Put on your Finest LACE

The recession makes us all evaluate what we do and review the success or not of our actions.  Because I believe in trained business people are successful business people training is important to me.  It is a great way of honing your skills, because knowledge is king if for no other reason that that.  So I read through some sales manuals to perk up my own selling skills. 

It was there I came across an old favourite objection handling device, LACE.  It’s funny how much we read and then forget, or let good techniques fall by the wayside.

Objections happen. If you perform the sales or persuasion process well, you will succeed in seriously reducing the number of objections, but they may still happen.

Objections can be transformed into an opportunity. For example, you can increase your understanding of the other person's circumstance and to get closer to them, building a more trusting relationship.

Here is a simple mnemonic to help you LACE

L=Listen
Before you can act on the objection, you need to understand properly, not only the objection but also the thought and emotion behind it.

Find the objection

The first rule of objection handling is to listen to it.  Ask questions that get the background and detail of the objection. Listen again, not only to the objection but to the emotion behind it. Read between the lines.

The objection may well be a cover for the real objection. Probe for more detail by using the, 'what else' and 'how come' questions.

Find remaining objections

Find out whether there are any other objections. Ask 'Is there anything else'. Tip the bucket. This can cause you more work now and it may seem that it is better to let sleeping dogs lie. But if you do not do so, then when you get towards what you hope is closure, they may easily pop up to frustrate you once again.

A=Accept
Once you have discovered the objection, the next stage is to acknowledge not only the objection but the person..

Accept the person

Accept that they have a right to object., and accept that you have not fully understood them.

You do not do this by saying 'I accept you' or anything like this. The simplest way is through your attitude. Objecting can be a scary act, and people can fear your reaction. By not reacting negatively, by accepting the objection, you also accept the person.

By accepting the person, you build both their trust and their sense of identity with you. You also set up a exchange dynamic where they feel a sense of obligation to repay your acceptance.

Accept the objection

Accepting the objection means understanding how it is reasonable, at least from their current viewpoint for them to object to what you may believe is an excellent offer.
It also means accepting the work that addressing the objection will require of you. Objections can be frustrating and if you object to the objection, you will have a mutual stalemate.

C=Commit
Now it is time to get serious. With the increased understanding and trust, you have an ideal opportunity for a trial close.

Get their commitment

Get a commitment from them such that if you can satisfactorily address their objections, they will agree with you and make the purchase.

This is also a good method of identifying further objections. If they say no, then loop back and elicit these. Eventually, they will run out of objections. If you can address these, it's in the bag.

Make your commitment

This is also the point where you may well be making a commitment to them, to resolve their objection. When you commit to this course of action you may have to negotiate or in some cases call in favours.

The decision you have here, is 'Is it worth it?' Persuasion/Negotiation is often an exchange, and you always at liberty to back out.

E=Explicit action

Now it is time to address the objections, to take explicit action on the commitments made.
There are two types of objection: real ones and accidental ones. Accidental objections are where the objection is due to a misunderstanding. Misunderstandings are usually easy to address, with an apology and an explanation.

Real objections take work, but once resolved, you've got the sale!

Persuade your way through

Persuading your way through an objection, means you’re working to change the way they view.. You can wear them down such that they no longer view the objection as being worth pursuing. You can also change the way they view them more positively such that they have a light bulb experience so the objection is no longer important.

Concede your way through

You can also concede your way through, giving in and effectively buying their commitment. If they object to the price, you can always lower it. If they don't want it now, you can come back next week.

Concession can be both a useful approach, especially if you are in a hurry. If you give them an inch, then they may want to take a mile. But this is not necessarily so, and a prepared concession strategy can pay dividends.



Thats Lace now I’m now going to revisit my sales techniques especially objection handling techniques.

Paul Johnstone is the founder of

The Paradigm Shakers

Providers of Thought Provoking Training

Delivered by Subject Matter Experts

Check out the free speaking tips at The Paradigm Shakres

http://www.paradigmshakers.co.uk/

©Paul Johnstone; The Paradigm Shakers

P.S I always appreciate feed back and comments

Your own Flexible Friend

There is a certainty that the ability to be flexible in business is one that will stand you in good stead when times get hard.  This is one of those theories in business that always seems easier to say than to do.  Be fair if you are a tradesman what else can you do?  

You are a hypnotherapist what’s next?  You keep peoples books how do you become more flexible?

In reality we can all be flexible.  Think about the way we service customers for a moment.  Can we work at different times?   

Would it help if you can price in a more user friendly format?  In fact ere are all sorts of ways we can introduce flexibility into our business. 

In a recent piece by Amy Gallo she proposes it is vital that your business plans are kept flexible so you have the best possible chances of success.  Her main point is that business planning is often out of date as soon as it is written.   

This is also cited as a contributing fact of business failure (4 out of 5 new business fail in the first 5 years).

Check out the article and see how you stack up.

http://tinyurl.com/2cvz564

Pop back for more business and knowledge tips

To more success in Business

©Paul Johnstone & The Paradigm Shakers

Confidence is Key to your success

Confidence is important and fragile.  Ask any football or rugby player how easy it is to loose confidence in a game.  It’s a fragile commodity, and one you have to manage.

When presenting confidence is something we all need.  Our normal preparation helps as we concentrate on the message.  And of course practice helps a lot.

Here are a couple of tips to help you present with confidence

·    Know your subject, knowledge is king
·    Relax, knowing your subject helps a lot
·    Breathing techniques a great way to overcome nerves
·    Preparation is your best friend
·    Enthusiasm for the subject

The lady in this vidio has confidence in abundance - but she lets that get in the way of her very personal message. She has so much to say but lets other things take your mind away from her message   http://www.youtube.com/watch?v=2S_xT1_Lr3k 

To your sucess in Business

Paul

www.Paradigmshakers.co.uk/ 

It’s all in the application.

You all know a ton of motivational and business sayings.  Yes you do.  Here’s the issue we all know these great things but it’s how we apply them to our business that sets us apart from the also ran’s.

Here are some of my favourite sayings that I know you can apply to your business,(with just a little thought). Check them out and see which ones are appropriate for your business.

"One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary man."            -- Elbert Hubbard

"We must open the doors of opportunity. But we must also equip our people to walk through those doors."        -- Lyndon B. Johnson

"The road to happiness lies in two simple principles: find what it is that interests you and that you can do well, and when you find it, put your whole soul into it ---every bit of energy and ambition and natural ability you have."
--- John D. Rockefeller III

"Champions know that their success is inevitable and that the best way to forecast the future is not to follow the benchmark but to create it." Warren Giffin

“Practice does not make perfect. Only perfect practice makes perfect” Vince Lombardi

Some unattributed quotations
Success: We cannot direct the wind, but we can adjust the sails.
Risk: You cannot discover new oceans unless you have the courage to lose sight of the shore.
Imagination: A mind stretched by new ideas never regains its original dimensions.
Opportunity: You'll always miss 100% of the shots you don't take.
Effort: Life does not require us to be the biggest or the best. It only asks that we try.
Teamwork: There is no exercise better for the heart than reaching out and lifting people up.
And Teamwork is the fuel that allows common people to achieve uncommon results.
Courage: In the end the only people who fail are those who do not try.
Excellence: Some succeed because they are destined to. Others succeed because they are determined to. (which are you?)
Attitude: If it is to be, it is up to me. and "Your attitude shall determine your altitude."


Oh by the way.  How many legs does the Elephant have?


To your success in Business

Paul Johnstone

www.paradigmshakers.co.uk/