When working with my clients, one of the biggest challenges I have had is to get salespeople to effectively discuss money with prospects early in the sales process. Salespeople know how to discuss money, but many times their personal beliefs around money hold them back. When dealing with money there are both technical and conceptual roadblocks. When you don’t know how to discuss money it’s a technical roadblock, and it’s a conceptual roadblock when your personal beliefs hold you back even if you know how.
In many cases our conceptual roadblocks can have a much bigger impact on our ability to effectively discuss money in a selling situation. Unfortunately money is like sex, politics and religion; those words have many complicated beliefs around them. These beliefs primarily come from our parents. When you were young, your parents would say things like, “Money doesn’t grow on trees” and, “It’s not polite to talk about money with strangers.” Then, as adults, these beliefs may lead you to be pessimistic or embarrassed when discussing money in a selling situation. Our beliefs hold us back and make us feel uncomfortable.
Here are five strategies that can make you more effective when you talk about money:
1. Perception is reality
When you talk about money, perception is reality. It doesn’t matter what you think about your price, it matters what the buyer thinks. If the buyer believes he is getting a great deal, he is; and if the buyer believes he is getting ripped off, he is. The key for you in a selling situation is not to assume that your beliefs are the buyer’s beliefs. For some people, $10,000 dollars is a lot of money and for others it is a tear drop – don’t assume.
2. Fake it ‘til you make it
Another strategy that may help is to “fake it ‘til you make it.” Act like you have all the money you need when you talk with the buyer. It is not being arrogant or cavalier but confident. This will make it much easier for you to have both direct and honest money conversations with buyers, especially early in the sales process.
3. Practice, practice, practice
One of the best ways to help you talk comfortably about money is to practice. Role-play the important money conversation with a co-worker or friend before you have it with the buyer. Be prepared for the worse-case scenarios and determine how you will respond. Discussing money the same way every time can help suppress our negative beliefs.
4. People always remember the lowest number
When you are giving a buyer a range for your product or service, make sure that “your” number is at the low end of the range. If you are giving the buyer a range of $25,000 to $35,000 for your services, “your” number ($25,000) should be the number that you ultimately think will be the price. People always remember the lowest number and that’s the number that they often give their boss. It doesn’t mean you won’t get the deal with a higher number but you make harder on yourself in the long run.
5. Silence is golden
We have all heard the expression, “Silence is golden.” When you are negotiating your price, put a number on the table and say nothing. The rule is, whoever talks first loses. You want to get the buyer’s perspective on a given price. Anything we say after we give our price only justifies that number. The buyer could be perfectly comfortable with the price and we need to get their perspective before responding.
Finally, when you think about cialis5mgbestprice.com/premature-ejaculation-in-men-foundations-and-techniques-of-treatment/ money to some extent, it’s irrelevant how much you charge for your product or service. It really comes down to how much the buyer wants it. Invest versus cost. It is not how much you charge but how much someone is willing to invest to solve a problem or how badly the buyer wants what you are selling.