Clients Say, "I need to do some research" And You Say, "..."

Summary

In this conversation, Steven discusses a joint venture (J.V.) opportunity with a hesitant partner who wants to do more research before committing. The mentor helps Steven navigate the situation by teaching him how to dig deeper into the prospect's true concerns, which likely stem from trust and fear of making a mistake. Through role-playing, the mentor demonstrates how to ask the right questions and provide reassurance by offering testimonials, refund policies, and partner references. This strategy aims to build trust and encourage the prospect to move forward confidently.

Takeaways

• 💬 Prospects often say they need more research, but it's usually about trust.
• 🛑 Simply saying 'trust me' can push prospects away rather than reassure them.
• 🧐 The real issue behind 'I need to do more research' is often fear of making a mistake.
• 🔍 Role-playing helps uncover deeper concerns, like a prospect's hesitation about audience fit.
• 🤝 Getting a commitment during a conversation can help determine if the prospect is serious.
• 📝 Probing deeper by asking what specific information the prospect needs can move things forward.
• 💡 Offering reassurance through testimonials, refund policies, or references builds trust.
• 👍 Testing with a smaller group can help alleviate the prospect's concerns without overwhelming them.
• 🎯 Focus on addressing the real issue, not just taking their initial words at face value.
• 📞 Closing effectively means addressing concerns directly and giving the prospect all the info they need.

Q & A

What was the main issue the J.V. partner had during the conversation?

The J.V. partner expressed hesitation and wanted to conduct more research before moving forward. This was likely due to a lack of trust or fear of making a mistake.

How did Steven try to reassure the J.V. partner?

Steven tried to reassure the J.V. partner by emphasizing his experience and saying, 'Trust me on this one,' mentioning that he had done similar joint ventures in the past.

Why did the conversation strategy Steven used possibly push the J.V. partner away?

By insisting 'Trust me' and overemphasizing past successes, Steven may have inadvertently pushed the J.V. partner away because it can sound like he's compensating for a lack of trustworthiness.

What alternative approach was suggested for handling objections like this?

The alternative approach suggested was to ask the J.V. partner directly what would be needed to move forward and to probe deeper by asking questions about what exactly the partner is concerned about, instead of simply reassuring them.

What underlying concern was revealed about the J.V. partner’s hesitation?

The underlying concern was that the J.V. partner was worried about how his audience would react to the venture, fearing it might not be well-received and could damage his relationship with them.

How can Steven gain a commitment from the J.V. partner during the call?

Steven can gain a commitment by getting the J.V. partner to confirm what will happen if they are satisfied after doing their research and asking directly what it would take for them to move forward today.

What strategy was proposed for testing the J.V. with the partner's audience?

A strategy of running a smaller test was proposed, such as only sending one email or doing one video, rather than targeting the entire audience at once. This approach would allow the partner to gauge the audience's reaction without taking a big risk.

What kind of proof did the J.V. partner request to feel more comfortable moving forward?

The J.V. partner requested testimonials from previous clients and examples of successful students who had benefited from the partnership. They also wanted to know about the refund policy to ensure their audience would be protected.

How should Steven handle the partner’s request for more research or information?

Steven should offer to provide the exact information the partner needs, such as testimonials, references from previous partners, or policy details, rather than leaving the partner to do their own research.

What is the key takeaway for handling objections in J.V. negotiations according to the script?

The key takeaway is to lead the conversation by asking targeted questions that reveal the true concerns of the prospect, rather than taking their surface objections at face value. By addressing the core issues directly, a commitment is more likely.