Summary: How To Master the Art of Selling – Tom Hopkins

The “It-Isn’t-In-The-Budget” Close. “Of course it isn’t. That’s why I contacted you in the first place. I am fully aware every well managed business controls its money with a carefully planned budget. But am I right to assume that a productive and progressive company like yours uses a budget as a guideline rather than as an inflexible anchor? In other words, you as Chief Executive retain the right to flex that budget in the best interests of your company’s present and competitive future, isn’t that right? What we have been discussing is a product that will give both an immediate and continuing competitive advantage. Tell me, Mr. Chambers, under these conditions, will your budget flex or is it an anchor?”

The Reduction To The Ridiculous Close.
Find out how much too much it is: “Today, it seems most things cost more than we expect them to. Can you tell me about how much too much you feel it is?”
Establish how many years they will enjoy the art: “My thought here is that we should be careful to put this into its proper perspective. Lets say you’d own this for five years.”
Divide the amount by the number of years they will own it: “Let’s see now. $1,000 divided by five years would be $200 per year, wouldn’t it?
Divide the yearly amount by 50 weeks per year: “$200 divided by 50 weeks per year would be about $4 per week, isn’t that right?”
Divide weekly amount by 5 or 7 days: “Do you think we should let $4 per week stand between you and the benefits your company will enjoy? By the way, which delivery date would best suit your schedule

You develop your own closing instinct by making yourself close too soon and too often. Start using test closes to gauge your chances of closing.
Test closes are special questions, the answer to which shows the prospect has a high level of interest and they are happy and excited to go further.
Some test closes are:
The Alternative Advance Test Close. “Mr. Prospect, which delivery date would be best for you, the first or fifteenth?”
Erroneous Conclusion. You listen for a preference, and later in the presentation, you mention this area again making a deliberate mistake. When the prospect corrects you, say “Let me make a note of that” and write the answer on the order form.
Porcupine. Prospect: “Does that system come with a multiplex unit?” Champion: “Do you want your system to have one?” When they say yes, they’ve bought.
Crash-And-Burn Test Close. Prospect: “Do you have it in blue?”, Champion: “Would you like it in blue?”, Prospect: “Yes.”, Champion: “Let me make a note of that” and write it on the order form.