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Overcoming Sales Objections

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The toughest obstacle for many small business owners is sales.  They hear the words “no” or “not right now” or “I’ll have to think about it” and they don’t know how to overcome the objection from the buyers. What do you do when you approach someone and their first response is “no thank you”? There are several ways to overcome sale objections.

Reframing

One way to deal with an objection is to turn it into an opportunity. You can change the buyers mind by showing them a perspective that they may have not considered by building your response with information that is so true to argue with without being contradictory. For instance when someone tells you “we already work with competitor Y”, it’s important at this point to understand why you are unique and be able to explain the value clearly. Try to show the client how other clients are using both products, but most important show the additional values that you can offer them (what they are getting by opting for your product to the competitors’ product) and how unique your products are.

Gather information

Asking the client some appropriate questions like “what do you mean, tell me more”, helps you to understand their objection and it also shows you have interests in them. Don’t ask questions that start with “why” as this will allow them to give all the reasons for their objection, giving you a hard time to respond. It’s therefore advisable to use open ended questions.

Don’t respond in forthright or commanding manner, it will make the client feel insignificant and unable to voice any further objection. Remember to look at what they are communicating non-verbally, their body language and even their tone can tell you more about how they are feeling and why they are saying no.  Here is a video on how exactly to ask these types of questions.

Use the best friend technique

Most clients will not give a decision right on the spot though they will give clues about what is preventing them from making a decision. In this case try not to ignore the client’s concerns instead just acknowledge them. Try to look at the situation from the client’s perspective and put yourself in his or her shoes. Imagine how you would be feeling if you were the client and what could make you feel more confident. You will be in a better position to understand and deal with clients concerns if you focus on understanding his or her perspective.

Sales objections are not fun for anyone in sales, but they can still indicate that the client has some interests in your products. Objections can provide an opportunity and by being proactive and trying to work with the clients to help them overcome their objections, it gives you a chance to create a long term relationship with the client.

 

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Busting Small Business Myths

Busting Small Business Myths

There are many business opportunities for entrepreneurs who are looking forward to starting their own small business. However, many people do not take these opportunities because of small business myths.

I want to share with you some of these myths and the reality related to them.

  1. You need a lot of experience to run a business.

You go to school to get a job because that is what students learn in school – to work hard and get a good job. In business, it is different; you run a business to learn a business. You have to venture into business to gain the necessary skills. There are many groups in your neighborhood that meet to discuss business ideas and how to implement them. If you are interested in starting a small business, then it is high time you start joining such groups where you can share ideas and learn how to implement them.

There are also online forums and blogs which are very useful to communicate and brainstorm with great business ideas with proven business professionals. As you can see, in business you learn as you practice. However, you should not spend more time learning and not have enough time to run your business.

  1. You need a lot of money to start a business.

The amount of money you need depends on which avenue you choose to take, and the kind of business you want to start. Establishing a company that markets health products is going to be a lot cheaper than setting up one that sells helicopters. The little money you have is enough to start a business and grow it to a big company if you choose the right one. There are also government programs out there that will assist you in financing your business with the proper paperwork and plan of activities.

  1. 90% of small businesses fail.

This statistic is exaggerated as high as 97%. The truth is that 20% of small businesses succeed between their first and third year. This is good news as one in five people are successful, which is better than one out of ten. The failure rate drops when you manage to remain steady for a while. You should also remember not to compare yourself and your business with others as you are entirely different. Your mode of running the business is different and same with success rate.

  1. It takes a lot of time to operate a business

It depends on how much time you are willing to devote to your business and following the schedule you create. With just five or six hours a day, that can be enough time to operate your business. It is all about sticking to the schedule.

To successfully run a business, it is necessary to bust these myths. All you need is determination, passion and commitment. You need to have that urge and drive to succeed and these small business myths will never cross you mind.

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