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Tuesday Quick Tip – Selling is All About Odds

Welcome to “The Tuesday Quick Tip.” Every Tuesday, I’ll be publishing, on this blog, a short, 1 to 2 paragraph tip to help you achieve success in your life, business or career.  You can also receive “The Tuesday Quick Tip,” by email, along with our weekly videos and a free “Time Management Workbook,” when you sign up for a free subscription to my email list.

TIP

In sales the odds are always against you.  More people will say “No,” than “Yes,” whether you’re calling for an appointment or trying to close a sale.  Successful salespeople understand their odds of success and constantly try to bring those odds down.

For example, have you ever done any fundraising?  If you have, you know that if you’re looking for $25 or $50 contributions, you send out a post card, email or post it on facebook.  Why: because the market for that size contribution is huge and you only need a ½ of 1 percent return. If you were looking for a two, three or five hundred dollar donation, you’d make a phone call since that market is much smaller, dictating at least a 10% return.  But, if you wanted a ten thousand or fifty thousand dollar donation you’d make sure you got in front of that person, because that market is miniscule and you better close 1 out 2, or 1 out of 3.  Here’s the question: What rate of success are you looking for in your sales effort: 5 out of 100, 1 out of 10 or 1 out of 2?  That should tell you the best way to approach your market.

If you’re interested in learning how to beat the odds and increase your chances of getting the appointment, attend my 90 minute webinar: Prospecting Skills to Increase Your Sales, on Thursday, August 18th at 12 Noon Eastern Time.  For more information and to sign up CLICK HERE.

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