Power Selling by Stephan Schiffman

Last updated: Aug 3, 2023

Summary of Power Selling by Stephan Schiffman

Power Selling by Stephan Schiffman is a comprehensive guide to successful selling techniques and strategies. The book is divided into several sections, each focusing on a different aspect of the sales process.

In the first section, Schiffman emphasizes the importance of preparation and mindset in sales. He highlights the need for salespeople to have a positive attitude, confidence, and a deep understanding of their product or service. He also provides practical tips on how to research prospects, set goals, and create effective sales presentations.

The second section of the book focuses on prospecting and lead generation. Schiffman explains various methods for finding potential customers, such as cold calling, networking, and referrals. He provides valuable advice on how to approach prospects, build rapport, and identify their needs and pain points.

The third section delves into the art of effective communication and persuasion. Schiffman emphasizes the importance of active listening and asking the right questions to uncover customer needs. He provides techniques for overcoming objections and handling difficult customers. He also emphasizes the importance of building trust and credibility with prospects.

The fourth section of the book explores the negotiation and closing stages of the sales process. Schiffman provides strategies for negotiating win-win deals and handling price objections. He also offers tips on how to create a sense of urgency and effectively close the sale.

The final section of the book focuses on building long-term customer relationships and generating repeat business. Schiffman emphasizes the importance of providing exceptional customer service and staying in touch with clients. He provides strategies for upselling, cross-selling, and generating referrals.

Throughout the book, Schiffman emphasizes the importance of continuous learning and improvement in sales. He provides practical exercises and action steps at the end of each chapter to help readers apply the concepts discussed.

In conclusion, Power Selling by Stephan Schiffman is a comprehensive guide to successful selling. It covers all aspects of the sales process, from preparation and prospecting to negotiation and customer relationship management. The book provides practical tips, strategies, and exercises to help salespeople improve their skills and achieve greater success in their careers.

1. The Power of Active Listening

One of the key takeaways from Power Selling is the importance of active listening in the sales process. Schiffman emphasizes that salespeople should focus on truly understanding the needs and concerns of their customers, rather than simply pushing their own agenda. Active listening involves giving full attention to the customer, asking clarifying questions, and paraphrasing to ensure understanding. By actively listening, salespeople can build trust, establish rapport, and uncover valuable insights that can be used to tailor their sales approach and offer solutions that truly meet the customer's needs.

Implementing active listening requires discipline and practice. It involves setting aside personal biases and preconceived notions, and genuinely seeking to understand the customer's perspective. By doing so, salespeople can gain a deeper understanding of their customers' pain points and motivations, allowing them to provide more effective solutions and ultimately close more deals.

2. The Importance of Building Relationships

Schiffman emphasizes the significance of building strong relationships with customers in Power Selling. He argues that salespeople should focus on creating long-term partnerships rather than simply making one-time sales. Building relationships involves investing time and effort in understanding the customer's business, industry, and challenges. It also requires maintaining regular communication and providing ongoing support even after the sale is made.

By building relationships, salespeople can establish trust and credibility, making it more likely for customers to choose them as their preferred vendor. Additionally, strong relationships can lead to repeat business and referrals, as satisfied customers are more likely to recommend a salesperson to others. Schiffman provides practical tips and strategies for building relationships, such as sending personalized follow-up emails, making regular check-in calls, and providing value-added resources and insights to customers.

3. The Power of Asking Open-Ended Questions

In Power Selling, Schiffman emphasizes the importance of asking open-ended questions during the sales process. Open-ended questions encourage customers to provide detailed and thoughtful responses, allowing salespeople to gain deeper insights into their needs and preferences. These questions cannot be answered with a simple "yes" or "no" and instead require customers to provide more information and elaborate on their thoughts.

By asking open-ended questions, salespeople can engage customers in meaningful conversations and uncover valuable information that can be used to tailor their sales approach. Open-ended questions also demonstrate genuine interest and curiosity, which can help build rapport and trust with customers. Schiffman provides examples of effective open-ended questions, such as "Can you tell me more about your current challenges?" and "What are your goals for the future?" By incorporating these types of questions into their sales conversations, salespeople can gather the necessary information to provide targeted solutions and ultimately close more deals.

4. The Power of Persistence

Schiffman emphasizes the importance of persistence in the sales process. He argues that salespeople should not give up easily and should be willing to follow up multiple times to secure a sale. Persistence involves staying in touch with prospects, even if they initially show disinterest or are not ready to make a decision.

Schiffman provides practical tips for staying persistent, such as setting reminders to follow up, using different communication channels (phone, email, social media), and providing valuable information or insights during each interaction. By staying persistent, salespeople can demonstrate their commitment and dedication to helping the customer, which can ultimately lead to a successful sale.

5. The Power of Differentiation

In Power Selling, Schiffman emphasizes the importance of differentiating oneself from competitors. He argues that salespeople should clearly articulate their unique value proposition and highlight what sets them apart from others in the market. Differentiation involves understanding the customer's specific needs and tailoring the sales approach to address those needs in a unique and compelling way.

Schiffman provides practical strategies for differentiation, such as focusing on specific industry expertise, offering customized solutions, and providing exceptional customer service. By effectively differentiating themselves, salespeople can stand out from the competition and position themselves as the preferred choice for customers.

6. The Power of Confidence

Schiffman emphasizes the importance of confidence in the sales process. He argues that salespeople should believe in themselves and their ability to provide value to customers. Confidence involves having a deep understanding of the product or service being sold, as well as the ability to effectively communicate its benefits and address any objections or concerns.

Schiffman provides practical tips for building confidence, such as conducting thorough product knowledge training, practicing sales pitches, and seeking feedback from colleagues or mentors. By exuding confidence, salespeople can inspire trust and credibility in customers, making it more likely for them to make a purchase.

7. The Power of Adaptability

In Power Selling, Schiffman emphasizes the importance of adaptability in the sales process. He argues that salespeople should be flexible and willing to adjust their approach based on the customer's preferences and needs. Adaptability involves actively listening to the customer, understanding their unique situation, and tailoring the sales approach accordingly.

Schiffman provides practical strategies for adaptability, such as being open to feedback, continuously learning and improving, and being willing to try new approaches. By being adaptable, salespeople can demonstrate their commitment to meeting the customer's needs and increase their chances of closing a sale.

8. The Power of Follow-Up

Schiffman emphasizes the importance of follow-up in the sales process. He argues that salespeople should not rely solely on initial interactions and should instead maintain regular communication with prospects and customers. Follow-up involves sending personalized emails, making phone calls, and providing valuable resources or insights to stay top of mind.

Schiffman provides practical tips for effective follow-up, such as setting reminders, using customer relationship management (CRM) tools, and providing value-added content. By consistently following up, salespeople can build stronger relationships, address any concerns or objections, and increase their chances of closing a sale.