Below is an exerpt from my book “Billionaire in Training.” This is a sample of the teachings that I gave at Prairie Meadows on Wednesday, October 24.
So often I meet people who think they’re in business for themselves, and yet by my definition, they’re not. Let me explain. read more
Information: At this first stage being information the entrepreneur needs education in his choice area or interest. “Education” is a broad term that can have many meanings, but it is generally defined as the process of learning and acquiring information.
Entrepreneurship is a system of being self-employ with no breakdown as being condition with the problem, situation or challenges of unemployment in a given system. An entrepreneur is an agent of change.
Every business owner knows how crucial sales are to keeping a company going. Without paying customers, there’s no money coming in, which means no profits to help the business grow. But convincing people to buy something isn’t always an easy task, and many entrepreneurs still struggle with selling.
Bob Circosta, the original host of the Home Shopping Network and television’s “Billion Dollar Man,” knows a lot about what it takes to close a sale. It’s not about giving a rundown of the facts and features of your product — it’s about communicating the ways in which it can help the buyer, he said.
“Stop thinking of it just from the perspective of what you have,” Circosta told Business News Daily. “Think about what it will do for others. You need to take your elevator pitch and transcend it … to other people’s perspective [and] solve their problems.”
In his new book “Life’s a Pitch” (Koehler Books, 2014), Circosta outlined five key components to any successful sales presentation. [5 Common Sales Mistakes to Avoid]
1. A“grabber.” This is a mutual point of agreement where you connect with the buyer. This is usually established in a face-to-face conversation (e.g., the person nods in agreement when you speak to them), but if you’re not able to see the person, you need to start off with the mind-set that he or she agrees with what you’re saying.
2. A solution to a problem. Consumers purchase products that they believe will solve a problem they have. Your product may be the perfect solution, but they won’t know that unless you explain the problem and how you can solve it. Circosta advised stating the problem you solve and talking about it as much as — if not more than — the solution.
3. A point of difference. Explain to the buyer what’s different about your product, and why it occupies a unique space in the market.
4. WSGAT™. Circosta’s trademarked acronym — which stands for “What’s So Great About That?” — is all about demonstrating the benefits of using your product. When discussing your product’s features, you can’t just spout facts. You need to understand why a buyer should care about that feature, and how it contributes to solving the problem you outlined.
5. A call to action. This fifth and final step is perhaps the most important of all. You have to ask someone to take action at the end of a sales presentation, Circosta said. If you don’t ask them for the sale, they probably won’t go through with it.
Circosta reminded businesses to always approach sales from a helping perspective. Instead of putting pressure on yourself to make the sale, just focus on what the product means to the buyer.
“If [sales reps] focus on how to communicate effectively and help the person, it takes pressure off themselves and puts the focus and energy where it needs to be,” Circosta said. “A superior salesperson inspires the buyer to feel the benefits of what they have.”