This Episode:​ New Year, Fresh Habits – Break Free From Selling With Financial Tunnel Vision

It’s a new year, and it’s time to get a fresh start by breaking bad habits. One mistake I see retailers make repeatedly is selling with financial tunnel vision, or, as I like to call it, selling out of their own pocket. It’s important to recognize that everyone has a different price point they’re comfortable shopping at, and your perfect purchase is not necessarily your customer’s perfect purchase.

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Hey, it’s Bob Negen, and in this episode of Real Retail TV, we’re gonna talk about that despicable habit of selling out of your own pocket.
I work with hundreds and hundreds of independent retailers and every retailer I know has an associate or two or ten who sell out of their own pocket.
What do I mean by selling out of your own pocket? Selling out of your own pocket is when a team member imposes what They believe something is worth on a customer, or they impose what they would pay on a customer.
So they can’t afford a fifteen thousand dollar sewing machine, so they don’t show the fifteen thousand dollar sewing machine. Certainly don’t sell the fifteen thousand dollar sewing machine. They wouldn’t spend eighty dollars on a bag of dog food so they don’t recommend the eighty dollar bag of dog food. They would never spend three thousand dollars on a suit, so they don’t show the three thousand dollar suit. You get the idea.
I heard it once said that you don’t need to wear an expensive Rolex watch to sell an expensive Rolex watch.
So let’s recognize it’s all about the perfect purchase. And the perfect purchase is when your customer gets the thing or the things that are perfect for them. And so the perfect purchase is not about what your team members think something were is worth. It’s not about the features and benefits that your sales associates find valuable. The perfect purchase is about the customer and what they find valuable, what they want.
Let me tell you a story. Back when I first opened my retail business in the early eighties, I had a guy come into my store. And his name was woody Kukaruga. Isn’t that a great name?
Woody Kukaruga, and I ended up becoming great friends with woody. But so woody was a guy by age, and he came in, and at the time I was poor, I was struggling. The business was slow. And he wanted a kite.
He was excited about a kite, so I started showing him this kite that cost twenty dollars. And you could tell, or I could tell that He liked it, but he didn’t love it. And I couldn’t figure it out. I’m trying to get him excited, and he just wasn’t going there.
And then all of a sudden, I realized that he wanted something more expensive.
So I showed him an eighty dollar version of the exact same kite and his eyes lit up. You see, I was selling out of my own pocket.
He bought the eighty dollar kite. If I had a five hundred dollar version of that same kite, he would have liked it even more. I was selling out of my own pocket. I didn’t have money.
I wouldn’t have spent eighty dollars. He had money. He wanted to spend money. And I remember woody walking out the door and going, Bob, you are the biggest dummy in the world.
Don’t sell what you want to sell, sell what they want to buy.
You sell.
They purchase your job as a company in the job of your sales associates. Is to get your com customer to the perfect purchase.
Not what they want not what fits their budget but what the customer wants and what fits the customer’s wants needs and desires.
So your action item should you choose to accept it is to watch what’s going on the floor. Watch your associates.
Watch for this because this happens all the time. You are good, kind, helpful employees in the spirit of giving your customers a great value and a great experience are not working for the perfect purchase, they’re selling out of their own pocket.
So catching it and coaching it is your action item for the week. If you liked what you heard here today and you want more great information, I would encourage you to go to whizbangtraining.com and sign up for our free tip of the week. Or if you really wanna give your team members the kind of training that will get them to get your customers to a perfect purchase. I would recommend that you check out the Retail Sales Academy. Go to retailsalesacademy.com.
But they so Oh, boy.
There we go. Do it, start over.
So I was doing good too.
Where did I go?
The perfect purchase is let me go back one more.