The Wrap Biz
The Power of NO in Sales Why Reaching Terms Too Quickly Can Bite You. By Matt Richart wrote an article almost four years can then see the big picture. Is your company ago in regard to the power of No profitable? Has your company and sales team and how important it can be for your produced the numbers that you set out to business. As time has passed since achieve? For our company and myself that answer then I have really learned even more was no. I decided to go back and reverse engineer about saying no or even injecting the our entire sales process, products, streams of word “No” in my sales presentation revenue, and what were the highest margin jobs or pitch. Sounds crazy to even utter that we produced. This was one of the biggest the word no in a sales pitch, right? wake-up calls in my wrap career. After realizing When we all start out in business that motorcycle helmets, chrome deletes, mirror or decide to make the entrepreneur wraps, and many other intricate jobs that required plunge we are filled with fear, adrenaline, extensive labor were not in our wheelhouse we excitement, and decided to start a drive to be saying NO to those successful. Even if types of jobs. Let me you are not an owner be clear that many of your own shop of you do these these same feelings jobs and are not - Chris Voss can come into your only profitable but thought process extremely talented. while working for a company. Especially in sales. Our main source of revenue is generated from Some of these feelings while running a business the commercial wrap industry and these other would force me to say yes to almost every job. streams of revenue were killing our momentum My biggest fear was to tell a client NO to a job. and most importantly our bank account. Then we would be out of business down the road Once I was not afraid to say NO anymore and I would regret telling that customer NO. As our margins and sales grew dramatically. if that one job would be the deciding factor if our I have been reading a lot about the power of company would succeed or not. That was one No along with some of the leaders in negotiating of my main fears for years, unfortunately. Once tactics and skills. One of my favorite authors is you get settled into your company’s sales routine Chris Voss. He says “Every negotiation should and can measure sales along with margins you start with a No”. I find that statement enormously
Every negotiation should start with a No.
12 l WrapFam Unleashed l January 2024
