Money Tolerance is a powerful factor in your success or failure as a salesperson.
When I ask the question, “What is ‘a lot of money’?” to you, what is your answer?
Your response tells you what you need to know about your personal money tolerance. It is also a limiting belief.
This idea of what is ‘a lot of money’ will dictate how you handle yourself during selling situations at different price points.
If your money tolerance is low, you will deliberately screw up high ticket sales. You will not feel up to it; your sense will be that this is beyond you. This is why, for instance, a person who has been successful selling cellphones typically has trouble trying to make the jump to selling luxury vehicles.
In the opposite direction, which I have experienced myself, someone with a high money tolerance will have difficulty making a low ticket sale. “I am better than this,” they will tell themselves. “This solution is weak. It sucks.” And they will find ways to blow the sale.
Price Point and Money Tolerance
Why is this the case?
Sales is a conceptual not technical process.
How you think about yourself heavily affects how well you will do selling this or that product or service. Consider the relationship between price point and money tolerance the next time you change jobs, or pick up a new product or service to offer.
Explore how you feel about it. Does it seem “too big”? “Low level?” Do you need to make an internal adjustment to be able to sell this item…or should responsibility for selling it be assigned to someone with a better money tolerance match?
Let’s look in detail about how money tolerance, price point, and sales success are directly related:
Money Tolerance and Mindset
Money tolerance is a result of your mindset. How do you imagine yourself? We already know if you are viewing yourself as the janitor, you will be unable to speak to the chief executive. And let me remind you that your mindset is completely under your control—ready to be reclaimed the moment you wish.
Your world is a stage. Will it remain empty, without a lead player, because you don’t believe you can?
I am not one to repeat homilies, but in this case one is especially apt:
The Man Who Thinks He Can
by Walter D. Wintle
If you think you are beaten, you are;
If you think you dare not, you don’t.
If you’d like to win, but think you can’t
It’s almost a cinch you won’t.
If you think you’ll lose, you’ve lost,
For out in the world we find
Success being with a fellow’s will;
It’s all in the state of mind.
If you think you’re outclassed, you are:
You’ve got to think high to rise.
You’ve got to be sure of yourself before
You can ever win a prize.
Life’s battles don’t always go
To the stronger or faster man,
But soon or late the man who wins
Is the one who thinks he can.
This video is one of a series of 96(!) Sales Tactics videos. If you want to own them, go to this page; the Super Bundle at the bottom is the best value.
Book a call with Jason Kanigan to discover your current money tolerance, and find out what changes to your mindset could do for you.
Jason Kanigan is a business strategist, conversion expert, and consultative sales trainer.