My Guest today James White who is a Sales Trainer and Mentor and is the UK’s leading prospect conversion expert. James is the founder of James White Sales Success and Co-Author of Amazon Bestseller, The Sales Genius.
How do you get your business through a recession in a way that it not only survives, but continues to grow? If the 2007 recession felt tough to get through, then Covid has presented an even bigger challenge. Life and business changed overnight for many. What are the secrets to pushing past the darkness and continuing to thrive?
You have two choices during a recession. Let the world consume your business, or consume alongside it. Rather than letting the financial crisis make your business non-existent, use the time to develop your skills, work with experts, or pivot your business if that’s what’s needed. Learn from the best to transform your business to be something that does work and most importantly, create sales.
Have trust in your product or service. The coronavirus outbreak has seen flash sales and huge reductions to try and get people to buy from businesses, or price flexibility for more service-based businesses. If you’re having to do this to get people to buy, then maybe it’s time to have a rethink. After all, you want to have faith in what you’re doing, and if your sales strategy is right, then the pricing of your product should not be in doubt and it should sell for you.
Take a step back and think about you and your audience. Why did you set out creating your business in the first place? What problems are you aiming to solve? Who are your target audience and why are they going to buy from you? Getting clear on these key foundations can then help you create more structure and clarity in your sales process.
The concept of sales has garnered negative connotations over the years. But it’s all in how you approach. If you purely see sales as bringing money in and try to sell to everyone and anyone, then of course there will be some backlash.
James White, founder of James White Sales Success, offers a different perspective on sales, providing a “transform and tribe” approach to sales. Rather than see sales as a way to benefit your life and bring you money, focus on how you are helping other people’s lives and making their world better. These people then become a tribe and a cheerleader for your business. It’s again about taking things back to your core values and solving your clients’ problems to make their lives better. By doing this and reshaping your definition of sales, you can always have your target audience’s interests at heart, and continue to evolve and adapt as your customers’ needs change.
It’s hard to not worry about finances when you are a business owner, especially if it gets to the point when you are thinking will you have enough money to support your family. You want to see those invoices coming in, to be able to do things with your loved ones. That’s why creating a “fat funnel” (James White) is so important for converting leads and bringing in business. However, it should be done from a place of transforming and tribing, rather than trying to bring money in through price reductions and selling to anyone.
A first step to reducing financial anxiety is ensuring you have money saved up, just in case we do see crises like 2020. You want a good three to six months saved up as a safety net.
What’s more, you don’t need to strip back prices and you can still be careful over who you work with. It all comes back to that clarity over what you do and who you are for, and realising that people buy things to benefit them, not you, to improve their lives in some way. From a finance view, make the most of the opportunities that come your way, increase your prices slightly if that’s what will reassure you. If you’ve found your right tribe, they’ll know you’re worth it.
The main takeaways? Move with the times, adapt with the current global situation. Have faith in what you are doing, and understand your audience. Sales don’t have to be some dodgy thing associated with money making. It’s about helping people and staying true to your values.
Scaling of the Sales Success Academy – https://jameswhite.business
LinkedIn - www.linkedin.com/in/jameswhitesales/
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Website - www.jameswhite.business/& https://www.salessuccessacademy.global/
YouTube - www.youtube.com/channel/UCUqzRMkyEC3dLYj5vQtzDEw
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