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Many businesses I speak to bemoan the fact that they’re not selling enough stuff, be that stuff a product or a service. Top of the list of their moans is that they talk to people who it turns out are not the right MAN.
Don’t worry – I’m not being sexist with the word MAN – I know women buy things too! The capital letters are a clue. It’s an acronym for Money Authority Need.
If the person (man or woman) you’re speaking to is nor not the right MAN, you’re wasting your time, and theirs.
Let’s say you sell gold plated coffee mugs. Best of luck with that business – there may be a market out there – you never know!
Money means disposable funds, money they’re actually prepared to spend on what you’re talking about. I probably could find £1000 to spend if I needed to. I’m not prepared to spend that money on a gold plated coffee mug. The money is simply not available for that purpose. You can extoll the virtues of your product for as long as you like, I’m just not going to spend the money. You’re wasting your time, and mine.
Authority means the power to make the purchasing decision. There may well be a budget for a number of gold plated mugs, but it’s not me who decides. All the time you spend convincing me that you’re my ideal supplier, who can deliver my ideal product, is wasted time. It’s true that decision makers have gatekeepers, but the sell to a gatekeeper is a different sell. You’re trying to sell them the concept that they should be letting you through the gate. You need to identify the decision maker, the person with the authority to buy. You then need to secure access to them. Only then should you try to sell to them!
Need should be fairly obvious, but I get countless approaches from people trying to sell me things I don’t need. I regret to advise I just don’t need a gold plated coffee mug. It will create the wrong impression of me and my business. My china mug fulfils its purpose adequately. I’m happy as I am, thank you very much! Please don’t waste my time, or yours.
So, before you make that call, or visit that networking group, or kick off that social media campaign, think about the MAN you want to talk to. How will you find them? How will you ensure they are indeed the right MAN for you?
If you want some answers to those questions, please do get in touch!