Sunday, August 31, 2008

McCain's Boldness Reflects the "Risk" Versus "Reward" Argument in Sales

It is hard during this intense political season to not be influenced by the political developments in the current US Presidential race. I have often found that many of these developments, however, relate so much to our sales world.

McCain shocked the world and took Obama off of the front pages by selecting Sarah Palin as his running mate. This will certainly further his maverick image and independent streak. In a race that is within several points for either candidate, this was a very risky move for the Senator from Arizona.

I have already analyzed the potential upsides and downsides to this move. Met bet is, however, that the maverick McCain made this move believing that his boldness to embrace "change" would be rewarded. In a race that is about change, this move was probably needed to keep McCain in the running.

Every transaction we take in life will carry risk - it will always be this way. Your job as a salesperson is to mitigate this risk as much as possible so buying will take place. Always position your recommendations to be viewed as logical; but do not underestimate the emotions your customers or prospects are going to feel in regards to the risks they are taking. You have to persuade your prospects into understanding that there are no rewards in taking no risks. If you can channel into this powerful emotion effectively, buying can still take place even with lackluster proposals.

Only time will tell if this VP pick for McCain will work out. But in my estimation, I would rather lose by being bold than lose by staying conventional. This sales mindset has always driven me to take risks, which has many times been paid off by big rewards.

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