35 min listen
TSE 1145: Flip the Script
ratings:
Length:
40 minutes
Released:
Jul 25, 2019
Format:
Podcast episode
Description
Many sellers rely on old ideology to engage their customers without realizing that if they flip the script, they can set the rules for the sale instead of conforming to the buyer’s rules. Oren Klaff is the author of Pitch Anything, a required reading throughout Silicon Valley, Wall Street, and Fortune 500 companies. Oren is the world’s leading expert on sales, raising capital and negotiation and has written for Harvard Business Review, Advertising Age Entrepreneur, among others. He is also an investing partner in a $2 million private equity investment fund and loves motorcycles. Oren is about to release his follow-up book entitled, Flip the Script. Raising money for companies There is very little flexibility in most meetings, in that what happens in the first few minutes determines the outcome of the whole thing. The pitch is very important because there are high stakes in every presentation. It’s expensive to travel to presentations, so you have to get everything right the first time. Making a pitch is like a surgery. There’s no room for error. A pitch is a pitch regardless of the value: $1,000, $5,000, $100,00, $10 million, or $15 million. An account is an account. This is what Oren does. He invests in companies, buys companies, and he trains the salespeople in these companies to raise money. He knows this works because companies tell him that their sales averages have doubled, that they’re closing deals, and that they’re raising money effectively. He isn’t an academic who dives into the numbers and writes a study about it. He is the one who dives in and takes action. Pitch is everything You walk into the boardroom where there is a lot of money at stake and you give the pitch. The next five minutes determine the outcome of the meeting. In sales, if you don’t win the deal, you just go to the next one. In a given fund-raising project, you might be trying to raise $10 million for a company and have only 10 pitches to do it. You have to learn it, give it, and raise the money. If you don’t, it’s a catastrophic failure. You do what you can to give a pitch that will help you win your sales situation. Pitch Anything shares all the things Oren learned from all the pitches and high-stakes situations over 20 years and teaches how to apply the exact same rules to everyday business. Whether you’re taking part in a sales meeting, doing sales over the phone, or recording presentations for a webinar, the book teaches how to win in everyday sales situations. Pitch Anything sold a million copies and the follow-up book, Flip the Script, shows you how to do the things you never would have thought possible. Writing ‘Flip the Script’ Oren has seen people put his concepts into practice: how to open a meeting, how to raise your status, how to control the frame, and how to lead the buyer to a purchasing decision, and how to build your status so high that people will be desperate to buy your product. Even when people are trained, we still make mistakes. This is what Oren has seen and he believes that the follow-up book is going to change the world. Inception Oren said that most people wouldn’t recognize his techniques as the way to conduct sales. For example, Oren met with a guy who wanted help in selling his company. They discussed the terms and proposals for 45 minutes. After that, he left and then came back 90 seconds later, which usually isn’t good. You don’t want people to leave just to walk back into the conference room. But when he came back, he had a check ready for $15,000. When someone decides that even with no contract, no agreement, and no terms, he’s committed to working with you, this is inception. It happens when the buyer decides internally to do business with you and starts taking things forward. It doesn’t demand price negotiations, because you’ve positioned all the information in such a way that the decision to work with you bubbles up inside them. Buyers are cold and digital. They want information, pricing, and a
Released:
Jul 25, 2019
Format:
Podcast episode
Titles in the series (100)
TSE 003: Relationship Selling with Jim Cathcart by The Sales Evangelist