G’day everybody, how are you? It’s Rick speaking. Hey, good to hear from you. I was speaking with my students today in the PDP, the “Profitable Deal Playbook”, which is a nine-week course that I run, an online course for people in the game.
And we were talking about objection handling today, which is a really great subject because if we don’t handle that the right way…sellers are always going to have objections to anything that we want to do and we’ve got to move through those. Remember, we can’t destroy people’s belief systems. Everybody has a belief system. You can question it, you can get them to question it. But we can’t actually destroy people’s belief systems. You know, we might believe one thing but people believe something else.
So, therefore, it was how do we understand objections, recognise that they’re part of all, you know, business or private negotiations. I mean, gee whizz, even if you’ve got a girlfriend or you’re married, you’re always negotiating everything, right? So it’s like, how do you move through it to get the outcome you want? Because at the end of the day, you want the outcome that sort of best suits the results you’re looking for. So the excitement about that is how to make that happen. So it was all about objection handling. I’m just going to get out of the sun, the sun’s a little bit bright there.
So here’s the frame-up for objection handling, right? You might as be the one that brings it up first before the other person brings it up. And I’ll tell you why. Because people are always going to be anxious about it, they’re always going to be thinking things. So if you know that, you know, we should always bring things up first, right, that we think could be a concern. So one of the questions we might have is, “Sir, I tell you what, if we were putting this transaction together right now and I was you, I’d be concerned about these issues, blah, blah, blah, blah, blah. And I think it maybe best we get those off the table and get them sorted so we keep moving forward. Otherwise, they might cloud what it is we’re trying to do here.” And people love you for it, okay? So always get those objections out of the way, get them all sorted.
And just recognise there are always going to be time objections, there’ll be money objections. And one of the best ways to move through those is put them on your fingers. So you might say, “Let me ask you something, sir. If we have something we had to think about today, that was a concern or an issue, we had to put numbers around it, it could be, like, could be the money, could be the time, could it be like you, me.” And if you put it on a finger and say, “Pick which one of the finger, the objection probably is that we need to sort out,” very powerful little way…because otherwise if you say to people, “Sir, you know, what’s the issue here?” If we can’t give them a little finger to point to or a particular objection to mount it on, they can’t grab the ice, right? I remember one of the guys who I work with said, “People can’t grab at mist, they can’t really grab at water, but they can grab at ice.” So always make your objection, bring it down to a concrete, something that can be really, really worked on and becomes like ice.
So remember, if you’re going to have an objection or you know people are going to have objections, be the first one that brings them up, brings them out, put them on the table and frame them up in such a way that we work through them as a team and you get really incredible results. So, guys, that was just something that I’d thought from the nine-week course we’re doing. It’s the “Profitable Deal Playbook”.
So we’ll give you some more information about that but it’s just where people want to sort of get into something really pretty meaty and get some dirt under their fingernails, start putting transactions together. And I’ll bounce along with them and make it all happen. All right, guys, have a great day. We’ll catch you all soon.