Mark Cuban owns the Dallas Mavericks, has appeared as an investor on the TV show Shark Tank, and built a tech company called MicroSolutions. He wrote a book entitled How to Win at the Sport of Business. He believes entrepreneurs and salespeople shouldn’t turn blind and deaf when they get a “No.” He wants each “No” to be something to learn from. Cuban believes the lessons that come from receiving rejections are a better value than anything won by blind and excessive doggedness.
- Pressing against a “No” means you’re wasting both parties’ time. Don’t push too much to change the “No” into a “Yes.”Instead, collect “Nos” because each one gets you closer to a “Yes” as you learn what your customers want and need.
- Too much aggression after a “No” makes you appear desperate and inept at listening. Will they do business with you the next time if you leave a poor impression?
- “No” shows you have homework to do. Asking again and again in the same way creates resistance. Learn from the “No” and sculpt a better pitch.
- Value is measured in the total upside of a business relationship, not by how much is squeezed out in one deal. If the customer says “No” to today’s offer, it doesn’t mean it’s the end of the relationship.
- Ultimately, the most crucial job is to make a customer happy. If they say “No” it may be because the offer won’t make them content. Finding what does make them happy makes more sense than forcing them to settle with something they don’t want.
According to Cuban, each “No” brings you closer to a “Yes.” Insisting on getting your way isn’t worth the bad reputation it creates. Do a little homework. Consider the long-term relationship. Above all else, keep your customers and prospects content. The beauty of success doesn’t rely on how many times you have failed. Success comes from learning how to succeed.
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