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Many women entrepreneurs have agonizing difficulty ‘asking for the money’ when having a sales conversation with a potential client.   By not asking for a money commitment to enroll in their program, it quickly costs them thousands of dollars in lost income.

Following are actions you can implement immediately to make ‘asking for the money” a graceful activity you will begin to enjoy in your business!

To start, it is vital to get in touch with specific situations you have difficulty asking for the money.  Then, you must become aware of the financial cost of “not getting a handle” on these situations.

Typical areas women have trouble talking about money are:

• Making an offer in a Discovery Session (they freeze when it comes time to state their fees)
• Taking payment immediately over the phone (they wait for a check that never arrives)
• Making an offer to a client currently enrolled with them to invest in additional services (fear of being “pushy” / greedy)
• Asking a client to get current with payments (boundaries issue)
• Making an offer when speaking or training (fear of thinking ‘what other people will think’)

To transform your mindset into one of empowerment when ‘asking for the money,’ look at the list above and choose one situation that repeatedly crops up for you.  You may think of another situation you struggle with, as well.  Write your chosen situation down on a piece of paper.

Now, with your chosen situation, identify what it is you are secretly fear will happen; I’ve listed common reasons below.  Write down the fears that resonate with you:

• Being rejected
• Being judged
• Not being liked
• Losing love / friendship
• Losing business
• Worried what people will think
• Not being approved of
• Other fears

To make a change, you need to get in touch with the cost of not correcting this problem and calculate the financial cost.

To calculate the financial costs do the following simple math:

A. How many clients a month do you typically lose by not ‘asking for the money’ to make a sale?

B. What is the dollar value of each client lost?

C. What is the monthly cost of this situation (Multiply A x B)?

D. What is the yearly cost of this situation (Multiply C x 12 months)

If you’re like many women, you are now picking your jaw up off the floor because this situation is hurting your income BIG time.  And for many, the amount represents more than their entire year’s worth of salary from their business!

For a simple solution to immediately change this situation ask yourself the following questions:

“What if being afraid of the situation noted above were no longer important to me?”  

“What actions would I take?”

These questions are an opportunity for a breakthrough, and begin shifting your mindset around why you must become comfortable, so you feel confidence, ease and grace ‘asking for the money.’

Keep in mind that you are offering a service that has tremendous value to your clients.  By not making an offer to help them, you are depriving them of your gifts, and helping them be more successful.

Do you want to learn strategies how to generate immediate income in your business?  Stay tuned!  I’m excited about a *BRAND NEW* program I’m creating that is ALL about accelerating your income generation.

Prefer to listen to this week’s article? Click the link below

You’re having a heart-centered sales conversation with a potential client about your awesome programs.  She’s at the point of making a life-changing decision, and then says, “I’d love to work with you, BUT…”

“… I don’t have the money…”

“… I don’t have the time…”

“… I need to think about it…”

“… I don’t think I’m ready for this…”

“…I need to check with my husband…”

What you are bumping up against in your sales conversation is a client objection.  It’s natural for people to think of reasons why they can’t (or shouldn’t) do something, especially when it involves spending money.

If you’ve been having a heart-centered sales conversation with her, in which she’s discovered the cost of not taking action, and sees the gap of where she is, compared to where she wants to be, her objection is fear-based.  Emotionally, she wants what you have to offer and the transformation awaiting her.  And, ingrained and limiting beliefs—“old mental tapes” that play over and over again in her mind—are holding her back.

As human beings, we resist change, because it places us in “unknown territory.”   This is natural.  Even though we intellectually know “change is good” for us, emotionally, we automatically throw our weight against change and push it away.

The good thing about hearing objections like ones stated above is your client is interested in your program.  Your role, as a coach, is to support her through the objection to help her make a decision and say, “Yes,” to stepping into the transformation that awaits her.

Think about this.  If your potential client could navigate through solving her problem herself, she wouldn’t be talking with you.  She needs you to help her gracefully break through this barrier that’s probably been holding her back for a very long time.

Having good sales conversation and coaching skills are critical to help your potential client push through her,” Yes, buts…”  This is a tremendous opportunity for you to make a powerful difference, and transform her life.  So, don’t give up on this magical moment.  Embrace it, and help your prospective client through this knothole.

Here are some word-for-word scripts you can use in your sales conversations to help your prospective client get the transformation she’s craving and needs:

1. “I’d love to, but… I don’t have the money.”

Most entrepreneurs state the money objection readily, without even thinking if it is actually true.  The truth is “money objections” are rarely “about money.”    If we truly want something, whether it is investing in a coaching program, or buying a fabulous new pair of shoes, we will find a way to get it.  So, it’s your job to find out if it really IS about the money, or some other limiting belief.  To get to the bottom of the issue, ask your client:

“If money weren’t an issue, is this something you would do?”

If they say, “Yes,” then you can say, “Okay, let’s explore this a bit deeper.  Is there something else that could be holding you back from moving forward?”  By doing this, you sidestep the money issue, and try to reveal the real issue holding people back, and coach them through making a decision.  What you’re doing is displacing money as the reason for hesitation, and getting the client to focus on the real issue.

2. “I’d love to, but… I don’t have the time.”

This is a common objection, because many people feel time-pressed.  The real issue is usually lack of a time management strategy, and the ability to set priorities.  You can find out if they truly have “too much to do” with this question:

“If I waved a magic wand and created all kinds of time in your schedule, is this something you’d want to move forward with?”

If they say “Yes,” then they only think they don’t have time. You’ll help them by exploring how they spend their time, and helping them reset priorities.

3. “I’d love to, but… I need to think about it.”

If your program is a fit for them, the “I have to think about it” statement usually means “I’m afraid” or “I’m not sure I can do this” or I’m not ready for this, yet.”

Simply say, “What is it that you need to think about?” or “what don’t you know now, that you will know later?”

They will then tell you their concern, or realize they have nothing to think about except their fear and limiting beliefs.  If you let them ‘think about it,” most assuredly, their shadow beliefs will convince them while “thinking it over” that “now” is not the right time—when it’s probably the perfect time.

4. “…I need to check with my husband…”

Out of all the noted objections, this is one of the easiest to manage.  It’s a good indicator they have open communication with a spouse, and need to get approval before investing family finances.

You can say to your prospective client, “I understand you need to talk this over with your husband, and I respect that.  I would do the same.”  Then, gently remind them of your generous “Take Action” incentive, and ask them to get back to you within the next 24 hours.

Using heart-centered sales conversation skills puts you in a position to help the people who really need you most.  You’re giving them the opportunity to step into a place that will have a tremendous positive impact in their lives, and will help you meet your life goals, as well.

Do you want more resources about what to say during sales conversations?  My “6 Steps to Create a 6-Figure Business 1-Day VIP Intensive” is now available!  It’s complete with all the training tools, scripts, templates, and examples you need to create a 6-Figure business in 12 months (or less).  Only 2 openings available.  Email me at Bonita@BonitaRichter.com to get more information.

If you want to grow the sales of your business, squeeze some oranges.

Okay, I don’t literally mean ‘squeeze oranges.’  What I’m talking about is taking a look at the assets you’ve created in your business, and doing more with them.  Another term for squeezing is leveraging.  (I thought squeezing was more fun!)

What you want to “squeeze” are the assets in your business, so you can get more out of them.  Think of your company’s assets as a basket of oranges.  These oranges are a number of things, such as:

•  Products or services you’ve developed
• Clients
• Employees, virtual assistants, contractors relationships
• Marketing materials and methods
• Key referral resources

This basket of oranges is already creating a certain amount of income in your business.  The best way to make more money in your business is to:

• Create a second basket of oranges (more assets)
• Squeeze harder on the basket of oranges you already have

My choice?  Squeeze harder on the basket of oranges you already have (choice #2).

It’s my experience that most entrepreneurs wanting to grow their businesses take the much more difficult, expensive, and time-consuming route of creating a second basket of oranges.

The reality is many of your existing clients will buy more products and services from you, if you proactively tell them how else you can help.  That’s why it is so important to talk with your clients frequently and find out what are their probelms, and needs.

Therefore, my suggestion is get squeezing!

The fast track to growing your business—and your income—is to increase sales to an existing market. 

This means you go after the same or similar market with your existing products or services.  What you will do differently is you will market more proactively.

Revitalizing your marketing strategy may mean you’ll have to tweak, revise, or re-price some of your existing products or services.  The good news is you don’t have to totally revamp them.

It’s unnecessary to create new products and services, or market to a new market unless:

• Your product is out-of-date, or is no longer competitive
• The market you’re promoting to is extremely small, shrinking, not viable

Now, you’re squeezing your oranges!

So, if you want to grow your business and your income, the best way is to develop a smart, comprehensive marketing plan for your current products and services, and market…building on what you already have in place.

To learn more about how to create a marketing growth plan guaranteed to work visit http://bonitarichter.com/7-step/

My daughter, Becky, is pictured here in her prom dress on prom day.  It is such a lovely picture of her, I had to share it with you.  It was such fun that day helping her get her nails and hair “done.”   

I unexpectedly had to do last-minute alterations while the dress was on her—with no time to spare— because the limo was on the way!  She had lost weight.  (We found out later she lost 30 pounds in just one month.  This past week she was diagnosed with Celiac, the cause of the sudden weight loss.)  

So, if you’ve been wondering “Where’s Bonita?”, you now know one of the reasons.  Plus, I’ve been focusing my time working with my private clients.  Look for their stories in coming issues.  Their businesses include—  

• Eco-friendly products retailer
• Gardening products retailer
• Gourmet catering
• Human Resources consulting
• Start-up/specialty candles to start, more to come

To learn more about how you, too, can become a Platinum coaching client to ACCELERATE business growth contact me http://bonitarichter.com/contact/.

Learn Secrets How to “Close the Deal”

You can market, market, market.  But, if you can’t get a prospect to sign on the …dotted line…, you won’t have a business for long.

I’ve created a *NEW* *HOT* workshop I’ll be leading in September.   In May, I ran a pilot of the program and it SOLD OUT with 1 email!  I’ll be releasing more details in coming weeks.   

Have a beautiful and prosperous week,

Bonita

Marketing attracts your ideal client to you.  But, once a prospective client shows interest, many small business entrepreneurs don’t know how to get through the sales process to get a prospective client to commit working with them.

Following are some simple sales tips to keep in mind when you are talking with a prospect, so that you identify their wants, goals, get them engaged with you—and you don’t spill your candy box by giving away your precious expertise free!

1. Shorter telephone calls are better than longer calls.

Keep sales calls no longer than fifteen minutes in length.  Any longer than this, and you risk giving away too much information, excitement and energy fades, and you’ll have a tendency to give away free coaching.  The result: the client talks herself out of needing you!

2. Prequalify candidates with a questionnaire.

I used to meet potential coaching clients for coffee, or even worse, lunch…spend an hour or two with them…only to walk away knowing this person was not a right client for me for any number of reasons.  The result: I wasted a lot of time finding out this person was not ready for my services.

A better approach to prequalify candidates is when someone sends you an inquiry expressing interest in your services, send them a prequalifying questionnaire they must complete and send back to you, before your speak with them.

By doing this, if a person is truly interested in working with you, they will take the time to send the questionnaire back to you.  Then, you can review their answers to the questions, prior to calling them for an interview.  You will also have an idea even before you speak with them if they are a qualified candidate for your services.  The result: you’ve saved yourself potentially thousands of dollars of wasted time.

3. Keep your candy in its box.

Save your knowledge and expertise, and don’t give away too much information too soon (this ties in with Tip #1.)  Use time you are speaking with a prospect (after you’ve received the questionnaire) to fact-find, understand their situation, problems they need solved, and goals and results they want to achieve.

You will also ‘spill your candy’ by rushing into sharing aspects of your services your potential client may have no interest in, or does not understand.  This moves them closer to saying “No” to your services, because they appear not to fit in with their needs.

4. Let your prospect do the talking.

Your prospect should be talking 70% of the time.  If you are doing all the talking, you’re not discovering their wants and problems, and they are not articulating them.  Let them discover how you can help them through the thought-provoking questions you’ll be asking them.

Also, don’t flaunt your expertise by using technical jargon or buzz words your prospective client may not understand.  It makes you seem smart, but makes them feel less so.which is another reason for them to say “no” to working with you.

5. Ask your client what solving the problem will mean to them.

Asking this question gets them emotionally engaged with you, and the problem they are trying to solve.  By tapping into the emotional reasons, you will hit a vein of gold when they discover how solving the problem they are experiencing will change their business, and their life for the better.

Keep these tips in mind during the next conversation you have with a potential client.  By doing this you will be more successful in getting them to communicate their wants and problems to you, and getting them to say “Yes” to working with you!

In meeting with many of my clients the past few weeks, when I asked them how their businesses are doing, many of them say, “Slow!”  Contacts who expressed interest don’t return phone calls, missed appointments aren’t rescheduled, and buying decisions are delayed. 

Any business can slip into a slow period.  But, the trick is to know WHAT to do to get your business back on track as quickly as possible…and better yet, HOW to avoid slipping into a slow slump in it in the first place.

Here are 4 tips I personally use to coach my clients out of slow business period:

Tip #1 Reach Out and Touch Someone

When a sales slump hits, your energy seems to drain away as well.  Before you know it, you hardly have the energy to open your email much less put out the effort to market your business.

The solution to this problem is actually very simple.  You MUST reach out and reconnect with past and current clients.  Send out an email to your clients, past clients and business associates, explaining the benefits of working with you, and ask for a referral.  Include a f-r-e-e article as a way of demonstrating value, and you may find you’re on the path to picking up new clients in a few weeks (I have seen this happen!).

 Tip #2 Remind Yourself You’re “Not Bugging” Someone by Contacting Them

If you have clients, who haven’t used a package they purchased from you or have missed appointments without rescheduling, then it is up to you to reach out to them.  I recommend making a friendly call, or sending a hand written note reminding them you want them to get the results of the service they purchased.  You’ll be surprised at how often your clients express appreciation and gratitude at your thoughtfulness for reminding them to use your services!

Tip #3 Refocus on Your Business

Sometimes sales slip because our attention and focus has been directed on anything BUT our business.  If that’s the case, then this is the time to give yourself a break, stop feeling guilty, and give yourself the breathing room to make a fresh start.  Set small daily goals that include reconnecting with past clients and colleagues, then build up your energy and actions from there.

Tip #4 Keep Your Eye on the Prize

Twice each year, spend a couple of days evaluating my goals and income, and then take a fresh look at where you’re headed with your business.  The start of a new year is a perfect time to do this activity, as well as the end of every quarter year.

This allows you to plan new events, programs, and product launches that will keep your income flowing smoothly, and growing year-round.

So, if your sales are slower than you’d like, or you want to 1ncrease your sales, then now is the perfect time to reconnect to WHY you do what you do, reach out to WHO you love working with the most, then follow up, follow up, follow up to keep your relationships strong and profitable!

How do you get your business out of a sales slump?  Share your expertise and write a comment for our readers.