Do you find it easy to talk about money during the sales conversation with a client? Or, do you struggle to bring up the topic of money, because you worry about hearing those sales objections?
One thing that I have found in common with 7 and 8 figure entrepreneurs is that they are comfortable talking about money. They never worry about whether someone is going to reject their sales proposal.
They’ve figured out how to overcome sales objections, and what it takes to turn a NO into a YES. They know how to find money, whether it be a loan, a credit card, or their own savings.
When it comes to business, they are ready to have those tough conversations!
For me, FITzee Foods was a great place to practice having hard conversations about money. It seemed that everything required money: getting new retail locations, the kitchens and the buildouts, payroll to cover the staff salaries, travelling for meetings with the folks at the Vitamin Shoppe – and I haven’t even mentioned the cost of food yet!
I had to be very comfortable talking to my investors about money, and asking for a lot of it before we saw any results. And, I had to be willing to put myself out there, even if I might experience sales objections.
Emily Williams, a guest on the Success Unfiltered Podcast, found that she kept hearing NO to her high-level coaching program offer when she would meet with clients. When she changed how she talked about money while interviewing people for her program, she found that they were able to get to the root of the rejection to the cost, so that she could serve those in her coaching program even more effectively!
So what happens when you start talking about money, and how does it impact your results with getting new clients in your business?
Money Says YES
Have you ever thought about having a high-level offer?
If you’re a coach, or service provider, you should have a BIG offer. That offer allows you to serve a few clients at your very best. You’ll spend a lot of time with those clients, but you’ll be able to help them grow their business.
My high level offer is my sales coaching program with accountants. I spend time mentoring them, helping them learn how to overcome sales objections so that they can work fewer hours and make more money!
As a coach, your high level offering may be a coaching program intended to help them reach the next level in their business.
These types of programs are a big ask, and one of the most common reasons that make people say NO is money – or the fear of not being able to come up with money!
Emily discovered this when she started her coaching programs. People kept saying NO. She realized that she quickly had to learn how to have these money conversations with ease.
When you know what you want, and are relentless in pursuing it, you don’t always see money as a problem. Emily knew what she wanted, and had thousands of dollars in credit card debt, because she knew that when she did these programs for her clients, she would be able to make the money back…and she did!
But not everyone is at that point in their business. Fear of not having enough money, of not being able to make back the amount they have invested in their business: these are all HUGE fears for many people!
When people listen to their money fears, they can often say NO!
Instead of looking at the dollar amount due as a challenge that can be overcome, some entrepreneurs look at the high price point of entry as a roadblock.
Overcome Sales Objections By Learning from Them
Ever hear a NO to your higher level offer, even when YOU KNOW that it’s going to do amazing things for your client?
As I work with accountants all the time to help build their top line revenue so they can work less and earn more, sometimes I hear people say NO.
That NO could possibly hold them back! I know that my program could help change their business – or even their life.
Instead of simply accepting that NO, it’s helpful to learn how to ask why they may have said NO, so that you know precisely where that NO came from.
I’ve heard NO for countless reasons:
- NO money
- NO time
- NO interest
When you really study those NO’s, you can often find that they come from a place of fear.
A fear that if they invest money, they will not get it back. A fear that if they spend money, it won’t be worth their time, or they won’t be able to invest their time. Or perhaps, even, they have NO interest in reaching the next level in business, and they are content to stay where they are.
When you learn how to read between the lines and learn what the NO you hear actually means, you’re able to understand if these grievances with money, are something you can and should overcome.
Instead of Being Pushy, Serve!
Sales gets a bad rap because people think that it is all about pushing someone else to spend their money, often on a product or service that they don’t need.
Royal family, we know that’s not true!
Sales is about serving people on a higher level. Sales happens when we find a way to serve, and perfectly identify the kind of person who will benefit from that.
The money helps us to vet and spend our time strategically – there are not enough hours in the day to help every single person that needs help!
So instead of coming from a position of selling, when talking about money, make sure that you are focused on service.
What will that person get in exchange for the money?
What financial results could that person in your coaching program expect?
What would your Instagram engagement services help them achieve in their business?
What new connections could an investor expect when they choose to invest in you and your business?
These questions are so much bigger than money! But at the end of the day, the answers do come down to money. If they won’t invest in your coaching program, or your services, or your business, they won’t see any type of return! And, you’ll never be able to overcome their sales objections!
Learning to become comfortable with a very uncomfortable topic for many entrepreneurs (money) will help you overcome objections, and help your clients and connections to reach the next level in their business.
Have you learned to be comfortable talking about money? What are some ways that you started to become more comfortable talking about money, and how has that ability impacted your business? Tell us in the comments!