Hello to the Build Live, Give solo podcast episode number 278. If it’s your first time. Welcome. And if you love what you hear, please subscribe. I recommend listening to episode 0.5 first to guide you through the rest of the episodes. If you’re a regular, thanks for your support. I love listening to podcasts and always have follow-up questions. If you’re the same, go to paulhigginsmentoring.com/questions and lodge yours today. And I promise to answer.
A big shout out to Julie for her question on How To Create LinkedIn Events For Webinars. So if you go to your LinkedIn profile and click the little home icon best to do it on your desktop, go there, and on the left-hand side, you scroll down to events. So you’ll see there’s certain categories you’ll come to events and then you just simply hit the plus key and create the event that way there’s quite a few options on it.
I gave Julie a lot more detail. If you would like to get that detailed, just contact me. And please check out past shows on your favorite platform just search Build Live, Give.
So today’s topic is The Five Whys of Sales.
You will learn what the five whys are, where to use it in a sales call. And I’ll give you my whys. So why use it? And also some examples. I’ll actually give you one really clear example. So have you heard of the five whys before and where have you used it? So many people have, and normally it’s associated with problem solving and I apologize for all the Japanese listeners, but, Sakichi Toyoda. That was the original founder of this, but he was also the founder of Toyota. So in the 1930s, he developed he was an industrialist, obviously an engineer, and it came up with that.
And then the 1970s, it became a bit more popular and Toyota now still uses it in their day-to-day operations. So if you’re working at Toyota, please approve that. That’s a bit of Wikipedia and a couple of other sources, but they say it’s still being used. And originally it was sort of like, you know, how do you get from the boardroom to the shop for, so obviously, you know, back in the 70’s in particular, there’s a lot of corporate hierarchy. That’s not the case today, but I think it is how do you really get to the heart of the problem? And I like to use it in sales and I’ve got a 10 step sales call process. So I’ll quickly go through it and I’ll tell you which one, I mainly use it in.
- So I’ve set the agenda.
- Is the ideal client.
- The business model.
- Is to provide value.
- New clients.
- Sales systems.
- Who supports you?
- What success looks like.
- Is in the way.
- Questions you’ve got to make.
So just think about it. Like when I’m saying, how do you provide value? Which is step four. They say, well, this is how I provide value, etcetera. So where do you think I would use this the most? If you’ve guessed step eight, success, you’re on the money.
But before we go into why and how I’d like to talk to you about DUBB. It’s an all in one sales and marketing video platform that helps you attract, convert and retain more happy clients. Don’t we all need that. I used it this week to follow up on people who attended my webinar and I got a great response from that for doing that because not many people do, but why don’t you check it out for yourself, go to buildlivegive.com/dubb.
So why and some examples.
So how often do you get to that? The real heart of why someone is looking to grow their business? So I had people come to me all the time and normally they use words, like when I say so what does success look like for you? They say, Oh, I want to double my revenue. I want to double my client base this year. I want to drive more profit, right? So they’re normally financial reasons. And I sort of call BS on that, right? It’s not the real reason why you’re driving the business. It’s certainly not the real reason for me. And it’s not the reason that I’m going to talk about in my example, but some of the reasons could be, and you think about this yourself, right? Some of the examples could be like your home mortgage, seeing your grandchildren more.
I had a client today that spoke about that. And with COVID, I know it’s been really tough getting to see them, you know, school fees, travel the world, whatever it is. Right. But it’s rarely about the revenue itself. It’s what it funds. The revenue is just a vehicle. And as I said, you know, what’s your true why, you know, either pause or make a note to do it later, but just go through and ask yourself five whys, right? So each time you have an answer, then drill down five times and I guess, well, I’m pretty sure it won’t be to grow your business for the sake of the business itself. There’s another reason. And you know, if you go back and look at what you’ve done, I’m sure your first answer is very different to the last answer that you came up with.
And how often do you get in a sales call and just hit the surface, right?
You’re not really getting to the real key heart. And then, you know, the end of the call just ends lukewarm, right? It doesn’t really go anywhere. Next steps are a bit awkward because you haven’t really got to the heart of the problem.
So let me give you a specific example. So this is anonymous. I didn’t want to mention the person specifically, but the first question I asked him and just a tip here is don’t always ask why, why, why? Right. We’re not robots. It’s got to be done in a conversational way, but the first might be as simple as why do you want to grow your business?. And the answer that I typically get, and the answer in this example, I got, they wanted to double their revenue from 50K a month to 100K a month.
I said, okay, that’s great. And then I said, what would you do with the additional 50 K a month? Right. And they said “I would pay myself more. So I draw more out of the business.” So the third question I asked is what would more personal income do for you? So it’s not why it’s what.
Okay. So what, in this case, it’s still a five why framework, but I just changed the terms. What would more personal income do for you? And they said to fund my four children at private school. Okay. And we sort of talked in the personal section up top where I said, that was the second step that they had four children and they were an expensive school, etcetera. So that sort of made sense. So far I’ve gone through three questions and got three different answers.
So the fourth, why was, why is private school important to you? So why send them to a private school? And it’s sort of important to build the personal side at the top of the conversation, right? Because you know, you might’ve only just met this person. And you do want to build that rapport. But if it’s done in the right way, and you’re asking open questions, you can get the response that I got.
So the answer he gave me: was my children who are everything to me. Right. And the person got quite emotional. I said, okay. So the last question, question five, and I didn’t obviously use that, but for your reference, the last question is what is the impact to you, of your children having successful education? And they responded, they will get the opportunities I didn’t, so they can be there to see their children grow up. I’ll never forgive myself for not being there for my children when they were younger.
So this person was in their early fifties, they’d had a very successful career in corporate, but it really dawned upon me that, okay, that’s the real reason why. So then when we spoke about the program and what we could do, it was around that point. That was the true why.
So listening to this, what were you feeling as I read this to you?
Jot it down even, but what were you feeling? And also, what are you thinking now?. Based on using this five-why structure, I personally found it incredibly powerful. And so have the clients that are using it.
Three key actions out of today:
- Give the five why’s a try in your next sales call.
- Let me know how you went. (I’d love to know if this really improved the outcome for you. Like it has for so many people that I’ve taught this to.)
- Build your sales call steps, right?
So I’ve got my 10, If you go back and listen to them, and I hear you building your core steps and then incorporating the five whys into number eight, success. You can get all the links to the show notes at paulhigginsmentoring.com/podcast, episode number 278 or on the app you’re listening to now I recommend the pocket cast app. Listen to episode 0.5. If you’re new to the show it gives you a great overview. And if you liked this show it’d be great to have you subscribe.
If you want to know if you’re going to have a low or seven-figure service-based business in 2021, go to paulhigginsmentoring.com/assessment, 15 questions, three minutes. And there’s a really clear call that I’ve got at the end of that, to help you build your plan, please connect and follow me on LinkedIn. That’s where I post three times a week as a minimum. If you know someone interested in getting to the real, why in their sales conversations, please share it with them. They would love you for it. Remember to ask those follow-up questions, just like Julie, just go to paulhigginsmentoring.com/questions. Once again, all of this is going to be in the show notes.
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