Sales lies that are holding you back
It's time to stop perpetuating the lies of the industry and to remove the lies so the truths can take root.
Too many salespeople are on a Quixotic pursuit of mysterious truths to drive their sales success. They want to find that compelling pipeline-filling cold-call script, to learn the magic question prospects can’t deny, to acquire the perfect solution coveted by all.
The thing is, the truths that unlock sales success aren’t mysterious—and are already all around you. Sadly, most advisors don’t see them because they’re obscured by the lies we tell ourselves. Admittedly, these lies are easy to buy into because you can find a tiny bit of truth in each of them.
Lie #1: This is a relationship business
Tiny bit of truth: All things being equal, people do business with those they know, like and trust.
This is hard to deny, right? It seems to support the idea of this being a “relationship business.” But here is where the lie obscures the truth: The key is in the “all things being equal” qualifier. Things are only equal in a commodity business. Don’t let things be equal.
If you are competing with a spreadsheet and capabilities presentation, yes, all things are equal. Instead of depending on a spreadsheet, capabilities presentation, and, ultimately, a relationship to earn new business, focus on your ability to deliver more value and more impactful results than your competition. Remind yourself every day that this isn’t a relationship business. It’s an advice and results business.
Lie #2: It takes two to three years to develop a new client
Tiny bit of truth: For way too many producers, the sales cycle does take this long; but it shouldn’t.
If it does take this long, it’s because your sales process isn’t creating a sense of urgency. It’s also a strong indication that the producer has bought into Lie #1. After all, it takes a while to achieve “best friend status” with a prospect.
To ensure all things aren’t equal, utilize a sales process that gives the prospect permission to expect more from an advisor than a spreadsheet, free stuff, and “good service”; uncovers needs that are hurting their business; enlightens them to attainable and impactful solutions specific to their needs; and shows them a clear path to bringing meaningful improvement to their business.
When you bring this kind of education to a motivated buyer, they will not want to wait years. They’re going to want to improve their business as soon as possible.
Lie #3: I only work on referrals
Tiny bit of truth: For many producers, the only opportunities they ever have in their pipeline randomly are those that show up while they sit and wait.
On the surface, this lie sounds admirable. The reality is, this is a statement used by producers who are afraid to prospect. Admittedly, prospecting is the scariest and most difficult part of a scary and difficult job. But it doesn’t have to be this way.
Do you genuinely believe in you and your team’s ability to deliver better results than your competition? Do you believe that your clients are more successful because of working with you? If so, then recognize that prospecting isn’t the rude interruption your fear it is. It is an offer to share business improvement ideas with someone who desperately needs them. If you have this kind of insight and ability and don’t make it available to those who need it, shame on you.
Lie #4: Our service is what sets us apart
Tiny bit of truth: Because they still operate in such a traditional manner, this is the closest many agencies can come to articulating a value proposition.
But if an advisor/agency failed to provide good service to a client, what would happen? They’d get fired, wouldn’t they? Providing good service is not a differentiator; it is a minimum expectation we all have of anyone with whom we’ll even consider doing business.
Ultimately, all that sets you apart is how you work. Your value lies in your ability and willingness to figure out what a prospect needs, offer specific solutions, and methodically use them, ensuring each client gets improved results.
A healthy personal narrative
It’s time to stop perpetuating the lies of the industry and to remove the lies so the truths can take root. Wouldn’t the following be a more positive story to tell yourself?
- I am competing in an advice and results business.
- I will earn a new client as soon as they understand how I will make them stronger.
- My prospecting efforts aren’t an intrusion.
- I have valuable business improvement insights to share and I have a responsibility to make them available to those who need them.
- What sets me apart is my willingness and ability to do things others won’t, things my clients need to be more successful at what they do.
Cut yourself free of the choking vine of lies so you can grab the branch of what can be when you embrace truths of your success.
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