While there may be many reasons for failing to close, I’m going to identify and discuss what I consider to be seven of the main reasons most people are not successful in closing.
1) Never attempted to close.
This is the single biggest reason for never closing a deal. It is just basic and simple: never tried, no attempt. Because the closer never asked to get an agreement, he won’t. If you don’t swing the bat you have no chance at hitting the ball, and if you don’t attempt the close you won’t close.
I believe it’s better to get a “no” because I asked, than no response because I didn’t. Push yourself to attempt the close, be willing to fail, be willing to get the no and you will be shocked at the number of people that will close just because they were asked.
2) Unwillingness to deal with emotions.
Most people are unwilling to deal with the emotional discomfort that takes place between the “no” and the “yes,” and actually seek to avoid this emotional exchange at all costs.
When it comes to negotiations, agreements, decisions and money (the close), people do get emotional and most of it is only an emotional response having nothing to do with you or your proposal. You have to be trained to make nothing of it, acknowledge your prospect, and certainly avoid getting emotional yourself. Acknowledge whatever reaction they have, or whatever they may be experiencing, but do not respond with more emotion.
3) A lack of belief in the product.
People that are selling every day tend to lose that passion to make sure the buyer says yes to what they have to offer. I wrote about this in detail in, Sell To Survive, where I described people giving up due to a lack of belief in their product, their service and the company they represent.
You have to be SOLD yourself, or your client will sell you on not closing. This passion and belief have to be rehabilitated from time to time. In every selling exchange, a sale takes place. He who is most convinced, most passionate and most sold, will do the most selling. If you are not sold, you cannot close to an actionable agreement.
4) An incorrect estimation of effort.
The inability to correctly assess how much energy and effort it takes to get something done is a major problem for the seeker. The result is someone who is not prepared emotionally, physically or technically to generate the correct effort necessary to get the mission accomplished.
Have you allotted the time, effort, amount of insistence, enthusiasm and staying power to take your prospect from no to yes? Have you trained for the most difficult situations that you will ever face? This correct estimation of effort will allow you to correctly assess, and then prepare, for the situation! Train for the most difficult and hope for the easiest.
5) No financial plan in place.
Sales people operate without valid financial plans; therefore, they lack the proper motivation and underestimate the importance of every close to that financial plan. You have to get a proper financial plan put in place in order to have the proper drive (need) to get the job done. Since the age of 25, I have had a financial plan in place that caused me to push harder than others around me were willing to push. I go into every deal knowing this deal will contribute to the Grant Cardone Financial Freedom Plan. Too many people go to work to work every day, and do so for the next forty years, to later discover they are short on money and long on years.
Get a financial plan today and make sure it is going to do more than pay bills, but also create financial freedom for you and your household. You will start closing more deals and you will quit underestimating the amount of effort, energy, and enthusiasm it takes to get a deal closed. The bottom line is this: if you underestimate what it takes to create real financial freedom, then it only makes sense that you will underestimate what it takes to close a deal.
6) Handling objections that are only complaints.
Sales people unfortunately have been taught to handle objections for years that are not objections at all, but just merely complaints. Of all the sales books I’ve read, I’ve never seen this issue distinguished. Over years of research, I learned most so-called objections from the client are not actually objections at all, but just simple complaints that people automatically make throughout life.
When you treat a complaint like an objection you validate it and turn it into something that it is not. The more you validate it and handle it the more real, the more solid and significant it will become to everyone. The first thing I do when I hear what appears to be an objection is treat it like a complaint until further validated as a real objection. If it is a legitimate objection, you will know soon enough because when you try to handle as only a complaint, your prospect will make it clear that this is more than that.
7) Shortage of closing material.
Great closers are rare. None are born great closers — all are developed through study and practice. Great closers have deep arsenals of closing material completely memorized, rehearsed, natural to them, and delivered in a manner that fits their personality. They completely and absolutely understand how and when to use their closing tools, and are able to wield them with ease.
Take the time to check off which of these seven stumbling blocks may be keeping you from the close. Even keep them at your desk or refer to them after you miss a deal and see which one’s you might be guilty of. You will be surprised.
Your friend in sales and business,
Editor’s note: This is an excerpt from the book The Closer’s Survival Guide. It has been published here with permission.