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Importance of the Low Money Tolerance Limit

The low money tolerance limit is one of the two goalposts of your idea of "a lot of money".

Spotting the high money tolerance limit is easy. How much is "too much"? (This is a BS story you're telling yourself, installed by parents, family, friends and other authority figures, and reinforced over the years). The high limit of your money tolerance has far-reaching effects: if $4000/month in apartment rent is "too much", it's unlikely you'll ever live in certain places like stylish Manhattan—and it's unlikely you'll ever qualify for the jobs that would pay for it. You wouldn't let yourself in.

But the low money tolerance limit will mess things up for you, too.

goalpost goalposts money tolerance soccer football game playing sales target

Photo by Tom Fisk from Pexels

Money Tolerance Frames Your Life

In my case, for example, anything under around $1200 is "dumb". A "waste of my time". Difficult for me to get excited about.

This means I am not your guy to sell candied apples.

I don't see myself as a fit for that role...and my money tolerance as an indicator has a lower limit to demonstrate it.

I have a tough time selling things at what I consider low prices.

You do, too.

Awareness of this criteria is really important if you want to do well in sales. Without awareness, you'll continue to be bumped around like a pinball, bouncing off things emotionally and neither knowing nor caring why.

But you ought to care.

Work On Your Awareness of Your Money Tolerance "Goalposts"

Let me ask you this:

Wouldn't knowing what your money tolerance goalposts are immensely help you with understanding why you do the things you do? And don't do the things you don't do?

Why living in a particular place is "impossible", or meeting a specific person "could never happen", or selling an individual item is "dumb"?

Knowing what game you're playing is a big key to success.

Awareness of where those goalposts are is even more important.

>> Want to discuss your money tolerance with Jason Kanigan? Book a consultation here <<

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No Obligation To Sell

Do you have no obligation to sell...or must you try to make a sale with every prospect who comes along?

This event occurred two years ago. Facebook Memories brought it back to my attention. I find it amusing.

I guess you could see it as alarming, too, but that's not the way I choose to view it.

A young person from Italy messaged my sales training page, Sales On Fire, demanding to know the price.

When I did not instantly respond, he escalated to swearing.

I do not put up with abuse (sales hint: how they treat you now is how they will treat you later), so messaged that I would not be working with him, and blocked him.

Google searches are easy to do and our young friend quickly looked up my SOF business phone number. I had it for a decade. I know because shortly thereafter I began to receive calls from a number I (also using google) traced back to Italy.

No doubt he wanted to give me a piece of his mind 😉 Good for him and his persistence. He will probably make something of himself.

no sale, zero obligation to sell, no obligation to sell, sales, salesperson, cash register, sales machine

Image by Rose McAvoy from Pixabay

 

As The Seller, You Have No Obligation To Sell

But here's the fact about being the seller:

** Until we have said Yes to the deal and accepted the money, we can say No.

Right up to that moment. **

We have no obligation to sell. We are under zero obligation to give information, do free consultations, provide our pricing or anything else.

Blocked and gone on that platform, too.

We have no idea what this person wants with information from us. Are they doing a price survey for positioning their own offer? Are they asking about price because they don't know what else to ask about or value? Another of a myriad of reasons, not all of which are friendly?

It is part of the role you play as a seller to qualify your prospects. Some you will want to turn away.

Just a reminder of the power you have as a seller, prompted by this funny memory. No one can make you do anything you don't want to do in sales. You're the one in control of the process. Not everyone should be a customer.

>> Jason Kanigan is a business strategist who knows that people asking right up front, "So, what's your price?" probably aren't interested in working with you. To book a session with Jason and discuss your situation, click here (and yes, you're being qualified.) <<

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Got Your 2020 Money Plan?

Your Money Plan is important.

But if you're a small business owner, it's likely you don't have it.

As the end of the year approaches, coaches start talking about planning out the next twelve months. Smart business owners take them up on this offer... and yet if I had to put a number to it I'll bet about 5% actually do the work.

The rest sit back.

They have various reasons for doing so.

After all, the holidays are coming up. They can do the work in January. (But of course they never will.)

Or they get trapped in The How: HOW will this money come in? A revenue plan is just fantasy, as far as they're concerned.

Those are two of the big reasons small business owners do nothing. They continue to drift.

money plan puzzle revenue plan business owner planning decision making choices

Image by Arek Socha from Pixabay

Why Create Your Money Plan

I've seen a lot of people and companies drift.

Some are comfortable.

Some are so uncomfortable they can't imagine how figuring out a money plan will help.

Yet that's the truth: having a revenue plan will help.

It tells you all sorts of things, if you do the work.

Your Money Plan tells you how much you want and need to earn.

It tells you what the minimum price is that you should go to work for.

From that, it tells you the minimum size of problem you should be looking to solve.

It tells you who you should be looking for as a target customer.

It tells you how fast you need to be working.

It gives you all sorts of incredibly valuable information about how your business needs to be set up and run...if you want it to be successful.

So why do so many business owners shrug this planning off?

Why do they believe it's "not for them"?

Two Reasons People Struggle With Their Money Plan

The truth is in two parts.

First, nobody has ever told them about the key factors I just listed for you. The business owners therefore believe this kind of planning is a boring accounting exercise: and who wants to do that besides the accountants?

Second, deep down, they don't believe they're really in control. They think, if they're winning, "I got lucky." That their customers are the result of chance. That it won't last.

And in a weird way, they're right about the second part.

If you don't continually create the outcome you desire, things will fall apart.

But you do have control.

You can control who you speak with...and who you don't.

You can control what size of problem you choose to work on solving.

You can control your activity level and involvement in phases like prospecting, selling and fulfilling orders.

You can control a lot.

Probably a whole lot more than you thought.

So if you're content to stick it out in the comfort zone, abdicate responsibility for the outcome and tell yourself the lie that, "It's all luck"... you're on your own.

But if you're excited about the idea of getting your Money Plan together—and perhaps changing your business much for the better—then we should speak.

>> Jason Kanigan is a business strategist. Book a time with him to speak about your situation...and get some serious answers...by clicking here. <<