Lecture Notes: Reasons People Don't Buy

Introduction

• Challenges in selling: Personal anecdote of struggle in initial sales.
• Relevance: Aimed at those experiencing difficulties in making sales.
• The focus of lecture: 8 reasons why people don't buy from you.

1. They Don't Believe You

• Self-belief: Important for convincing others.
• Energy and Authenticity: You can lie with words but not with energy.
• Decisions vs. Choices: Decisions are commitment-based; choices are flexible.

2. They Don't Understand

• Communication: Miscommunication can lead to misunderstandings.
• Clear Messaging: Avoid buzzwords, jargon, and ensure everyone understands your definitions.
• Filters: People translate your words based on their past experiences.

3. Commission Breath

• Desperation: People can sense desperation, making them pull away.
• Human Nature: People desire what they can’t easily have.
• Sales Strategy: Don’t force a yes; be indifferent to the outcome.

4. They Don’t See the Need

• Perceived Need: Not everyone needs what you’re selling.
• Delusions in Sales: Assuming everyone needs your product is misguided.

5. It's Not Worth the Money

• Value Perception: People pay more for higher perceived value.
• Intrinsinc vs. Perceived Value: The former is utilitarian, while the latter is status-based.
• Examples: High-end cars, luxury brands like Louis Vuitton.
• Value Proposition: Focus on uncovering value rather than lowering the price.

6. They Haven’t Counted the Cost

• Cost of Saying Yes and No: Show both angles; people should know the cost of not buying.
• Value Before Price: Always reveal value before the price.

7. They Didn’t Participate in Your Presentation

• Interactive Sales: Lead sales as a dialogue, not a monologue.
• Engagement: Ask questions, encourage responses to increase buying likelihood.
• Examples: Type in chat for online presentations, ask for repeated statements.

Conclusion

• Application: Following these principles can dramatically increase sales.
• Encouragement: Fix any of these issues to see improvements in sales.

Summary

• The lecture provides practical insights and actionable steps to overcome sales hurdles by understanding the reasons why people don't buy.