Overcoming the Big ‘BUT’

So you’re on the final step of your sales process with a prospect.

They’ve been telling you how much they love your product and service up until now.

They say they really want what you are selling.

Then they say the words you dread…

“This is great, BUT... it's too expensive." OR "Now is not the right time.”

• What do you do now?
• Do you offer a discount?
• Do you explain the benefits again?
• Or do you just walk away?

Objection handling is a key skill that every entrepreneur (and their sales team) should learn, BUT most entrepreneurs don't because they don’t want to seem too “salesy” or pushy. As a result, they’re unable to grow their business to the level they want.

So what is the key to overcoming the objection? It is “coaching,” and I’m not talking about me (although that will certainly help!). It’s about coaching your prospect through their issue and helping them make the best decision for themselves. If you genuinely feel they can benefit from your product or service, it’s up to you to help them see that. If you don’t challenge them, you’re doing a disservice to your prospect and your market.

My suggestion to every entrepreneur is as follows:

• Write a list of the most common objections that you receive. Most businesses have about 3 common objections that they often receive.
• Ask follow up questions. Questions put you in the driver’s seat, and they allow you to understand your prospects on a deeper level.
• Offer a solution to their objection. If you can find a solution to their objection then why would they not want to work with you, right? Be ready with a solution and guide them through that journey.

Here’s an example of how I coach my prospects who initially object to coaching:

Objection from Client	My Follow-up Question	My Challenges to the Question
I don’t have time for coaching right now.	How many hours are you working a week? Where are you spending your time? If you could gain an extra 2 hours a week, what would it mean to you?	One of the first things I do with a client is focus on time management. On average, a client gains an additional 2-3 hours a week from this session. I can work with somebody else in your organization who can implement the strategies.
I need something specific for my industry.	Why is that important to you?	If you look for an industry-specific coach, you’ll get solutions that your competitors are using. By working with me, you’ll get a unique, tailor-made solution. We have the ability to take best practices from other industries and apply it to your industry.
I don’t feel comfortable spending this much on coaching.	What ROI would you need to see to justify the investment?	Let’s discuss the value of coaching and explore if the ROI will pay for itself. We guarantee to bring you results and achieve progress to clearly defined goals.

These are just 3 examples of how I handle objections with my prospects. Whilst I always aim to achieve a balance, being a coach is about challenging clients’ mindsets and setting them up for success. For me, the coaching starts long before a client ever signs an agreement with me.

To your success!

Ali