RECESSION IS APPROACHING…..ARE YOU PREPARED?

Tough economies can be ruthless to an unprepared salesperson. He tends to be meek and timid while approaching a prospect and seems to mumble: “I’m just bugging these people. They are busy. I should leave them alone. I’m actually not cut out for sales.”

In good times, things are rosy and people are willing to spend money and are prepared to make purchases. Selling seems to be so easy. Come recession, when the economy gets tight, uncertain and contracted, selling becomes a nightmare for a few as there are more excuses, more competition, and more objections.

Salespeople, who have braced themselves for these tough times by honing up their skills, will look at this as an opportunity. You will be better placed against your competition as you are prepared with better solutions to your customer’s problems that answer their pain and thereby increase hope and demand.

How to operate in a tough economy?

• The time spent on panicking should be replaced by working smarter and utilizing all your sales tools.
• Be proactive and efficient in everything you do- your meetings, prospecting efforts and even networking.
• Be prepared with a Plan B.
• ROI doesn’t stand for running out of income. It stands for return on investment. Create a reason for your customers to buy and then appreciate their decision to invest in you.
• This is the time when a customer wants to feel heard and listened to. They don’t want you to tell them what they need.

Are you stopping your sale?

Your confidence and drive are determined in your voice and posture. If you are feeling negative or unsure, your attitude, tone and gestures are surely going to be transferred to your prospect. 

Here are some reasons why you stop your sale:

1. Lack of selling skills: As discussed in one of my previous blogs, salespeople are being hired and thrown into the market without even basic sales training. Such untrained salespeople prove to be fatal to the organization.

These untrained salespeople require sharpening their skills in any way possible. Knowing about your products, services, and industry is a must. One must take inventory of your weak areas and find mentors to help you grow and develop. You may find mentors in your superiors, friends, colleagues, sales coaches, trainers, workshops or even Google. There is nothing holding you back except yourself.

2. Self-Image: Never-ever approach your prospects timidly and tentatively. You should be an expert in your field, a bearer of good news and a problem solver. This naturally would come by practice.

3. Negative Self-Talk: Negative thinkers say negative things to themselves all day long:

“I do not belong to sales.”

“I sound like a broken record. Nobody wants to hear about this.”

These kind of talks holds you down, and the negativity is automatically and instantly transmitted to your prospects. Substitute these negative thoughts with the positive ones, such as: 

“It’s their job to learn about my solution. The only way to stimulate a bad economy is when somebody buys something.”

“My timing is perfect. He will enjoy my call.”

1. Fear of Rejection: How many times have we heard a salesperson telling his prospect- “You seem to be busy; I’ll come some other time.”

He instead seems to be saying-“I fear rejection, so I should get out.”

If you fear rejection, selling is the wrong profession for you. Do not let the fear of rejection wear down your motivation to sell.

In selling, you create your own economy rather than being a participant in what everyone else has agreed upon as the economy. Take a recession in your stride. It’s actually an opportunity.