Chapter 1: The Inner Game of Selling

Tracy begins his book by explaining why salespeople are important and how they can
break into the top 20% of reps in any business.

He explains, “The only real creators of wealth in our society are businesses,” and
“Salespeople are the most vital people in any business.” Tracy continues, “Without
sales, the biggest and most sophisticated companies shut down.”

If that doesn’t get you fired up to head into the office today, I don’t know what will. While
a vibrant sales team is crucial for success, not everyone is bound for greatness.
The 80/20 rule was an eye-opener for Tracy, early in his career. He knew that in order to
break into the top 20% of salespeople, he would need to abide by the “winning edge
concept” which states: “Small differences in ability can lead to enormous differences in
results.”

He believes if salespeople focus on getting a little bit better in key areas of selling, it
accumulates into “an extraordinary difference in income.” These seven key result areas,
or KRAs, are:

1. Prospecting
2. Building rapport
3. Identifying needs
4. Presenting
5. Answering objections
6. Closing the sale
7. Getting resales and referrals

Tracy also believes a salesperson’s “self-concept” is important to success. A bad self-

concept in any one of these key areas means you’ll avoid it, make mistakes, and feel
frustrated. If you have a positive self-concept about prospecting, Tracy argues, it will be
no problem for you.
 Every day is full of opportunity and your pipeline will likely stay full. If you have a poor
self-concept, however, you’ll view prospecting as something to be fearful and anxious
about.

Self-concept also impacts how much a salesperson makes. “If you see yourself as a
$50,000-a-year person, you’ll continually engage in behaviors that keep your income at
$50,000,” he says. But if you “reset your financial thermostat,” you can adjust your self-
concept of worth and the value of your work.

By taking steps like this to challenge your self-limiting beliefs, you’ll boost your self-
esteem and your sales performance. “Successful people control their inner dialogues,”
Tracy says. A successful person thinks successful thoughts.

Chapter 2: Set and Achieve All Your Sales Goals

Are you goal oriented? Tracy argues the quality of goal orientation is associated with
your levels of success. For example, a salesperson must know exactly how much they
want to earn in a year in order to focus sales activities. Salespeople should have goals
in the following areas:

1. Annual income goal - How much do you want to make in the next
12 months? To decide on this goal, take your highest income year so
far and increase that number by 25-50%.
2. Annual sales goals - How much will you have to sell to achieve
your income goal?
3. Monthly and weekly goals - Break down your income and monthly
sales goals into weekly sales and income goals.
4. Daily sales goals - If your annual income goal is $50,000, divide
that number by 52 to get the number you need to average per week.
From there, it’s easy to divide that number by day to learn exactly
what you need to earn.
5. Activity goals - Once you know how much you need to make
every day, you can determine what activities to take to reach that goal.
When you accurately record these numbers for a set period of time,
you should be able to accurately predict which activities will make you
successful.
6. Personal and family goals - Determine why you do what you do,
and you’ll tap into immeasurable motivation to push harder and
smarter.

Tracy recommends writing down 100 goals you’d like to accomplish in the years ahead.
By writing them down, you’ll begin to visualize yourself achieving them. These goals
don’t have to be big. If you visualize a prospect responding to your pitch in a positive,
enthusiastic way, you’ll approach your meetings with more excitement and a successful
attitude.

Chapter 3: Why People Buy

Every action a person makes is motivated by improvement. We buy because we believe

it will enhance our lives. So, do you understand why your prospects buy? And why will
they be better off by choosing your product/service over a competitor’s?

Tracy explains different actions give people different units or degrees of satisfaction.
Your prospects want to receive as many of these units as possible with every purchase.
They want to be better off physically, emotionally, and even spiritually. The more your
product can satisfy your prospect, the more incentive there is to buy.

He recommends tapping into a few areas to help people make a decision -- and
avoiding a few as well:

Do:
 Identify a prospect’s emotional values - Find out what your
prospect values and how to emphasize that your product/service
honors those values.
 Consider how it will make others feel - Before a prospect buys,
they consider how their manager, colleagues, and clients will respond.
Anticipate this, and alter your sales approach accordingly.
Don't:
 Focus on price and quality - These aren’t reasons to buy, so
don’t use them as such when making a sale.
 Tracy says the two main reason people buy or don’t buy are desire for gain and fear of
loss. Prospects either want to add more to their lives, as mentioned above, or are afraid
of making a buying mistake.

He cites a study showing desire for gain has a motivational power of 1.0, while fear of
loss has a negative motivational power of 2.5. This means people are much more
motivated by fear they’ll lose something by not buying. So, tap into that emotion when
possible and appropriate.

Every prospect has basic human needs motivating them to buy. Identify which needs
your product/service meets and convince your prospects it will meet those needs better
than anything else on the market. The primary customer needs are:

1. Money
2. Security
3. Being liked
4. Status and prestige
5. Health and fitness
6. Praise and recognition
7. Power, influence, and popularity
8. Leading the field
9. Love and companionship
10. Personal growth
11. Personal transformation

By increasing buying desire, reducing fear of loss, and emphasizing the ultimate benefit
you’ll make more sales and satisfy more customers.

Chapter 4: Creative Selling

Your level of creativity, Tracy argues, is determined by your self-concept. So, to

increase your creativity, all you need to do is practice. The creativity you use to get
 around traffic is the same kind you need to handle surprises in prospect presentations
and calls.

Still need some help stimulating creativity? Try these three tactics:

1. Have clear goals

2. Draw from pressing problems
3. Ask focused questions

Practice creative thinking while prospecting and uncovering buying motives. These
areas test your intelligence and brainpower. If you’re able to find out what your
prospects really want, you’ll be able to convince them they’ll get it by purchasing your
product/service.

When prospecting, ask the following questions:

1. What are the five-10 most attractive features of your product?

2. What specific needs of your prospective customer does your
product satisfy?
3. What does your company offer that other companies don’t?

And if you want to take a more strategic approach to selling, focus on these four areas
to join the top 10% of earners in your field:

1. Specialization - Determine exactly what your product does for

your customers. Be a specialist instead of a generalist.
2. Differentiation - In what areas are your products better than 90%
of similar goods or services on the market.
3. Segmentation - Which customers can most benefit from what you
do better than anyone else.
4. Concentration - Set clear priorities and concentrate single-
mindedly on prospects who represent only the very best potential as a
customer.

If you brainstormed 250 ideas every year, it would have a tremendous impact on your
life. You’ll become one of the most creative and successful salespeople in your field.
 Chapter 5: Getting More Appointments

The most important part of selling? Spending more time with better prospects. And how
do you make the most of your time when you find these prospects? Abide by a few
rules:

1. Break prospect preoccupation - When you place calls, say, “I need

two minutes of your time. Is this a good time to talk?” Only when the
prospect confirms they have the time should you launch into your
pitch.
2. Sell the appointment, not the product - Never talk about your
product or pricing on the phone unless you can close the deal directly.
3. Choose your words carefully - Your prospect is likely on the other
end of the line looking at their email. Develop an opening line the
equivalent of a brick going through their window. Keep it benefit-
centered without directly mentioning your product/service.
You only have thirty seconds to get your prospect’s attention. During that time, your
prospect decides whether or not to listen to you. If you do get through to them and their
response is still, “I’m not interested,” it might mean your questions aren’t strong enough.
Tracy recommends saying, “That’s alright. Most people in your industry felt the same way
when I first called. Now they’ve become our best customers, and they recommend us to their
friends.” Your prospect will instantly start paying attention and you’ll get a second
chance at their business.
Chapter 6: The Power of Suggestion

We’re all greatly influenced by the suggestive elements around us. A calm, confident,
and relaxed salesperson is a powerful salesperson. By controlling your internal
environment (your appearance, voice, and attitude), you can look -- at least on the
outside -- like you’re one of the best people in your field. Here are a few more ways
Tracy recommends making the most of your power of persuasion:

1. Dress for success

2. Practice your presentation
3. Upgrade your office
4. Work from a clean desk
5. Double your productivity

It’s also important to create an impression of value with prospects. Start by using
positive body language. By sitting erect and facing forward, shaking hands firmly, and
minimizing noise and interruptions during your meetings, you’ll give prospects fewer
reasons to become distracted.

Chapter 7: Making the Sale

The first words out of your mouth set the tone for the rest of your sales process, and
eventually, either a sale or rejection. Most prospects have “generalized sales
resistance.” It’s normal and a form of self-defense. Instead of fighting it, understand it
and work to break down your prospect’s barriers. There are two ways to deal with sales
resistance effectively:

1. The approach close - This close gets the prospect to agree to

making a decision after you’ve made your presentation. Instead of
letting your prospect say, “Let me think about it,” or “I need to talk it over,”
and that being the end of it, reply, “Relax, I’m not trying to sell you
anything right now. That’s not the purpose of my visit.” Then continue, “All
I ask is that you look at what I have to show you with an open mind,
determine if it applies to your situation, and tell me at the end of our
conversation if this product makes sense.”
2. The demonstration close - You can use this technique early in the
sales conversation. Open with, “I could show you the best
[product/service] on the market today, are you in the position to invest
[price] right now?” The focus of the conversation is instantly shifted
from, “Will you listen to me?” to “How much can you invest if I can hold up
my end of the bargain?”

It’s also important to understand the various personality types of buyers. Tracy claims
there are six basic profiles:

1. The apathetic buyer - Instead of trying to change this buyer’s

mind, save yourself the time and move on to someone more likely to
buy.
2. The self-actualizing buyer - They know exactly what they want.
Make the most of these unicorn prospects and don’t try to talk them
into anything they haven’t already set their hearts on.
3. The analytical buyer - This buyer is self-contained and task-
oriented. Slow down and be exact with these prospects. Be able to
prove -- on paper -- everything you say, and be precise with each
benefit to make it easier for them to buy.
4. The relater buyer - This is a relationship-oriented buyer. They
gravitate toward “helping” professions and like to be liked. To make
the sale, focus on other happy customers, build a relationship, and
don’t rush them.
5. The driver buyer - These buyers are direct, impatient, and
concise. Get straight to the point with these buyers, because they’re
busy and preoccupied.
6. The socialized buyer - This type of prospect is achievement-
oriented. As soon as you reach an agreement, put it on paper and get
a copy to them immediately.

Understand which type of personality your buyer has, and tailor your approach for a
more successful close. As always, listen attentively, pause before replying, question for
clarification, paraphrase in your own words, and use open-ended questions.

Chapter 8: 10 Keys to Success in Selling

In the final chapter, Tracy shares the 10 keys to success in selling:

1. Do what you love to do

2. Decide exactly what you want
3. Back your goal with persistence and determination
4. Commit to lifelong learning
5. Use your time well
6. Follow the leader
7. Character is everything
8. Unlock your inborn creativity
9. Practice the golden rule
10. Pay the price of success

When you follow these keys, your future is unlimited. As Tracy says, “You have within
you, right now, the ability to be more, do more, and have more than you ever have in
your life.” He continues, “By becoming absolutely excellent in your chosen profession of
selling, you can achieve all your goals and fulfill all your dreams.” So, what are you
waiting for?