How to deal with Rejection in Business and Sales?
In this video, Vincent Finaldi explains how to deal with rejection in sales. He stresses that rejection is not personal, but rather a result of the product or service not meeting the buyer’s needs. He introduces the law of averages, noting that 50-70% of buyers will say no due to competition and purchasing politics. Vincent compares sales success to a .300 batting average in baseball, highlighting that consistent effort leads to success. He also advises improving skills, focusing on asking better questions and understanding clients’ industries, and viewing competition as an opportunity for growth.
Transcript:
Hi, my name is Vincent Finaldi. In this video, I wanted to address how you deal with rejection in sales. Well, first, it’s not personal. The buyer is not rejecting you; they’re rejecting your product or service because it doesn’t fit their need or solve a perceived problem.
The second thing is: some will, some won’t, so what? It’s just the law of averages. If you talk to 10 people who might need your product or service, odds are one to three of them will say yes. So just go into it knowing that 50 to 70% of buyers are probably going to say no, because of the amount of competition, the amount of politics in purchasing decisions, and it’s just the nature of sales.
Think of it like baseball: if you bat .300, you get into the Hall of Fame. Think of it like sales: if you bat .300, you’re going to make a ton of money and have a really successful career.
The last thing I would say about how to deal with rejection is: get better. You’re getting rejected because you’re not getting to yes or no quickly enough. So get better at asking questions, get better at understanding the client’s industry, and get better at understanding the individual personas you’re talking to. Don’t just think, “How can I win the deal?” Think, “How can I help this buyer make an informed decision, even if I’m not the right person to hire?”
You have to sharpen your skills. Competition is great—it makes you much better at your craft. And if you’re a real professional, you should embrace competition and love the process.
So, with that being said, that’s how I deal with rejection. Any thoughts?