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Hello, everyone! My name is John McGrail, my worst impulse purchase was a speed-reading course that you had to read to finish, and I believe that if you’re not learning, you’re not living. I never finished that course because it took too long, and today I’m talking about turning myself into a full-time salesperson.
So, what’s today’s fun fact? Well, I’m talking about salesmanship today so let’s take a minute to talk about door-to-door salesmen. The history of the trade goes back as far as the history of our union. In the early years in America, The “Yankee Peddler” walked or rode from door-to-door or farm-to- farm. They sold items like pins, needles, hooks, scissors, combs, small hardware, and perfume. Those who walked carried their goods in tin trunks slung on their backs by a harness or leather strap. The more prosperous used wagons. The older direct selling companies are well known, with names like: Amway, Fuller Brush, Mary Kay, Shaklee, and Tupperware. Direct selling means low overhead and offers customers a chance to test, touch, and taste a product before buying. However the key to success appears to be the enthusiasm of the consultants who use and believe in the products they sell. It’s also about interaction and socializing, especially for those companies that emphasize the sales party as the primary selling vehicle. The industry received a big boost from Warren Buffett. In 2002, Berkshire Hathaway purchased Pampered Chef, which markets house and kitchenwares. Doris Christopher founded the Pampered Chef in the basement of her Chicago home in 1980. The stay-at-home mom had a simple idea: offer professional-quality kitchen equipment directly to consumers through in-home cooking demonstrations performed by a sales force of “kitchen consultants”. Let customers see how the product works, try it out, and taste the results. Reportedly, Mr. Buffett’s company paid Doris Christopher a cool $900 million. Not bad for a former home economics teacher.
Well, there’s no sales experience needed to be part of the Friday Forum—just a willingness to share what you have been learning with me and the rest of the Stuff I Learned Yesterday community. You can add your voice to the Friday Forum in several ways—by calling 3048372278 and leaving a voicemail, by going to www.goldenspiralmedia.com/feedback and uploading an audio file, or use the provided speakpipe widget; or, you can type out an email and send it in that way.
Now, here’s what I learned yesterday:
I became a door-to-door salesman in April of this year. The investment firm that I joined believes the key to success is getting yourself in front of as many people as possible and using the law of averages ideally you’re going to gain clients directly proportional to how hard you get after meeting and being with people. It’s really a neat set up when you think about it. I’m essentially an entrepreneur who’s building his own business using products that are built and maintained by some of the smartest people in the industry. My job is build relationships, fit the product to the client, and keep the relationship concentrating on the long-term goal of what investing can do. There are plenty of statistics that show if you continually build your savings and use the gift of compounding interest that anyone can be a successful investor. The trick is not panicking when the economy goes through its typical tumbles and stumbles. The key to building and maintaining a successful practice is sales.
A lot of people cringe when you bring up the word sales. My expectations are to meet and introduce myself to a certain number of people every week. It’s my job, it’s how I will hopefully build a successful practice and provide for my family and for our future. Along the way I have been sharing with a lot of people who have known me for a long time what I’m now doing and what do you think is the most common response? “Man, I could never do anything like that.” I smile and say it might be easier than you think. Now, I am not someone who can talk anyone into anything. I do not claim to have a natural gift of salesmanship. But I do wonder at folks who tell me they could never do it at all.
My first experience in sales was probably in elementary school. Every year we would hold elections for student body officers, and the coveted role of safety patrol. Safety patrol was the coolest thing ever. You got to wear a belt and shoulder strap that came across your front that had a real badge on it. It was shiny, it was metal, and it screamed authority. You got to stop traffic with this thing and grant permission for kids to walk across dangerous walkways and get to their class in the morning or to the bus in the afternoon. I saw the badge and I wanted it! I saw other kids every day the previous year and I knew that I could stop traffic like nobody’s business and I could get my fellow classmates where they needed to go while the fireworks of my awesomeness went off in the background. Well, insert the record scratch noise here to interrupt the dream sequence. I went after the role with gusto. I talked to everyone to vote for me to be on safety patrol. I learned my first lesson about salesmanship the hard way, as I was not voted to be on the safety patrol. You see, I was thinking about me the whole time. I wasn’t really concerned about anything besides me wearing that badge and even my fourth-grade cohorts knew it. You can’t be a successful salesman concerned only with what you’re getting out of it. My firm believes and practices that today as well. Take care of your client first in all situations and you as the salesperson will be just fine.
I’ve had a great time meeting and greeting my neighbors in a whole new way. I knock on the door, tell them that I’m introducing myself to the neighbors, and letting folks know of my new practice with the firm. I tell them that I’m interested in getting them in a better position for retirement, sending their kids off to college with as little debt as possible, make sure their families are well covered in the event of a catastrophe. As you can imagine I get all kinds of responses. Some won’t even open their screen door so I’m literally yelling this entire introduction through the glass while trying to smile. Some open the door, step out and greet me, and engage in conversation. Investing can be an intimidating world and I understand that. Folks don’t generally like to admit what they don’t know or aren’t confident. Some are already working with someone and that’s great. Some think they can do it themselves and I wish them all the best. For those that want professional assistance from someone that will be invested in their goals and help them achieve the rewards of their plan, I am here and available. One very nice gentleman opened his door, I gave him my intro, and he smiled and said “Oh, that’s great. I was a broker from ’86 to ’90. I lost my butt totally. Good luck!” and closed his door. You win some, you lose some, move on to the next one!
Now, here’s what I learned:
We’re all in sales. From elementary school it was putting myself out there to be an officer in our high school service club. From there it was selling “me” to a college to get in. It was creating a resume, it was interviewing for my first professional job. As the head of a successful credit union a large part of my role was marketing new products and services, which is another way to say sales. If you’re married you’re a salesman! You sold “you” to get the first date, and the next, and on the preposterous idea that you could love, honor, cherish, and obey your spouse in a selfless way every day until you die! Thankfully there are days, even seasons, when one of you takes up the slack of the other and carries things for a while. When people are shocked that I am going door-to-door looking for clients I simply ask them what they’re trying to accomplish right now. Are you trying to get a promotion at work, are you in school to get a first or other degree, are you trying to win that person that your heart holds like no one else? That’s sales. We’re all trying to define our worth to everyone around us for many reasons. Don’t hinder yourself by saying I can’t be a salesman and remember, the goal of sales can’t be all about you and what you can gain or you will never truly be satisfied. “Do all the good you can. By all the means you can. In all the ways you can. In all the places you can. At all the times you can. To all the people you can. As long as ever you can.” This quote by John Wesley is how I want to go about sales. And the rest will take care of itself.
I’m John McGrail, and this has been Stuff I Learned Yesterday.
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