Episode 121

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Published on:

20th Sep 2022

4 Words That Don't Sell

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Do you consider yourself a good salesperson? What strategies do you use to make a sale? Selling is a skill that has to be taken seriously. You don't become an excellent salesperson just by memorizing and using specific sales pitches. As someone who has sold a lot of stuff for a long time and gained insights from a lot of sales training, Sharran has developed an understanding of what makes people buy. 

Today, Sharran will talk about 4 words that don't sell. They may get you a sale, but your clients may feel resentment when they realize they were manipulated. Sharran learned these 4 words from his early days at Goldman Sachs. Discover what these words mean when used in a sales setting and why investment banker Lloyd Blankfein forbids their use inside Goldman Sachs. 

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“Selling is a skill, and it has to be taken seriously.”

- Sharran Srivatsaa

Timestamps:

00:00 If you sell anything, this episode is for you

02:26 How the idea for this episode came about

05:52 What Sharran learned from a 10-minute conversation with Lloyd Blankfein, former CEO of Goldman Sachs

07:03 2 words that make grandma mad (they are the harshest words you can use)

09:56 The question Lloyd Blankfein asked Sharran

10:57 Respect your client's intelligence (don't use a manipulative authority frame)

12:39 The next 2 words you must not use during a sale and why

15:46 Here's a better way to frame your pitch

17:07 Using the 4 words will only work if you have these qualities

18:53 When can you use the words, and why is it important?

19:05  Sharran's experience in using the words “makes sense” (while in a conversation with his advisors, Russ Morgan, and Joey Mure)

21:45 A story of how the words “fair enough” were used in the right frame

23:59 Your job is not to crush the objection

25:10 Here's what you want to happen when closing an expensive or complex sale

28:24 Quick recap of today's episode

Resources:

- Sharran's Partnership Program

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About the Podcast

Business School with Sharran Srivatsaa
Business School is hosted by Sharran Srivatsaa, President of Real (TSX: REAX) (NASDAQ: REAX), the fastest-growing, publicly-traded, real estate brokerage in the world. Sharran grew Teles Properties by 10x in 5 years to $3.4 Billion in sales and eventually sold the business to Douglas Elliman. Sharran is also an accomplished “deal guy” and private equity investor. He is the Chairman of private equity firm Highland Prime which focuses on investing in service-businesses and also the Chairman of ARC Multifamily Group which focuses on value-add multifamily investment projects.

Sharran is a former Goldman Sachs and Credit Suisse banker and a sought after keynote speaker and is the creator of the wildly-popular 5am Club call for Entrepreneurs.

On this podcast, Sharran shares his best secrets on how to grow your business strategically, how to build your brand elegantly, most importantly integrate the profits in your business with an overall joyful life.

For more free resources visit Sharran.com

About your host

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Sharran Srivatsaa

Sharran is a serial entrepreneur, sought after keynote speaker, and a respected thought-leadership resource for publications such as the Wall Street Journal, SUCCESS magazine, Huffington Post and Forbes.

While Sharran has had 5 exits in the last 19 years, and also a several humbling failed investments and business initiatives. He talks all about them on his top rated Spotify podcast, Business School.

Most recently, Sharran led Teles Properties’ unprecedented 10x growth over 5 years and a 4-year consecutive streak on the Inc. 500 fastest growing companies list resulting in its acquisition by national real estate powerhouse Douglas Elliman.

Prior to Teles, Sharran worked at both Goldman Sachs and Credit Suisse, where he collaborated with management teams of fast-growing businesses around the country on investment advisory and corporate strategy. Sharran also spent several years building recreational programs in the Caribbean, Middle East, and Hawaii for some of the finest international resorts such as the Four Seasons and Ritz-Carlton, also has deep experience working with technology companies such as Lightera (acquired by CIENA) and Obopay, a fast-growth mobile payments company.

Sharran is a Principal at Srilo Ventures, a multi-factor private investment fund that focuses investing in and advising technology companies and operating businesses in the consumer space. Having successfully completed many acquisitions, joint-ventures, management buyouts, mergers, and capital raises, Sharran serves as a director and advisor on numerous company boards.

He is also a member of the Genius Network, the highest-level marketing mastermind in the world led by whizkid Joe Polish, and also a member of Young President’s Organization (YPO).

After competing on the professional tennis tour, Sharran received his Bachelor’s degree in Computer Science from Luther College and his MBA with Honors from Vanderbilt University.