The Sales Wheel and 33 Priceless Maxims:A Salesperson´s Handbook

Introduction

I wrote this brief book to share a sales methodology that I know is effective. I learned so many key lessons about the sales process through trial and error. Sales drive most businesses. It is a well worn path, but that does not mean that knowledge and experience easily passes to the next generation of professionals. I began my first job in sales with a large commercial bank in 1993 and have developed techniques and insights ever since. I have sold securities, insurance, legal products, charity, and even political ideas. I have been a salesperson, sales manager and a consultant to sales organizations and seen a myriad of styles. Yet, they all could be reduced to a similar sales process, and successful salespeople share common ways.

My thoughts are especially relevant for sales professionals who prospect strangers for new business. Some organizations have a number of existing buyers, and the salesperson behaves more like an account representative. I am writing for the person who has to find and engage clients or buyers.

In 1995 I attended a conference run by a well known American management consultant who specialized in supporting small and medium sized businesses. I will never forget his reason why people don’t like to sell. The conventional answer is ¨because we are afraid of being rejected¨, but he said it was because there is a tremendous amount of ¨emotional risk¨ when you enter the realm of making decisions for other people. It is as if we understand that convincing someone to buy your product or service has a consequence or a cause and effect that generate emotional anxiety. Nobody likes to hear no, but making decisions for others is even harder. I immediately sensed he was right. Selling is risky in the sense that people are putting their trust in you when they buy. This is also a compelling reason to represent ethical products and services that actually add value. You will be better at it.

I find it helpful to be thoughtful about the fears and anxieties we all experience when selling so that one can identify insecurities for what they are and get over them. This is critical because the sales methodology that I will discuss is designed to run that emotional risk. In my approach, you never stop asking for business. It is a sales wheel. The Sales Wheel consists of five simple parts: the offer, the snap profile & recommendation, overcoming objections and the close. Each part is linked by a transition statement or question. The offer should be stated in less than one minute. The snap profile should be a very brief qualification of the prospects need for your

product such as a financial profile. The circle of overcoming objections, restating the offer and benefit to finally close the deal should be where the salesperson´s time is spent.

I hope you enjoy these useful maxims and that the concept of the Sales Wheel helps you become the best salesperson possible.Note: I use the word product to mean both products and services.

1. Keep dialing, keep dialing, leave messages and take return calls (not messages)

Sales is a numbers game. Disciplined work habits drive your call volume which determines how many prospect you actually speak with to make your offer. I often refer to the 10 percent rule. You will turn 10% in your universe of prospects (say, a conference list) into qualified prospects. If 10% of your qualified prospects pick up that phone or return your call, and one in ten become clients then every call you make and take counts. So, keep dialing and take your calls!

2. Ask for the business…every time.This cliché is underrated. We all know that if we don’t ask for the business we won’t get it. Winston Churchill also said, “Never, never give up.” We all also know that if we are to succeed we should never, never give up, but that doesn’t mean we do it. I have found a “crutch” that assures I ask for the business every time. It is part of my methodology, The Sales Wheel TM. Even if you feel the prospect slipping off the phone I force the transition statement, e.g. “If you’d like I can just take a moment and gather the information we need to begin the process?” Its often an awkward moment. I am asking for the business as the prospect is effectively trying to get of the phone, but you would be surprised how often they say YES or at least, “Well, how much was it again?” which leads back to a second chance in the Sales Wheel. Never give up…ask for the business every time.

3. If your product cannot be engaged with a credit card, then restructure your offer.

I don’t care if you sell Global Express private jets for 50 million dollars, when you close the deal take their Centurion Amex charge card for the first million. A sale only becomes real when money is transacted and the prospect becomes a stakeholder…a real client. If you don’t, you will lose half of your sales volume. Right now, you may already be losing half and you just don’t know it. Engage the client with a credit card now and save the deal. Take 100 bucks, take 5%, take something. If not,

the check will always be in the mail and you will lose, literally, half of your buyers.

4. Fight the prospects concerns about product credibility before overcoming their concerns about pricing.

I call this maxim, The Credibility Death Match. It’s a linchpin in the Sales Wheel. You have to win it. If the prospect doesn’t believe you or believe in the value of your product, there is no “credibility” and they wouldn’t take your product if you gave it to them. When the prospect challenges the intrinsic credibility of your offer, throw down the gauntlet and fight to death first. Win and then you can overcome their concerns about pricing or other matters. But if you lose it, remove the prospect from your call list.

5. Never apologize for your pricing This maxim is really part B of the Credibility Death Match because after the prospect challenges the credibility of the product he will challenge that it is worth your price. There is only one way to handle it, never apologize for your pricing. You can compare your pricing to other products, you can eulogize your bells and whistles, you can sing a song but never sound or seem unsure or shy in any way whatsoever about your price (e.g. “I know it is expensive but”). Don’t apologize.

6. Never discount, haggle, bargain or horse trade over pricing. Your price is your price.

I often win the Credibility Death Match and the prospect says ¨I like your product. I want to buy it. I know it is worth what you are asking, but _______ (there are a hundred good lines that could go here). As they say in the real estate business, “It’s just too much house.” This is a bargaining tactic that undermines everything. The essence of your answer effectively needs to be, “Then, too bad…call me when you can afford it.” If you haggle, then you unwind what you have worked so hard for, the close. It is like winning a sword fight and then falling on your own sword. Don’t discount. Your price must be your price or you lose your credibility and profitability.

7. Speak with a warm but authoritative toneWe all hate insincerity and a fast talkin¨ fake is downright offensive. Great salespeople are informed and sincere. They exude competence, but the best among them take sales communication one step higher. They are not friendly but warm and authoritative. Think about it.

8. Know your market segment and be proud of it.Salespeople are often afraid to talk about similar products in higher or lower end market segments. It is understandable, they don’t want the prospect to say, “Really, you mean I can go across the street and buy it for less?” But it is important to speak openly and be informed about other market segments because prospects sense that you are shooting straight with them. It brings more credibility to your offer and demystifies your competitors. Stand your ground and be proud of your market segment no matter how “high-end” or “low-end” it may be.

9. Be knowledgeable about product leaders in other market segments

Take the last maxim a step further and become an expert on your competitors in your and other segments. It creates an aura of transparency that comforts the prospect in a buying process. Imagine if you go to a car lot and the Toyota dealer waxes eloquently about every merit in a comparable Nissan, contrasts the two and explains where the value lies in a Toyota. The Toyota dealer just did your homework for you and now you can buy a Toyota.

10. A salesperson should always be driving The Sales Wheel: offer & snap profile, overcome objections, closing statement, offer, overcome objections, closing statement, the close.

It takes discipline to never stop driving The Sales Wheel. As explained in maxim 2, it can be awkward. How many times has a prospect torn me apart with barbing challenges like, “I know this is just boilerplate, you actually think I would pay you 20 thousand dollars?¨ My answer would be simply, “Yes (pause), Mr. Smith you have understandable concerns. Good questions…any other questions about how this product works or why it is so important? (pause) If you’d like we can go ahead take a moment and gather the information we need to begin (pause) what is your legal name?” As they say, aaaawkward. But it works. To stay on the sales wheel and never quite overcoming their objections to wheel back around to take another pass and ask for the business takes discipline, but that is how you overcome their doubts and win loyal clients.

11. Don’t cherry pick leadsIf your database has a hundred contacts in it, then dial 1,2,3,4 until 100. The tendency is often to begin evaluating the lead and say, “Oh, he is not a hot lead.” as you click to the next one. You never know who is a

buyer. Treat every prospect equally and with the same intensity.

12. Be a listener but keep the conversation on pointSometimes prospects want to talk about a need that your product does not fulfil. This is a slippery slope as you watch them lose sight of the personal benefit that you are providing. Yes, be a good listener but steer back to your story line. It is appropriate to ignore their train of thought and make a bold statement such as “I would really like to reiterate the real purpose of our program…” as you get back on the sales wheel of offering and overcoming objections about your product.

13. When your product is sold, bring the conversation to a close after warmly welcoming them aboard.

Nothing is more frustrating than watching a deal unwind after it is closed. But it happens all the time. Be disciplined and bring the call or meeting to a close before your client experiences premature buyer’s remorse or finds another round of objections.

14. Be true to the sales wheel by remembering that every objection brings you one step closer to the sale

A prospects objections can feel tiring, even irritating, at times but do not lose your patience. Overcoming objections is like a tennis volley and the best matches are hard won. The prospect should sense that you care about his concerns as you are unwavering and consistent with responses. The transition statement should sound like, “These are good questions. Do you have any other questions about how this works or why it so important?” Keep answering questions that are relevant to your product. They are simply sending you buy signals.

15. Do not be above gross simplifications to communicate complex products

I often found resistance to this rule among “high end” service providers or salespeople who sold complex products that it took them years to understand. I understand that it can feel demeaning to explain an area of great expertise by using what one may consider childish metaphors but if the sale is important to you…better find a way.

16. State the personal benefit of your product in the initial offer and reiterate it as often as possible

The heart of your opening one minute offer which is the first step in the sales wheel is to state why they need or will benefit from your product. Be upfront about subtle

benefits like peace of mind. Insurance sales for example is not about contracts and death benefits but peace of mind, so state it clearly. Build the case and articulate the list of personal benefits and reiterate them as many times as possible while driving the sales wheel.

17. If your prospect involves more than one decision maker then be mindful of the “purchasing process” of their organization

Sometimes the purchasing process is the family dinner table. Sometimes it is a committee. Sometimes it is two people. Even if you convince an individual you can still lose the sale. Get the decision makers on the same call or meeting. Go through the sales wheel with each one individually if necessary.

18. Read Jeffrey Fox’s book, “How to Become a Rainmaker”I really like this book. His frank language and relevant tips are solid advice for salespeople. Grasp his concepts of dollarizing value and live by his adage that “a shot on goal is never a bad play.” Keep this handy book on your desk.

19. Think of your work as being like an Olympic sprinter who is trying to beat his best time

This maxim keeps you motivated and brings more meaning to your work. I believe that it is unrealistic to always “love” what you do. Some folks say that so others will envy them or it feels consoling. Let’s face it, some days are a drag but remember that you are competing against yourself. Performance should be a personal measure of your improvement as a person and a professional. When the crowd of admiring colleagues stops clapping one can enjoy the satisfaction of simply getting better. The consummate salesperson may sit alone in a solitary office for thirty years doing essentially the same work but his evolution is that of a sculptor mastering his craft.

20. Include existing clients in your prospect call listWe often forget that once a prospect becomes a client that she can still be a prospect. Clients have paid you once for a product and will do it again. They are also your finest referral sources if you keep in touch. You also never know when you or your company will roll out an additional product. Even though it may not be your job to provide customer service or administration, consider clients as eternal prospects.

21. Do not allow yourself to truly burnout

I have seen world class salespeople wake up one day and just quite. Perhaps they didn’t acknowledge the warning signs. Depression and a sense of uselessness usually follow. It happens. We are only human and sales is intrinsically work with pressure. Take vacations. Take personal days. Sleep in once in the while. Leave the office early a couple of times a week to go to the gym. Do not beat yourself up over a quarter of poor performance. Have faith in the long term numbers and your work habits. If you really feel that deep form of burnout building, save some money while you make the necessary preparations to take six months or a year off and follow a random desire like moving to Portugal to write a novel or Indonesia to packback the Archipelago or Brazil to learn to samba dance. It could literally save your career and more. You can always get back on the sales wheel but it’s pretty tough to fix a burnt light bulb.

22 Revisit your cold leads or the Do Not Call list after a yearJust because someone says no today it does not mean they always say no. I have found that most of the time when prospects bluntly told me to leave them alone it was because I happened to catch at a bad moment. They usually forgot our conversation when I called them back a year later and I folded the file back into my hot lead list.

23. Be innovative and self reliant to bring in new prospects to your contact listEven if it is not your job to market or generate prospects, make it your job. Marketing vs Sales is an old war but the great sales person takes personal responsibility to fill his lead list. Ask even prospects for referrals. Leverage existing clients. Go to colleagues in other departments to find referral synergies. Do not be afraid to create a public profile. If in compliance, utilize the internet, Facebook, MySpace, You Tube, CurrentTV, industry blogs, self publish a book through www.iuniverse.com, buy “Search Engine Optimization for Dummies” and spruce up your website. Beat the drum about your hard earned credentials. Realize that everyone is important as you network. Join the Rotary Club, shake hands at events, go where there are lots of people being social. One time I saw a politician shake an insurance salesman’s hand and say, “I’m running for Congress” as the salesman replied, “I’m running for insurance agent.” He gets it. Be public! Whining to the marketing department, henpecking your marketing assistant or pitying a decline of standing in your product´s brand will not improve your performance. Think of marketing self

reliance as self-help and a form of saving for the inevitable rainy day.

24. Know every detail about your productSimply put, you should never find yourself saying “I don´t know” or “let me get back to you with the answer to that...” Study, interview colleagues, ask questions. Do what you must to be a genuine expert on your own product.

25. Don’t deal in kickbacks or promise referrals to get new prospectsBelieve it or not I have found that payments and reciprocating referrals rarely motivate others to refer you prospects. More importantly, these dealings damage your credibility.

26. Carefully craft your sales script for each part of the sales wheel…and stick to the script!This is critical. Craft each word like a poem. Use a thesaurus. Don’t be afraid of rich words. Edit, edit, edit your script to perfect efficiency. Read William Strunk´s book, “The Elements of Style”. Hire a professional writer to polish your language. (bethbrownresumes@yahoo.com). Reflect on techniques that worked for you, that fit your sales personality and practice them. Once you have invented your perfect sales pitch do not reinvent the wheel. Stick to it. If you are training or managing others make sure they stick to it too.

27. Script and stage the message you leave on prospect’s voicemailVoicemail is an excellent opportunity to state your offer and product´s personal benefit. I suggest staging the message in the sense that it is a chance to create an impression as warm and authoritative. Think about how many thoughtless voicemails you have received and consider what message you want to leave for others.

28. Utilize the power of a pausePauses are beyond theatrics. Pauses are purposeful. When others finish speaking a pause affirms that you are considering what they have said. When you are speaking, a pause allows your point to sink in and conveys a seriousness. A well placed pause is a symbol of self confidence and poise. You are building credibility to engage a new client. Utilize every tool possible.

29. Don’t allow yourself to take rejection personally

I know this seems self evident but even the most hardened salesperson can lose his cool. Perhaps a certain personality type triggers a defense or maybe a prospect makes an attacking statement that is, well, personal. Do not understimate how one bad chat can turn into a bad day. Disarm any emotion with a deep breath and simply remind yourself that is definitely not personal.

30. Push through bad daysSome days I just started on the wrong foot and couldn´t get anything right. I found that doggedly picking up the phone again and again while repeating to myself that it´s gonna´ get better actually worked. It may take an hour or two but push through until the light appears. This is important because bad days can become bad weeks and so on.

31. In meetings, dress the partConventional wisdom says to always dress “professionally” but in sales it is appropriate to dress in the context of where you are meeting and with whom. I love cufflinks and a three piece tailored pinstriped suit with an Hermes tie wrapped in a big windsor knot, but it is rarely appropriate business attire. Airs can be offputting. On the other hand, it is rarely appropriate to appear sloppy or too trendy. It doesn´t seem serious. The point is to consider the context and dress accordingly. Think twice before you leave the house about how you are dressed and what message that sends.

32. Don’t be above cold callingCold calling keeps a salesperson sharp and humble. Rocky Balboa lost the title after he quite training in the ol´ Philly neighborhood gym. Make cold calling a part of your sales diet no matter how exclusive your product may be. If you are a sales manager or the superior of other salespeople it sends a powerful signal of what is expected to make the grade.

33. A Salesperson’s credoYou write this one for yourself.

Benjamin began his career in sales with Chemical Bank, Credit Lyonnais and Merrill Lynch. In 1998 he directed new business development for a leading Arizona based law firm and now independently advises firms as a sales consultant. Benjamin holds a bachelor’s degree from Connecticut College and Master´s degree from the Fletcher School at Tufts University.