Have you ever wondered what it takes to be a top business owner/top salesperson in your industry, the one who makes all the money, who gets the promotions and all the respect? My guest today built three businesses from the ground up over the course of several years–but not as many as you’d think. In just four years, Traffic and Funnels–a high-level business coaching and workshop firm–grew from zero to 8 figures.
In less than one year, Wealth Cap Holdings–a real estate investment firm–did the same. Within 15 months, SalesMentor – his sales consultancy, grew from nothing to multiple 7-figures per year. He attributes most of his success to his early desire to be one of the best in the sales game. Now he’s on a mission to share what he’s learned with other sales professionals and business owners around the world. Most importantly, though, Taylor’s family is his first priority. They mean more to him than any business…
Resources
- Join The Sales Revolution: If you’re ready to do sales differently, you’re in the right place. This community is for entrepreneurs and sales pros to connect, grow, + learn the new (and highly improved) connection-based way of selling. Get ready to toss out all that you’ve been taught about sales up to this point. It’s time for a revolution.
3 Value Bombs
- If you look at professional athletes like Michael Jordan, you have to look as much or more at the work they do “off the court” than what they do “on the court.” Salespeople are some of the best athletes in the world – not with their body but with their mind.
- People are searching for leaders and clarity and certainty. People will buy based on your confidence and certainty. Be a breath of fresh air to your prospects by being certain about what you are doing. Certainty is gained when you know and practice the right skills.
- Your prospect will mirror your own objections. Many closers lose sales because of what the salesperson is projecting and the prospect is mirroring back. If you don’t have certainty and confidence in what you are selling, it will be mirrored back to you.
Sponsors
VIRTUAL SALES TRAINING PROGRAM & PLATFORM: Our virtual training has helped thousands of people and companies turn-around sluggish sales. The mobile-enabled, innovative, flexible training is rooted in human behavioral psychology and provides easy-to-consume, on-demand training for sustainable results.
SALES STRUCTURE PARTNERSHIP: Accelerate your growth with a customized partnership! This partnership includes onsite coaching and role playing for skill reinforcement, 1:1 work with Jeremy Miner on your specific product or vertical scripting (aligned to the new model of selling) and coaching support and alignment for your sales managers and/or sales coaches.
Show Notes
**Click the timestamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: 7 Figure Sales In A Bad Market – with Taylor Welch
3:14 What’s your take on the fear that has spread through the economy?
- There’s the economic fear and the health fear and they are not the same.
- Taylor’s businesses have actually grown significantly since the pandemic start.
- Fear can be damaging, but it can also improve your stamina.
- If you have a prospect with a problem and you have the solution, why are they not buying?
- Is it possible that what you are saying, or more importantly, what you are not asking your prospects, is causing them to not purchase your solutions so you can actually solve their problem?
- You have to get good at asking the right questions.
- You need to get good at building “good tension” that will create ample urgency for your prospect to take action.
- Consequence Questions get them to thin about the possible ramifications of them not taking action.
- It’s all about using skills and techniques that work with human behavior as opposed to using old-school, out-dated techniques where you are manipulating and pushing.
8:48 You have coached hundreds of clients at a time with their business, sales, and marketing…how have you been helping them to expand and adapt to thrive during these difficult economic times?
- If you look at professional athletes like Michael Jordan, you have to look as much or more at the work they do “off the court” than what they do “on the court.”
- Salespeople are some of the best athletes in the world; it’s not the body, it’s the mind.
- Everything starts with your thinking and your ability to maintain composure.
- One key is the ability every day to focus on your target.
- Lean into the fear. Go with the “flow of the river”. Use fear ethically in your sales prospecting.
- The best sales professionals in the world (just like athletes), train extensively.
- Is training something you did? Or is training something you do?
- If you are not learning something new each day, you’re regressing.
- What you believe is possible is directly correlated to what you are willing to do to go get it.
15:13 What do you think is the biggest opportunity right now that most sales professionals are just completely missing out on?
- People are searching for leaders and clarity and certainty.
- People will buy based on your confidence and certainty.
- Be a breath of fresh air to your prospects by being certain about what you are doing.
- Certainty is gained when you know the right skills.
- People buy today from salespeople who they feel can get them the best results.
22:15 What’s the difference between selling in a great market (that we’ve been in for about 6-7 years) vs. a bad market?
- It’s easier to sell in a bad market than it is in a good market.
- Why? Most problems are created during the expansion season, and they are being revealed in the contraction.
- To become a master closer, you need to make sure you disconnect yourself from personal gain from the conversation, where you have an emotional dependency on the end result. Otherwise you put undo pressure on the process which can cause your prospect to put up their guard and ultimately go away.
- If you know what you are doing, the market can naturally expand for you if you know what you are doing.
- Salespeople who are not expanding during a time of contraction are reaping what they’ve sowed in the good times.
- In times of economic contraction, every shortcoming in your sales ability will only be magnified if you keep using old school techniques that are keeping you in the status quo.
- Prospect have problems, you have solutions, the only thing that will keep them from buying is your sales ability.
27:27 What is the single biggest financial mistake you see most sales professionals making?
- They get too excited about solving the problem for the prospect as opposed to putting the prospect in a position to sell themselves and overcome their own objections.
- Objection prevention is something salespeople need to learn.
- When you ask the right questions, objections do not come up. Asking the wrong questions or talking about benefits and features, can trigger resistance with your prospect that causes them to build defences against you.
- By pushing the prospect and applying pressure, you are responsible for surfacing objections that didn’t need to be part of the conversation.
- Become a problem finder and a problem solver. But the problem finding initially is most important. You can’t solve problems unless you first help your prospect find them.
33:09 What do you think the difference is between selling 10 – 20+ years ago, and selling today?
- Taylor started in copywriting. The greatest sales people were old-school copywriters.
- 1950s – product based… (old ad agencies, selling butter & Rolls Royce cars, all product)
1980s – opportunity (all opportunity, stock-pickers got famous etc)
2000s – PROBLEM (big consultancies, Bain & Co McKinsey, etc… describe problem)
NOW – LEADERSHIP (Trusted Authorities) – it’s about helping people navigate towards a better future in whatever industry
- 3 rules of selling:
- Rule 1: Your job as a sales professional is to help your prospect do what is best for them.
- Rule 2: What is best for them is likely outside of their comfort zone.
- Rule 3: The prospect is going to fight to stay inside their comfort zone.
- Many of your prospects have become comfortable with being uncomfortable.
- People “logically” say they want the best products. But they don’t actually care about that. That’s not their main motivation. People buy on emotion; they justify with logic.
- Because consumers today are inundated with sales and marketing messages, they have built defensive walls to protect themselves.
- Selling is so easy if you have the right skills.
40:20 What do you think the role of trust is in the sales process?
- There is an old-school notion that people buy from people they know, like and trust.
- We don’t really know most of the people we buy from.
- What happens if I do nothing and nothing changes.
- It is inevitable that nothing is going to change unless I change myself.
- Are you listening to what your prospects mean by what they are saying or are you just listening to what they are saying? Big difference.
43:41 Why are most sales lost by the salesperson? What can salespeople do to make sure they don’t lose sales?
- Salespeople get too caught up in thinking it’s all a “numbers game.”
- Many salespeople are too lazy to update their process.
- It often is an identity issue and a confidence issue.
- Your prospect will mirror your own objections. Many sales are lost because of what the salesperson is projecting and the prospect is mirroring back. If you don’t have certainty and confidence in what you are doing, it will be mirrored back to you.
- Belief is a currency that is transferred to the other person.
- Collective Confidence is another way of referring to Certainty and Confidence in the sales process.
- One of the best ways to measure confidence is when you as a sales professional are able to tell the wrong people no.
- What is more powerful, we as salespeople telling our prospects what they should do and why, or learning to ask the right questions so our prospects persuade themselves why they should ask and buy.
- When you can detach yourself from the outcome of the sale and focus instead on whether or not there is a sale to be made in the first place, that’s when your income will exponentially increase.
- There is nothing more lethal than a salesperson who doesn’t need your business.
- That’s when your customers start chasing you wanting to convince you to let them buy from you, as opposed to you chasing them.
53:42 I can’t thank you enough for joining us here today. Where can our listeners learn more about you and your company so they can start learning these skills?
- https://thesalesmentor.com/reflex
- Facebook https://www.facebook.com/taylorawelch
- Istagram https://www.instagram.com/taylorawelch/
- LinkedIn: https://www.linkedin.com/in/taylor-welch-60765423/
Killer Resources
- The New Model Of Selling: Learn from Jeremy Miner The Only Friction-Free, Persuasion Sales System Guaranteed To Increase Revenue.
- Join The Sales Revolution: If you’re ready to do sales differently, you’re in the right place. This community is for entrepreneurs and sales pros to connect, grow, + learn the new (and highly improved) connection-based way of selling. Get ready to toss out all that you’ve been taught about sales up to this point. It’s time for a revolution.
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