Transform Your Sales Strategy with the Relationship-Centric Approach

Welcome everyone to another episode of Mastermind Mastery. This is the podcast for you if you are wanting to create or already running peer groups. It's what we call PACs, Peer Advisory Councils. They might be known as mastermind groups, CEO peer groups, all the same. But this is the podcast if you want to run better PACs. You want to be better at being a moderator, you want to up your game, learn advanced techniques, hear from myself as well as guests what works, new concepts, trends, techniques. Also learn content, things you could take back to your meetings, different ways to do different things to solve problems that we all have when we're running groups. It will increase your retention, reduce your attrition, get you more members, make you more money. This is the podcast for you. I'm Tina Corner Stolz, the host. I've been doing this since 2005. I built a territory of 10+ groups, sold for a multiple, started Ellis Council Leader Exchange Council in 2012. We are a licensing model. We are the leading educator in the peer advisory council space. We have the podcast. I have a licensing program with certification. I've written 2 books. So today, when you hear this episode, each and every week it's a new podcast where we dive deep into a topic for 15-20 minutes. One week it's me doing a deep dive on all the experience and insights from not only today with our entire licensed partner community or the past, what I've learned along the way, but we also have guests that are out there doing groups today that share their insights and new concepts. So let's get started with today's episode.

Welcome everyone to another episode of Mastermind Mastery, and I'm Tina Corner Stolz, your host today. The topic is selling. Does that sound taboo? But the bottom line is, let's call it what it is, is selling a prospect to become a member. It's selling. Now I am doing today's podcast without any prep notes. And the reason I'm doing that is because I believe the process for selling is not you do this, then you do this, then you do this, then you do that. It is not as planned as you might think. Um, there are so many really wonderful sales skill organizations that give you that structure that I respect totally. And I'm gonna come back to that in a minute because in today's episode, what you're going to learn really is some of my, what I call nuances, tricks of the trade that I don't really believe are tricks of the trade, but are so effective that when I sell a member, i.e., a prospect to be a member, serves me well, like, every single time. And I don't feel like I'm selling. I'm just having a conversation with a really good friend. And it fits my style. It's not a hard sale. I'm a true believer that this is not a hard sale because anytime in the past I ever pushed hard for the sale, maybe because I was feeling pressure to fill a spot at the table, which is always wrong, different podcast, don't do that. We all make that mistake that I don't do a good job and I get the wrong member because they really aren't the right fit and they said yes and they really weren't truly bought in and because they weren't going to be a right fit and blah, blah, blah. And then I have a turnover and I'm back to square one again. And we all know what that means when you have a turnover. It's painful. It's painful for everybody. It's painful for you, painful for the members. It isn't good. There's lots of issues with that. Again, another podcast. So selling, I wanna share with you some of my thoughts about selling, and my goal is that it helps you have more fun with selling and that your closing ratio will skyrocket. Now, my closing ratio is pretty darn high, meaning it's over 75%, and I attribute it to this, okay? It's having a conversation and it's making it fun. But there are some key things that I believe that I say and do that cause that, okay? And my 75% plus is without a lot of qualification. Okay, so it's not like I have qualified and qualified and qualified prior to this conversation. Majority of time I have not. Okay, I know they're a business owner, or I know enough, okay, that it's worth to have the conversation, but I do not know— I do not know that they are a fit by any means whatsoever. So with that said, selling I have two things to share. One is, um, I have been Sandler certified. I have gone through, um, Miller Hyman. I've gone through countless other sales training programs because the majority of my career was sales and Um, actually, I wasn't in sales that long where I was the selling person, but it was sales, sales management, sales leadership, executive sales, um, whatever. And so consistently, I always come at things with that mindset. Um, so I know all those techniques that get an upfront contract and do this and do that, etc. And, and I respect every single one of those. So what I'm sharing with you today has nothing to do with those, okay? They are literally what I have seen work in this space because this is a relationship sale. This is not a hard sale. You are determining if they are a fit with the other peers in your group because it's a relationship. In order to get to the level of vulnerability that a member needs to have in a group, they are going to have to have a relationship with everyone else around the table and with you. So you are coming at this from the relationship angle, and I hope that makes sense. This is not like you're selling a copier. Or selling long distance. When I first was really in my sales career, I was selling long distance, cold calling door-to-door, telecom, asking businesses to, to use my long distance company. Like, you know, it's just as bad as copier sales, just a little better because I'm not hauling around any equipment. Okay, so this is not that. This is literally about discerning if you want to be, lack of a better word, married together because it's a long-term relationship. Your members are gonna stay members for an ungodly amount of time. The lifetime value of a client is extremely high in this industry when you do it right. It's almost a forever thing, right? And so when you're thinking about this conversation that first of all, the sales cycle does not need to be long. Typically, I talk to a prospect once and that's it. Okay, so it is not long. It might be twice, and that's rare. So when you think about one conversation for a lifetime, the ROI on that is tremendous, tremendously positive. So keep that in mind. A lot of times when I— right before I get into a call, I put in my head, I go, okay, dues are this, this is what this means annual times the average length of my member. So this is a thousands and thousands and thousands and thousands of a dollar client potential opportunity I have in front of me right now, and I need to treat it that way. And therefore, to know that I am going to enjoy a relationship with this client. I have to get to know them. I have to develop a relationship with them as a member. So first thing out of this whole podcast right now, which will probably be over a series of multiple podcasts, is I encourage you to be in the mindset of you're dating, okay? And yes, you might go on the first date, which is the first discovery call, and you actually might get married at the end of that date. And that's okay, and that's, that's possible, and it's normal. It doesn't mean you have to keep dating and dating and dating and dating and to get to a yes, because I will tell you, if that is the case, you probably don't have the right prospect in front of you at all, because this is not that difficult of a decision. It just, it just isn't. And I know you know that, all right? But what it is about the decision is it has to be the right decision, and they have to connect with you. Second takeaway, they have to connect with you, and they will not connect with you unless you come at it from building a relationship. And this is why we teach the FORD methodology, the F-O-R-D, right? You ask about their family, you ask about what they're doing in the business, uh, O, occupation, R, what they love to do, hobbies when they're not working, and D is their dreams. Okay. And so nobody asked them about their dreams, by the way. And we've done a podcast on the FORD concept. So I encourage, if you haven't heard it, go back into our archives and listen to it because it's amazing. It's all about building the relationship. So how do you use FORD with starting with the conversation with a member, a potential prospect, or a prospect for a potential member? So here is another tip in the selling process. I always open up with the conversation around, I want to get to know you. And the reason I want to get to know you, and you're going to get to know me, is because that's what's critical to putting the right people around the table with each other as peers. And it's important to me because this is a long-term relationship, ideally, 'Cause when we do this right, our members stay involved for a very long time. And I wanna make sure that the group meets all your needs and what you're looking for and what's important and gonna help you accomplish your dreams. And vice versa, you're gonna be additive to the group, not a negative. And therefore, and then I might stop and go, does that make sense? And et cetera. And they're typically like, oh yeah, exactly. 'Cause what I just took off the table is that I'm not selling you. I am not selling you. And I will tell you, I think this is critical and a reason for this success. It's one of the number one reasons if when I get asked, Tina, why, how can you close all these members all the time? It's because I take the table off that I'm selling. I'm not. I'm saying what I just said. And I cannot underscore enough, just try it and see what happens. So just try it. Just say, You know what, what I'd like to do is just start off and learn about you. And the reason I want to learn about you is because it's important to discern if this is going to be a good fit for you and you a good fit for them. It's very important. So do you mind if we start with that? Because we'll absolutely get into how this group might help you. But I will say it helps me a lot if I hear your story first, because then I'll relate and I'll know if this group is a fit for you, and I'll be able to tell you why it is specifically or why it is not. And there we go. And answer questions you have, etc. Is that good?

Yes, it is.

So I then ask, just, do you mind, tell me about your background? And, and they go a lot of times, where do you want me to start? Do you want me to start, you know, blah blah? And I encourage them, and I want to know from the beginning. Where did you grow up? It tells you a lot about someone where they grew up. What kind of family environment did they grow up? Did they grow up on a farm? Did they grow up in the big city? Did they move around a lot when they were young? Like, what was that like? Because what you're looking for is how did they get from where they were when they were young to running a business? Like, how did that journey happen? You're listening for what they're able to bring to the table because of the journey to the point of running the business. So you're asking all that, they're chat, chat, chat, chat, chat. You encourage, you encourage, you're taking your notes, you're taking your notes. And I'm taking notes from the standpoint of what I hear that are positives for the group and what I hear the group can help them on. I'm listening for what they're going to be able to bring to the table. To help the group and specifically what members. And I'm listening for what members are gonna be able to help them. And so I'm taking inventory. And this is a critical piece to get and understand 'cause it is essential of how I get a member to say yes without ever asking them to become a member. Okay? So yes, get a prospect to say yes. To become a member. So you start off with experience. That is number one. Tell me your story, tell me your journey, and ask questions during that. Oh my gosh, that, that had to be great. You're also looking for commonality between you and them, where you share interests or where they share interest with members in the group. They might talk about, I grew up in a large family, and da da da. Oh my gosh, did you really? I did too. How many brothers and sisters do you have? Oh, Perfect. Where were you in that? Oh, I was a middle child too. Like, what was that like for you? Uh, yep, me too. Or, you know, whatever. So that is doing what— what did I say earlier? Relationship, relationship, relationship. Okay, so this is how you start with relationship. This is all I want you to take away from today's podcast, which is how it is that this is not a hard sale. You're having a conversation like you're over coffee with a friend that you want to get to know better, and you started off with, tell me your journey. After you tell them why it is you're starting that way and why it's important, because you are not selling them, you are discovering. Discovery, discovery, discovery. So that's the first piece. Let them tell you about their journey as to when they were young up to how they got to the business. Okay, so that's just piece number one. We will cover all the other pieces in the future episodes to come in this series, but until then, this gives you a starting point, and I would love to hear how it goes for you guys because I am certain it's going to go awesome. and it's going to make it not stressful for you for your calls with your prospects. And you don't even have to plan. You really don't. You don't have to go, okay, what's the next question I'm going to ask? And now what's the next question I'm going to ask? Particularly if sales isn't natural for you, it can be very stressful. And if it's not your skill set, it's very stressful. So don't make it that way because it doesn't have to be. It just needs to be natural. And when you're natural, you're going to develop a relationship. When you've developed the relationship in that amount of time, they are going to be more apt to say yes, assuming you want them as a member, believe it or not, right? So again, relationship, the Ford concept. You ask them about their experiences and their journey. Because there was one thing my dad taught me, and I know many of you out there, um, might have heard the story already, but you cannot learn, in my opinion, sales by reading a book. Okay? And my dad was the consummate salesperson, and I learned all of this from him. And I can remember the day when we were in the car and he took a call from one of his clients that he was trying to sell a concrete mixer to. And when the guy called, he was trying to, you know, get the concrete mixer for less money than what Dad told him the price was. And Dad told him the price, and he said this on the phone because I could hear the guy, and I kind of knew this was one of Dad's bigger clients, and his name was Jimmy. And Jimmy goes, Joe, which was my dad, goes, all right, that concrete mixer, blah blah blah blah. He goes, um, what are you asking for it again? And Dad said, I'm asking, you know, $39,600. And Jimmy goes, oh, okay, well, what about $35,000? Dad goes, oh, Jimmy, you know, it's $42,500. I remember going to myself, my dad has lost his mind. He just raised the price when Jimmy asked for a lower price. And did he forget that he told him $39,500 and now it's 40, you know, whatever he said. And I'm going, I, I, I, I, I, I'm, you know, my dad is like, I gotta bail him out because he looks like ridiculous. Well, no, what happened is Jimmy started laughing and goes, oh, Joe, you do that every time. Okay, fine, $39,500. And I remember Dad getting off the phone. I go, Dad, you, you, you, you forget that you said $39,500 and that's why you quoted $40, you know, $2,500 or whatever? Dad goes, oh no, I didn't want him to think that he's going to get a discount. If anything, I'll raise the price on him because the price is the price and I know that's the value that they're getting. I'm like, huh, that's brilliant. I will tell you, I have used that. I have used where somebody says, well, you know, that seems expensive, that, that, you know, the monthly fee. And I'm like, well, if you want, I can make it higher. It just takes the tension off the table and they're like, okay, yeah, fine. So my point is, make this fun and enjoyable because it should be. I know that may be hard for you, but I will tell you, if you just have a conversation, it's not a sales conversation. It's a conversation that you're determining if this person that you need to go get to know really, really, really well in a short amount of time because you owe it to the peers around the table of your group to bring somebody in that you have vetted properly and believe that that relationship will add to the value of them in the group. So until next time and the next segment of this sales, you know, process and insight, um, you guys go make it happen and enjoy it, and we'll talk soon.

Hello listeners, and this is a quick promo because we have our national conference, Live Exchange 2024, coming up in October in St. Peter Petersburg, Florida. One day you can attend for a mere $500 and interact with your peers, others that are running groups, network with them, find out best practices, all those challenges that you're having, get insights that can help you personally. In addition to hearing a phenomenal list of speakers, I will open up that day with some insights in regards to moderating. And we'll turn it over to Vern Harnish, who, if you do not know him, you know, he's the one who founded Entrepreneur Organization. He understands peer groups extremely well, and he runs Scaling Up. You will take away phenomenal information that will help you run your groups, not only to scale your own practice, but to help your business owners in those groups with the content Vern is going to share. You will also hear on two other subjects, one about the importance of preparing your members for exiting the business, whatever that transition may be, and how do you do that. You will also hear about making change. How do you manage change? How do you facilitate change, which is required in today's environment? Again, content you're gonna be able to take back to your groups and use yourself. And last, we're gonna end it with Horse Soldier and 12 Strong. So if you don't know that story, that is the 12 soldiers that went into Afghanistan on horseback prior to us invading Afghanistan. You will hear their story about leadership and how they have transitioned that into a phenomenally successful bourbon brand called Horse Soldier, and you will hear how they have scaled that business. And we will end the conference with bourbon tasting. Again, a very packed day. I encourage all of you, if you are serious about your own personal development, I will see you and I will love to meet you personally October 18th in St. Petersburg, Florida. Go to our website and you can get all the details, see the details of the agenda, and register. Thank you everyone for listening to another episode of Mastermind Mastery. And to get access to today's episodes, not only the show notes, but any tools and resources, encourage you to— not only will you find them in the episode show notes, but also you can go to the website www. Lxcounsel.com. So lxcounsel.com, and you will find a plethora of articles and content and tools and resources and worksheets and things like that that can be helpful to you in creating and running successful PACs. I want to leave you with one thing that we end and teach to do in every single meeting routine, and that is the very last thing is to ask, what is your takeaway from today's episode? I encourage you to give that thought. Take advantage of the time you just invested in listening to the episode, and what can you do to move one step closer to the vision that you have and the goals that you're trying to achieve with your groups? So again, take a step back. What's your key takeaways? What can you actually actually act on. And I leave this with one note, and those of you that have read my book, Your Seat at the Table, you know that I ended the book with a story about my mentor. He always, when he met people, had a pebble in his pocket that he passed to them when there was knowledge shared. And so I ask you today to think about that pebble concept and to pass what you learned today on to someone else, which could be your members, or take it internally to yourself and act on it. So now go do something with those takeaways.