How To Get The Money Off Your Mind When Closing The Sale

Written by Sean McPheat | Linkedin thumb

24 May, 2012

Money on the brainHaving the right mindset during the close is far more important than any super-sales technique, closing gimmick or pricing strategy. You can have all of the best words and closes, but if your potential commission is at the forefront of your thoughts, you are dead.

Your Mind is on the Money
Once the prospect feels that your interest in the buying decision rests largely on the fact that you NEED the sale, it is all over. The problem is that often you really DO NEED the sale. Of course, some people tell you that you should simply not think about it. But let’s be honest; that is not only easier said than done, but depending on your personal financial situation, it may seem impossible.

So, how do you get that gleam of hunger out of your eye and that tone of desperation out of you voice when the truth is that you badly need the sale? Try this.

Put the sale in its proper perspective
In situations when you NEED the sale, your fear of losing the sale becomes a nightmare. This is because closing the sale represents a ton of money. However, you need to understand that the sale you may or may not close, is NOT worth as much as you think. You need to put the sale in its proper perspective and understand what is truly at risk should you lose the sale. What you earn when you close a sale is NOT the amount of the total commission.

Not such a big deal
Let’s say that on your average sale you earn £400. Of course, there are bigger sales when you earn perhaps £1,500 or more and then there are small ones where you make only £150. But your average is £400. You also have a closing average of 20%, or one out of five.

Therefore, you actually earn but £80 per sales interaction (£400 divided by 5). On every closing attempt, whether you close the sale or not, whether it is a big sale or not, you essentially earn £80. That’s all. In addition, keep in mind that you earn that £80 regardless if you close the sale or not.

All that you are dealing with is the amount you earn on a sales interaction or a closing attempt. That’s all. It may appear that the £1,500 or £5,000 is at stake. However, all it really is (as in this example) is £80.

You are scared to death at loosing the sale because you see a huge commission at stake. However, that huge commission is but an illusion. Most of it you already earned on the other sales interactions. You will earn nothing more than the amount that you earn on every sales interaction; win lose or draw.

Put the sale in perspective and relax.

Happy Selling!

Sean

MTD Sales Training | Sales Blog | Image courtesy of Digital Art at FreeDigitalPhotos.net

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