When you’re an entrepreneur, you hear the word “no” a lot. Until it comes to a point when you raise the question: How do you deal with no? Fear of rejection is common among small business owners and starting salesmen. Especially for those who are just learning how to sell themselves as well as their product or service, consider these proven tactics for coping with rejection in your business.
Know your sales ratio
Rejection is inevitable especially when you’re selling. But you may not get as discouraged if you know how much to expect in your proposal. For instance, you should be aware that on average it takes about 30 calls to get an appointment with a prospective client. And this number will vary depending on what you’re selling. This means that bigger ticket items typically have a higher sales ratio. Think about it, when you talk to other businessmen about their experiences and pay attention to your own success rate, it will help you estimate how many rejections to expect.
Set long-term goals
It is important that you set your own personal goal. This will help you reframe your thinking to cope better with sales rejections. Remember that goals that go beyond your business objectives help you stay focused and persevere through those challenges.
Don’t take it personally
Many small businessmen and start-up owners or especially the “solopreneurs,” take rejection personally. The tendency is that they blame themselves since there’s no one else to blame but themselves. However, it is important to learn to avoid self-blame. In time you may see that every time you get rejected, you learn something about yourself, about the business, the market or even the industry. Hence, even though rejection, there is a learning opportunity.
Don’t reject prospects after they reject you. Bear in mind that if you’ve been rejected, it doesn’t necessarily mean this person will never be your client – someday. So, keeps the conversation going. How? We suggest create a newsletter or write articles that show your knowledge about your product and establish you as an authority in your field. This will also allow you to communicate regularly with your potential customers. Being an established source in your file will make you feel better about yourself and develop credibility with prospects.
In short, the key is to focus on the little by little progress you had won day to day until you find that it outweighs the rejections.