HTSS62 - How you can use barter and trade to close more deals - Scott Sylvan Bell

Why you need to learn how to barter and trade

Barter and trade may be one of the sales skills you lack in. There will be a time in your business life where you may have the ability to use cash or credit but do not want to. You may even have a time in your life where you don’t have access to cash or credit. When you know how to use trade and barter it gives you that much more of an advantage.

Most people think in terms of cash or credit and if you think about it you have something other people will want. You don’t have to accept the normal ways of paying to get what you want. You may even be able to get more for your actions than if you were to pay for the product or service.

Learn the Barter or Trade language:

This is a different language you can learn in the sales process with your buyers. This language pattern may not be something you are used to delivering in your sales presentation. There are multiple conversations you can have or broach and one of them is how to trade or barter for what you have to offer. You can wind up with a unique message for your buyer.  

A true closer is fluid in all sorts of deal making. There are many aspects pf closing deals. When you know the languages of sales you can close more deals faster and easier. Here are most of the language of sales and closing:

• Barter – money for nothing
• Credit – easy payment plans
• Deals – Think things like shark tank
• Emotions – where the sale is
• Negotiation – how to get both sides to see what the value is
• Objections – they are a deal in themselves
• Presentation – what to present
• Trade – valuation conversation

How to learn how to use trade and barter

There are plenty of places outside of sales you can learn and practice trade and barter. The easiest places are going to be places like:

• Swap meets
• Flea Markets
• Garage sales
• Online forums and groups

The best way to start this process is to find 20 things in your home you don’t care about. You do want these items to have a slight value but you really don’t care about them. Next you will list them and what you could be looking for or if you are open for offers.

Either go to people or have them come to you and make deals and or trade. You need about 50 transactions to feel like you are proficient in the process of making trades or doing barter.

You need to get used to the language patterns. the conversation, the body language and the norms. The great news for you is most people will not take the time to do this.  

What to look for in a trade of barter while you practice

As you learn the trade and barter process there are multiple ways you can enhance your communication process. These skills you have the ability to learn will allow you to hear different conversations in your sales processes and new directions to take conversations. Some of these interactions may also teach you new nonverbal ques as well as verbal listening points. Here are a few items you can develop from using trade and barter:  

• Word tracks – what do people say the common phrases
• Body language – look for excitement – rejection – loss of intertest
• Timing – how soon do they talk and react
• Rejection – where did you push it too far
• Story – what are they telling you about the product
• Emotions – what emotions are they selling to you
• Yes – how soon did they say yes, could you have gotten more (be careful about greed)

You may learn trade and barter using technology

Its not just the face to face skills that are important for you to learn. When working with trade and barter you can use apps, text and email. How you write your descriptions and stories do matter. You will also want to pay attention to how people use their descriptions and stories. These conversation pieces are meant to influence you and what your offer could be.  

You will want to get good at writing descriptions and possible uses of the item(s). Rob Walker used stories to sell items at a 6395% mark up for what he bought and sold. The stories and the details were outlined in a Medium article.

What to pay attention to after the deal  

You will want to pay attention top what went right in the transaction, what went wring and what you could have changed.  You also want to keep an eye out for concepts or ideas you could use in your sales process.

A few details to remember  

Your value isn’t their value and their value isn’t your value. You have to be open to hear what the person says and you can always tell them no. They may have more items they are holding back from you that could benefit you. There are also times where you are offered items you may not care about but do have a value that could be used on anther barter or deal.  

As a side note you never bring cash, you will want to figure out how to barter or trade your way through a deal. This will help you be a better closer and not focus on the money. When you look at your product or service see if you can get your value plus a percentage of what you think it is worth. The danger is when you get too greedy about a deal. Remember this is why you start out with products you don’t care about so you can get the learning curve down.

Scott Sylvan Bell

@Scottsbell

#sales #closer #success #barter #trade #podcast #Howtosellshow

This episode was recorded in Sacramento California  

https://medium.com/@42courses/how-storytelling-increased-the-value-of-an-ebay-item-by-6395-60ca4f0280e