Article by Wendy McCance
My favorite show is Shark Tank. I love watching what people are pitching and how they try to get a parnership with one of the sharks. The best part of the show is watching the sales skills these people use to close a deal. Maybe it’s the salesperson in me, but I do spend an awful lot of time yelling at the television when I know a person is about to blow it.
Tuning in to watch this show has been incredibly valuable for me. It’s helped me to hone my own skills simply by sitting back and watching a pitch unfold. I have learned some valuable lessons that I can use as I build my own business.
Here are the lessons Shark Tank has taught me.
1. Listening to the questions and concerns of the person you are pitching to. It is the most important thing you can focus on. Having a good sales pitch means nothing if you can’t answer the questions and give reasonable explanations about any concerns that might be mentioned. If you can demonstrate that you are paying close attention and can show that you are truly putting your attention on the person you are pitching to, the likelihood that you will establish a relationship is greatly increased.
2. When you are offered what you wish for, grab it with enthusiasm. Looking for something better when you are already offered what you stated you wanted is not only offensive, but most likely will lead to no deal at all.
3. When going into a sales meeting, know your information and state what you are looking for. It’s like any meeting with a prospective client. If you are able to state right up front what you have to offer and why you are seeking them out specifically, you are taking any of the guesswork out of why you are approaching them. A clear understanding of what is on the table and your goals for working together make for a fluid transition into a partnership.
4. If you are spinning your wheels and aren’t moving forward with your business, a serious assessment needs to be done. Success shouldn’t take years of debt and little sign of forward movement.
5. Putting money into your business is expected. Living on the street because you used up all of your money is foolish. Don’t be so short sighted that you lose everything pursuing your dream. I don’t know many people who would want to work with someone because they are showing desperation for a sale either. If you can’t run your life, how can you run your business?
6. Learn as much as you can. There will always be people who know more than you. Many people would make a great mentor as you navigate your way through your career. At the same time, it isn’t wise to depend solely on someone elses experience. Not only does that leave you vulnerable, it will not help you to move forward if you rely solely on others to get you there. Research everything that comes to mind. Take classes. Join networking groups for mutual support. Read, read, read. Don’t rely on others more than you rely on yourself.
What have I missed? What is some of the best business advice you can think of? I would love to hear from you. Share your opinions in the comment box below.
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