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  • Why People Don’t Buy: No Trust

    Reject Deal photo from ShutterstockIf you have been around the sales and business owner block for a while, you understand the mental strength necessary to cope with rejection. Sometimes becoming numb to the rejection can be both a blessing and a curse. How many times have you submitted a proposal, giving free consults and went through presentations where the person didn’t end up doing any business with you?

    The first few times your company gets rejected for a gig, you probably take it to heart and then put some thought into why the prospect declined the opportunity to work with you. But then after a while you probably become a bit immune to the rejection, and that is when you don’t even bother going back to watch the game tape.

    The four reasons why people don’t buy or want your help comes down to ; No Need, No Money, No Time/Urgency, No Trust. We have already visited No Need, No Money, and No Time. Today let’s look at No Trust.

    No Trust

    When someone buys because they have no trust in you as a professional, it can leave long term, damaging effects on your business. The issue is, not very often will someone come out and say that the reason they aren’t acting on a product or service is because of you.

    The first sign that you lost the deal to “no trust” is if the prospect goes and purchases the same product or service, for around the same price, from someone else. They obviously saw the need, had the money and made it a priority to act on it. What better opportunity to chow down on some humble pie and ask the prospect why they chose not to do business with you. It may take some courage but it will provide the best feedback possible for your business. And that feedback can allow you to get the proper coaching, mindset or attitude to capture future business.

    Trust in doing business really comes down to the prospect feeling as though you are competent, dependable, and operate with a high level of integrity. If only two of these three characteristics show in your interactions, you are probably going to lose the business because of a no trust issue. People can feel as though you are operating with integrity and are highly competent on your subject matter, but if you lack dependability then they aren’t going to trust you. If you have high integrity and are dependable, but don’t know what you are talking about – then that will negate trust. And the last one goes without saying – if you know your stuff, and are dependable but people feel you don’t operate with integrity- then forget it – you’ll never do business with them in the future. At least the other combinations won’t tarnish you from future business!

    So assess your business interactions with people. How do you exemplify integrity, dependability and competency?

    About

    Eddy is the director of a unique training and development collaborative platform that services financial planning firms in the northeast where he has arguably worked with more Gen Y financial professionals than anyone in the country over the past four years. He is also the founder of The Growth Game, LLC. a professional development company and has authored a book that holds the same title. Eddy is a certified coach and specializes in helping professionals develop sales skills, leadership approaches and implement business development activity systems. Eddy has served on a number of national field training committees and has had articles published in industry leadership journals. You can email him at er@thegrowthgame.com.

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