June, 2007
ARE YOU SELLING YOURSELF short?

Having spent most of these past several months traveling between our locations, I heard the same story from different customers. “XYZ Company under bid me by X number of dollars on Mr. Jones' project.” 

Being a businessman I know what competition is all about and I don’t compete just to break even.  It’s very evident that there's several XYZ Companies in every market and maybe one of them is your company.  I’m sure you’re not doing it on purpose, because you are in business to make money.  Right?

I know in the heat of the summer you're all pretty busy and sometimes you just don’t have enough hours in the day to spend quality time with a prospective buyer.  But when you cut your sales presentation short, it becomes very difficult for the prospective buyer to fully understand the products and services you can provide for their project.  If you don't take the time to educate the prospect about your premium product and service, how can they make the correct decision on who to buy from?

You’ll notice that I said premium product and service.  Whether you are making a presentation about a water feature, landscape lighting, or a sprinkler system, you are talking about premium products and services and you should be approaching your sales presentation in that type of context. 

Today’s consumer is educated.  He usually has a figure in his head on how much something is going to cost.  Normally, their figure is high.  Don’t disappoint them!  If I’m going to buy a 48” plasma screen television, I might not know the exact cost, but I know I’m going to be spending somewhere in the $5,000 range.  When I walk into the store the salesman asks me what I’m looking for and my budget, and yes he doesn’t disappoint me.  He finds a TV in the price range that I’ve budgeted.  He could have steered me to the one that cost $3,000, but he knew how much I was expecting to spend and he helped me spend it.

Don’t ever be afraid to ask your prospect what they’ve got in their mind for a budget figure for the premium products and services you'll be proposing.  If they’re totally out of line, them right away that you won't be able to provide your premium product and service for that price.  If they give you a number that you can work with, you begin your presentation.

A very wise man told me once that I should approach every prospect with the thought that the prospect has $100,000 lying around in his checkbook just waiting for me to come by and sell him my premium product and services.  Don’t sell yourself short. Ask for the premium price to go along with your premium product and services.  Don’t be surprised when you get the sale!

- Mike