How To Close Sales By Them Saying NO | Ep 223

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 24 July 2020

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

No means… Yes? Wait, what? Today, Alex (@AlexHormozi) talks about an interesting way to get clients to say yes to your sale, and why this tactic is not only foolproof but also very beneficial to your skill in sales.

Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.

Timestamps:

(1:45) - Upsells can be incredibly important to the business in terms of driving the bottom line, and profit-liquidating acquisition costs. The trick to getting these sales is to get these clients to say yes by saying NO.

(2:32) - Alex shares an example about earmuffs and coats and how the sales trick works

(5:34) - There are so many ways to use this strategy, but one of the easiest ways to use it is by directly asking the client if this is what they want. By doing that, you automatically close the sale that you just recommended

(8:23) - You can utilize these upsells in your business. Think of it as the fries and coke to your meal, you don’t just make money on the burger

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Transcript

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0:00.0	Real quick, guys, if you can think about how you found this podcast, somebody probably
0:03.8	tweeted it, told you about it, shared it on Instagram, or something like that.
0:07.5	The only way this grows is through word of mouth. And so I don't run ads, I don't do sponsorships,
0:12.2	I don't sell anything. My only ask is that you continue to pay it forward, do whoever showed you,
0:16.4	or however you found out about this podcast that you do the exact same thing. So if it was a review,
0:21.0	if it was a post, if you do that, it would mean the world to me and you'll throw some good comment
0:24.3	out there for another entrepreneur. The point is, is that they would get people to just agree
0:28.4	that they don't want anything else. Welcome to the Jim Seekers podcast where you talk about how to
0:32.1	get more customers, how to make more per customer, and how to keep them longer. And the many failures
0:36.5	and lessons that we have learned along the way, I hope you enjoy and subscribe.
0:42.2	What's going on everyone? Happy Saturday. I want to give you a quick and tactical training. This
0:48.8	is one of my favorite stories of all time from selling stuff. And this comes from the
0:54.9	vaults of Richard Swartz and Mano Swartz Furriers. They're a fourth generation furrier in
1:02.4	Baltimore and they took over the entire market, really the larger like Maryland and Pennsylvania
1:06.8	market, just simply doing the boring work and being better at the everyday things. And so
1:12.4	Richard Swartz, unbeknownst to him, was a mentor of mine in terms of, I just observed a lot of
1:18.2	the things that he did in his business. And I started doing back-up napkin math when I was 17 or
1:22.8	18 and I was like, do this guy. Heels it. And he wants, and I probably can still it.
1:30.0	And there was one, I learned so many things from him, but one of them was getting people to say
1:36.8	no to say yes. All right. So this is a very, very real world tactical tidbit that you can use to
1:44.3	close sales. Now there's a specific type of sell that this really applies to, which is a lot of
1:50.3	times bolt on or upsells, right? And these upsells can be incredibly important to the business
	...

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