There Is No Magic Formula to Sell More Loans

You can improve your sales production with two simple steps. If only it were that easy. There’s no magic formula to success in selling, but rather, a combination of many techniques and traits.

As with many of the people I coach in sales, I often hear sales people justify why they can’t miss being successful—they are a “people person.” Yet, every time I solicit these individuals to describe exactly what that means I get a variety of different answers.

Does that mean you like “people” so sales success will naturally follow? Does that mean that you are comfortable in the presence of people, which will more than likely result in successful selling? Or possibly, people always like you because you’re affable and accommodating?

First on the agenda for these wayward souls is to recognize the difference between people and prospects. The distinction between the two is not a question of semantics; it’s often the difference between making a sale and having a worthless, albeit pleasant, conversation that won’t produce the desired sales goal. All of which is just one small part of Selling 101.

Selling is a discipline and an art that needs to be learned, practiced, monitored for results and constantly improved upon. More importantly, there’s no quick approach available to ensure success, certainly not two simple steps.

There are many nuances to the selling process, all of which play an integral part for a successful outcome. For those of you out there that like your information in small, simple doses I’ve come up with a gross oversimplification of the selling process, one that consists of three easy steps.

First, identify someone who is interested in your product, service and/or opportunity. (You see this is probably easier than you expected.) Next, convince those interested, that you are the one who can accomplish providing the product, service and/or opportunity. (This is getting easier as we go along.) Last, ensure that the transaction closes and funds.

Here I go again, becoming the bearer of bad news. Each of these three steps requires significant training, learning, practice, monitoring and ongoing revisions to the overall process. In theory, these steps are truly the major factors that an effective sales person needs to become proficient in, but as stated previously, it requires considerable effort to become proficient in each.

Each of these steps stated above also requires expertise just to the first step. One such activity is acquiring time management skills without which, a sales person’s productivity will be seriously compromised.

Then there’s the matter of establishing comprehensive record-keeping systems, which will help in organizational skills and customer relationship management. In addition, sales people need to understand and learn the value, and effectiveness, of scripted presentations, the art of extracting information from prospects, prequalifying prospects, handling objections, closing techniques—just to mention a few disciplines required to be an effective sales person. Again, what’s being discussed is just the tip of the proverbial selling iceberg.

Saving the best for last, once the necessary skills and traits are identified, the sales person’s job has just begun. What is the best resource to assist in the learning process? Where do you get started? Who can help in the training required to master the process of selling?

More importantly, what are the pitfalls involved once the sales person has recognized the value of seeking assistance? I could fill several pages addressing all the information I can share on these subjects.

Briefly, few, if any, skills can be acquired by reading articles such as this. Remember, there are no shortcuts. The best advice I can give is to seek help from a “qualified” sales coach/trainer/consultant. By “qualified” I’m referring to someone who has actually been a successful sales person himself or herself. That’s only one part of the equation; has this person developed formal training programs and how long have they been showing others how to succeed in sales.

This advice for training and learning is not relegated to new entrants into the world of selling. Experienced sales people would benefit greatly by going back to the drawing board and reviewing the basics. It’s never too late to sharpen selling skills with the help of a “qualified” sales coach/trainer/consultant—not to mention the cost effectiveness of outside assistance.

Stephen Greenberg is the founder and CEO of Synergistic Associates Inc., a national sales training and coaching organization. For a free consultation, or any questions, Steve can be contacted at steveg@synergisticassoc.com or 954-757-6585.