Category Archives for Mastermind

Donald Kelly, The Sales Evangelist, Online Sales Coaching

TSE 860: TSE Hustler’s League-“I Want To Cancel”

Donald Kelly, The Sales Evangelist, Online Sales Coaching

Sales reps in small firms often have to do much of their own work. They do their own prospecting, conversions, and account maintenance, and they have to keep track of a lot of things. When a prospect says “I want to cancel,” we find ourselves questioning our decisions and wondering where we went wrong.

On today’s episode of The Sales Evangelist, we share the story of one of our TSE Hustler’s League members who faced this very issue.

One of his marketing customers inexplicably cancelled the contract with him, and he was left wondering why.

Going above and beyond

When their business relationship began, they started from scratch. He created directories and set up an email platform to encourage customers to review her business.

In the midst of their efforts, the customer had a baby, so she was sometimes slow to respond to his need for information.

He set up tags in her emails so she could track her leads and prospects, and he set up her Google to sync with her CRM.

When it became apparent that she wasn’t very familiar with her own CRM, he learned the system himself so he could help her.

She told him she was happy with the emails he generated for her, and she referred him to other people. She even updated her credit card information with him.

Then, one month later, she cancelled.

Asking questions

When one of our members steps into the hotseat as part of TSE Hustler’s League, we first respond to the challenge by asking questions.

  • Did she provide a specific reason why she didn’t want to continue doing business?
  • Did you establish conversion expectations as part of the contract?
  • Have you spoken to her over the phone about this situation?
  • Have you met with her face-to-face?
  • Was there any kind of guarantee in the contract?
  • Have you asked her what it would take to earn her business back?

The client told him that she didn’t feel like she had seen any results from their partnership. He hadn’t met with her or spoken to her over the phone, and there weren’t any guarantees or metrics within the contract.

At this point in the Hustler’s League, we would typically provide our suggestions, and we’ll get to that on next week’s episode.

Today, though, I am asking for your feedback. What would you recommend he do in this situation? How would you respond?

Email me or join our Facebook group and share your answers with us. Include the episode number, 860, in your response, and tell us how you would handle a situation like this.

We want to help sales professionals find more ideal customers, and go out each day and do big things.

“I Want To Cancel” episode resources

There’s a reason I continue suggesting the book, Stop Selling & Start Leading: How to Make Extraordinary Sales Happen from our sponsors at Wiley. It’s a fantastic blueprint of all the things buyers say they expect from sellers and want from sellers.

I’m offering a free excerpt of the book so you can check it out for yourself.

Check out the Video Jungle podcast, your source for marketing and selling your brand using video. Plan, create and share your way to better content and strategy. Video Jungle offers top-notch, state-of-the-art advice about video.

Email me for more information about our newly launched Sales Podcast Network, designed to provide specialized sales content for sellers of all levels and all industries. You can also email us about our new business development services.

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Mastermind, Donald Kelly, The Sales Evangelist, Best Sales Podcast

TSE 360: TSE Hustler’s League-“Loss Aversion”

Mastermind, Donald Kelly, The Sales Evangelist, Best Sales Podcast

Nobody wants to lose anything of course. But do you care more about losing something rather than actually gaining something? This is something you need to think about if you want to achieve success in sales.

In last week’s episode, I mentioned that 74% of executives indicate that they give their business to the company that established buying visions as opposed to 26% who do a side-by-side comparison.

Today, we talk about value-building to establish what has been shared last week. One of the things our community members in TSE Hustler’s League wanted to focus on more was ways they can improve their ability to express value to their prospect.

See, if you’re closing only one out of five leads for example, there’s something really, really wrong.

Here are the highlights of today’s episode:

What is Loss Aversion?

It means being afraid of losing things more so than you care about gaining something. So you would rather not lose money than worry about gaining it.

People are 2x as motivated to change a behavior or make a decision to avoid a loss as they are to achieve a gain.

And this concept of loss aversion is common among many of us, including your prospects. Therefore, it is your job as a sales professional or entrepreneur to create that buying vision within your prospects so they can gain more success and generate more money.

  1. Understand their status quo.

What’s causing them to not move forward? What’s hindering them from being successful? Typically, the status quo of clients is that they’re losing out on opportunities.

  1. Point out how your prospect is losing money.

This is where the idea of insight comes from where you bring more to the table something prospects may not know already. Show them and establish that this is not working. This is where they’re losing money. And this is where you need to fix things.

Obviously, your goal is to help them make money but it’s going to jump to them more if you can establish the loss, the loopholes, or the leaks within their company.

  1. Create a buying vision with your prospect.

Share a story that can validate this. This helps your client create a buying vision by creating a picture in their head as to how their pain point can concretely affect them. Establish the loss. What are they losing right now by staying in their status quo. Help your prospect recognize their loss.

Today’s Major Takeaway:

Nothing ever worthwhile is ever easy. If you want to stand out, be different. Bring something to the table. Bring value and don’t look like your competitors.

Episode Resources:

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The Sales Evangelist, Donald Kelly, Donald C. Kelly