On today's episode, I answer the top question that's been hitting my inbox the past few weeks; "Brian... how on earth am I supposed to sell during a recession!?"
On today's episode, I answer the top question that's been hitting my inbox the past few weeks; "Brian... how on earth am I supposed to sell during a recession!?"
I hear you. Budgets are getting frozen and slashed. Jobs are being terminated. The economy feels like it's headed to a standstill.
Naturally, the idea of trying to sell during this type of climate can feel daunting. But have no fear, as today, I'm outlining 5 ways you can be sure to CRUSH your sales quota, even during a recession!
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Stratus ip - Business Technology - Simplified
Brian Nichols 0:04
focusing on winning arguments. We're teaching the basic fundamentals of sales and marketing and how we can use them to win in the world of politics teaching you how to meet people where they're at on the issues they care about. Welcome to The Brian Nichols Show.
Unknown Speaker 0:17
Well, happy Monday there, folks, Brian Nichols here on The Brian Nichols Show. And thank you for joining us on of course, another fun filled episode I am as always,
Brian Nichols 0:27
you're humbled. And today if you've ever gotten a one on one, I'm actually answering a question. I've been getting nonstop in my inbox. We're going to touch on that in a second. But first folks will thank you for joining us. On today's episode. Before we kick things off, I want to go ahead and give a shout out to today's sponsor. And that is the expat money Summit. 2022 head to Brian Nichols show.com. Forward slash expat where you can go ahead and join our friend Miguel thorup for five days plus 30 other expert speakers and I promise you watch for that one week you will reap the benefits for generations head the Brian Nichols show.com forward slash expat get your free tickets to this amazing virtual summit again, November 7 through November 11. One more time, Brian Nichols show.com forward slash expats. So you might be thinking like, oh, things are getting pretty bad in America, I might want to go and live somewhere else. Well, that's where you can go ahead and talk to me calthorpe. But if you're in the world of sales, the question of the things are getting pretty bad. It's been hitting home pretty quickly, really fast held a sudden it seems in the question I've been getting nonstop in my inboxes has been? Well, Brian, what can I do if we're in a situation where? I don't know the I don't know what I don't know, things are gonna get weird. What happens? If we go through a recession? Well, don't worry. Today we're going to address just that. I'm going to go through five ways you can crush your quota. Even if we are going through a recession, I promise it will be well worth your time. So starting things off today. Number one, a positive mindset. Yeah. So when we talk about a positive mindset, it's important to acknowledge the elephant in the room. So yeah, things are getting weird. We've seen the stock market crash, hundreds and hundreds of points, it seems every single day the past few weeks. Inflation is at an all time high with I think we're at a number of you haven't seen since 70s. So right now, things are getting weird. I've heard it on phone calls myself, I get decision makers on the phone, there's no budget, there's no, there's no timeline, things are on hold, you can start to feel the angst in other areas as well. So having a positive mindset, despite all the chaos is so important, especially when everybody else has a negative mindset, it will help keep pushing you through. Now, I will make sure I preface this by saying it's important not to to get addicted, right, we know drugs can be dangerous. Well don't get addicted to the opium, right, there's a difference between having a positive mindset and having an addiction to hopium. hopium is when you're looking at opportunities that simply aren't there. But you just keep on trying to make something out of it. Whereas having a true positive mindset is, in fact going with the good things, but also rolling with the bad things right and still maintaining positivity throughout. It's not just wilt like wishing good upon anything and everything as it happens. That's not what we're talking about. Here. We're talking about a positive mindset. Number two, focus on outcomes. This gets missed in sales just in general. But this becomes super important when you're selling during a recession. Because when you're in a recession, people really care about the outcomes. They want to know that your product that your service is not just going to help them in the short term, but it's actually going to help them solve the immediate problems in the long term problems that they've identified and give them positive outcomes. And it's important to make sure that when you're promoting your product, your service, or you're focusing not on what it is, but what it does. And what it does is the outcome, right? So let's use the old example of a hammer in a nail, right? When you have a hammer and a nail, you're not looking to simply put the nail into the wall using the hammer, but rather you're maybe trying to hang a picture frame on the wall, right? So instead of going to someone and saying Do you want this hammer Do you want this now, you can use it for so many different projects. This is the strongest hammer, this is the strongest nail it'll be great for any project you want to use it for. Instead, you want to go to the person who's actively trying to solve a problem. They're trying to hang their their picture frame on the wall. Now you have the solution and you can focus on bringing that solution bringing that outcome to the table. Number three, get creative with pricing. This one can be a little difficult, especially if you're not in control of the pricing from your company. But if you have the ability to get flexible With the way you present solutions, it might help you as well, you don't necessarily have to change the price. And I actually would recommend you don't change your prices, you might need to adjust based on obviously, the increases with inflation, but also you might need to adjust as things are moving forward with the recession. However, with that being said, if you can get creative and keeping where your price currently is, but just presenting it in a way that could be maybe disseminated differently, or in turn in terms of internal processes from the companies you're selling to, then that makes it a lot easier to swallow. Right. So for example, in my day job, I sell very, very intensive cybersecurity solutions. And these solutions, if you're like, let's say a penetration test, and all that would include, can cost depending on the size and scope 10s of 1000s of dollars in one, capital expenditure. Whereas what we've been able to do is present these solutions, but based on a monthly solution, so instead of having to pay that one time fee up front, now it's broken off into monthly payments makes it a lot more manageable for the customer. So we haven't changed our price, right, the price is still what it was. However, now we're giving it in a different way and presenting it in a way that's easier for our customer to go ahead and actually take a step with, especially when things get tough. And in terms of finances, it is important to make sure that you are being knowledgeable of the fact that your customers are changing internally as things get weird on their end, too. So to stay in contact and make sure that you're focusing and staying in touch with your customers is gonna be paramount as well, especially when you started talking about pricing. So really quick, we're gonna pause here and I want to go ahead and if you have not had the chance yet, I want to make sure you go head to Brian Nichols show.com forward slash mud, because that is one of our sponsors here for today's episode on The Brian Nichols Show. And that is mud water. So mud water is your your coffee alternative, which is going to be caffeine free, jitter free. And I'm so excited to have him here on the program, because not only can you go ahead and start your new morning ritual off, right, but every purchase will go right back here to helping support The Brian Nichols Show. So if you want to go ahead and get away from coffee, looking for real alternatives that are out there, they're going to leave you feeling the best you felt in the morning than I promise you felt by having a cup of coffee, we'll go ahead and check out Brian Nichols show.com, forward slash mud and get your cup of mud water today. All right. So moving forward, focus on your existing customers gonna take care of your customers. Why because at the end of the day, if you're not taking care of your existing customers, your competitors will. And that's not good news for you, I promise. And also, if you truly believe that you have the best solution for your customers than the fact that they would be going from your solution to an alternative, that's going to be not a good solution for your customer either. So we're thinking about not just ourselves in this situation, but truly thinking about our customers. And going back to number two, our customers outcomes. So when you focus on your existing customers, and we've heard this expression before, it's, you know, I think it's 10 times more expensive to go and find new customers than it is to retain your old ones. So let's make sure we're not only keeping our old customers, but also continuing those conversations and finding out what problem areas are popping up as they're going through the recession. So for example, if you find that you let's say you're working with a manufacturing company, and as the recession starts to creep up more and more, and it's hitting them as specifically and they are starting to discuss, well, maybe we have to talk about cutting back our budgets, because we can no longer afford that projects that we thought we had. Now all of a sudden, you can start to not only talk about those projects, but you can also utilizing the tools we talked about here earlier in creative pricing, present solutions that they absolutely need, but do it in a way that will be more effective for them and more affordable in this case. And again, it gets with you actually having to get with your customers so go out especially when things get weird. Reach out to your customers, call your customers, ask them how they are ask them what their their problems are, what are the main things they're going to be focusing on? What's keeping them up at night, ask them and I promise you, they will not only tell you but then you can go ahead and use as a means to go ahead and find new opportunities to either sell them more services or upsell the existing services you had before. And then number five, this is do what others won't. This is the whatever it takes mentality. You have to be a warrior when the recession hits. When you have the do whatever it takes mentality that do what others won't mentality. And then you couple that with the number one positive mindset you can become unstoppable despite all that's happening right now, with the economic uncertainty and yes, the impending looming recession that seems just around the corner, so This, I hope was helpful folks five easy steps you can take right now to crush your sales quota. Even if we have a recession. I sincerely hope that you got some value from this and if so, please do me a favor. Go ahead and give me a shout email me Brian at Brian Nichols show.com. Also, you can go ahead and follow me on social media Facebook, Twitter, at B. Nichols liberty and also folks going back to our sponsor for today's show, including yes the expat money show. But the other one the the mud water sponsorship, if you're interested in what mud might be, and you're saying, You know what not only are how about this, it might be a great opportunity if you've already had some mud water, because I don't want you to maybe go ahead and enter into this if you aren't comfortable with what mud water is for. So do some research. It's different. It's got mushrooms, it's got very earthy taste. It's not your traditional coffee tastes. But I've gotten a lot more from mud water in terms of my awareness, my energy, my memory has been a lot better lately, which I've really appreciated. And especially having the endurance to get through a very long day, especially if you're in the world of sales. If you're an entrepreneur, my day started at 4am and I'm going until many times 10:10pm or so at night. So to be able to start my day off, right, it's great to have mud water, but I know for example my wife, she's not a big fan of the taste. So hey, I'm gonna be completely transparent with you it might not be for you. But if you are a fan of mud water or if you know for a fact it's time to get away from coffee, you wanna try something else. Well here I got a one month supply of mud water in store for you for free. If you head the Brian Nichols show.com forward slash mud and you sign up for mud water now you can cancel at any time. But if you do sign up and you send me a screenshot of your receipt, I will send you in the mail 110 which is an entire month supply of mud water to your door for free. So please know we only had a couple of these right so it's limited to the first three people who reach out to me you will get mud water with your screenshot so make sure you send that me your your you rather you send that to me. So it's getting my way ASAP. So I make sure I can go ahead and Reserve your free midwater but again, email me Brian at Brian Nichols show.com. And that's going to be you know, going I would say for the next we'll say two weeks or so that sounds fair until we get to a July. So
with that being said, Folks, that's all I had for you today. I you know it's one on one. I know recession talk has been really top of mind. So I want to make sure that as we move forward here and things are gonna get a little bit more dicey economically speaking. So it's important to make sure if you are a sales professional or if you're an entrepreneur, you're ready to rock and roll and you're feeling comfortable as well. So hopefully you guys enjoyed today's episode if you did well, I promise you, you're really going to love yesterday's episode. If you're a yesterday's Friday's episode, excuse me, if you're here, on the audio version of the program, all you have to do is click the artwork and your your podcast catcher, it'll bring you to Brian Nichols show.com, where you can find not only Friday's episode, but 520 plus other episodes of the program. But if you're here on YouTube, you can go ahead and I'll actually include it right here for you, Youtube watcher, it was a six ways that you can go ahead and become assertive overnight, even if you don't think you have an assertive bone in your body that's going to be important to going through recession is still standing firm on your convictions. And yeah, going back to doing what others want and being positive. That requires you to be assertive as well because you have to fight forward despite when other people are saying Are you sure it's a good idea? Oh, man, things are getting rough. Are you sure you want to go ahead and make that next jump? No, this is the time to take those next steps. So with that being said, if you want some extra help, by the way, I can go ahead and give you some sales or consulting advice there for your sales teams. Go ahead email me Brian at Brian Nichols. show.com happy to have that conversation. But with that being said, Folks, thank you for joining us on today's episode. If you're here on YouTube, I'll see you over at our last episode here being assertive right here below. But otherwise, for you audio listener, hit that subscribe button so you're not missing a single episode here on the YouTube Listen, watcher hit that subscribe button so you're not missing a single time to go live. And of course, make sure you hit the little notification bell so you don't miss us as well. That being said, thank you for joining us on the program. That being said, it's Brian Nichols signing off on today's episode. We'll see you tomorrow,
Unknown Speaker 14:18
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