Many attendees of my training classes are amazed at how I come up with such quick responses to problems they throw at me. There is a secret. It is formulas. I have a number of formulas I use to solve problems. Plug the variables into the formula and the correct answer pops out. Many of Ray’s Rules are formulas.
For example, take your perceived weakness and make it the reason to buy your product. The only variable in above formula is perceived weakness.
Possible variables:
- You have no experience in this industry.
- You have no business in this area.
- You are too big.
- You are too small.
- You are a brand new company.
Here is how it works. Let’s say your prospect is a school district and they say that are concerned because you have no schools as clients. You say, “That is exactly why you should buy from me! We will be totally focused on your satisfaction and we have customized this solution specifically for you.”
I developed this formula 30 years ago and have used it countless times to win business. Plug in any of the variables and the answer is the same. Another formula is linking your solution to the critical business issue (CBI) of the prospect and place a dollar amount on the value of your solution. In this formula there are three variables but the process does not change. Prospect CBI’s could be account retention, increasing share price, organic growth, employee turnover. Your solution will vary but the process does not.
For example, assume the customer CBI is account retention. Assume your solution will increase account retention by 10%. Each 1% increase in retention will be worth $1 million to your prospect, Therefore, the dollar value of your solution is $10 million!
Start thinking in terms of formulas and watch your sales soar.