Grant Cardone - The Price Myth

Excerpts from Grant Cardone's New Book

("Selling the Secret to Success"- on Amazon)

Survey all of the salespeople in the world, even entrepreneurs, you’d find that most believe that price is the number one reason people don't buy their product or service. This is absolutely not true. Sales are loss by because people within the company incorrectly believe price is the reason customers do not buy their product.
Earning business is ultimately about getting the buyer to fall in love with the product and/or getting the buyer to have complete and urgent confidence that the product or service offered will solve their problems better than any other!
The Price Experiment
I once had a salesperson tell me that if the price of my seminar tickets was lower he’d be able to sell twice as many tickets. To prove a point I put on an experiment to prove that a lower price would not insure more sales. I offered a Grant Cardone seminar in Detroit at one-tenth (10%) of the normal price. Detroit has always been one of our best-attended seminar markets so it would prove an excellent testing ground. There was only one stipulation to our little experiment so that we could properly test out his little theory. The sales person would not be allowed to sell the product so that we could determine if price would sell the ticket.

Result: the lowest attendance of any seminar I have given in twenty years. Sixteen people bought tickets for 1/10 of the normal price and we normally have four hundred in attendance.

Reality #1- if price will get the job done there would be no need for salespeople anywhere and that would create a problem for 25% of the world’s workforce.

Reality #2-If the company keeps reducing the price there will be no margin left for commissions resulting in a problem for 25% of the entire world workforce.

Reality #3- Price is never why someone will or will not buy something from your company, they buy because of love and confidence.

If you want a successful career in sales or you want a successful company you must completely dismiss the idea that price will sell a product, as it will not!

Also, price is not your problem to solve, but should be the customers problem to solve. Your problem is to get people to fall in love with your product to the point that they don’t want to spend another second without it! If you are selling a service or product that doesn’t have that love connection then you have to make the buyer confident in your product that that they want to pay your price because they believe that it will improve their company somehow or solve some problem that they want solved! Even remotely entertaining the concept that price is the reason people don’t buy will result in you failing!
This belief should be treated like the plague in any organization.
It is critical and vital to an individual’s existence and a company’s survival that this false belief about price be removed from the culture or the company will cease to exist. Just this week ATA, Skybus and Aloha Airlines went out of business due to the belief that price could sell their services!
This was only one short excerpt from Selling the Secret to Success.

"This book clearly defines the difference between price, people and passionate service. Selling the Secret to Success is a must read for anyone who wants to succeed in life." Howard Tenenbaum COO Keyes Automotive Group

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