i'm jordan belfort and this is sales school [Music] all right so if you're a business owner do not let quickbooks and spreadsheets slow you down anymore now it's time to upgrade to netsuite by oracle the world's number one cloud-based business system network gives you the visibility and control over your financials inventory and more schedule your free product tour right now at netsuite.com school and we're on what i think is probably one of the most important topics of all prospecting now if you've been through prospect maybe you have i have i don't know if you're close
to getting through it you're gonna notice it's one of the longest modules in the training and there's a reason for that because the biggest mistake that newbie sales people make is they fail to realize that not only is prospecting about like you know you know building rapport and getting the person you're kind of warmed up and you know finding out who can potentially buy right it's also about eliminating the ones that are not right for your product now there's when you're prospecting yeah of course you're looking to you know scriptural list that the marketing department
gave you in other words you have a marketing team every company you go to have some sort of marketing team and and for the very few that don't well what's happening is you're doing both because it just makes sense for you because of the nature of the business that you're working for that you do two and one but marketing what it does basically is it brings in a list of potentially qualified buyers the more targeted the marketing campaign the more targeted of this you know this big list of buyers is going to be right but
no matter how targeted a campaign is the amount of effort we put into it you're never going to be right a hundred percent of the time so if i run a marketing campaign that's heavily targeted let's say i get a hundred names of people that are interested in my products honestly at the high end 50 might be right for my product and 50 are going to be wrong for it either they just don't qualify or maybe they would love to be able to call it they don't can't afford it or whatever right so you can't
expect that if i give you a list of a hundred or a thousand names and make no mistake when you're on the phone calling you're expected to make two 300 calls a day why because you're sifting through a list of semi-qualified people meaning they might be right for your program or product and your goal is to separate out the ones who actually are close enough to being right for it that they are almost worth making a presentation to in other words what you don't want to do is make a full-blown sales presentation to someone who
has no shot of buying your product why you waste your time you waste their time so there's a time management issue but just as important at the end of the day let's say you spoke to 10 people and eight of them were just not qualified but you present it to all ten of them so what happens well obviously the most you could possibly close is two eight were not right for your product they just either didn't want it didn't need it or couldn't afford it right so at the end of the day what do you
say to yourself oh god maybe i'm just not good at selling i mean i made 10 pitches and then no you know only one out of 10 bought from me meanwhile the reality is your closing rate is 50 in other words if you had two people that will qualify that could buy and one board your close rate really is 50 but because you made presentations to people you should not be speaking to you think you're doing badly i can't tell you how many sales people i have seen make this mistake in companies all over the
world and as soon as i teach them this art of sifting meaning taking a list of people a list of names and using the telephone or going out into the field and using the first touch as a means of separating out the buyers from the non-buyers things dramatically change why because they don't waste time their confidence starts to grow as they are only making presentations to those people that have the ability to buy and it starts to feed on itself and feed myself before you know it you have someone that's well on the way to
becoming a top producer bottom line all right so with that let's get right to it when you're out there on the phone or in the field let's go for the phone first right i am telling you you better be making yourself into a dialing machine because sales at the end of the day is a numbers game the more times you dial the phone the more people you'll speak to the more times you get to actually do this sifting process of who's right and who's not right i want you to be down the phone at least
a couple hundred times a day when you're first getting started i want you to be a dialing machine okay when you're out there knocking on doors depending on if you're knocking on businesses or homes whatever it might be i want you knocking on a hundred plus doors a day all right we'll get to that separately here's the deal let's stick with the phone just for the rest of this right now because it's just easy for you to comprehend you just choose one they're very much the same right of a hundred people that you call no
matter how targeted the campaign is you're always going to find that they fall into four distinct categories now i go through these in intimate detail in the straight line training right but i want to give you some overview right now and the context of how you should be looking at it when you actually go through this if you haven't gone through it already so it starts with the first group we call them buyers in heat and these are your best buyers of all buyers need the people that need your product want your product can afford
your product i mean they have the financial ability to buy it right buyers in need and here's one more thing about buyers in need this is what makes them buyers and eat is they're feeling some pain some lack in terms of them wanting to make the decision now something is happening in their life that's making them feel an immediate need in the moment to buy the product now here's an example let's say you're an automobile salesman and someone walks in your dealership and it's a guy and he's an old cliched example and the guy just
went on a date with the girl and the girl gets in his car and she's like this car is disgusting and gross it's smelly it's old and not so much that she's a gold digger i don't mean it like that but like it's such a jalopy and it's a reflection of the person himself it's like disgusting and it breaks down halfway through the date right and they get stuck right she leaves him and she's like well thanks you know thanks for the great day you know like don't call me till you get a real car
like you know i'm not asking for a rolls royce but that guy now the next day is a buyer in heat for a car he is feeling pain about making a decision right that's your best buyer of all they need your product they want your product and they're feeling some pain about the product i just had the other day myself with a tooth of mine i had a tooth go bad on me right i went to the dentist even the in in the services like a medical profession right i walked into the dentist i was
in pain she was like trying to explain how the tooth course two thousand i'm just [ __ ] yes yes just do it i'm like i don't care it shows all the medications through yourself it's like fine give me the medication like she could have said anything at that point because i'm feeling pain out of control i want to resolve that pain now i'm a buyer in heat that's your best buyer of all the only problem with buyers is that the fewest number so out of 100 people in a pipeline you might have 20 that
a buyers need okay next group are called buyers in power and they're very much like buyers and heat they need your product they want your product they can benefit from your product they can afford your product only difference is they're not feeling any pain any urgency to buy the product now you get it so the example using a car would be a guy has a nice car right now and you know he knows it's four years old and maybe it's time to trade his maid and said you know i'm gonna buy a new car and
he goes out there and starts shopping for a new car but there's nothing driving him to make that decision that day so in order to get that person to buy you're gonna have to hit it kind of right on the head like show him exactly what he wants make a very strong case creates some urgency about why it makes sense to do it right at that moment so that buyer is definitely closable but they're not as much of a lay down so to speak as a buyer in heat your buyers and heat are your best
buyers of all unfortunately there are fewer buyers there are buyers and powers let's say there's 20 buyers in heat you might have 40 buyers in power or 30 buys in power right so let's stick with the 40 numbers that made 20 and 40 60. well what does that mean there's 40 people in two other categories right the sport categories at all the next two categories are your non-buyers so watch category one buyers in heat category two buyers in power those two categories collectively are your potential prospective buyers the remaining 40 and again i'm just estimating
the numbers here because that number or those numbers will be dependent on the quality of what of the marketing campaign the more targeted the campaign the more buyers you'll have in there you get it the less targeted the more people will not be in that buyer's category so these next two numbers are next to categories are called you have what's called the looky-loos or another word tire kickers looky looky-loos are people that disguise themselves as buyers in power they walk in they act like they need the product they want the product they give you all
the buy signals that are regular buyer in power or he mostly usually it's usually a buyer in power so they they're pretending like yeah i'm really interested but you know selling me this property you know i'm not dying for it right that's your typical lookie loop but the one distinction is they have no intention of actually buying your product and nine out of ten times what separates the look you lose from a real buyer in power is money they can't afford it they're window shopping they're getting some vicarious thrill about walking around pretending they can
afford something maybe they want a test drive of a car trying on some clothing using a computer and whatever it might be just you know finding out and pretending people just like to shop right so those look you lose four tire kickers and we call them fire kickers in the order right because they come in and kick the tires we never buy right the reason they're the most destructive buyers of all most destructive you know non-buyers is because they waste your time those are the time vampires you sit there because you might think they're buyers
in power you spend the time making a full-blown presentation and you're following up on then you're trying to close them but they have no intention of buying so we have to weed out those looky-loos as quickly as possible and in the actual training i give you all the secrets of how to do that so just to be clear you're going to learn exactly how in a very step-by-step templated fashion here but let me first get on now to this fourth category which are called the mistakes or the people who are dragged into your pipeline for
example very often when you run an online campaign people will click something thinking it's something else they go in they click they enter their email to try to opt in they look off again now i'm not interested now you have that name and you try to call that person back and the second that you called like nah nah my [ __ ] it's not for me that's easy to identify so they're not that dangerous the thing i urge you to do though is do not try to turn these people who are not interested into buyers
you know it's one of these things if you know if they're not interested i don't get into the whole grant called don't idiocy with it you know where you've probably seen the by grant cardone podcast where he died i mean he's he's out of his mind right but anyway the point is is that when someone is not interested that means they're not interested as a salesman a professional salesman your job is not to take people who are not interested in what you have and somehow pressure them and trick them into buying it that's not what
we do what a professional sales person does is we sift through a prospective list of buyers that hundred list 100 person strong list of buyers and then we look for the buyers in those first two categories buyers in power buyers in heat and we continue to move them down the straight line so we're only making full-blown presentations to the people who can potentially buy our product now what happens to the look you lose and the mistakes well the mistakes are very easy to spot out they have no interest they'll tell you they have no interest
and you say great sorry have a great day click next the look you lose you're going to learn how to weed them out you get better and better at it because there's some telltale signs which you'll go through in the training but just remember when you are out there calling people on the phone and there are 60 people that are in those first two categories buyers and heat buyers in power you're not going to close all 60 you're just not i don't even the with the best clothes in the world so to speak right i'm
not going to get all 60. when i say that i can teach you to close anyone who's closable what i mean is that when you go through this list of 100 people and you weed out the 40 look you lose and the stakes right and you're left with the 60 prospective buyers the ones that don't buy from you let's say you close 30 of them or 25 of them what you're going to walk away saying to yourself is you know what i didn't close them but no one could have closed them jb himself wouldn't have
closed them and you'll know when you feel that way you'll know that wow you know if i do the work if i make the dials well i'm definitely going to get the result i'm going to get rich because i know that when i get a prospective buy that's closable i'm not going to blow it i see i couldn't imagine this is almost the whole idea of this program is to make sure that when you show up for your job and you start working you start dialing or knocking the door seeing people in person when you
do that you're not in the position where you say well i don't really know how to close people like even if i do the work even if i make the calls i still can't close them so you say why would i want to even make all those calls your brain says it's not worth all the effort so what this program does is it puts you in the position where when you exit and start at the company you have the internal fortitude and the knowledge that you know what when i get someone on the phone that's
qualified i possess all the skills necessary to close them and that is what sets you on the road to being a top producer bottom line and you get better and better with practice and repetition and so forth that's the secret to this system why salespeople that graduate from this boot camp and go to a company they outperformed the people who just recruited in some random way and by the way you'll notice that they stop the you know the companies stop recruiting the rainbow because they don't get the same result as with us right the point
is you'll hear stories how about salesmen used to show up and their attrition rate was like 80 percent this program there is no attrition why because a you're hand-picked and b you're getting spoon fed everything that you need to be able to close anyone who's closable you get it so when you hang up the phone and you haven't made a sale you're like you know what that's okay no one could have closed them you don't say oh damn i blew it what's wrong with me and that's power [Music] you
