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Art Of Prospecting, 5 Keys To Sales Mastery

by LookAhead
14 replies
I was recently searching for some selling techniques, cold calling tips and closing deals, and I found this interesting video. So I decided to share it with you guys:

Jordan Belfort - Art Of Prospecting, 5 Keys To Sales Mastery - YouTube
#art #keys #mastery #prospecting #sales
  • Profile picture of the author Jason Kanigan
    45 minutes for an "introduction", huh.

    The Action Threshold idea is an interesting highlight.

    The 'panning for gold' concept is a well-known one.

    The main issue people have with prospecting is that they're trying to sell BEFORE they qualify! If you get on the phone and start pitching the first person you encounter, you'll have a rough time. Will you make sales? Sure, if you keep doing it. But you'll run yourself through the grinder doing it. Better and less wear-and-tear on you to qualify first.

    Note what he says: You do not want to present to people who do not want or need, or cannot afford, your product.

    There's another missing factor: personality fit. Need & budget are 2 of the 3 necessary parts of Fit; being able to work with them is the third.

    Note the head trash he gets into as well...in both the mind of the seller and the buyer.

    And he doesn't have the worst handwriting in the world--mine is worse, so bad I get called "Doctor".

    Now about his 'first 4 seconds requirements':

    * Enthusiasm - nope. Enthusiasm, false enthusiasm, is your enemy. It's a turn-off. You DO want to be 'up', feeling a 10, when you call, but not exclaiming, "HI, HOW ARE YOU TODAY?"

    * Sharp as a tack - speaking to your prospect's situation, and typical problems you solve for prospects like them, will instantly establish your credibility.

    * Figure of authority - same as above...I don't see these two things as any different.

    Jordan does talk about in-person selling, which I appreciate, and the judgements people make from their perception of your appearance. A banker once told a young Dan Kennedy, "You can't be a president! You're not wearing a tie!"

    He is right about prospects wanting to get back in control...and that's why speaking to their situation is so powerful.

    Was this worth watching? Yes. It is a New York style of selling, and not what I teach, but it's got some good stuff in it.
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    • Profile picture of the author jamesfreddyc
      Originally Posted by Jason Kanigan View Post

      If you get on the phone and start pitching the first person you encounter, you'll have a rough time.
      What if ultimately this person is the end-user of my product/service? What are the chances that they might be the best to advocate on behalf of me?

      For example, if my product is for office staff to use, how likely is it they'd be the ones to pitch the need/necessity to the decision maker/check-writer?
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      • Profile picture of the author Jason Kanigan
        Originally Posted by jamesfreddyc View Post

        What if ultimately this person is the end-user of my product/service? What are the chances that they might be the best to advocate on behalf of me?

        For example, if my product is for office staff to use, how likely is it they'd be the ones to pitch the need/necessity to the decision maker/check-writer?
        You should know the answer to this one already.

        QUALIFY First.

        Sell later.

        And it's always easier to be directed down by the boss than push up from the bottom.
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        • Profile picture of the author jamesfreddyc
          Originally Posted by Jason Kanigan View Post

          You should know the answer to this one already.

          QUALIFY First.

          Sell later.
          yes, yes, yes....

          Originally Posted by Jason Kanigan View Post

          And it's always easier to be directed down by the boss than push up from the bottom.
          Good point.
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          • Profile picture of the author Jason Kanigan
            Originally Posted by jamesfreddyc View Post

            yes, yes, yes....



            Good point.
            A little example...

            At the Inc. Top 1000 franchise head office I worked for, we had new franchisees come in for a week of training when they opened their location.

            The host--an extremely competent administrator who ran the training sessions--would have to set up this stupid old-fashioned welcome sign, manually picking out and pushing in individual white letters to spell out the names on a black background.

            A powerpoint slide sent to a flatscreen would have been much nicer, more professional and more efficient.

            She really wanted that flatscreen. And to chuck that stupid manual sign into the trash. You could have pitched her all day and she would have been delighted.

            But her boss? Nope. No interest. Why should we change what's working? Why should we invest $300 or $1000 or whatever in a flatscreen when we have this thing that's working already?

            Talk to people who have the power to buy, and qualify them first. You can get buy-in from end users later.
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  • Profile picture of the author misterme
    He taught his regular but motivated people to do this and they made themselves and him tons of money. But keep in mind this was a very high energy, aggressive cold to lukewarm calling they did, and it was hinged on calling people with the money to burn plus the right amount of greed.
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    • Profile picture of the author Claude Whitacre
      Originally Posted by misterme View Post

      He taught his regular but motivated people to do this and they made themselves and him tons of money. But keep in mind this was a very high energy, aggressive cold to lukewarm calling they did, and it was hinged on calling people with the money to burn plus the right amount of greed.
      I watched The Wolf Of Wall Street, read Belfort's first book, and have studied his Straight Line Selling System.

      I would love to see the original script that he gave his guys to sell with.

      I'll bet we would be dissappointed. My guess is that you take an OK script, and call with conviction, in volume, and you just make money.

      You make 200-300 calls a day, and you make money. "High energy" & "aggressive" probably sum up most of the secrets.

      To me, he sounds like Ratso Susso from Midnight Cowboy. He sounds like someone my daughter would date, just to spite me.

      But you can't deny his results. His training is very good too.

      But, I'd still love to see that script.
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      • Profile picture of the author socialentry
        Originally Posted by Claude Whitacre View Post

        I would love to see the original script that he gave his guys to sell with.

        I'll bet we would be dissappointed. My guess is that you take an OK script, and call with conviction, in volume, and you just make money.
        Belfort said in one of his interviews he took the original script from Lehman Brothers, as did everyone in the retail brokerage industry at the time.

        The book backstage Wallstreet actually has a copy of it(or at least one of its variant).
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      • Profile picture of the author mak25
        Originally Posted by Claude Whitacre View Post


        To me, he sounds like Ratso Susso from Midnight Cowboy
        That would be Ratso Rizzo Claude.
        And a great movie at that.
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      • Profile picture of the author misterme
        Originally Posted by Jason Kanigan View Post

        The Action Threshold idea is an interesting highlight.
        That's what I was talking about in some other thread when I wrote that there's a point where the prospect mentally takes ownership of the product / service, like a switch that's been flipped. It happens in an instance.

        Originally Posted by Claude Whitacre View Post

        I watched The Wolf Of Wall Street
        And wasn't it something to see reenacted, Belfort pitching in the long island boiler room? DiCaprio obviously coached by Belfort himself as to tonality and using the very same words. It was powerful. And should be a training film.
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        • Profile picture of the author Claude Whitacre
          Originally Posted by misterme View Post

          That's what I was talking about in some other thread when I wrote that there's a point where the prospect mentally takes ownership of the product / service, like a switch that's been flipped. It happens in an instance.



          And wasn't it something to see reenacted, Belfort pitching in the long island boiler room? DiCaprio obviously coached by Belfort himself as to tonality and using the very same words. It was powerful. And should be a training film.

          I agree. Powerful stuff. Here's an interview Michael Senoff had with Belfort.

          http://www.hardtofindseminars.com/Tr..._Interview.pdf
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  • Profile picture of the author popstocks
    Banned
    I watched The Wolf Of Wall Street, read Belfort's first book, and have studied his Straight Line Selling System.

    I would love to see the original script that he gave his guys to sell with.

    Most of it trial and error. He mastered the buttons to press.

    "oh come on...I made you $$XXX on the last trade, trust me on this one"

    " Are you on this or not? It's closing soon"

    " oh come on, if you don't come in i am never going to let you into another"

    "when you make $1m+ on this trade be sure to send me a bonus you lucky s.o.b."
    "Iam in everything on this one as it's a guarantee"

    you see whenever you promise easy , guaranteed money to people they can'thelp them-selves. Their buttons have been pressed.

    You get good at what you practice. (although for the wrong resons)
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