How To Turn A Struggling Business Into A Sales Machine
After helping sell over $117 Million Dollars worth of products and services around the globe, I’ve seen a number of miracles happen over time.
One company (that shall remain nameless) went from doing 2.5 million a year to over 100 million in a few short years.
After 50 countries, working in 5 languages, and 1000’s of tests – here are some universal strategies you need to master to grow your company to as large as you want.
You can turn your struggling business into a sales machine.
The aim of this article is to help you develop some of the key growth skillsets so you can create the exact business that you want.
If you don’t have time to read the article and implement the strategies and just want us to help you, then you can schedule a 1 on 1 conversation with me by clicking here.
As a business owner, you have more courage than the rest. That courage has taken you down a business path that has probably bloodied your nose a few times and challenged you to no end.
That’s what is required to produce results – whether people like it or not.
You understand things that most people who can’t get a business going don’t. That having a solid product or service is a MUST. And a solid product or service DOES NOT guarantee success.
You’re going to understand the importance of these next 3 requirements to expand your business.
1. Fall In Love With Your Customers
All companies are fighting over the same pool of customers.
Most large companies with massive budgets go after larger clients who are only willing to deal with large firms.
Now, as a smaller business owner you aren’t able to compete head on with a large company in the same space. No coffee shop owner could directly take on Starbucks and expect to win.
Yet, you see other coffee companies continuing to pop up everyday and do well in their market.
They fall in love with their customers.
When you do this, you’re almost guaranteed success.
For example, a coaching company I worked with in Portland came to us because they were having a hard time acquiring clients. They were directly working on competing with the largest coaching company in the world.
It was an impossible game.
Now, if you’re like them when I asked them whom they could help they said EVERYONE.
I agree with them. They could help any business.
The PROBLEM is very few businesses knew that they could help THEM.
Many companies fail to achieve exponential growth because they sell to the wrong audience.
You need much more than a demographic and a basic psychographic profile. You need to know what failures they’ve had, why they failed, why they think they failed, and what they believe is next.
I challenged them to get to know their customers. REALLY get to know them. We went through a few exercises and they were able to increase their closing rate 600% without increasing their marketing budget.
I’ll share with you those changes in just a minute.
The next two points are how to make everything work after you really understand your customer.
2. Create Relatedness Throughout The Process
Question: Is there anything more annoying that talking to someone who you know thinks they are better than you?
If you’re like me, you probably want to punch them.
What is happening is there is no relatedness in the sales process.
Without relatedness, sales don’t happen.
You can’t fake this one either.
I’m pretty famous for telling people if they don’t care about, are unable to empathize and relate to their customer (see point #1) then they deserve to go out of business.
If you’re not able to relate and respect their struggles… and I mean truly relate then you shouldn’t be selling to them.
This is a LAW OF BUSINESS.
The good news is, that most of your competitors have not learned this process and struggle to find clients.
The breakdown isn’t solved by some great closing tactic or some hard close that takes away someone’s dignity.
The answer is to develop relatedness throughout the process and they will ASK you to buy.
Early on when I was training on being a high performance consultant we had a rule that we could never talk about money or make a sell UNTIL the prospect brought it up.
I tested all the sales tactics in the world, and nothing worked so well as to develop relatedness throughout the conversation.
It takes more expertise, though it is the only way to guarantee long term success of your company.
3. Help them gain clarity on the solution THEY CAN SEE.
This is really more of a product of doing strategies 1 and 2 well. When you fall in love with your customer and develop relatedness you’re going to know exactly what solution they can see.
In a simple solution, it’s very easy to have exact clarity on the deliverables and the result.
If the solution is more complex, this is more difficult.
To master creating clarity you need to have concrete understanding on the WHY.
Some sales processes are very complex and your prospect won’t really be able to fully understand what they are buying.
What must be fully understood is the WHY for working hard. This is especially true for any “intangible solutions” such has transformational coaching/consulting.
Just to repeat, the solution has to be what THEY can see.
Not what you believe they can see.
These concepts are absolute GAME CHANGERS for people who learn to implement them.
The good news is that most of your competition is terrible about them.
That makes it much easier for you to win.
If you’d like help on how to implement these strategies in your business, fill out an application. I’d love to have a conversation with you