Your 'face value' formula
I work with a lot of sales leaders in the ‘party plan’ industry. One of the greatest tools you can use toward overcoming a NO in the industry is actually knowing what your ‘face value’ is.
Not sure what I am talking about. This is a formula that breaks down an actual dollar amount to assist you in reframing No’s and rejection in the industry. So if/when you do receive a NO, you can reframe it by telling yourself ‘thank you…you just paid me X’.
Here is a sample for you:
You attend a party. 10 folks attend. 4 book shows. 3 of those shows ‘hold’.
Of the 3 shows that hold, these are the party sales totals:
• Show 1 - $500 sales
• Show 2 - $500 sales
• Show 3 – $1,000 sales
Overall sales for all 3 shows combined; $2,000
Your commission amount is 30% (30% of $2,000 = $600)
$600 divided by the 7 that said NO = $86
YOUR FACE VALUE is $86 (10 folks tell you NO, that’s $860) – GO FOR IT!
How can this assist you with moving forward to make your calls and book your shows or to ask for business?