Learnings from the book.
Every sale is the same.
Despite each individual having differing needs or requirements – whether it’s tangible or intangible that you’re selling, over the phone or in person, there are 3 key things that will ensure you close a sale, or not, on anything you’re selling.
Belfort states these as being the 3 Tens.
Basically these are 3 elements, each of which have a scale of 1 to 10, where this is based on the prospects current state of certainty of buying.
If a prospect is currently at “ten” on the certainty scale, that it means he or she is in a state of absolute certainty at that moment. Conversely if they’re at “one”, then they are in a state of absolute uncertainty.
The first of the 3 Tens is your product.
1. The product, idea or concept.
Basically this means the prospect must be absolutely certain they love your product, and can’t wait to buy it. They think it’s the best thing since sliced bread.
Where any prospect sits on the fence, if they’re 4 or below, then they’re going to need a little influence and persuasion as it’ll mean they think your product or service is someone on the shit side of things and they’ve no intention of buying.
If they’re sitting around the 5 mark, then they’re unsure. And as Belfort suggests, any prospect who is at a 5 – it’s like they’ve a big sign on their chest saying:
PLEASE INFLUENCE ME NOW!
I CAN’T MAKE UP MY MIND, SO PLEASE HELP ME!
The important think to remember here is that, while being at a 5 does mean your prospect is 50/50 on your product/service, it does not mean you only have a 50/50 chance of closing them.
Same thing goes for level 3 and 7. Being a 3, although your prospect thinks your product/service is basically crap, not as crappy as at number 1 mind you, and at a 7, your prospect things your product is great, although not nearly as great as if they were at a 10.
All this said, whatever their presence of certainty is at – is only at that time and is not set in stone, so does not directly translate into a better or worse chance of ultimately closing them. I.E. their current state of certainty is just that – current. It is not permanent and they are eagerly waiting to be influence by you.
Continue on to read the remaining pair of TENs.