Why Building Trust And Rapport Is Critical | With Mike Bosworth

In this episode of the 1% Edge Podcast, host Carlos Nouche speaks with sales philosopher Mike Bosworth about the reasons behind the high failure rate of sales training programs. They explore the importance of emotional intelligence (EQ) in sales success, the power of storytelling to build trust and rapport with clients, and the need for salespeople to shift from product-focused pitches to value-based conversations. Mike shares insights from his extensive experience in sales training and emphasizes the significance of understanding buyer psychology to improve sales outcomes.

Takeaways

• 80% of sales training fails for attendees due to lack of emotional connection.
• Top 20% of salespeople succeed because they have high emotional intelligence (EQ).
• Salespeople often dive into their sales process too soon, causing buyer resistance.
• Storytelling is a powerful tool for building trust with potential clients.
• Sales training should focus on helping the bottom 80% connect emotionally with buyers.
• Curiosity is key to lowering buyer resistance in sales conversations.
• Leading with stories rather than products can enhance sales effectiveness.
• Salespeople need to understand buyer psychology to improve their approach.
• Building effective sales stories involves understanding the customer's journey.
• Becoming a conscious competent in sales can lead to greater success.

Sound Bites

• "80% of sales training fails for attendees."
• "The top 20% sell 80% of the business."
• "Buyers push away salespeople who can't connect."
• "Curiosity opens buyers to sales conversations."
• "Lead with stories, not products."
• "Salespeople need to build trust first."
• "Become a conscious competent in sales."

Chapters

[00:00] Introduction to Sales Training Challenges

[01:59] Understanding the 80% Failure Rate in Sales Training

[07:40] The Power of Storytelling in Sales

[19:45] Transforming Sales Approaches with Value-Based Conversations

[30:05] Building Effective Sales Stories

[32:54] Final Thoughts and Advice for Sales Success

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