Hey there, /biz/.
I've recently gotten interested in sales. Becoming a person of influence and be able to talk people into buying or agreeing to a deal is exciting to me and jobs with commission seem like a step to breaking out of the wage slave cycle. It also seems, the more I learn and look into it, that to become successful in any business whatsoever you need to be a great salesman.
I'd like to ask you guys (the successful in the field and their own businesses) if you have any tips that you could pass on to me to become better at this. Books to read on influence, people to look up, tips and tricks to close deals, etc.
A quick background:
I will be starting a sales position for credit repair. No signing people up or doing anything on the computer, just receiving calls or making calls to leads and close the deal. After it has been closed, I transfer the person over to someone else to get them signed up and I get commission.
I figured it would be an easy way to get started since, in America, people don't know how to handle their finances and a huge majority have bad credit.
tl;dr Sales tips, tricks, and advice for a newbie
yeah dude that sounds like a terrible job.
You can probably make more going door to door selling knives.
At least look for a sales job that puts you in front of people. Selling behind a phone is for losers.
These anons can get fucked. I'll be on and free in an hour or so and help you design a pitch. I'm the timeshare salesman that frequents here.
FWIW, people with terrible credit are awesome prospects so long as the product isn't expensive. Their credit is awful because they buy fucking everything that's pitched to them.
Yeah, they're poor but somehow still have enough money to keep digging themselves deeper in the hole.
That's fine but I'm more interested in starting off with a product that is more solid to sell than knives.
I don't see your point about what's wrong with selling through calls but alright.
I've been through the building for a tour and it looks solid. Don't see your point.
Again, no one has made a point as to why it's a bad thing so your shit is disregarded. Come back when you've actually got something useful to say.
I'm looking forward to hearing what you know and any tips you can share.
The place has its own script but they allow you to go off script so long as you read certain lines for legality reasons.
From what I've learned so far, having a script is essential but I'm interested more in questions or patterns I can use to help boost the chances of closing a sale.
As I mentioned above, I chose this because A) I'm a complete beginner with sales and B) credit repair for people with horrible credit seems like an easier thing to pitch.
The leads these guys get are from dealerships, real estate businesses, and online so no cold calling. I'm hoping that makes things easier to do.
Bankfag here. If you git gud at this you can eventually branch out of this pleb job and get inside a credit recovery fund or bank. It is highly profitable since they buy a bunch of bad loans for a discount and make a shitload of money by helping people/companies pay (to them).
Sales is fundamental, yes, but the kind of sales that make you rich is selling ideas which are VERY different from selling a product
Hey Bankfag, could you go more in depth about that credit recovery fund? What kind of experience is needed and the like?
I'd like to branch out to higher paying stuff but aside from inexperience, which is why I started with this credit repair gig, I'm not entirely sure of what the best jobs that are highly profitable are. Googling comes up with things like real estate or any other broker type deal. Which I'm actually working on getting a real estate license at the moment to move up to selling homes.
I'm trying to get a start on turning my life around but don't have the right knowledge yet to properly guide myself.
Your input and comment is highly appreciated. Thanks
Look OP, selling stuff is extremely easy, if you just stick to a time tested formula that a senior manager of marketing once told me.
He compared selling stuff to fishing. You're the fisherman, the costumers are the fish, and you have to catch them. Basically, he only had two activities: propping up the bait and hiding the hook. If you have a product, say an airline you want to promote, you need to convince your costumers that your airline is comfortable, offers a lot of leg room and flies you to the highest number of destinations the fastest in the most comfortable way possible.
Also, very important, if they don't bite, you don't worry and move on to a better spot
Thanks for bit of wisdom. "Move on if they don't bite" is something that I keep hearing a lot and is something I'm trying to drill into my head as to not waste time with people that just don't want to buy.
On it, nigga. Thanks for the recommendation.
Another question for anyone that might know, what other jobs can you do that are sales related and have high commission?
Bankfag mentioned selling ideas instead of products. How would you start in that area?
Funds that buy "distressed" assets. Aka vulture funds like the ones who sunk Argentina in their crisis. (not really, those are funds specialized at fighting in court and fucking the company over debt)
Banks grants loans, it is their way of making money (more than ib or any shit like that). Loans must enter the bank balance sheet. Loans portfolio must have some degree of reserve related to the amount you expect to lose. The higher the risk, the more reserves you need. You also have to start writing them off at some point.
Writing them off is the same as saying to the world "I don't think I'll receive a cent on them" so any money they make on it is actually an unexpected recovery. It is much better to sell them for pennies rather than keeping them.
There are people specialized in buying large quantities of those bad loans for almost nothing and granting extended tenors, education or refinancing, things the original bank has no capacity to do to the necessary degree of attention. If you learn the job well and gets good at identifying the "good" buys or can make a strategy to recover a large amount of them you are set.
Just make sure you think of your clients/targets as a portfolio and not just individuals so you can make strategic decisions and leave grunt work to people like where you are now. It should be tackled as an investment, so think like an investor.
Every sales book ever written is garbage except for one: SPIN Selling by Neil Rackham.
This guy debunks the "always be closing" myth with hard data from thousands of sales calls.
Read it if you want to approach sales from a perspective that isn't rooted in pseudoscience.
The only way to learn sales is by selling.
Here's a big tip:
- Don't stop experimenting! Even if you finally start to get a rhytym, don't just go, "well oh this works I'll just keep doing it". Keep trying new shit, keep experimenting. Every person you talk to is a laboratory experiment to see what works and what doesn't, and what you can do differently.
For books I liked "never cold call again", and I hear Belforts stuff is good.
Hang out with people successful in sales. But dont try to copy them you have to figure out the technique that works for you.
Also dont be fake. Shit doesnt work. Be real as fuck. Thats what has worked for me. It shocks people and they like it.