On Sales Leverage

Many companies and shops are open for business everyday and do not have a leverage product in their product mix. For example, a shop may have 10 products yielding 10% each. Say you’re selling scarves at $5 each, yielding a net profit of $2; in a day, you will need to sell 50 pieces to make $100 in profit (maybe you even have to deal with 50 customers!) Instead, you could identify 1 product yielding $50 in profit per transaction (like a suit or leather jacket), so in a day, you need to sell 2 products to lock in $100 in profit. Compare this to dealing with 30 to 50 customers selling low leverage products. Many companies struggle because they do not have leverage products, or if they do have them, they fail to promote them well. Look around at your business or shop, identify those high value leverage products (high profit density items) and market them well. Happy Selling!

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Spotlight Position: An Important Lesson in Sales

There’s a visual you always need to remember when you sell a product. It is a spotlight. The spotlight should be focused on the prospect  (the buyer), and not on you the seller. If you hear yourself saying: we have the best products, we outsell the competition, we, we, we.. then you should know you’re having the spotlight on you the seller. This is annoying to the buyer, the buyer wants the spotlight on her, ask her the questions to uncover her needs, then offer your solutions. Many sellers who receive solution-selling training continue to waste a lot of time leaving the spotlight on the seller. Make your buyer feel like a queen, and the best advice to the seller is to check your ego at the door as you walk into your meeting.

solution selling

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