Ask Joe: How can I make $15,000 more this year?

Joe, I want to increase my income by $15,000 this year. What’s my best plan and where do I focus?”

You didn’t say how many units you sell now or how you’re doing, so let’s assume you meant $15k more in the next 7 months.

The math is always first: $15,000 ÷ 7 months, means you’ll need an extra $2,142 per month the rest of the year.

If you average $350 in commission, you’d need to sell 6 more per month. Actually, it’s 6 at $357 so you’ll need a bump of $7 to $357 per unit. To earn $7 more at 25% commission, you need to raise your gross $28 per unit.

$28 should be a non-issue. Just use the ‘easy bump close’ (from our 3 Pass Negotiation Process) in your last pass. (Wrap It Up & Final Bump.) As you shake their hand on the deal ask, “My manager said you wouldn’t let $28 bucks stand in the way of getting your new car, was he right?” That’s 50¢ more per month on a 60 month agreement, so you’ll do fine.

Back to the extra 6 units per month. Math again, that’s 1.5 per week, with a lot of different ways to do that.

The easiest way to pull this off, is to sell more of the people you’re already talking to on the lot. The average salesperson talks to 10 people, 8 are buyers, and they only sell 2. Using that math, let’s say a 10 car guy talks to 50 people per month. If 10 is your average, to sell 6 more units, you’ll need to close 32% instead of just 20% of those prospects.

4 easy ways to sell 6 more units…

  • Demo More … 50% who get a good ‘targeted’ demo and presentation on their ‘hot buttons’, buy on the spot.

10 car guys already sell half, and don’t realize it. They only give 40% a quality demo now (4 out of 10), and sell 2.

50 prospects x 40% demo ratio =

20 demos, at 50% closing = 10 sales

50 prospects x 64% demo ratio =

32 demos, at 50% closing = 16 sales

  • Close More … Average closing ratios are 20%. That’s 10 out of 50. To sell 6 more, improve your closing ratio to 32%. 50 x 32% = 16 deliveries.

How? Nothing huge, just start to improve everything some.

  • Unsold Follow Up … 33% will come back and 67% will buy on the spot.

10 car guys sell 10 and 40 leave. Just get 75% contact info (30). Follow up 30, 10 come back. Deliver 67% of those 10 = 6.7.

  • Or A Little Of Each … Demo just 4 more to sell 2 more units. Improve your closing % by 4% (24%) to sell 2 more. And follow up on just 10 people, 3 will come back and you’ll sell 2 more.

That’s 6 extra units & $2,142 more without breaking a sweat. Or get serious and do all three; improve demos, closing and unsold follow up, and you’ll deliver 18 more.

18 more + 10 you’re selling now would be 28 per month. At $357 per unit plus bonuses, you’d be on track for $120,000 to $150,000 a year. Not possible you say? Read the comment below from Jolynn…

Tip…plug your own numbers into our calculators so you can really understand your long-term potential from making these ‘no sweat’ improvements. Go to JoeVerde.com/calculators

“From $17,000 a YEAR To $15,000 a MONTH!”

“Before getting into the car business, I worked for 17 years making $17,000 a year. Thanks to my manager and JVTN®, my life has forever changed.

My first month, I sold 21 units and made $13,000. In my next 3 months, I averaged 20 units and took home over $12,000 per month. My best month so far, I sold 23 and made $15,000.

In just my first couple months selling cars, I made more than my previous 2 years combined. I come to work to work, I follow all of Joe’s steps to the sale, I never talk price and my customers love me.

Joe, thanks for the secret to my success and a clear plan I can recognize, duplicate and master for continued success!”

– Jolynn Peshek, Salesperson, OH

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Get Joe Verde’s sales book, Get Everything You Want In Sales, now and put your career on the right track. Find out more about Joe Verde’s workshops and how to sell more cars, have more fun and make more money — now!

Hat-trick on first day!

My first day back, I got a hat trick…”

“I am brand new to the car business. Previously I was a bartender and my people skills with building rapport are second to none, so that part was really easy for me, the tough part was what to do next.

After attending your ‘How To Sell A Car Today’ Workshop and learning your New Basics, the plan was clear: Believe in the steps, follow all 8 steps in order, skip none of them, and you will sell cars!

My first day back, I got a hat-trick, then finished up with 13 for the month. It all starts with a great greeting, like you say, and investigating to find their wants and needs. Then get them to say ‘yes’ a lot based on those wants and needs, get 45 ‘yeses’ in 45 minutes and then my closing ratio soars to 75%.

Your workshop was great and having JVTN® online training in the dealership, lets me go back through the information we covered at my own pace, which is helping me to learn even more and learn faster too.

I am on my way to a brand new career where there are no limits!  Thanks again, Joe!”

– Kristen Duggan, Sales Consultant, NY

Sell more cars with Joe Verde’s book, “Earn Over $100,000 Selling Cars – Every Year.” Go to www.joeverde.com to get a free PDF or order a free soft cover book.

Ask Joe: Is selling cars worth my time?

Joe, you keep talking about the money you can make selling cars – well, that’s not happening for me. I was making $20 an hour back at my old job and my boss said I could get my job back. Why should I keep selling cars and just hope it will get better for me?”

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Two thoughts…

  1. Stop ‘hoping’ you’ll start selling more and go make it happen. Whether you sell 6 or 36, everybody reading this can sell one more unit on average.

“I can’t sell more” is never an accurate statement.

Once you do sell one more – you can still learn how to sell one more again – and that never ends. That’s the great thing about selling – you control your income. If you want to earn more, just learn more and work smarter.

And it’s that opportunity to continually improve your own income, and at your own pace, that is not available at any hourly or salaried job, anywhere.

  1. If you’re an ‘average’ salesperson, you’ll take a big pay cut if you go back.

I just read that an average salesperson now makes $50,000 and works about 50 hours a week. In 4.3 weeks, that’s 215 hours per month.

  • $50,000 divided by 12 months equals $4,166 per month, divided by 215 hours equals $19.37 per hour.

Seems like the same pay, but there’s a catch. We’ve surveyed thousands of salespeople and the average salesperson doesn’t work 50 hours per week.

3,500+ salespeople said they’re at work 9 hours but only ‘work’ 3 hours. The rest of their time is spent ‘waiting for a customer to talk to’. That means…

They spend 6 hours ‘waiting to work’.

If we do the real math on what an average salesperson earns, they’re making $4,166 per month, and working about 62 hours, not 215, so they’re really making…

$67.19 per hour they ‘work’.

So my recommendation is that you don’t go back to a $20 per hour job. Instead just start working more while you’re on shift each day.

If you want to make more money, here are six hot tips from the pros…

  • Develop your selling skills and follow “Joe’s Basics” with every customer. Learn to sell value, not ‘cheap’ prices, by following my steps to selling!
  • Learn more so you can earn more. Fact: When you 1) stop learning more, 2) you quickly plateau, and very soon, 3) you start heading back downhill.
  • Leave your problems at the curb! Everyone has problems, but the pros learn how to leave their problems at the curb, and you can, too.
  • Stay away from the underachievers. Make new friends because who you ‘hang with’ determines your success. Pros don’t hang around with negative people or even ‘nice’ lazy underachievers.
  •  Go to work to work! Every day in sales is one day of opportunity and you’ll either use it, or lose it forever. (Download my free audio: “Go To Work To Work”.)
  • Master phone skills and follow up. When that $100,000+ pro isn’t with a customer they have a phone in their hand. That’s how they develop their business so they can ‘work’ more of their shift.

You have incredible opportunity to earn more than almost anyone else can, so do it. You’ll be glad you did. Call us today and we’ll get you started.

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Get Joe Verde’s sales book, Get Everything You Want In Sales, now and put your career on the right track. Find out more about Joe Verde’s workshops and how to sell more cars, have more fun and make more money — now!

 

Units Nearly Triple, Commission More Than Doubles…

“From 7 units to 20 … and from $250 in commission to $625!”

“I‘ve been in the car business 8 months.

Prior to attending the Joe Verde Closing & Negotiation workshop, I had a steady 9 car average and was making about $250 per unit commission.

The JVTN® online training really gave me a firm foundation to build on before attending class, and after that workshop by learning how to present the deal for a budget focused negotiation (not a price negotiation), my commission per unit more than doubled to $625, I sold 20 units, and earned $12,500.

It was crazy! Once you show customers the benefits of putting more money down (shorter terms, less interest, building equity faster, being able to trade sooner), many times, they put down twice as much as we asked for.

Not only was I getting bigger down payments, and getting more deals done, I was shortening the terms as well. I want them loving their vehicle and coming back to see me sooner for their next vehicle!

Joe, thanks for the best month ever and thanks for making it easier to have more months like this month, every month!”

– Chris Fearneley, Sales and Leasing Consultant, Fredericton Hyundai, New Brunswick

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Sell more cars with Joe Verde’s book, “Earn Over $100,000 Selling Cars – Every Year.” Go to www.joeverde.com to get a free PDF or order a free soft cover book.

Quick Tip: Get Social!

You need to let people know who you are, what you do and where you work – and using social media is a great way to help you do that.

Whether you send emails to your customer base, tweets to your fans, or you direct people to your page on Facebook or LinkedIn profile, do something to get the word out.

Caution … Remember, people base their impressions of you on the emails you send, the info on your site, the pictures, and everything your fans and favorites say when they post things, too.

Email Tip … Get a new email address just for business. Use a ‘regular’ name for this, not that cute, possibly offensive one you use for your friends; bthomas754@zzz.com is ‘professionally neutral’ and won’t cost you a sale.

Social Network Sites … Create a separate site for your customers. That funny picture of Jim & Sue drunk at the river on Facebook that they use for their cover photo, won’t give your prospects that warm and friendly feeling you need to attract more business.

You’ll be one of the few auto salespeople doing this at all, or at least the only one without the bad pics of friends and stupid stuff the others say online.

Get your word out – it’s time!

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Get Joe Verde’s sales book, Get Everything You Want In Sales, now and put your career on the right track. Find out more about Joe Verde’s workshops and how to sell more cars, have more fun and make more money — now!

Book + Newsletter + Workshop = Success!

“From 8 to 13 with your book and newsletter,
and then to 22.5 after your workshop.”

“Joe, thank you for your newsletter, your books and your ‘How To Sell a Car Today’ workshop.

I was an 8 car a month guy for the first 3 years of my sales career and then discovered your book, ‘Earn Over $100K Selling Cars Every Year’, I always had the desire but was never taught the basics. I started applying myself and sold 13 cars that month.

After attending your workshop in February, I sold 22.5 cars my second month back and have been top salesman 3 out of the next 4 months. I strive to deliver a minimum of 20 cars a month and know I will get there because I ‘Go To Work To Work’ and am on pace to earn $100K this year!

With every customer – I listen, I don’t talk price, I sell value, I follow up and sell, then I just do it over again with the next customer!”

– Kevin Shannon, Sales Professional, Paso Robles Ford, Paso Robles, CA

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Get your copy now – download for free! Sell more cars with Joe Verde’s sales book, “Earn Over $100,000 Selling Cars – Every Year.”

Quick Reminders on How To Sell More Every Month

Summer is here and people are out buying, so here are some quick reminders that make a difference every day in sales.

They aren’t in any particular order, just highlight the ones you want to focus on. Then do a search on JVTN® and ‘like’ that chapter or course for easy review.

Great Question: “Is this for a special occasion, birthday, anniversary, something like that or are you just rewarding yourself?”

Turn buying this new or used vehicle into a ‘reward’ or ‘present’, and they’ll fight harder to squeeze it into their budget so they can take it home.

Women buy more vehicles than men. Over 50% of the vehicles are sold to women, and women affect the sale 95% of the time. (If you aren’t sure about the 95%, ask your wife.) Even when the vehicle is for him, find out what’s important to her when she’s driving, and make sure you focus your demo and presentation to her on her specific targeted features and benefits.

Learn to prospect and retain sold customers, especially women, for future business. They hate having to deal with the ‘Average Joe’ salesperson, and would love to have a salesperson they feel comfortable working with in the future, too.

No alone time. Never leave customers alone unless you absolutely have to, especially after you head inside to work the deal. You can spend hours talking them ‘into’ the deal, but it only takes seconds for them to talk themselves ‘out’ of one.

That’s why Step #8 in our selling process is called the Wrap Up. This is when you get all of the information on the vehicle they’re buying and all of the info on their trade.

The ‘selling’ section of our WPG (Weekly Pocket Guide) is specifically designed to do two things: To help you gather all of the info you need to speed up the process and to eliminate any need to leave them alone. Even better – every entry you make in the WPG is a ‘mini’ Order Form Close.

If you’ve never seen our WPG, get a free sample at JoeVerde.com/NLwpg and you’ll see how easy it is to get customer info when they don’t buy so you can follow up, and how easy it is to close the sale just by filling in the blanks.

Do all your friends know what you do and where you work? Do you remind ALL of them? How many times have you pulled into your own neighborhood and seen a new vehicle two houses down? It’s even worse when it’s from your own dealership. Ouch! – that hurts when they say, “Oh Joe, I’m so sorry, I forgot that you sold cars.”

“The payment is too much!” When you’re down to the wire in the negotiation and you hear this, find out how much too much it is. Then separate the payment from the amount that’s too much, and only focus on that smaller number.

Why? Because if the payment should be $500 and they say they can only afford $460, you don’t need to talk about $500, you need to focus on just the $40 you need. Review this on JVTN®, and then use the ‘reduction to the ridiculous’ on the $40. It’s so much easier to talk to them about the payment being just a little over $1 a day too much and then pointing out that the only thing standing between them and their new car is simply skipping a couple cups of coffee each week.

Logic – When closing, give them some logic to help them make a decision to buy. “Bob, I know it’s a little more than you meant to spend, but you aren’t just getting a pretty red convertible with a great stereo, you’re also getting a safe, economical, dependable car that will give you mile after mile of trouble free driving.” (And close again.)

Practice & make selling fun!

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Get Joe Verde’s sales book, Get Everything You Want In Sales, now and put your career on the right track. Find out more about Joe Verde’s workshops and how to sell more cars, have more fun and make more money — now!

Imagine a different future and bigger paycheck

If you want to sell & earn more, imagine what you could learn in our 3 sales classes!

There’s so much to learn about “selling” that we have 3 completely different 2-Day Workshops:

  1. How To Sell A Car’ … on core selling skills and the sales process to double your average production now
  2. Advanced Closing & Negotiation’ … to handle those tougher sales and to deliver more of your write ups
  3. Building Your Business’ … how to work the phone, internet, follow up, and prospect to deliver 20 to 30+ units and earn $100,000 to $300,000 a year

That’s six 8-hour days of training on different sales topics. Most people speak at about 100 words per minute, so in those 6 days we literally speak over 1/4 million words on selling, closing, handling price, negotiation, etc. Plus, we have 5 times that much information on JVTN®!

I bring this up because when you look at all that we teach in class and online, the information in here (about 3,000 words) is less than one tenth of 1% of what you need to hear and learn to really hit the big time in sales.

If you’re learning more in here on how to sell more, walk into your dealer’s office right now and tell them you want to attend class so that you can sell more and earn more for yourself, and for your dealership.

Most dealers and GMs only hear from the lazy underachievers who complain about having to do any kind of training and don’t realize you actually want to improve.

Get your education now and earn more the rest of your life. Find out more here.

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Sell more cars with Joe Verde’s latest book, “Earn Over $100,000 Selling Cars – Every Year.” Go to www.joeverde.com to get a free PDF or order a free soft cover book.

Doubling Your Numbers With JVTN.com

“From 13 to 27 units with JVTN®”

“I started at my dealership recently, and I am amazed at how JVTN® has helped me with every process in selling.

Joe has presented a process for every step of the sale, including prospecting and customer retention! I started in April and sold 13, and at the end of June I had sold 27 units!

I have learned how important it is to be a good listener and I am never idle. When business is slow, I use the Prospecting Process to seek out customers and I use social media to let people know where I work and what I do.

I am so happy to have a great management staff at the dealership, and I have found the perfect new career. Thanks Joe, for helping me every step of the way!”

-Paul Marias, Sales Consultant, Dave Smith’s Frontier Sales, Coeur d’Alene, ID

JVG Attends Event for CCI To Support Veterans

 

Blog_CCI_Event_07_05_16

Joe Verde staff recently attended a donor reception for Canine Companions for Independence hosted by the Ritz-Carlton in Orange County, CA.

CCI provides highly trained service dogs to wounded veterans and people with disabilities. The Joe Verde Group wants to thank our friends from the Ritz: Deanne French, Director of Public Relations; Bruce Brainerd, General Manager (with former CCI dog, Brock); and Shannon Gilbert, Director of Sales Marketing, for their ongoing support of CCI. The Ritz will host the upcoming Diamond Ball, a fundraiser benefiting CCI’s Wounded Veterans Initiative set for Nov. 12.

Our staff also met CCI’s veteran liaison, Lance Weir, and his service dog Auggie, who attended the event and is active in the group’s Wounded Veterans Initiative.