Why 90% of Salespeople Fail in 5 Years

Introduction

• 90% of salespeople fail within 5 years in any industry (real estate, insurance, etc.)
• Sales is much harder than most people anticipate
• Intention: To manage expectations and provide tips on how to succeed
• PDF with today's content and additional tips available for download

Five Warnings Before Getting into Sales

1. It’s Harder Than You Think

• Mentally and emotionally challenging
• Frustrations with unreturned calls
• Learning scripts is initially annoying

2. Longer Time to Make Money

• Takes longer than expected to start earning

3. Less Money Initially

• Most attracted to sales by dream lifestyles
• Initial phase involves being underpaid

4. Sleepless Nights

• Anxiety over sales decisions and earnings
• Concerns about commissions and paying bills

5. Societal Pressure

• Questions from friends, family, and spouse about earnings
• Initial phases involve proving oneself to skeptical peers

Tips to Succeed After First Year in Sales

1. Find the Best Leaders

• Seek out top-performing sales leaders in your chosen industry
• Choosing the right mentor accelerates success

2. Mentally and Emotionally Fortify Yourself

• Read autobiographies of people who persevered
• Example: "Endurance" as a motivational book

3. Believe in Your Product

• Sell yourself on the product to enhance your pitch
• Role-playing with a buddy to master overcoming objections

4. Prospecting Insights

• Look beyond immediate customers; identify influencers and referral sources
• Nurture relationships with influencers for long-term benefits

5. Redefine the Salesperson Image

• Great salespeople ask the right questions and listen actively
• Tailor solutions to customers’ needs rather than using pushy tactics
• Adopt a consultative approach rather than a high-pressure sale

6. Importance of Follow-Up

• Confidence in follow-ups builds success
• Statistics: 80% of customers require 5 follow-ups before saying yes, but 44% of salespeople give up after one follow-up
• Keep persistent but smooth follow-ups

Conclusion

• If ready to face challenges, more tips and PDF are available
• Additional resources on referrals provided in a previous video