The Sales Roadblock
Estimated Lesson Time: 4 minutes
At some point, in every salesperson’s career (remember that we are all salespeople in one way or another), a “roadblock” is hit. This is when a product is just not selling or at least not selling as well is it can be. At this point, many salespeople give in and start to blame elements that they cannot change—as in the price or the product. When businesses hit this roadblock, they start blaming elements that they cannot change—as in the “market” or economy. In reality, there is usually one or more elements that the salesperson or business can change that can knock down the sales roadblock. The key is to ask the right questions.
One of the most common business mistakes that can quickly lead to a business’ demise is making the assumption that the problem is with the price. Believe it or not, lowering the price is taking the “easy road” and often just leads to a business model that does not work. It is reasonable to assume that by lowering the price of a product, more will sell. While this may be true, it does not mean that revenues or profits will increase and certainly does not guarantee more sales. Before you make a hasty decision to lower prices, take some time to ask yourself these questions: Where is the problem? Is it with the market, the attitude of those selling the product, the product itself, or the price? The goal is to address the real problem.
The Market. Begin by looking at the market. Is there a need for your product? The product would not have been developed if someone did not believe there was a need at one time. Is there still a need? Did circumstances change? Do you have enough exposure to this market? You can have the best product for the best price, but unless people know about it, it will not sell. Is the product effectively being marketed to the target audience? Does the packaging of the product deliver a powerful enough message to get the prospect to take action?
Attitude. What is the attitude of those selling your product, or if you are selling a product, what is your attitude? Do you believe in the product that you are selling? Do you feel the price is well worth product? To be successful at selling, believing in the product is essential.
The Product. Does the product live up to its promises? Does the marketing material deceive the public into buying a product that is really inferior or is the product as good or better than the marketing suggests? Can the product be improved to be more marketable?
The Price. Finally, after all of the above concepts have been considered, look at the price. Is the price just too high for what the market is willing to pay? If your product is more of a commodity, it is easy to base your price on comparable products. Unique products can be more difficult to establish a price. Keep in mind that it is usually easier to lower a price after a product’s release than to raise the price. Make sure that any price decreases you make can be part of a profitable business model.
The time will come when you too hit a sales roadblock. It is important not to make blind assumptions and do not jump to conclusions. Analyze the market, your attitude, the product, and then the price. Address the real problem, and you can save yourself time, energy, and money as well as overcome any sales roadblock that may get in your way.
Take Your Year To Success To the Next Level
If you like what you are reading, please consider these options in addition to this course. They include a hardcopy of the book and an intensive course with action steps, assignments, and personal coaching from Bo.
- Buy the Book. Year To Success - Available in hardcover, signed by the author. Also available in ebook, paperback, and audio from Amazon.com.
- Enroll in Bo's Life Mastery Online Course. This is a course that covers hundreds of life-enhancing topics that they never taught in school, but should. This is more than a course on self-improvement; it is a course on mastering life.
Some discussion questions (some may not apply to this lesson):
- Have you implemented this idea in your life? How has it been working for you?
- Do you have any interesting stories related to this lesson? Do tell!
- What do you admire most about this person? (success biography days)