THE PERFECT SALES EQUATION APPLIED

Several years back, probably around March 1997, I bought a number of books from the knowledge ship DOULOS when she docked in Manila. Among those books was Richard Carlson's "Personal Selling Strategies for Consultants and Professionals". Over the years, this particular book was borrowed several times by friends and their friends and their friends until it eventually went AWOL. From notes I have made while this book was still with me, there is this one particular equation, The Perfect Sales Equation, that I have taken to heart and have, in fact, applied in most of my sales and business efforts. Very briefly, I would like to share with you The Perfect Sales Equation and how this equation can be applied in any small business.

Simply put, the Perfect Sales Equation states that selling is a 2-step process:

• First, you MUST verify what your prospect really needs and make your prospect feel the loss or inconvenience of not addressing that particular need. This opens your opportunity to sell.
• Second, based on your prospect's verified need, the solution or proposal you present MUST have a benefit your prospect can verify or quantify either through credible testimonials or statistical data. And you also must make your prospect feel how much better his life will be if he buys your product or service. Your proposal should answer the question, "Why should I buy from you?".

To illustrate how the perfect sales equation is applied, if for example you sell life insurance policies, you must first conduct a needs analysis with your prospect to verify out how much life insurance coverage your prospect still needs. You then make him feel the consequences of not having adequate life insurance coverage such as his kids not being able to finish college or his home being foreclosed should he meet an untimely death without adequate life insurance coverage. After your prospect realizes that there indeed is a need, you now have the opportunity to present a life insurance quotation showing how much benefit he can leave behind for his family. You make your prospect feel secure that his family will go on living comfortably and not be left out in the cold should he suddenly die. You have given your prospect the reason to buy from you.

The perfect sales equation can be applied in practically whatever type of small business you operate. Whether you sell homes or build boats, keeping this simple equation in mind and applying it in selling your small business can greatly improve your odds of closing more sales.