Inner Game Of Selling !! Chapter One Summary !! The Psychology Of Selling
Summary
TLDRBrian Tracy's 'The Psychology of Selling' emphasizes the pivotal role of salespeople in driving business and economic growth. The book outlines the high earning potential and job security for skilled sales professionals, highlighting that success in sales is achievable through learning key skills such as effective communication, relationship building, and critical thinking. Tracy introduces the 80/20 rule, suggesting that top performers earn significantly more, and encourages readers to develop the characteristics of successful salespeople, such as resilience and a strong self-concept, to maximize their earning potential and overcome common obstacles in sales.
Takeaways
- 💼 **Sales as a Foundation**: Significant salespeople are fundamental to any business, driving progress and economic growth.
- 💰 **Financial Rewards**: Sales skills can lead to high income and job security, regardless of economic fluctuations.
- 🌟 **Rags to Riches**: Many successful salespeople start with minimal resources and overcome significant barriers to achieve financial success.
- 🛠️ **Skill Development**: Sales training develops versatile skills like time management, communication, and critical thinking that are applicable across various fields.
- 📊 **The 80/20 Rule**: A small percentage of top salespeople earn the majority of the income, highlighting the potential for high achievers in sales.
- 🚀 **Incremental Improvement**: Small improvements in key result areas can lead to significant differences in income and success in sales.
- 🏆 **Characteristics of Top Salespeople**: Certain learnable qualities distinguish top salespeople from average ones, including resilience and a strong work ethic.
- 🔍 **Unleashing Potential**: The average salesperson only utilizes a small fraction of their potential, implying significant room for growth.
- 💡 **Following Leaders**: Aspiring to be a top salesperson involves learning from and comparing oneself to the best in the field.
- 🔄 **Expanding Comfort Zones**: Increasing sales income involves pushing beyond one's comfort zone, both in terms of earnings and personal challenges.
- 🏋️♂️ **Persistence and Resilience**: The key to sales success is the ability to face and overcome fear of rejection and failure consistently.
Q & A
Why are salespeople considered fundamental in any business?
-Salespeople are considered fundamental because without deals, businesses cannot operate. They are the driving force behind the growth of a business and the economy, with a direct correlation between the level of sales and the prosperity of an industry or region.
How can sales skills lead to high income and job security?
-Sales skills can lead to high income and job security because there is a constant demand for top salespeople regardless of economic changes. Being proficient in sales can result in a significant salary and long-lasting employment stability.
What are the key skills for success in sales according to the script?
-The key skills for success in sales include organizing abilities, effective time management, relational skills, interpersonal communication, trust building, logical reasoning, presentations, client relationship management, and critical thinking.
What is the Pareto Principle in the context of sales?
-The Pareto Principle, also known as the 80/20 rule in sales, suggests that the top 20% of salespeople make 80% of the money, while the bottom 80% only make 20%. This highlights the importance of being in the top tier of sales professionals.
Why are many CEOs of Fortune 500 companies from sales backgrounds?
-Many CEOs of Fortune 500 companies come from sales backgrounds because sales is a field that teaches essential business skills and provides a deep understanding of customer needs and market dynamics, which are crucial for leading a company.
How can a small improvement in selling skills make a significant difference in income?
-A small improvement in selling skills, even just 3 or 4%, can give a salesperson the winning edge, potentially placing them in the top 20% or 10% of earners in their field.
What are the characteristics that separate top salespeople from average ones?
-Top salespeople are characterized by qualities such as strong work ethic, resilience, effective communication, and the ability to build trust. These qualities are not innate but can be learned and developed through practice.
How much of one's potential do average salespeople use, and why is it important to use more?
-It is estimated that the average salesperson uses only a small percentage, possibly around 10%, of their potential for effectiveness in selling. Utilizing more of one's potential can lead to higher sales and greater success in the field.
What does the script suggest about following leaders in the sales field?
-The script suggests that if the goal is to be in the top 10% of salespeople, one should identify and learn from those who are already successful in the field, rather than following average performers.
How does the script describe the average day of a salesperson?
-The script describes the average day of a salesperson as working roughly 1.5 hours, with the first sales call not made before 11:00 AM and the last call around 3:30 PM. It also notes that many sales calls end without the salesperson attempting to close even once.
What are the two significant mental deterrents to sales success mentioned in the script?
-The two significant mental deterrents to sales success mentioned are the fear of rejection and the fear of disappointment. These fears can prevent salespeople from performing at their best and closing deals.
Outlines
💼 The Importance and Rewards of a Sales Career
This paragraph emphasizes the critical role of salespeople in driving business growth and the economy. It outlines the potential for high income and job security in sales, highlighting that top salespeople are always in demand regardless of economic changes. The text also discusses the learnable skills that contribute to success in sales, such as time management, communication, and critical thinking. It introduces the 80/20 rule in sales, suggesting that a small percentage of salespeople earn the majority of the income, and encourages continuous improvement to reach the top. The characteristics of top salespeople are mentioned, including the idea that these traits are not innate but can be developed through practice. The paragraph concludes with advice on utilizing one's full potential and following successful sales leaders to achieve a high quality of life.
🚀 Overcoming Obstacles in Sales and the Typical Salesperson's Day
Paragraph 2 delves into the psychological aspects of sales, focusing on the need for mental fortitude to face daily challenges such as fear of rejection and disappointment. It suggests that overcoming these fears is akin to strengthening a muscle, leading to fearlessness and career success. The paragraph also identifies the fear of disappointment as a significant barrier to closing deals, both for salespeople and customers. It discusses the origins of this fear and its impact on performance. Furthermore, the text provides insights into the average salesperson's day, indicating that many sales representatives work for only about an hour and a half daily, with most calls made outside of peak productivity hours. It concludes with a critique of the common practice of not attempting to close deals during meetings, which often leads to missed opportunities and the need for follow-ups.
Mindmap
Keywords
💡Salesmen
💡Deals
💡Job Security
💡Sales Skills
💡Pareto Principle
💡Characteristics of Top Salespeople
💡Potential
💡Comfort Zone
💡Mental Fortitude
💡Obstacles to Sales Success
💡Salesperson's Average Day
Highlights
Significant salesmen are fundamental to any business, as without deals, organizations shut down.
Sales are directly linked to the progress of the local area and the whole country's economy.
High sales activity correlates with a more fruitful and beneficial industry or region.
Sales proficiency can lead to high income and job security, regardless of economic changes.
Top salesmen are always in demand, ensuring long-term career prospects.
Sales skills are versatile and can be applied across various industries and professions.
The 80/20 rule in selling: top 20% of salespeople make 80% of the money.
Many Fortune 500 CEOs have a sales background, indicating the importance of sales in career advancement.
Even a small improvement in selling skills can significantly impact income and success.
Top salespeople possess certain characteristics that are learnable through practice.
The average salesperson uses only a small percentage of their potential for effectiveness in selling.
To be in the top 10% of salespeople, follow the leaders and compare yourself to the top performers.
A high positive self-concept in selling, such as prospecting, leads to a full sales pipeline.
Expanding your comfort zone is necessary to increase sales income.
Mental fortitude, including strength and diligence, is key to overcoming fear and achieving sales success.
The fear of disappointment is a significant deterrent to both salespeople and customers.
Reducing the client's fear of disappointment is crucial for building trust and closing deals.
The average sales rep works about 1.5 hours per day, with the first sales call often not made until after 11:00 AM.
Many sales calls end without the sales rep attempting to close, showing a need for better closing techniques.
Transcripts
the psychology of selling by Brian Tracy
suy chapter one ingame of selling why to
start a career in sales one you are
significant salesmen are the most
fundamental individuals in any business
without deals the greatest what's more
most modern organizations shut down
deals are the flash module the motor of
free Venture there is an immediate
connection between the progress of the
deals local area and the progress of the
whole country the more energetic the
level of deals the more fruitful and
benefit icial is that industry or region
to high income and job security you can
be glad to be a deals proficient Your
Capacity to sell can give you a BigTime
salary and long- Lasting employer
stability regardless of the number of
changes that happen in the economy there
will constantly be a requirement for top
salesmen notwithstanding the number of
organizations and Ventures that become
out of date or simply leave business
great salesmen will constantly be
popular by becoming astounding in deals
you can achieve any monetary objective
you set for yourself self three
beginning from nothing one of the most
outstanding evidences of this is the
quantity of new workers who show up in
this country with minimal expenditure no
contacts no everyday schedule Foundation
restricted English abilities and each
and every other possible inconvenience
however some way or another in a couple
of years they have beaten each and every
trouble and have become Pioneers in
their field four you learn the skills
for Success at work preparing for deals
experts covers the advancement of basic
capacity that help you Sparkle all
through the working environment these
capacities principally have a place with
the class of delicate abilities that are
versatile adaptable and popular across
callings businesses and Deals positions
these deals abilities incorporate
arranging abilities using time
effectively relational abilities tuning
in person-to-person communication trust
building logical reasoning introductions
client relationship the board and
critical thinking five the 820th rule in
selling when I started selling someone
told told me about the parto principle
also known as the 820th rule he said the
top 20% of salespeople make 80% of the
money and the bottom 80% only make 20%
of the money hundreds of universities
now offer courses in professional
selling a great change from a few years
ago many young people are coming out of
college and immediately seeking
positions and sales with large companies
more CEOs of Fortune 500 companies have
come up through the ranks from sales
than from any other part of the company
Six dot become a little bit better in
selling you only have to be a little bit
better and different in each of the key
result areas of selling for it to
accumulate into an extraordinary
difference in income a small increment
of skill or ability just 3 or 4% can
give you the Winning Edge it can put you
in the top 20% and then the top 10%
seven characteristics of top salespeople
there are certain characteristics that
separate successful salespeople from
average salespeople these qualities have
been identified over the years through
interviews surveys and exhaustive
research we also know two things first
no one is born with these qualities
second all of these qualities are
learnable through practice you can
develop the characteristics that will
virtually guarantee an extraordinary
quality of life for yourself eight use
more of your potential the average
salesperson uses only a small percentage
of his potential for Effectiveness in
selling it is estimated that the average
person in general never uses more than
about 10% of his potential what this
means is that each person has at least
90% nine follow the leaders if your goal
is to be in the top 10% of salespeople
in your field the first thing you do is
find out who is already in the top 10%
instead of following the followers the
average performers in your business
follow the leaders compare yourself to
the top people remember no one is better
than you and no one is smarter than you
10 your self-concept in selling for
example in selling you have a
self-concept with regard to yourself and
prospecting if you have a high positive
self-concept then prospecting is no
problem for you you get up in the
morning eager to call on new people you
are competent and confident in the area
of prospecting so your sales pipeline is
always full you will begin pondering
working longer harder more brilliant
better to get your payback up into your
safe place when you get into your usual
range of famili ity you will unwind and
relax a profound moan of help 11 change
your comfort zone the only way you can
increase your sales income is by
expanding your comfort zone with regard
to the amount you earn some people have
a comfort zone of $50,000 a year at that
level they relax and Coast others have a
comfort zone of $100,000 a year that is
the level that they strive toward and
they only relax when they hit that
Target 12 never give up maybe the two
most Central characteristics for
progress and feels are strength
furthermore diligence it takes boldness
to get up every day and continually
confront the feelings of trepidation of
disappointment and dismissal it takes
determination to make want more a large
number of days disregarding proceeded
with troubles and dissatisfaction
however fortunately mental fortitude is
a propensity like a muscle the more you
practice boldness the more grounded you
become at last you arrive at the point
at which you are practically unafraid
from that point onward your profession
takes off like rocket 13 obstacles to
sales success there are two significant
deterrents to making and bringing any
deal to a close they are both mental
they are the anxiety toward
disappointment and the apprehension
about dismissal the apprehension about
disappointment is the greatest single
justification for disappointment in
grown-up life it isn't disappointment
itself yet the feeling of dread toward
disappointment the possibility of
disappointment the expectation of
disappointment that makes you freeze up
and perform at a lower level the feeling
of dread toward disappointment is a
profound psyche dread that we as a whole
Foster right off the bat throughout
everyday life as a rule is the
consequence of disastrous analysis from
one or the two Guardians when we are
youngsters on the off chance that your
folks reprimanded you consistently when
you were developing up you will
encounter this profoundly dug in
oblivious apprehension about
disappointment as an grownup basically
until you figure out how to dispose of
it 14 why clients don't buy the feeling
of dread toward disappointment in the
brain of the client or the possibility
is the one most prominent impediment to
purchasing each client has committed
incalculable purchasing errors he has
bought administrations that he later
found were overrated he has purchased
items that separated and that he was
unable to get fixed he has been sold
things that he didn't need couldn't
utilize and couldn't manage he has been
consumed so often in deals en counters
that he resembles a long followed feline
in a room loaded with armchairs this
anxiety toward disappointment and
disillusionment is the main
justification for why clients don't buy
thus perhaps of the main thing you can
do in the interaction of building trust
and believability is to decrease the
client's trepidation to the point where
he has no Delay about preceding your
proposition 15 the salesperson's average
day in a review at Colombia College a
couple of years prior they saw that as
the normal sales rep Works roughly 1 and
a half hours out of each day they
likewise found that by and large the
main deals call isn't made before 11:00
in the morning the last deals call is
normally made at around 3:30 in the
evening and the typical salesman stops
working not long after that he goes back
to the workplace or heads for home a
great many people go through a portion
of the early daytime getting ready
drinking espresso visiting with
Associates perusing the paper
rearranging their business cards and
writing the web then they go out and
settle on a deals decision with perfect
timing for lunch the subsequent deals
call isn't made until around 1:00 or 2:
p.m. after which lunch the subse quent
deals call isn't made until around 1:00
or 2 p.m. after which the typical sales
rep start slowing down for the afternoon
the aggregate sum of time enjoyed eye to
eye with clients works out to around an
hour and a half for each day that is the
normal half or above half are beneath
that normal the vast majority quit early
in a new report it was found that 48% of
all deals calls end without the sales
rep attempting to close even once the
sales rep meets with the possibility
discusses his item or Administration
shows him the compass data and amazes
him with motivations to purchase then at
that point when the prospect has been
totally wrecked with his appeal energy
and verbal deafness he takes a full
breath sits back and says indeed what do
you think this consequently sets off the
reaction indeed I might want to think it
over the possibility says he needs to
talk it over with his chief spouse
cousin sibling Uncle sister accomplice
top managerial staff investor bookkeeper
and whoever else he can imagine might
you at any point get back to me later
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