[MUSIC] Last year I was giving a keynote to an architectural firm. The topic was how to have influential conversations. When it came to Q&A, I was asked, what do you do when they say you're too expensive? Good question, I replied. Now what was my answer? How much do you think you're worth? He looked puzzled. I refrained, do you believe you're worth the money that you're asking for? He hesitated. Why are we so scared of asking for money, or for the amount of time we want, or for the resources we need, or for whatever else we need to do our job well? We're scared that we're not good enough. That we won't be able to deliver what we're promising on time, on budget, and to the satisfaction of all who have contracted us. A small proportion of people are not afraid and have total confidence. Objections are normal for them, almost fun. They understand that when you're making a sale, and remember this can be selling an idea or a plan, that 80% of clients will need around five follow-ups before they buy. Whereas, almost half of sales people will give up after the first rejection. Resistance is normal and natural. After all, if we all said yes to everything instantly, the world would be chaotic. We all have competing pressures as well, people and ideas which are in our ear wanting different things. And you rarely have the decision maker in the room, even if they say they're the decision maker. [MUSIC] How do we prepare for the objections which we know are going to come? Firstly, we need to know what those objections will be, then how to deal with them before, during, and after our conversation. Here are the most common ones. This acronym comes from IBM, which had one of the most thorough sales training programs I've ever heard of. You may be familiar with it, BANT. Does your product, service, or idea fit their budget? Does the person you are speaking to have the authority to make the decision? Does your offering fit their needs? And does it fit their timeline? Some criticize BANT as they say the marketplace has changed too much. Often people, companies, and organizations have no idea what their budget is, nor their needs. And even if they say they have the authority, they often want to check it by others. And as for timeline, it's almost always urgent. But if you think about it, your idea will cost something. Someone will have to approve of it. It has to be relevant to what the person or organization needs and it will have to happen at some time. Here are some other objections. They don't know, like, or trust you yet. You don't have enough rapport with them. They don't believe you or they think it won't work. Or it's worked for others, but it won't work for them. They're not committed to solving their problem or getting what they want. They don't know what they're problem is or what they want. And finally, they don't believe in themselves enough. In most cases, people just want to look good or be praised in front of their peers. They want to be reassured that the solution you're offering will solve the issue and save their world. That's pretty much it, you will have other objections specific to your industry but those are the main ones. Now you know what the objections are likely to be, the next question, of course, is how can you deal with them? [MUSIC] So many times I've heard people say, I hope they don't ask us about this. And I don't know what we'll say if they challenge us on that. You need to prepare for every single one. Next week, we'll look at the 30 questions to answer when you're selling anything to anyone. However, there are some things to consider right now. They're called the five Rs. Reframe, first of all, reframe it for yourself. When people are objecting, it's because they're seriously considering your idea. It's a good thing. Rejection, know that as human beings we're afraid of being rejected. So have a little pep talk with yourself, you're okay, they're okay, everyone is okay. Zig Ziegler, one of the top sales trainers in the world, used to say before making any sale, I like myself, I like myself, I like myself. It worked for him. Respect, you wouldn't respect them if they didn't ask questions or come up with obstacles and challenge what is being presented to them. You'd do exactly the same. Reassurance, they just want reassurance that they're making the right decision. That they'll have enough money, that you'll be able to pull it off, and everyone around them will be happy, that's all. Reinforce, the person with the most belief wins. Get clear on why your offering is crucial to what they need and want, know how it will solve their biggest problems, and let them know with as much empathy and conviction as possible. Finally, BATNA, Best Alternative To Negotiated Agreement. Always have another way to solve your problem or meet your goals. That way you're not desperate and can make objective decisions. Well, as objective as possible. Otherwise, you may concede too much just to get a yes. It's like buying a house, if you find one that you love, you should know that there will be others that you'll love too. That perspective helps you win bidding at auction, otherwise you may overbid and put yourself under unnecessary pressure. In business, looking at other options to get your outcome before going into the pitch will make you more relaxed and more able to get what's important to you. In the next lesson, I'll give you some super powers which will make dealing with objections super simple. Coming up, we'll look at techniques to overcome the objections, even the money one. Let's make objections fun. [SOUND]
