If you are like most of the people I encounter in my sales training programs, you likely have some type of fear relating to the sales process. When I pose this question to people in my workshops, the fear of rejection is usually the top concern participants express.
For me, it is cold calling. Prospecting via the telephone has never been a big part of my lead-generation process and it's not something I do with much consistency. As a result, I experience a fair bit of anxiety when I think about cold calling. In fact, on most days, I'd rather take a trip to the dentist than make these types of calls.
What I find intriguing is how debilitating this fear factor can be. Far too many people in sales don't reach their goals or quotas because they allow their personal hesitations to influence their behaviour even when they know it makes good business sense to ignore the fear and push forward. I know from experience that once I pick up the telephone and begin making my calls my anxiety quickly dissipates. Yet, that initial fear and hesitation, often stalls my efforts.
The other interesting insight is that very few people have ever actually encountered a negative experience relating to their fear. For example, when I work with specialty retailers, many people don't suggest accessories or add-on items because they are afraid they will lose the sale. Yet, it is extremely rare that someone in the group has actually lost a sale because they suggested an additional item to a customer.
Another issue that pops up regularly in my programs is asking questions. Most people who sell a product or service know that effective question-asking will help them overcome objections and move the sales process forward. However, many people don't ask good questions because they feel that their prospect or customer will feel like they, the salesperson, is prying.
So, what's the solution?
Unfortunately, there is no quick fix, easy answer to this issue. And that's because everyone is unique and the underlying cause of the fear or hesitation is different with each person. However, here are few suggestions for you.
The most effective solution is push your fear or concern aside and simply do what you need to do. Although this is much easier said than done, it is important to recognize that engaging in the activity that causes you the most concern will help you develop your skill and improve your results. The key is to recognize that it will likely take several attempts before you begin to master your proficiency. However, if you discipline yourself to stay at it, your results will improve and your fear will gradually disappear.
Enlist the support of a coworker or peer. I'm not suggesting that you get that person to do the task for you! However, by working with a partner, you can role-play and practice the scenario that causes you the most grief. When I first started cold-calling, I rehearsed my opening line and voice mail message with a friend to get his reaction. My goal was to sound genuine and conversational and to keep my message short and to the point. After listening, he gave me a few pointers that improved my message.
Another approach is to think of a positive outcome. I remember my first sales call many years ago. My prospect showed interest in the training program I was offering, and not knowing what else to say, simply asked, “Would you like to book a date for it?” My heart leapt into my throat as I said those words. I felt my heart rate increase. And I was sure my prospect would feel like I was being pushy. Imagine my surprise when she reviewed her calendar and enquired about a specific date. Even though I was nervous and scared about asking for her business, it was a natural extension of our conversation and she was not offended by my question. I know from this experience that asking for the sale often yields results.
The fear factor also affects our customers.
Most buyers experience some form of fear or hesitation when making a final buying decision or considering a new product or vendor. These concerns may prevent them from making a decision and may stall the sales process. That's why it is important to uncover their concerns during the sales conversation. I know some sales people avoid this question because they don't want anything negative to come up during the sale process. However, it is much better finding out what may prevent your customer from moving forward early in the sales process rather than discovering it after you have spend a lot of time with that person.
As Susan Jeffers said, “Feel the fear and do it anyway.”
Wagering huge volumes of money in a market as susceptible to change is liable to cause a whole range of opposing emotions; fear, excitement and anxiety just to name a few. Battling against your emotions in order to complete a successful deal is one of the major hurdles, which must be overcome if you are to become a trader able to close huge deals and earn vast sums of money. If you can overcome or even use these emotions to make trades on the Forex then a successful career may be beckoning, but failure to do so will almost certainly cost you a substantial amount of money and end any lingering desires to progress in the busy world of exchange rate trading.
Initiating and closing a trade at the right times are the backbone of becoming a successful Forex trader. If a person cannot execute these deals at the right times, the psychological and financial damage can be crippling. Missing a huge trend or sitting too long on a good price, can be a demoralising experience, but one that many will encounter during a career in Forex trading.
Entering at the right time is just one thing that must be done correctly, but if you are unable to leave at the right time or hold your nerve during the course of the trade, the implications are potentially severe. For example accepting a small loss just before the market rises can lead to a horrendous huge profit/loss ratio margin. Similarly sitting on a currency price that is plummeting for too long could be financially crippling. Understanding the Forex market and having faith in your ability to judge a trend will pay dividends if you hold your nerve, backing out at the wrong time can prove to be a catastrophic misnomer.
The fear generated by investing your own personal money is the main thing that must be overcome. It is the culprit in so many failure stories, people who just couldn't overcome their anxiety investing unwisely, pulling out at the wrong time, missing a rise completely, all result in failure and are caused by fear. Accepting this fear, and using it to your potential will make you a stronger trader, able to trade freely and enjoy the thrill of the exchange. Fighting it will get you nowhere, understanding and overcoming it are the best remedies to this baseless emotion.
Trading strategies will help you ride out the rough times and capitalize on the good ones. Sometimes just taking a step back and accepting a few losses will give you the energy and the knowledge to attack the Forex with renewed vigour, and make some serious profits. Accepting that sometimes you will lose out, you need to be able to take the hits and roll with a punch, there are no guarantees in the trading market, so being able to move on and start again is a skill that is paramount to generating success.
Analysis and charts can only get you so far. You must first master these things, and be able to correctly interpret the figures that are represented in order to spot the trends and make your move. But this all means nothing if you don't have the courage of your convictions. If you are too afraid to buy and not sure when to sell then a glittering career in market trading is likely to elude you. 'The trend is your friend' but it means nothing if you firstly can't spot it and secondly don't have the courage to back it. Knowledge, strategies and overcoming fear may well be the 3 best ways to become to unlock the door to becoming a successful trader. Without all 3 you will more often than not become unstuck, so prepare, practice and evaluate everything before taking the plunge in the complicated world of Forex trading.
Both Kelley Robertson & Michael J Campbell are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Michael J Campbell has sinced written about articles on various topics from Forex Trading Forex, Home Security. Michael J Campbell is an author and webmaster for , a Free Online Forex Trading Information & Resource website. Featuring Education, Live Real-Time Quotes, To. Michael J Campbell's top article generates over 1300 views. to your Favourites.
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