Hey guys,

I thought it would be fun to have a random daily sales tip thread. Anyone can feel free and post here with whatever tips they think are valuable, important, or even just funny.

Here's a few to start:

TIP #1:

Understand your client's needs, rather than just prequalifying and asking for an app. I see so many sales people run through the usual prequal questions:

What is your monthly revenue?
What is your average ledger balance?
What does your credit, roughly, look like?

And, to be sure, these are important questions, but what about the KEY selling questions, like:

After I deposit these funds into your account, how much revenue can you generate with my money?
Why is this loan important for your business?
What will be the long-term impact of this financing for you personally?

These types of questions make the client SELL YOU on why they need the loan. Important stuff.


TIP #2:

When is the best time to get an app? It's right after getting an app. In that moment you are more confident, self-assured, and more likely to have the necessary enthusiasm to entice a merchant to send their documents to you. Instead of running around the office bragging about that $100K deal you brought in, go make more calls! That state of mind is crucial to sales success. "Success breeds success"


TIP #3:

Don't hem and haw!!! No "UHHH" or "MMMMMM" on the phone! You are a sophisticated professional... act like it! If you don't know what to say, remain silent rather than make these strange, nervous noises.


TIP #4:

Record your phone calls! (legally, of course)

Listen to your pitch and take notes on what you did poorly. Also pat yourself on the back for what you did well. Write down key lines that you ad-libbed that worked. Make a list of smart things that you said... then, even if you aren't smart, at least you can sound like it!