Success Mindset Secrets About Referrals From Millionaires

Elinor Stutz-Smooth Sale, Success Mindset Expert

This is very special guest post from success mindset specialist, sales expert, author, speaker, top-rated influencer and founder of SmoothSale,  Elinor Stutz.  

Before Law of Attraction became popular, early positivity proponent Napoleon Hill talked about the importance of the success mindset. Later, Jim Rohn and Tony Robbins encouraged people to keep a positive attitude to attract more of what they wanted in life.  The highest paid salespeople know their success depends on surrounding themselves with excellence. And that includes their referral partners.

Here is a harsh reality: The referrals we receive reflect the ones we provide.  A top producing sales strategy is to understand your client’s perspective first, so that you may bridge it with yours to find common ground. And, so the real question is, are you providing the quality of referrals you would like to receive? Are you projecting the success mindset you want to attract?

The norm is for people to make introductions in the hope of making money on the back end.  An old saying heard in the IT field is,‘garbage in and garbage out.’ But what if an outstanding introduction comes your way, will you pay it forward?  Will you project the success you expect to have, even if the result comes much later? Let me share a story that illustrates the better type of connections and referrals.

Years ago, I met Linda at a conference. At the time, her expertise was in marketing and mine was in sales. Since then, we both expanded our knowledge, became authors, and have continued our friendship. We have also provide ongoing promotion of one another.  One day, Linda sent me an introduction to John.  I enjoyed an invigorating conversation with him. John then volunteered a referral to me of his own.

My success mindset of 'paying it forward' yielded a referral goldmine!

The pay it forward conversation was with Greg.  Our initial dialogue was in consideration of my being a guest on his podcast.  Greg then sent me a copy of his book to read. The subject matter was meaningful and motivated me to voluntarily provide a review of the book on Amazon. And I did have the opportunity to be interviewed on Greg’s podcast and share my story with his audience. The conversation was compelling. Afterward, we spoke about working on a potential project together. And I reciprocated the gift of his book by sending him a copy of mine.  The ‘pay it forward’ concept continued as I recommended another colleague as a guest for Greg’s podcast.

When we are in good company, appreciation for one another develops. Admiration brings about ideas for the better referrals and our success mindset expands. Over time, Linda and I became admirers of one another and came to recognize the people that may help each of us further.

Beware that the opposite of providing excellent referrals is that some contacts from our network may find us intimidating. Those of us who  continue to grow, may scare off others in our circles.  Accordingly, unpleasant remarks may come our way.  Take note, because the negativity can creep into all areas of our lives where we allow it.

Our success mindset is determined by the people we are around the most

Consider the type of people with whom you keep company.  Are your peers negative or positive minded people? If your answer is ‘negative,’ do you find these people holding you back or stalling achievement? And if you are among positive people, are you in the habit of promoting and referring one another? If the referral partners you have do possess a passion for excellence, perhaps a change is in order.

Concentrate on those friends and peers who share a success mindset, reciprocate and help one another achieve more. Strive to develop a dynamic network for the better opportunities to come forth.  When you do, you too will enjoy the chain of ‘pay it forward’ high quality referrals.  These lead to the Smooth Sale!

Success Mindset Sales Tips

1. Strive to be in the company of those who like to help

2. Reciprocate and volunteer help

3. Build a strong network of like-minded peers

4. Exchange ideas for promoting one another

5. Make introductions of the same success mindset caliber

6. Report back to the referring party on the merits of the conversation

7. Offer ideas for collaborative efforts to your peers and referrals

8. Share your personal story and vision for where you are today

9. Ask for the personal story of those you meet

10. Celebrate Success!

Success mindset and sales expert, Elinor Stutz

P.S. Send us your sales related questions to elinor@smoothsale.net.

The 4 selling tips small business owners must use to avoid failure

Which steps must you take or face business failure? This post includes the four selling tips small business owners need to follow so they can rock their success. Skip these at the risk of your own peril. Starting and running a business is challenging! Business owners wear so many hats and have so much to do every day. While it's essential for entrepreneurs to do many things well, I'll give you the bullet points for the sales essentials you need to use to ensure success.

(Interested in more sales tips for small business owners? Download this free ebook, “From Cold to Sold” and get 17 sales secrets.)

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The selling tips small business owners are smartest to use are efficient and useful.

Have a selling plan

The importance of having a plan cannot be understated. And the good news is, it doesn’t have to be complicated. Without a plan, all the other selling tips for small business owners are wasted. Author Katherin Peterson famously said, “a dream wihout a plan is just a wish”.

SMB owners can keep the sales plan simple, for a start. Have one place where all leads and customer information is kept. This can be a CRM or an Excel spreadsheet. Create sales goals, even if you’re guestimating. 

Also, have an idea of how many opportunities you’ll need to close to reach this goal. Start with a specific target number of phone calls or in-person appointments. As you close sales, track how many prospects you contact for each sale. It's also helpful for seeing how much follow up is required to close the sale. This is highly valuable data you can use to continue refining your selling plan. 

Know your unique selling propostion

Most likely, you’re famliar with this term. But unique selling proposition (USP) is still too YOU-centric. Like it or not, humans are ME-centric, which means the best way to make your product appeal to your prospect is to make the USP about THEM. This comes down to what does your product or service do for your client? A “value proposition” is the customer-centric version of the USP. 

Don’t even pick up the phone until you have a clear understanding of what your service or product does FOR your customer. What pain does is alleviate? Which problem does it solve? How does it remove fear? Understanding the value your offering delivers to prospects is essential to grabbing and keeping attention. No one has any interest in hearing descriptions of a product when they see nothing in it for them.

Sales techniques that focus on the prospect

Listen to customer’s needs

Asking questions and listening is powerful for building rapport and for discovering your customer’s needs. More about how much about the prospect your selling process must be. And guess what? People love talking about themselves, so getting your customers talking is easier than you might think.

Listening to customer needs also serves to further qualify what’s important to them and how they want to communicate. Which provides invaluable insight for tailoring your offer specifically to what your potential client wants. Thus increasing your likelihood of closing this sale.

Ask for the sale

Sound ridiculous? You’d be surprised how often this doesn’t happen. A common challenge facing small business owners is fear of rejection. Actually, this is a common problem for even the most seasoned salespeople.  Toss that fear of rejection out the door. If you’ve done a good job of qualifying your prospect, then you know if they have a problem you can solve. Simply ask if they want you to help solve it for them.

These are the top 4 selling tips small business owners need to use to ensure success. The list of others sales and customer retention techniques and  is endless, but these are the most important ones, in my opinion.

13 powerful strategies to increase customer retention

Question: What is the source of highest profit sales? Most likely, it's your current and past customers. Next question: What is your customer retention process?

You've already attracted these customers to your brand, built the know, like and trust factor and earned a purchase from them. You successfully converted a lead to a paying customer. And it cost you money to do that. Maybe a lot of money. How much less expensive is it to keep good customers than acquire new ones?

Download the free Lifetime Total Customer Value calculator so you can get the maximum ROI from each customers this month.

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A good customer retention plan has amazing ROI.

In an article posted on Entreprenuer.com, Eric Sui said,  "According to Bain & Company, it costs 7X more to attract new customers than it does to keep them. Additionally, if you retain just 5% of your customers annually, you can generate up to 125 percent more profits. Retention strategies truly pay off in the long run and help you build a sound business over time."

I've outlined 13 keys you must have for your customer retention funnel to be effective so you can score more sales.

1. Make retention a top priority.

Prioritize the highest ROI activity your company does, which is most likely customer retention.

2. Measure life time value of customers.

Determine the life time value (LTV) of your average customers. The additional purchases, upgrades, replacements and referrals they send to you add up to a much bigger dollar amount than just the first purchase they make. Download this free LTV calculator here.

3. Provide amazing customer service

Have you noticed that even the cable companies want to "delight customers"? They finally get the importance of keeping current customers happy because it's way less expensive to keep customers than to acquire new ones.

4. After the sale nurturing

Create a system for following up after the sale at regular intervals. Depending on your business, that may be a week after the sale or a month. Pay attention to how your customers are engaging with your brand, it's product and services. Respond quickly to customers. Always. A good customer retention funnel has as process that everyone who touches the customers uses to continue nurturing the relationship after the sale. Continue delivering high value content and service and you'll score more sales.

5. Budget for customer retention marketing

Since the ROI on keeping customers is so much higher than on acquiring new ones, it makes sense to assign some budget to marketing efforts aimed at retention.

6. CRM

Without a good CRM, your customers may be on the business end of an ill-timed phone call from an inside sales rep pitching an upsell, when that customer is currently threatening to leave if a dire problem isn't solved. Not a good customer retention play.

Since the beginning of CRM time, having a 360 degree view of the customer so that companies could avoid this type of mistake has been the goal. You can't manage an effective customer retention funnel without a good CRM.

7. Communicate frequently

Your customers want to feel valuable after they've spent money with you. Communicate with them frequently to show you care. Birthday greetings, holiday messages, news and updates are great ways to show them you care. Remember to only email customers who have opted into your email list.

8. Engage on social media

Social media is the equal opportunity soap box everyone can use to rave or complain about their experiences with a company. Monitor social media and quickly respond to any complaint. Also, quickly thank customers who sing your praises. You can also use social media to ask your customers about what's important to them and nurture relationships.

9. Convert complaints into opportunities

Everyone remembers the companies that handle their complaints with such concern for making the situation gone wrong into an experience that feels right. It's interesting that what's memorable is how great it felt to the customer that the brand went above and beyond to solve the problem, and not what went wrong in the first place. Be a hero to your customers when they complain and watch that same customer become your advocate.

10. Create a customer loyalty program

Rewarding customers for their patronage is a great way to develop their loyalty. Provide added value, special promos or offers that your customers want. The rewards need to be easy to earn and redeem. Keep things simple. Score more sales by rewarding your current customers and nurturing them to send referrals.

11. Host an event

Show your customer appreciation by hosting an event. An open house, after hours event or guest lectures can provide powerful incentives for your customers to spend more time with your company. Having fun and feeling valued has a way of bonding people tighter together. Events work whether they are virtual, like a podcast or live, like an open office social gathering.

12. Corporate social responsibility

Many customers choose to buy from brands that give back over brands that don’t. If your company already has a corporate social responsibility (CSR) program, share progress and successes with your customers. If not, get one. Select a cause that is consistent with your brand and aligns with your customers’ values and interests.

13. Upsell and resell

Since you're paying attention to how your customers are using the products or services they purchased from your company, you'll know what's important to them. When the time is right, offer and upgrade or replacement product that has high value and will help your customer achieve their goals.

Email marketing with calls to action and free demos or trials, just like regular marketing campaigns. Incent the customer to try new add ons, upgrades and eventually replacement purchases, in some industries.

Why getting referrals is harder than ever - how to get them now

Getting referrals is harder than it used to be. If 87% of happy customers intend to refer, why don't they? What happened? Media changed, culture changed and how people interact has changed. We receive 105,000 words in 12 waking hours- 23 words per second! With 34 gigabytes a DAY coming in to us, our brains are full. People have a hard time remembering everything they need to do for their own business. So they can’t remember to do something for your business too. Like send you a referral. And this is the problem – Getting top of mind awareness is harder than ever. The solution is to have a simple process for asking for referrals - and use it.

Download my free 3-step plan for getting more referrals.

We are competing with more messages than ever. Even when people INTEND to refer, they often forget. Successful businesses use an easy to follow process to convert those good intentions into sales.

Getting referrals isn't just good for our business

Here's the thing about getting referrals - it's a way people give too. People love to help other people. And they love being a go-to resource for their friends. Who are we to deny them the joy of sending their friends to us?

People naturally enjoy connecting with others we know, like and trust. We rely on our relationships with others for referrals and recommendations. We feel good about ourselves when we help each other and when we are a resource others seek for recommendations.

In his blog post, "87% of your customers will give referral, if you just ask", Michael Boyett suggests asking "for a specific introduction. Example: 'Bill, I’ve wanted to connect with Martha Smith but haven’t had much success. You mentioned working with her. Would you be willing to introduce me to her?'

You know Bill knows Martha, so you are not wasting Bill’s time, but asking to connect. Think of the time and energy you’ll save."

Ask for the introduction and if it's appropriate, ask for the referral. Embed this into your customer experience and watch your business grow.

Whatever method you use for getting referrals, I encourage you to include these key elements:

• Commit to consistently executing the plan
• Hold yourself accountable
• Regularly evaluate your referral process and improve it

Entrepreneur Success Starts with Step 1 - Respect

Part 1 of 5 in the RAISE Sales System blog post series for entrepreneur success. Are you an entrepreneur who struggles with sales? If so, you're not alone. Entrepreneur success requires strong sales skills and this struggle is a common problem that many business owners have. Entrepreneurs wear a lot of different hats and for most, selling isn’t their strongest skillset.

One of the secrets to entrepreneur success is knowing how to ask for and close the sale. In this 5 part blog series, I’m going to share my signature sales system, RAISE.  I created this 5-step strategy RAISE from my 25+ years of experience across multiple industries and teach it in workshops and when doing sales coaching with clients. This is the sales process entrepreneurs and sales professionals use for dramatically increasing sales.

Download free ebook "17 Sales Hacks to Close More Sales"

RAISE is the word that is spelled out by the first letter of each of the steps in the system. This post is about the first step and each post in this series will reveal subsequent steps in the RAISE system.

The R in RAISE is for respect and I love starting with respect because this is where a relationship building begins. This is where developing the know, like and trust factors starts, so you can advance to asking for the sale.

Entrepreneur success secret #1 is Respect

You can’t close the sale if you’re no longer in the conversation. Respecting the prospect will keep you in the conversation longer than asking for the sale before they are ready to buy.

First of all, respecting where the customer actually is, and not where you wish they were in the buying process is vital to entrepreneurs success. It's super essential to be aware of where your prospect is where their heads at what they care about where they are in the sales or buying process.

Two Ears and One Mouth for a Reason

One example is at a networking event or a party. You have connected with somebody and they did most of talking, while you do a lot of listening. At the end of the conversation, they say, “You're a great conversationalist!” And you think to yourself, “I said so very little and you did all the talking!” There's a reason people say we have two ears and only one mouth for a reason:-)

Why is it that the person who did the listening is a great conversationalist? Because human beings love to feel heard. When we show consideration for people and actively listen to them, they FEEL respected and valued. Plus, we find out what is important to them and that knowledge fuels our own entrepreneur success. All of this goodness also allows us to build the know, like and trust factors.

Success Story Using Respect to Sell

Now I’ll share with you an example of how amazing the Respect step is for entrepreneurs to succeed. In the late 80s, I sold construction equipment in Florida, working for the only companies in the country that had female sales. I was calling on construction sites throughout Southwest Florida and I wasn't always welcomed. One general contractor was using the old-style, less cost effective and more dangerous scaffolding on a project that was a prime candidate for using a boomlift. He wasn’t interested in hearing about a new technology solution from a woman who he perceived didn't know anything about construction.

How I Cracked the Tough Prospect

If I was going to have any shot at selling this customer a boomlift, I knew I needed to get creative. I realized I needed to respect where he was, no where I wanted him to be.

Since I knew he felt competent as a general contractor, I asked him about the project. He was happy to talk about it. After listening, I offered to deliver the boomlift the next day at no charge to him. If at the end of the day, he found the equipment effective, he could keep it and pay only for the rental for the rest of the time he used it. If not, I’d pick it up and charge him nothing. No risk for him.

When I called this customer at the end of the day, he told me I could leave the boomlift.  I had the sale without ever asking for it. What is important to know, is that I respected where this customer this prospect was and stayed in the conversation. When building a relationship with a prospect, starting with respecting where they are and what they value is the best first step. R is for Respect and entrepreneur success depends upon it.

Download your free eBook "From Cold to Sold" and get the 17 secrets for converting more leads to customers.

Follow up is the gold - From cold to sold to convert leads to sales

Nice to meet you, now what. The steps you need to take to follow-up and convert those new contacts into customers produce the gold.

Well done. You went out there and connected with some new people. Networking can feel daunting and you did it anyway! And, now what? What's the secret to converting that new contact into a referral relationship or customer? Knowing what to say and how to say it without sounding cheesy can be a challenge too.

Download this free eBook to get more ideas on how the pros follow-up and get more customers. "From Cold to Sold" 17 sales secrets for converting more leads to customers.

If you need to repeat it, automate it, as they say. So here’s the 6 step process I use and can recommend for you.

Follow-up is SO valuable for converting sales

1. Always send a quick thank you email or text the same day or the next day at the latest. This shows respect for the other person’s time by prioritizing a follow up to the conversation right away. It is more important to send this quickly, rather than for it to be a comprehensive or long email.
2. Be yourself. Authenticity is always a good approach. To pretty much everything. So, it's not surprising that follow-up emails are no different. Since people feel good when you listen to them, include something key you heard the contact you just met say. Use your own “voice” and keep it professional. That doesn’t mean uptight, just respectful.
3. Make a positive observation about the person, company or project that this contact mentioned. For example, comment on how you can see this work achieving the goals or being successful. This is more good evidence of your effective listening skills and which creates the know, like and trust factors
4. Summarize the action items you agreed to do and include any you can in this email. So, if your follow-up action requires more time or a separate email, outline how and when you will complete it.
5. Thank your new contact for the action items they offered. Because appreciation is always smart and it can be a helpful reminder to busy people who’s intentions are good and who’s schedules are full. They feel valued. And that is more know like and trust development:-)
6. Connect with your new contact on LinkedIn, Twitter and perhaps Facebook. You’re building your network and broadening that connection to social media channels is too important to miss. 

Ready for more ideas on how to use follow-up to close more sales?

Need more customers? Download free! "From Cold to Sold", the ebook with 17 secrets for getting more customers.

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Now that you know the 6 steps to turn your follow-up into gold, go out there and convert more sales!

Do you have suggestions for making the follow up after making a new connection even better? Bring it! I’d love to see it, so share your comments below.

The 1 social media thing to do today to grow your business

How to get social media focus – We are faced with endless options for posting on several social platforms.

Easier said than done, right? Raise your hand if you feel overwhelmed by social media sometimes. It’s SUPER common!

There’s so much we CAN do on Facebook, Twitter, Instagram, YouTube and LinkedIn (to name a few social platforms) that entrepreneurs can feel paralyzed, like a deer in the headlights. How do we get social media focus?  Building a network of referral partners is one smart use of social media.

And this can be a really good use of your social media time, depending on your business. Download my free 3-step plan for getting more referrals.

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Just because we CAN do it, doesn’t mean we SHOULD do it. The key is social media focus. I like to use lists to visualize and prioritize my tasks.  Whether you like lists, graphics or some other way to organize your "To Dos",  I highly recommend you do that so you can get clarity on what social media activity is most important for driving growth for your business. What’s the one thing you can do that will attract more customers today?

I’ll give you some help. You’ve heard it said often that brands need to deliver value with their content. That’s true, no matter what form the content takes. Social media is included. Entertain, inform or do both is the content marketing credo. Since the goal of content is to build the know-like-trust factor, I suggest you run each post you’re considering through that filter.

Does the social post help audiences to know, like and trust you? If so, is the content valuable and/of entertaining.

My suggestion is to put all of your social media focus on post ideas. Look through these filters and then you’ll have a short list of good branding, rapport-building and value-adding content. Once you have the short list, review it to determine which social post is most likely to attract new clients. That’s the one to post.

Declutter your mind and calendar by focusing only on this one post. Use your favorite social media management app (I use Hootsuite) to optimize when you post on each social platform. Remember to answer questions and like and reply to comments to get the most mileage out of your post too.

Download my free 3-step plan for getting more referral

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