MBA2193 Must Read: Exactly How to Sell by Phil M. Jones

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P.com podcast today's must read exactly how to Sell by Phil M. Jones clearly lays out how to improve your sales system. How to create one in the first place, but also how to increase your chances of closing more sales. And it all starts with chapter one, which talks about prospecting. Prospecting is making sure that the people that you talk to, that you're trying to sell to, are a good fit for your products or services. These are what are also called your leads. Whether you're growing your leads via growing your email list or somebody supplying you these leads from a vendor that you would then close in a sales conversation. I'm going to quickly give you some highlights from what's important when it comes to generating this list of leads, these prospects. And it starts with imagining and describing your dream customer. Who do you actually want to serve? Who's going to be headache free, who really is meant for your product or service, and once presented your product and service would say this is a no brainer, this is definitely something I need. Then he goes a little bit deeper and says, well you got a list. What do these people look like? What are the attributes of these types of customers and why are they perfect to you? Where are they Located geographically? What are some of their demographics? What industry are they in? What sector in that industry are they in? How big are they? Are they enterprise business? A small business? How long have they been in business? Who exactly within that company are you trying to help? Is it the sales manager? Is it the CEO? Him or herself? Why do they even need your help in the first place? These are just some of the questions that Phil M. Jones asks you to ask yourself as you're creating your perfect lead, your perfect ideal customer to create what he calls a prospect list. And he gives different strategies and methods to create this list. Now, I love this book, but maybe there's some things in this book that you won't agree with. There are a few that I didn't, but it doesn't make this book trash and actually got me thinking. And it's okay to disagree with some things in a book. One in particular was talking about five physical things about you that can create a good impression and help you close sales. Some of them were just dead on, right? Your marketing materials, how you physically present yourself, you know, what you wear. And looking professional. He's looking neat. And obviously this depends on the market you're in, your grooming. But some things, like your vehicle, like the car you drive, actually can help you close more sales. Not so sure about that if that still applies in today's day of Ubers, but maybe in some markets this actually matters. Still, there's a chapter in this book that actually is really powerful and it talks about how to set your hourly rate if you have a service based business or even if you have a product based business, because the amount of hours you work need to equal how much money you make at some point. Even if you have a product, you want to make sure that you make enough money to make it worth your while. So he talks about calculating how much money you want to earn in the next 12 months. How many hours you want to personally work every single week, how many weeks out of the year do you want to work? And then working backwards with an equation. My favorite chapter in this book is all about how to set your own KPIs to get more sales. This basically tells you what are the things you need to do to get more customers to get more sales? Meaning let's work backwards. How many leads do I need to gather and attain every single month? How many emails or calls or webinars I gotta do to be able to make more sales? How many people have to attend those calls or webinars or workshops to make those sales how long are these webinars? How long are these presentations? How long are these phone calls? What are the marketing activities I'm going to have to do to get the leads? That will then result in calls or workshops or webinars? What's the average transaction value? How much money is each customer on average going to spend with me so I can make sure I hit my goal for the year of how much money I want to make? How many transactions do I need at that value? This is really important because it breaks things down at a granular level. This allows you to really hone in on what will make you successful. What are things you need to do, at what level, at what number? How many of each so that you can hit your goals, hence your own personal KPIs. In this book, he also helps you with some icebreakers. How do you have a sales conversation that's comfortable, whether it's one on one, whether it's on a video call or even on a webinar? I Speakers are like questions that get people talking. Like, what brought you in here today, right? What prompted you to sign up for this webinar or to schedule a call with me? What are you hoping to get out of this event, out of this call? Out of this webinar? Personally, I start all my webinars by asking the crowd, what would be a win for you today? Which is a very similar question to what you're trying to get out of this event? Phil also goes into how to harness social media and strategies when it comes to different platforms. But one of my favorite parts of the book are his closing techniques, especially his three stage questioning technique. Hey Fidelity, how can I remember to invest every month?

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Investing involves risk, including risk of loss Fidelity Brokerage Services LLC Member NYSE SIPC Questioning Technique when closing sales, here are the three questions. When you present to them your product or service, ask them, what's your plan? What are you going to do with everything I just showed you? How do you feel after everything I showed you? And then lastly, what are the consequences? What are the consequences if you don't take action? If you don't take the offer? If you don't work with me? I always say at the very best, if you don't work with me or buy my products or services, you'll Continue to get the same results you're getting now and if you're not really satisfied with your results, then continue to do the same thing. Is going to just guarantee that. Guarantee you're going to get the same results if you just keep doing the same things. But if you want to get different results, you need to take different action and start working with me or take my program or buy my product. He also talks about closing with risk reversals. Things like money back guarantees, a no success, no fee kind of clause. Like hey, if you don't get an roi, then you can get a refund or a try before you buy, like a free trial. These are all techniques to lower the risk for the customer or better yet, reverse the risk, meaning you take on the risk when they buy. He also goes into some tips on presentations and how to close on presentations, as well as some scarcity techniques that he recommends that puts a little pressure on the buyer to make a decision. Before we wrap up today's must read episode on exactly how to sell a really good book by Phil M. Jones, I want to share with you an insight from the book that really stuck with me and that's Stop over promising, Leave room to over deliver. He says a lot of people that sell products and services over promise to try to sell it to try to convince their customers. But he says don't do that because you won't be able to buy and find out when they buy and they actually consume your product or service that hey, this is actually better than I thought, not the opposite. When you set the expectations super high, you're setting the customer up to be disappointed. So he says don't hide the catch. If they have to work, tell them they have to work for whatever they have to do. If it's like a workshop or training, they have to invest time or effort or extra money to make it work. You have to tell them that you don't want them to find out later in the program or in the product or service and they feel like, oh, I knew there was a catch. They promised me something and I still have to do something else or I have to buy something else to make it happen. Put all the cards on the table. He says, be proud of your price and if you feel like it's quite expensive, say it's expensive. Say, I know that this product is expensive, but let me show you why it is expensive. And then set their expectations realistically. Meaning when you show them testimonials or case studies, show them real results that they should expect, not exceptional results. Well, that wraps up today's must read episode on exactly how to Sell by Phil M. Jones. I highly recommend you pick up this book. Listen. You may not agree with every single strategy in this book, but rarely do I pick up a book and I agree with every single thing in it. But that doesn't stop me from reading it, benefiting from it, implementing some of the amazing strategies in it, and trusting that there is a perspective here. There is some reasoning or rationale for these strategies that do work in some industries, if not mine. And the ones that do work in my industry I will take and run with them. Thanks so much for listening to the $100 NBA Show. If you'll love it. You hear hit subscribe, hit follow on your favorite podcast app. Right now we're on every podcast app. So whatever you're using to listen to this podcast right now, Spotify, Stitcher Radio, Apple Podcast Radio on them all, hit follow, hit subscribe so you get our next episode automatically. Before I go, I want to leave you with this. This is a short and sweet book, but it's one of those books that you gotta take notes. I feel like there's a lot of information being thrown at you and I like so one of my favorite parts of this book is when he explains his three stage. And then I had a notebook next to me and I just jotted down how each technique can be applied to my own business. And as I did that, I started to think about when will I implement this, when can I put this in my calendar, and in what order do I implement these strategies? It's one thing to read a book, but it's another thing to comprehend it and apply it. And taking notes is the first step of applying the knowledge that you're getting from the book. Thanks so much for listening and I'll check you in tomorrow's episode. I'll see you then. Take care.

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