabulous, worthy, valuable, etc then you’ll struggle to really believe it and live it.
Coaching Assignment:
Create your own joy list whether on a note pad, your laptop, or smart phone – begin adding things to it as you go that bring you joy – and then do them! Begin this week with doing at least one thing for yourself that brings you joy.
Whether you start small or go big, make yourself and your self esteem a top priority in your life. You’ll not only feel better, but you’ll also attract better results to you.
Cheering you on!
Tiffany
