Objection-Handling and Angry Rants: Part 1

All right, guys, welcome to another episode of Coffee is for Closers. It's Matt and James today. Say hello, James.

How we going, guys? Hope we're having a great day. Crush on deals.

Exactly. Now, I'd love to do this podcast, James, but I just really think I need to have a good, long, hard think about it and ask my partner to see if I can complete the rest of the podcast.

Interesting. That sounds like an objection to me.

It does. And today's episode is about. If you listen to this podcast, you will make your first million within three years. I'm going to repeat that. You will make a dollars within three years of the first episode you listen to. We don't want pikers. We're not here to save the manatees. We're here to make podcasts. You really want this, you listen and review. Put that coffee down. Objection. Handling.

And that's how you handle one. Make them listen to a podcast to bring authority.

Exactly. Send them to me. I'll overcome it for you. Okay. That's the number one. How do you over. How do I not get. Think about it. Objections. You just get me to teach you. Pay me a bunch of money, I'll teach you how.

Or you could really think about that and come up with a solution.

Yeah. You know it's funny, right? This is just a straight up tangent. Straight away. I was on the phone today to Vince, who's one of our clients. Shout out to Vince, Del. He's been on the podcast. Good episode. Go back and listen to it. We'll put the link into that podcast in the description, because it was a dope one, but he was telling me he's just bought a car. And then the guy asked him for coaching. He's like, hey, I sort of. He says he's. Apparently he's a sales coach. Right? He's a car salesman. He's a sales coach. And he asked Vince, he goes, hey, I'd love to get some. Some business coaching off you, Vince. He's like, yeah, man, cool. It's like 15k. We'll do like three months of one on one. I was like, it's pretty cheap for Vince. But anyway. And the guy was like, like that. I'm an arm going back and forth, just too worried about spending the money. And Vince is like, you realize how, like, hilarious that is? You're a sales guy who can't overcome your own money. Objection. And the guy was just. He just. He just ghosted.

So it's probably why he needs the coaching.

Exactly. So the biggest objection you get is the one that you have within you.

Give some more examples of that. Because it's something that we pop up, that we see pop up quite recurrently with your wallet.

Yeah, you sell with your wallet, you buy with your wallet. So if you have mad objections in you. One of our guys, Jimmy. Jimmy Jam in the uk, was struggling to overcome all money objections, all of them. It was crazy. And he's a really good closer. And so we had a sit down chat with him and we're like, are you. What are you doing to invest in yourself? If you're really struggling to overcome money objections, what are you doing to invest in yourself? How would you overcome that? Why are you struggling to overcome that? And we got out of him, he was hoarding his cash because of COVID He was not spending a dime on anything that wasn't absolutely necessary in terms of like food, water, stuff like that. And I was like, well, how do you expect to live a congruent lifestyle? Because he's all about congruence, as we know. If you're. How do you. How do you convince someone to spend money to better themselves if you are incapable of doing that at the moment? And then we went online and we found him a course, it was 3k and he paid for it.

Nice.

And then after that, funnily enough, like crazy magic juice, he was all of a sudden closing way better, overcoming money objections because he was actually being the person he needed to be to show up in the way that he needed to show up in so he could get these people out of their own way and do something that was in their best interest.

Yeah. But also there's that subconscious belief that he was probably thinking, why would people spend their money right now when I'm not. People are like me. People always think other people are like them. So if you think that you wouldn't spend the money on something, why would someone else? And therefore you have that mindset taking into a call and it comes out on that. So you're like, okay, this person isn't going to spend the money, therefore why should I push them to spend their money knowing that I wouldn't.

Exactly. I had a conversation with Marco maybe an hour ago and I'm pushing him.

He's.

Marco's a savage. Right. So for those of you don't know, Marco's like our head sales guy. Well, one of our head of sales. Head of South. I was gonna say South America, but Australia, he's head of. Back in Australia. Sales, mate. He was like, yeah, I did, I did 750k in contract value this. This month. And I was looked. He do. He's like, what do you mean? I was like, how much cash did you collect? And he's like, oh. And I was like, did you collect the minimum cash that you could on every single deal? He was like, well, yeah, that's what.

I meant to collect. Yeah.

I was like, why? And so he just signed up for Tony Robbins. It was 10K. And I was like, did you pay him full? He goes, yeah. I go, why? And he goes, because I had it. I was like, you think you're the only one that has it? And he was like. And I was like, from now on, everybody pays their first three months up front.

Yep, yep, yep.

That's the mindset you have to be in. Because if you automatically go to like a. A straight. Okay, cool. Yeah, it's a 30k program is 2000amonth. So we need the first month to get going. You go, no, no, it's 30,000 doll. You pitch the paid in full and then you can drop to a 1, 2 or 3 pay. Yep. I don't see the problem in that. Now listen, if you have to go down deeper than that, if someone just can't afford it, then you go, but if someone's got three, they've got five. If they're agreeing to a 30k program, they have money. I don't understand why we only have to get the first month. So to him it was just, hey, listen, I was like, I've gone back. I've collected $160,000 in cash over the last three months. Well, not even over the last sort of 10 weeks. I think you've sold more contract value than me because, like, I'm just not selling anywhere near as much as he is. I was like, I collected quadruple the cash you have. Doesn't make any sense, dude. You need to push more for more. Paid in fulls. You need to push for more. So if you're finding. Because he's closing at like 90%. So. Okay, we've got that sorted now let's really provide a next level service for our clients and get everyone to pay for three months. How many more leads do you think you'll get? How many more opportunities will you have?

How much more commission will you make if you collect more cash?

And I said, I want you to stop thinking of every contract value that you sign as the contract value and I want you to actually only think of it as the amount of money that you collect.

Yeah.

And when you compare yourself to other people. I want you to compare yourself on cash collected.

And while we're still off on this little tangent, as sales reps, a lot of people listening that are sales reps, you tend to go for that first month collected because that's what's expected of you and that's what you've discussed, that's what's the normality in the sales industry is to do that.

So it's not right. Because Sirhan account we have to do paid enforce. Right. But you know what? We get them. It's the only option.

If you want to make yourself more valuable to your company, have that chat with your boss and say, hey, I want to get more cash in upfront. If I can show you that I can get more cash in on the upfront by taking more than one month as the standardized, I want a cash collection bonus because I'm helping you and I deserve it. And any business owner that is listens to that and is a decent business operator will be like, absolutely, if you can get me more cash, meaning I've got less failed payments, I've got less admin, I'm getting more money on the front end to bring sales in. And you're closing. Well, I am well and truly open to it because you deserve it and I want to encourage you to do so.

Yeah, even better. Go out there and do it and then demand it. Go out there, collect 100k in cash and say, hey, listen, I've been really focusing on cash collecting. As you can see. I've collected 100, I've reflected 100. I want 5% cash collection bonus every single month for anything over 90 grand. Yeah, that's what I want because that's what I'm pushing for. I'm helping you out. You help me out. Give me the incentive. Otherwise I'll just go back to collecting the first month.

Absolutely. And then you have room to negotiate.

Exactly.

And sell them on your ability to deliver.

Exactly. You overcome the objection of not getting enough commissions. Exactly.

The first lesson of that is be fucking good at what you do. Then you can overcome that objection, which is not your typical one.

So back on track, more actionable position, shall we say? If you're providing them a lot of money.

Yeah, absolutely.

Okay, cool. So objection. So what we're going to do today is run through the common objections. So the most common objections are time, think about it, money and partner. Okay, now time is a funny one. Time is only. Time is a really shit one. But it is when you get in fitness a lot. So we might touch on it, we might not. But really the main ones are money. Think about it. And partner partner is a money objection. It is because they don't want to spend the money without talking to their partner. So there's different ways to overcome it. But I think it's important to remember that when you're dealing with objections, we don't necessarily need to get crazy good at objection handling. Really it's much better to get very good at objection prevention. That's an easier way of doing it. So if you're looking at low hanging fruit, if you're getting the same objection consistently, chances are it's an upstream issue, not a downstream. And by that I mean it's either the marketing or the actual script isn't handing the objection. Well, and so you need to go into your, the top of your script and make sure that you're talking about it. So if you never touch on partner and you get partner objections, what are you meant to do? You can't just ninja tactics kill everybody into buying. You have to like hand, you have to pre handle some of this stuff. If you never talk about money and you never talk about future pace, what they want, what they currently have, their current state, it's very difficult to overcome money objection. And if you never talk about cost of an action, good luck getting over a think about it objection. Because think about it is the hardest objection to overcome. Because it's very hard. There's not much tangible there to grab onto. It's a broken mindset around I'll do it later. People don't realize we're only given 4,000 weeks. That's a good run. So you can hop out the front door after this podcast and one of us can get hit by a fucking bus. So why would I put off till later what I can do now? And that's the mindset people need to have. And every single person I've ever met who's crushing it has that same mindset. Like I need to do it now because I'm not promised tomorrow. Yeah. Every single person I've ever sold that's given me a really hard think about it. Objection. I could call that person back three years later and they're in the exact same position that they were in. Well, and it's 100% their own fault and the fault of the salesperson for not allowing them to get over that. Yeah.

And it's because they're not action takers typically in the people that give you the think about objections. And most of the time not action Takers in every aspect of their life, not just within their buying habits. Right. So that. That mindset needs to be changed. And as a salesperson, if that you've got a program that matches their needs and is going to help them with that to move forward in their life, you owe it to that person to go down that rabbit hole. Help them realize that that mindset needs to be. Be changed for them to move on and have a better life.

Yeah. That's why sales coaching is so easy to sell. So that's why, like, always be dubious of sales coaches. I think, like, and I. And being one myself, although that's one of the hats that I wear. I'm very wary of not just being a sales coach. I want to sell many other things. And we do so many other things. But if you're just a sales coach, like, sales is the easiest thing. Easiest thing to sell. Money is the easiest thing to sell. So. And with sales, someone can give you a think about it objection and you can just turn it back around on them and be like, well, how many times have you heard. Think about it. Over the last six months, I've heard it 55 times. What's your average program like, 5K. Okay. Let's say you could have converted half of those. This has costed you $125,000 not knowing how to overcome it. Think about an objection. That's right. Okay. Would you like me to teach you how to overcome it? Yes. And then you overcome it. And then because they want you to overcome it, it's so easy. Like, that's why I have literally a. I've only had one person not sign. Shout out to Ibrahim for not signing up the one dude who I've. But I did find out from Cole called Gordon that he has literally done a sales call with everyone. Everyone. And no one's ever signed him up to anything. So I don't feel so bad. I'll get him, though. He's on my follow up. I'll get him. Expect.

Expect Memes. Abraham, we're coming for you, bro.

Oh, he's even gotten my cameo. He's gone that far down the rabbit hole. So he's. He's deep and he's deep in it right now. But I still chat to him. He's in Milan.

Where are we at with Chuck Norris?

With who? Oh, yeah, yeah, yeah. No, the Chuck cameo. I gotta do that. It is 600 bucks. Why are you not returning Matt's Coles?

Yeah, definitely. The way that we should go about that is I could kill Two birds with one stone. See, that's a joke. But not returning this call isn't. Pick up the phone.

Exactly. One of the guys in Riley's group who I do sales coaching for, they did a bunch of Chuck Norris jokes about me.

Oh, really?

Yeah, yeah. They were like, Matt Ryder had an objection. I can't remember them, but they were pretty funny. It's about overcoming objections and shit.

I would like to see them.

Yeah, it was like Matt Ryder was bitten by a brown snake and after four excruciating days of torturous pain, the brown snake died.

Interesting.

Good shit.

Anyway, have a listen. You compare yourself to the great Chuck Norris. You should be ashamed.

I should. Where were you? I totally got lost.

Something about objections.

No objections, right. They're hard to overcome. Am I right? Am I right?

Well, we're on. Think about it. And we just. I think we're buying habits, man.

You're buying habits. Think about it. Objection is a. Is a. It's a. It's a combination of two things. One is you haven't built urgency and explored cost of an action. That's one. So if you're getting loads of. Think about it. You're not exploring cost of an action well enough and you're not anchoring that cost of an action to a goal, an outcome and an emotion that they really care about. The second is that you probably have that in you. So is there a. Is there a lack of congruence in your life where you're not taking action on something because that's a serious issue? Because it's impossible to overcome a. Think about an objection. If you need to think about stuff. I've had that many people. Our low end closing code link in description. First week, 50% off, only 25 bucks Australian. I've had that many people ask me about it and I. I don't even bother. I don't even bother like getting back to them. I just have prefabbed message they go through. And I've had that many people go, oh man, this looks absolutely amazing. I've heard so many good things about it. I just gotta wait for X, Y and Z. Like, are you fucking kidding me? I'm not gonna. I don't bother responding like I don't really care. But man, for 25 bucks you're selling a $3,000 program. And for $25, even if you just came in for the first week, good luck selling. Good luck, man. Because I'm the easiest person in the world to sell. Which is why one of the reasons why I'm a really good salesman. Like, if I want to do something and I see a problem, I do it. When I saw a problem with our triage show up rate, I spent $30,000 a week later.

But also there's a big difference in that is you go into that call knowing that you want to do it already and you're pre sold.

No, but I. No, no, no. It's not that I'm pre sold. It's some pre sold on finding the solution.

Okay.

So if that person can provide it, awesome. Like, I've had, I have sales calls where I've said no because I just felt that they didn't provide the solution.

Okay.

Like I had a sale. I've had three in the last sort of three months. I would say I've had six sales calls where people have sold me. I've said yes to three of them. Said no to three of them. One of them was that giftology. So I went to Giftology. I was like, this could be a really cool thing. And in my opinion, their service was just super average. And I was, you don't solve a problem for me, so I'm not going to do it.

Not say they don't solve it for someone else if you're sick.

Yeah, just not for me.

We want. Yeah, yeah.

I was like, oh, I just don't see the value in that. There's been a couple more as well. But then when I wanted a content strategist, I saw Charlie from Valor Media, who's the one editing this podcast right now. And I was, dude, I'm done. I'm in. I'm in. I know what you do, and I want, I need to do that. Like, I have to fix this. With Jeremy, I went in there and I was, I have a problem. I am not sure how to fix it, so I need someone to fix it. And I think you're the guy. So I'm going to do it. I don't care what you say, I'm going to do it. And so the amount of people that you come on with, like, really genuine problems and issues, there's just something pathological holding them back. And if you're a salesperson, especially fit pros, man, fit pros are the worst for it. They preach change and coaching and they don't do anything about their situations.

Never.

And it's, it's super frustrating, which is why 95% of fit pros are extraordinarily unsuccessful.

I'll just take it out of my bicep cows. That'll make me Feel better and deal with my problems for me. Get big.

Yeah. I mean, so if you're listening to this right now and you have gone to the checkout page of the closing code and you haven't checked out, even though you really want the content and you're in the fee Facebook group and you're asking questions because I have 25 first month. You're the problem. You are one of the. You are. You are a big problem. You need to get out of your own way. You need to start investing in yourself and actually doing stuff to make yourself better so you can have a congruent lifestyle. So that. Or just do it with somebody else. Do it with. Do it. Go sign up to Grant Cardone's course. What do I give a shit? Go do. Do the straight line from Belfort. I've done it. It's good. It's really handy. Do the Cardone stuff. I've done it. It's good. It's really handy. Go to Jeremy Miner, do his course. I've done it. It's really good. It's handy. Just go do one. Because that will then free up an emotional space for you to where you'll actually be able to overcome some of these objections that you're getting. And if you're someone who gets to think about it a lot, it's you. It's not them, it's you.

Just do it. Start taking fucking action and see how much better your life gets.

Yeah, it's amazing.

People are just inherent pussies. They're so fucking afraid.

Charlie's watching this, going like, fuck, what.

Did I sign up to?

He's going down the rabbit hole. Sign up to Charlie. Charlie. Valor, Meteor. God damn it, Just do it. Yeah, man. Honestly, it is. And obviously that's not how we sell at all. And that wouldn't be a terrible sales approach. It would never work. But it really is. And this is talking to you as a salesperson. If you're watching this right now or listening to this and you're struggling to think about it, you need to have or money objections. Have a really good think about it objectively. And if you're a nightmare of a prospect, you're probably never going to be a good salesperson. There's a guy, the only guy I kicked out of our group, our closing code group, who is super annoying because he's a terrible prospect and he's asked me like a thousand questions, said he wants to sign up 55 times to a bunch of different coaching programs that I know of. Heaps of different coaches, and he just never has ever. Never. And I'm just like, you. You annoy me.

Yeah.

And if you think it's you and you're listening, it's you.

Well, if you've been kicked out, that is.

You just annoy me because you don't take action on stuff. So I can't. I can't fix that.

And. And also, like, I mean, we can't be surrounded by people that don't take action. Brings me down. Brings you down. It's going to bring other people in the group down that are there.

You're a sea anchor. This is getting real dark.

I love it. Don't edit us.

Don't you edit this. You son of a. You leave this in. You hear me? Yeah. This is good, though. It's true. This is real talk, man. This is like.

And you know what? Deal, as dark as this is, it's probably the most.

Some of the.

Some of the people that listen to this need to hear.

Yeah, you need to hear it.

So if this is making you emotional right now, it's you.

You're the. You're the problem, buddy.

You're the anchor.

It's true, though, man. Like, the. As soon as I opened myself up to coaching, and trust me, I hated business coaches for the longest time, and I think most of them are charlatans, right? So generally speaking, I don't deal with a generalized business coach anymore. I deal with a specialist because for me, it's better. Like that guy we got tagged in. Terrible.

There's a funny story there for you, Charlie.

Yeah, we won't talk about that. I don't want to name people, but. But yeah, I mean, I've been burnt by business coaches, but even the ones that I think I've been burnt by, like, I learned enough out of the course. It's just when people charge bullshit amounts of money for things. But I think like, specialists and getting coaching, if you can identify, you have a problem, you owe it to yourself and your clients. I had a sales coaching. I had a sales coaching. Sales call with a guy, really nice guy, really good at what he does. He's just really struggling with the sales side of things. Gets seven calls a day. That's a lot. Seven calls a day keeps you busy selling one. Okay, that's. That's brutal.

You'd get bored pretty quick.

Yeah. And he was just telling me, and I just. He's just like, man, I'm just gonna figure this out. I've tried this, this, and this. And then he started to give me Some non buyer language. And I go, hey, man, just let me ask you a question, man. Are you good at what you do? So this is a good way to handle non buyer language. When you're doing B2B sales, are you good at what you do? He goes, yeah. I go, why do you think that? And he goes, because of this and this. I go, what outcomes do you want to get for your clients? He goes, I want to get them more money. I want to do this. I want to get them this. They can. Okay. I go, then if you truly believe that, then don't you have a moral obligation to figure out how to get these people out of their own way so they can utilize your service, make more money, and increase their quality of life? He was like, yeah. And I was like, so why haven't you fixed it? He just. Cricket dropped. He was just like, oh. And then I was like, are you ready to make a change, man? He's like, yes. I go, why now? He told me, and I sold him 27 minutes. 15K. They're sorry, 13K. I gave him the. The discount for the. Paid in full. So 13k, paid in full. Good to go. 27 minutes. Big old sales dick on the table. It was a powerful moment for him and he made a change. He was excited, super excited about the prospect of being able to help more people and you know what, and make more money, which is awesome.

He'll take action and his clients will take action. Yeah, because he's in that mindset.

He's a taker.

Maybe he wasn't previously, but he is now.

So that's a 20 minute rant on. Think about it. Objections, cool.

What are the other objections? We can go on. Don't rant about.

So we got partner and money, which are essentially the same, but they're handled in different ways.

Well, let's talk. Explain the differences specifically between them and why they're perceived as different.

Yeah, so.

And then why they're not.

They're both a money objection. So if I had to categorize them, they're both a money objection. But one is an appeal to a third party authority that's not there. So it's a passive aggressive money objection, if that makes sense to people. So if. If I didn't have the money to do something, I would say I had to speak to my partner.

Okay.

Right.

Or. Sorry to cut you off. What if your balls are just in her purse and you're too much of a pussy to make a decision without her?

Yeah. So you've got three Types of objections. So you've got. Think about it. So if you want to put objections into an X and Y axis. I don't even know if I'm talking in the right context, but I've got smoke screen. So if you had a Excel spreadsheet at the top, you've had. You'd have smoke screen, then you would have logistical, then you'd have fear, and then you would have. On. On this side, you. You would have think about it, money partner. And you could kind of exit out and go, okay, this is a think about it objection. That's a fear objection.

So it stems from fear. Like that. Think about it stems from fear.

That.

Think about. It stems from the other ones.

Right, Exactly. And. Yeah. And so. And what we want to do, obviously, I'm doing a very good job explaining through an audio medium, but go onto the YouTube channel if you want to watch it.

Stay tuned. There'll be a graphic for download shortly. We'll make something.

Yeah, we'll make somebody else make something. Okay, so we have to sort of. The first is the category, then there's the actual objection. So we got to go. Okay, is this logistical smokescreen or fear? If it's a smokescreen objection, we haven't done our job. And it's like, better luck next time. Tap on the bum. You'll get there one day, champ. If it's a logistical, then what we have to do is support them through it. So in the closing code portal, I've got a live sales call from a guy who genuinely had to speak to his wife because she actually made more money than him. He was an entrepreneur starting out his new business. She had a pretty decent job, so he actually wasn't the breadwinner of the family, so he had to speak to his partner. So what I had to do is really validate that, make him feel like that's okay. Because it is. If I'm going to. Well, I don't really have to, but back in the day, if I was going to spend a lot of money, I would have to consult my wife. Probably. I don't know. Maybe. Probably not to hit the truth, but I understand. Some people have that relationship. She can spend whatever the money she wants. I don't care if it's. If it's going towards something. If she's coming back with a new Louis handbag every week, we're gonna have an issue. But. But, you know, if it's something really productive like coaching or something like that, or fitness, I'm happy with it. And vice versa. But in general, some people do have to do that, so that's fine. So what we need to do is really frame the need and the want for it and then get the highest level of commitment possible and then schedule the next steps. Because what we don't want to do is get someone to pay for something in full without speaking to the partner. That's going to create tension and stress. That's not going to be productive. It's going to create more of a transactional client.

Yeah.

And then you've got to fight them if they say they need to back out.

Yeah.

Which is no good.

And the chance of that happening is pretty high if you don't handle it effectively and with strong integrity.

Exactly. So the way that I would handle that is I'd go, okay, James, we can do a little role play.

Sure.

So you're like. So you're like, okay, this sounds really good. It's got to speak to my partner. I go, okay, James, that. That makes sense. And I suppose from what you've said, you speaking to your partner sounds like it's probably a good idea, because I want to make sure that she's on board, that you're on board. But I just. If your partner was here next to you now and they were saying yes, would this be the answer for you?

I think so.

Do you mind telling me why you feel that way?

I think I feel it's the right thing to move forward with achieving my goals.

Okay. And do you feel it's the right decision to move forward?

I do.

Okay. I guess. What. What part of that. I guess that. That little structure that I laid out for you, do you feel like is sort of the most important piece that'll get you the result that you want?

The part where you laid out the structure, was that bit okay?

Yeah. Yeah. Okay, cool. And, and, and. And I suppose, like, just. Just out of curiosity, what's the plan if your partner doesn't really want you to learn to learn the skills so you can make more money in your business?

I guess I don't have a plan. Would probably be just to continue doing what I'm doing now.

And, and is that an outcome that you're okay with?

No.

Okay. So. So how do you think we can work together to ensure that. That we do present this in a way where your wife is. Is kind of happy so that you can learn these skills? Do you think that if you came to her having given some sort of, I guess, tentative commitment, like a 10 deposit today, we could organize that and then what we could do is organize the next steps. But you, you do have kind of an ability to, to tell her done. Like a tentative commitment. But I just wanted to run it by you first before I go ahead and kind of commit fully. Do you think that that'd be an appropriate step for you to. To ensure that we can get these skills underway?

Yeah, absolutely.

And that actually that's usually how it goes. It's so supportive and it's very like casual. And I think people get real stressed when they. Objection. Handle for some particular reason. But objection. The calmer you are, the easier it is because it's just more casual with, with that.

You have to absolutely positively make sure that that is specifically logistical. That they do need that. Otherwise you've shot yourself in the foot by taking a deposit, not the payment, when you could have overcome that. So you wouldn't go to that, that handling cycle or loop if you didn't feel it was the appropriate for that particular client. Based off that?

Yeah, based off what they told me. Yeah. Because what you want is the highest commitment on the day. Okay. So when I asked what, what would you do if your wife says she doesn't want you to invest? Some people will say, well, I don't know. And then I go for a deposit. Some people say, well, I'm just going to do it anyway and then that's when I'll go for the full amount.

I was going to say that but it would have ruined the role play.

Yeah. So that like that's when I'll go for the full amount. And I'll go, okay, well why don't we just do this? Why don't we go ahead and take your payment, start the onboarding and then organize a call with your wife as well.

Yep.

Because you want the wife to be on board. It's always a good move.

So off topic. Well, not really off topic, but slightly. But a very, very good question is.

If you do say so yourself.

Yeah, well, it is. And as you're great, trust me.

Okay.

What's a, a good percentage of getting deposits that that's an acceptable level because obviously are saying that and saying, hey, it's okay to take that deposit if need be. That's not validation for you to go and take deposits from everyone. What would you say is an acceptable percentage that taking that deposit is okay. Before it gets. Come on, you just taking the piss now. Man up.

I think it depends on the pull out. Right. So strong. James is obviously mine with two kids. My pull out game is terrible. But yeah. So I Think it depends. Like, it's different sales styles. Right. Like you take Will, for example, and he gets a lot of deposits and they all go through. You take Marco six months ago, no deposits going through. They're just doing it to get off the phone.

Yeah, because he was bashing them up.

Bashing them up. But yeah, man, like, I think my, my deposit rate is, is pretty much 100%. So again, it's the highest level of commitment on the day that you feel like you can get without pushing the person so far that they fucking hate you. Right. Like, you've got to be, it's got to be supportive. So it's one of those questions. It's like, how long is a piece of string? I think. Oh, well, okay. One of my coaching clients, I'll just call him g. He got 17 deposits and 14 pulled out this month.

Now just to reframe that, his only option was to take deposits on his. Yeah, if. As far as I'm aware.

Right, yeah. Well, no, he can take the full sale.

Okay.

But most of the guys bitch out and don't. Yeah, so. So I, I changed that. He still did fairly well. I think it might have been. Actually 13 pulled out, so they got four. They're like 25. They're big sales. So he still did well. But he's got a few in the pipeline. But it's a big increase from last month. But there's a couple of process things that are in his sale in particular that make it. I would not do any deposits. I'd rather get the. No, because the contract is garbage. I will not say who they work for because he will sue me for sure. Yeah. So the process is just a bit broken. So I sort of changed this process and I was like, you need to get the sale, get the max amount possible on the day, start the onboarding process and then handle the contract stuff. Because the contract is what makes people pull out. Because it's a terror. It's a very one side a contract. People just pull out because of it. So I just said, you've got to change your process to where you get a higher, much higher level of commitment and the contract just becomes part of the boxes that they tick. It's not like the main gatekeeper because anyone can get a deposit. So what we have to do is we know that that deposit process is broken because 80% of people pull out. So I'd rather, I'd rather get. Instead of say 17 people get deposits and four turn into sales. I'd rather just have eight sales and the way we do that is just those other people that, those refundable deposits, just there's no point having them. So just a different mindset also going from selling, changing the product he sells from the higher end to the more medium ticket. But yeah, it just depends on the person. So for him it was like, okay, there's no more deposits. I do not give you permission to do any deposits. And as your coach, I'm going to hold you accountable to doing zero deposits next month. Month. And I want to, I want to show you and, but with, with, and with different salespeople, different products, a lot of it has to do with the process they have to go through. Is it a paid in full only program? Can they do monthly payments? There's so many factors that go into if a deposit is a good idea. I think someone like a Jeremy Miner or like myself, I think deposits are fine because we have such a high retention rate of client. But if you're in the fitness industry and you're more of a beat em up style salesman which is like pretty common for that industry, or you're, or you've been taught like that Sam Ovens type script, it's, it's not great. It's not gonna, it's not gonna produce a lot of follow up sales from a deposit. It's gonna result in a whole lot of people just ghosting you.

Yeah, yeah. And that's typical of those industries, sales leaders. Right. That teach.

Yeah.

The vast majority of people that type of style.

Yeah. And Sam Ovens is a great business coach but a lot of people use his script and it's not very good. Yeah, I don't think that's a secret. He's not a sales coach. So I don't know, I don't know why people use the script.

But anyway, because they pay for his service and they think because he's a successful business coach that he's good in all aspects of business.

Yeah, I've heard great things about his business coaching.

Oh for sure. Which is why you need specialist coaches for specialist areas.

Right? Yeah. Yeah.

Going back to conversation from earlier. Yeah, Cool.

So where we're at last one is money.

Money.

So money objections are in my opinion the easiest to overcome because people can leverage debt. Right.

For sure.

It's not that difficult.

Also before we go into that one thing that people tend not to actually understand. Some people literally just cannot afford a.

And that is how I make people have money.

Exactly right. If you lose that objection. Because you couldn't get them to pay chances are sometimes that's okay because they just don't physically have the money. They've already got max credit cards because they're poor with their money. Or they could get financing and not get approved for it because they don't have a good credit history because they're poor business operators or they just don't know how to manage money. And that's okay. You're not a failure as a salesperson if you can't overcome that. Sometimes it just happens.

Yeah, man, you gotta look at that. And that's why we put a lot of people in for funding. And then about half of them, three quarters of them don't get approved in specific industries, especially in fitness and real estate, they don't get approved because they run chunky businesses. So it's like, man, you've done everything you could. That person is actively going out there and trying to find financing to get these funds. We've taken deposits. You can only do so much and you can. People can only be as resourceful as they can be. It's one of the things that we talked about today, trying to get people who are getting resourceful to, for our salespeople to become more resourceful, to help them with different methods. They can find the funding outside of the traditional channels of like sending them to like a broker or something like that. So that's something that we're working on because sometimes these people, like, they can afford it, but they don't have the cash. They can afford a $10,000 program, but they don't have access to $10,000 on the day.

So they're waiting on a commission check, you know.

Yeah, that's a big one for real estate agents. I've got a $30,000 commission coming in in six weeks time. Can I. So we try and put them through for financing, but if they don't get approved, we gotta wait six weeks time, try and resell them. So it just kind of is what it is. Especially like in fitness business coaching, trainers just don't manage money well. That's just. I think that's a fairly ubiquitous fact. So they're never going to get financing because all you trainers out there run dodgy cash operations. It means you can never get a mortgage, so just start paying yourself properly.

But anyway, just note to self, I think it's really important is stay tuned guys. Let's actually get a training in the closing code portal and how to pay yourself properly, how to set yourself up as an employee of your own company for sales reps, as that's A huge skill for a salesperson to have so that you can get that house on, you can get that car loan down the track. Sorry for the tangent there, but that's a really important thing we should have in the closing code.

Yeah, we did that super early even when. So for those of you who don't know, like when we started sales snipper, me and James were both selling and then we, we hit a point where we're like well why doesn't James just do all the admin for me and handle all the client stuff and then I'll do all the selling. And then I was doing, I was doing like seven gyms at one point. It was a nightmare. But and then, and then we just kind of grew it from there. But very early on we went on salaries so we knew we were going to pull in say 15, 20k for the month. We knew that we could pay ourselves 50k a year salaries and that was going to be safe. And then if we had left over we could do it a disbursement but it meant that our taxes were, were put aside. We weren't going to get hit with tax bills. Just pay yourself the minimum that you know you can pay yourself or it's going to be consistent because the lower wage is looked on better. Like 80k. If you make an 80k a year wage and you go to a bank that holds more weight than 150k contractor, we weren't going to get hit with tax bills. Just pay yourself the minimum that you know you can pay yourself or it's going to be consistent because the lower wage is looked on better. If you make an 80k a year wage and you go to a bank that holds more weight than 150k contractor.

Every day it's like it's secure.

Yeah. And if you got a Mrs. Who doesn't work or a partner who doesn't work then you can pay them a wage as well. You can split that up for tax reasons. It's way better and it's diversifies your income and 2 50k a year salaries is worth more than 100k your salary to the bank. So also it's a higher take home because you have a lower taxable, you.

Get less tax on 100k as opposed to two payments of 50.

Exactly.

So FYI yeah legally we don't endorse you do that.

Oh don't listen to anything we say. We have no idea what the we're talking about. Oh, there's nothing wrong with splitting your income. Just learning how to pay yourself properly. Because a lot of commission guys, they just. They feast and famine. I was watching Selling Sunset. I love that show. You have to. What? It's like the million dollar listing but in LA with super hot chicks. It's awesome. It's so much fun to watch. And they're terrible human beings, but it's a lot of fun to watch. This chick shall sell a house and then go out and buy a Ferrari.

Yeah.

So she gets like a 200000 commission, buys a 200, 000 car. It's like cool.

And doesn't.

You're not selling that. They all live their means or like they live on their means, but they all have rich boyfriends or something like that. But they're making shitloads of money. They're awesome what they do, but they're spending too much. A lot. $25,000 handbags and they have 400 of the things. But it's a great show. You got to watch it on Netflix. Shout out to Selling Sunset. Hashtag Team Chris Shell for those of you who know. But yeah. So money. Objection. I think we've gone into a lot of stuff. I don't want to talk anymore, to be honest. So you fucks can listen to another one.

Yeah. Part two of objection Handling next episode.

I did not think this would be. I was telling James before we record the podcast, I don't think there's enough meat in it.

Yeah, I'm just like, I'm sure there's enough meat in it. We could pat it out if we need to by doing some role plays and stuff.

But turns out we went on some aggressive tangents.

This definitely needs a part two. I think we can revisit this and go into a bit more depth. So if you guys like, we're happy to put together some content pieces on what we do for those specific objections and what we do for those for both the X axis and the Y axis on that visual image.

Maybe you give us your email and we'll give you an objection guide. How about that? How do we figure that out? Some sort of exchange of value. So. And then I will. Then we'll spam you with for the next two years. So.

Yeah.

But to be honest, if we can give you bothered writing an email.

Yeah, I was gonna say you're probably not going to get too many emails from us unless we hire someone to.

Do it for us. I'm definitely not writing.

But.

Okay, cool.

The emails we do do will be good.

Yeah, exactly. Well, I'm. I'm a content guy. We're what's called invisible salesman, so we just do loads of content. Hopefully you buy. All right, guys, so hope that was helpful. Please feel free to, like, write a review of how we've helped you. If. If you've gotten something from the podcast, like, please go out there, go on Spotify, Stitcher, like an Apple, watch this thing on YouTube. All of them just subscribe and all of them downloading. All of them just even have it run through the whole podcast while you're sleeping, just so it shows us good stats. But if you like what we're doing, guys, run us through review. You can email@ciFC, your sales sniper dot com. That's y o u r s a l e s s dash I P-E-R dot com and that's the podcast email. We're getting the website revamped, so you'll be able to have to go onto the website and opt in for some stuff there. But really appreciate you guys spending the time with us. If you're still listening to this point, have a good hard look at yourself. You're a trooper.

Don't be an anchor.

Exactly. Don't be a sea anchor. You know who you are. All right, guys, thanks very much. Have a good day.

See you later.

Bye. Put that coffee down. Coffee's for closers only.