What is the golden rule of sales?

“ Brian Tracy: “Sell unto others as you would have them sell unto you. The successful sales professional uses the golden rule to sell with the same honesty, integrity, understanding, empathy, and thoughtfulness that they would like someone to use in selling to them.

What are the 3 rules of selling?

What is the first rule of sales?

The number one sales rule to follow is to never end your day without taking at least one proactive step to put prospective business in the top of your sales funnel. That means making one call, asking for one referral, sending a letter, an email, or going to a networking event.

What is the basic rule of sales?

Truly Listen.

Be slow to speak and quick to listen. There is nothing worse than a sales person who talks too much – not only is it annoying for the potential buyer, but it highlights ego, selfishness, & desperation. Show up to your potential buyer ready to listen. Ask open-ended questions and then stop talking.

What are the 4 rules of selling?

The Golden Rule of Sales

What are the 5 pillars of selling?

The five pillars of sales success form the bedrock of what makes us great. Positivity, asking the right questions, listening, industry knowledge, and grit are just as much about the nature of the people that we hire, as they are about the training and management we provide.

What are the 7 laws of sales?

If you're serious about selling, then you need to be aware of the 7 Irrefutable Laws of Sales. These laws are: the Law of Preparation, the Law of Energy, the Law of State, the Law of Mindset, the Law of Empathy, the Law of Authority, and the Law of Listening.

What is the 70 30 rule in sales?

What is the 70/30 principle? The 70/30 principle states that the salesperson should be talking for 30% of the conversation and listening for 70% of it. This 70/30 breakdown doesn't mean that you should spend 3 minutes of a 10-minute conversation giving your pitch and then listen to the prospect talk for 7 minutes.

What is the 30 30 30 rule in sales?

The 30/30/30 rule states that you should invest 30% of your EPD (engineering, product management, and design) resources on existing customers, 30% on growth, and 30% on debt.

What is the 10X rule in sales?

Put very simply, the 10X rule is taking any goal you've set for your company or sales team, and multiplying it by 10. So if a goal is to increase revenue by 5%, using the 10X rule, you'd increase that goal to 50%.

What is the 60 40 rule in sales?

The rule is simple — in any conversation, as the person who is conceptualizing, developing, selling or optimizing an idea, you should listen at least 60% of the time; and talk no more than 40% of the time. This may feel a bit counter-intuitive to some. As an entrepreneur, we need to sell others in on our ideas, right?

What is the 5 second rule in sales?

Regardless if you are struggling with motivation, call reluctance, or having a tough conversation with a customer the 5 Second Rule might be a path to get it done. The rule is simple. You start with the decision to take action and then you give yourself 5 seconds to do it. That's it!

What is the 3 second rule in sales?

It takes 3 seconds for your customer to form their first impression of you. In the 3 seconds after that, they confirm or change that impression. This first impression influences their decision about how much time to give you.

What is 3 3 3 in sales?

To strike that balance, use the 3x3 approach. The 3X3 approach says you should spend three minutes finding three relevant pieces of information about a prospect. If you follow these guidelines, you'll still be reaching out to your prospect quickly, but also with enough context to make for a valuable call.

What is the 80 20 rule in sales?

The rule is often used to point out that 80% of a company's revenue is generated by 20% of its customers. Viewed in this way, it might be advantageous for a company to focus on the 20% of clients that are responsible for 80% of revenues and market specifically to them.

What is the 40 40 20 rule in sales?

The dictum is that 40 percent of your direct marketing success is dependent on your audience, another 40 percent is dependent on your offer, and the last 20 percent is reserved for everything else, including how the material is presented. The following is a brief breakdown of the 40/40/20 rule of direct-mail marketing.

What is the 80 20 rule in sales performance?

The potency of 80/20 is that 20 percent of a group is responsible for 80 percent of the sales. So, if you can retain customers or make them more than one-timers, the chances of revenue earned is more. For example, 20 percent of repeat customers are responsible for 80 percent revenues.

What is the 100 rule in sales?

The rule of 100 states that if a product's original price is under $100, a percentage-based discount—for instance, 30% off—will appear more attractive to customers.

What is the 20 60 20 rule in sales?

Spend 20% of resources to sell up, 60% selling right and 20% selling down. These are your bread & butter customers. Your product is perfect for them, and they are perfect customers for you. They will have an immediate need, it will click quickly and there is a clear decision maker.

What is the 95 5 rule in sales?

Understanding the long-lasting impression brand advertising makes is especially important given our research on The 95-5 rule, which shows that 95% of your potential buyers aren't ready to buy today. These 95% are “out-market” today, but will be “in-market” sometime in the future.

What are the 7 circles of sales process?

The 7 steps of a sales cycle are: prospecting, making contact, qualifying your prospects, nurturing your prospect, presenting your offer, overcoming objections, and finally closing the sale.

What are the six steps in a sale?

What is the law of emotion in selling?

People buy with their emotions and justify decisions with logic and facts. Selling is the transference of emotion and belief supported by logic and evidence. Factual information supports rather than drives the decision to buy.

What are the 4 pillars of a good business?

There are 4 vital pillars that every business must have to be successful and optimized. These are Branding, Marketing, Sales and Operations.

What are the 4 market pillars?