You may not have the title of a salesperson, but you’ve been selling your whole life. Parents spend countless hours trying to sell their kids on making their bed, doing their chores, and studying for tests. Entrepreneurs spend significant time trying to convince the right people to believe in their idea, so they can gain traction and advance their business. The bottom line is, all of us, regardless of your job or influence, do some type of sales almost every day.
And here’s the catch – “every sale is the same.” At least in the words of Jordan Belfort.
And after reading his book “The Way of the Wolf- Straight Line Selling”, I believe he’s on to something.
Now, obviously, there’s a difference between a million-dollar sale and a one-dollar sale. I would be ecstatic if I landed a seven-figure deal for my business and would be extremely disappointed if someone were to offer me an old, scrunched up dollar for my service. However, what Jordan wants us to learn in his book is that the process of selling, not the end result, is always the same. From the opening to the close, the order which we sell should be the same if we want to take our sales success to a new level. This pertains to everyone, from the 40-year-old Mom of three to the starry-eyed young entrepreneur.
Jordan’s Straight Line Method is easy to learn and easy to use. The system emphasizes goal-oriented communication where the end goal is always the same: raise your prospect’s certainty to a high enough level where they will want to buy from you.
Here are the steps you need:
Step 1: Take immediate control of the sale.
You only have a few seconds to do this (four to be exact), so be smart about what you say. The whole purpose of taking control right away is so that you can start asking questions.
Step 2. Gather massive intelligence.
This is done by asking smart questions. You want to come across as someone who can be trusted by using the right tonality and body language. No one wants to buy from someone who is nosy or simply looking to make a sale and get on with their life.
Step 3. When they respond to you, you build massive rapport.
This step is more in the prospect’s hands, but it’s important you respond well. Look them in the eye, nod your head, and actually listen. I know it’s already been a long day, and you have three more meetings still to get to, but how you respond to them will determine how they respond to you.
Step 4. Transition.
“Based on what you said to me this is how I can help you…” Now, is when you incorporate the intelligence you have gathered from your prospect into your sales pitch.
Step 5. Presentation.
Use what the prospect has told you, which is their pain points, and clearly articulate to them how all the features and benefits of your service will help alleviate their pain.
Step 6. Ask for the order.
Too many people are scared to ask for the order. And when they finally do, they simply give up when they hear “no”. In the words of Jordan Belfort: “The sale does not begin until you hear the first no.”
Step 7. Deflection (aka smokescreen for uncertainty).
Okay, so you heard the words “no”. Time to roll up your sleeves and play ball. Never address your prospects deflection head. Instead, say something along the lines of “I understand what you’re saying, but let me ask you a question, does the idea make since to you?” Your prospect’s answer to this question will set up how you are going to loop back into the sale.
Step 8. Looping pattern.
The goal here is to use the information you gathered from your prospect’s “no” and loop back into the sales process while addressing their uncertainty.
Step 9. Lower your prospect’s action threshold.
An action threshold refers to the preset level of certainty someone has to be at before they say yes. The lower someone’s action threshold is the more likely they’ll buy from you. Some people will buy any bell and whistle out there, while others are tough as a nut to crack. But, don’t give up when you encounter a prospect with a high action threshold. If you’re able to crack them, they can become some of your most loyal customers.
Step 10. Raise your prospect’s pain threshold.
You learned your prospects pain points when you gathered intelligence and when you responded to their deflections. Reminding your partner of their pain points will not only increase their desire to buy from you, but it will also create a sense of urgency that they need your product…now!
Step 11. Create customers for life.
Congrats, you closed a sale! But the sales process is far from over. It costs way more to acquire a customer than to keep one. Keep using the Straight Line system and watch your customers LTV soar.
Jordan Belfort created the Straight Line System to help simplify the sales process and turn a prospect into a customer and then a lifetime customer. As a young entrepreneur trying to gain an edge in the business world, it is refreshing to learn a sales method that is so simple, yet effective.
As Monday rolls around and you embark on your sales journey, just remember, whether you’re selling an Apple computer to Bill Gates or trying to get that cute girl at the gym to go on a date with you, every sale is the same.