I went to see The Wolf Of Wall Street last weekend and I absolutely loved it!
It was right up my street but not for “you know what!”
I loved it for the fast pace of the movie and the sales!
The film is about Jordan Belfort a greed obsessed, drug taking Stockbroker who made hundreds of millions only to be convicted of fraud due to his penny stock boiler room business.
At the end of the movie it pans onto Belfort, some years later as a Sales Trainer and Motivational Speaker promoting his Straight Line Sales System.
Although Jordan Belfort was an advocate of the “hard sell” which I am not, I took time out to actually look into his Straight Line System Sales System.
There’s lots to it but the crux of it is this…
In an ideal world a sale would be like the straight below from A to B. The open would be at A and the close at point B in a straight line. i.e the prospect would say yes to everything you say with no resistance or objections whatsoever.
But that’s never going to happen!
Instead, the prospect will give you objections and excuses taking you away from the straight line like this:
Now it’s your job to keep the prospect within certain boundaries bringing them closer to the straight line and if the prospect takes you out of those boundaries then you lose control of the call and you need to reign them back in.
Here’s a tip: The person who asks the most questions is in control of the call. It’s your job to be in control of the call.
It might sound obvious and it is to be honest but it’s a good explanation of what happens on a call from building the initial rapport on the call all the way through to the close.
**UPDATE – 29th May** I recently attended a seminar run by Jordan Belfort.
MTD Sales Training
I read an interesting article in the Guardian last Friday about how young Dutch footballer’s skills are perfected by their coach.
They get them to actually kick the ball 10,000 times a day in sets of 100-200 repetitions at a time.
They work with their young players in various drills. A mixture of toe-touches, dribbles, Cruyff turns and the like!
Go on over and read the article “Practising Perfection By 10,000 Touches” – it’s a fascinating read and insight into drilling excellence.
By carrying out these drills over and over again it becomes second nature to them and countries like Holland and Spain have worked out an almost formulaic approach to churning out great players by getting to them early and by cultivating excellence in this way.
It’s a process.
This got me thinking about the best sales people I’ve come across over the years and the best sales teams.
In terms of the top performing sales people…
They read books, attend training, learn from their peers and are committed to continually improving and perfecting their skills.
It’s not going to be as radical as 10,000 touches per day but they do something every single day to improve and hone their skills
The bottom line is that you need to practice over and over and over again to make perfect.
In terms of the top performing sales managers…
They churn out top performing sales people by having a training and on-going performance improvement process for them. From the moment a new starter joins they enter a system and a process to get them performing as soon as possible and then keep them performing.
Nothing is left to chance!
Don’t leave anything to chance or luck.
Develop a system and a process to improve.
Whether you are the player or the coach make sure you’re committed to excellence in all that you do and give yourself the best chance of success.
MTD Sales Training
In no less than 6 weeks MTD Sales Training’s MD Sean McPheat will be returning to the stage at the Institute of Sales and Marketing Management’s (ISMM) Successful Selling Conference at the Ricoh Arena in Coventry on October 12th.
Following on from the success of last year’s conference where Sean keynoted to over 1,000 sales professionals on his alternative sales method known as eselling©. During his keynote, Sean showed the audience at the ISMM why they should be using social media and other internet-based services to enable better prospecting, personal branding, networking and engaging with key decision makers online.
This year Sean will be delivering his Practical Sales Clinic breakout session, in which he will be digging even deeper into the concepts behind modern day selling and showing attendees at the event exactly how they can use the power of social media in their selling to gain a real return on their investment.
Sean’s return to the Successful Selling Conference has been causing quite a stir in the local media, with the Coventry Telegraph publishing a great piece on the background behind Sean’s modern day sales approach – detailing Sean’s achievements as an entrepreneur and the owner of many successful internet-based businesses.
Sean has proven that his modern day approach to selling really does work, and he is keen to show other sales professionals and business owners in all sectors and industries exactly how they can use the Internet to improve their sales performance and generate more qualified leads for their business.
For more information on the ISMM Successful Selling Conference, including a full agenda of the day, please visit http://www.ismm.co.uk/events_successfulselling.php.
See you again soon folks,
MTD Sales Training
Professional selling is perhaps the most subjective business in the world. You will always be somewhat biased when it comes to measuring your own work ethic. The amount of prospects you think you talked to and the actual amount of prospects you spoke with, will seldom match. In addition, factual sales data can be equally as misleading. To get a clear picture of how you are doing in your sales career, you have to measure more than the amount of sales you made.
As an example, using a hypothetical sales person let us assume that in her business, it is typical for a sales person to close two sales per week or eight sales per month. For a sales rep to close four in a week or ten or twelve sales in a month, is considered a great month. The last week of the month, our sales person closed five sales that gave her eleven sales for the month!
Did our sales person have a good month? Before you answer yes, consider this additional information: The sales person’s closing average is 33% or about one out of three, which is a little higher than the company average. She must complete three closing attempts to close one sale. Therefore, to close eleven sales, she should complete 33 closing attempts. However, upon further review, we find that our sales pro only did 18 sales closes that month.
What is The Problem?
You might wonder, “So, what’s wrong with that? She was hot and she just had a good month, right?” What is wrong with that is as per her closing average, she should have completed 33 presentations, but she only did 18. What is wrong with that is that 11 out of 18 is about a 61% closing average! Did her closing ability magically triple overnight?
Your closing average is an average, complied over time. Because you have a one out of five (20%) average, does not mean that you will only sell every fifth prospect. You may make three, four, or more sales in a row. However, eventually the law will catch up to make that average come close to 20%. With that in mind, what do you think is going to happen to our hypothetical sales person next month? The sales person in our example had a terrible month, despite the sales she made.
Do Not Just Measure the Sales
To get an accurate picture of your sales performance, measure more than the end result—the sale. Use CRM (Customer Relationships Management) software or some database management system to track your sales activity accurately.
Track and measure sales activities such as the number of closing attempts, the amount of calls, the amount of emails, the number of sales interactions and the amount of appointments you set. Stay consistent in your work ethic and sales related activity and the results—more sales— will be automatic.
MTD Sales Training