What are the benefits of closing high ticket sales? If you follow the Dan Lok YouTube channel and social media accounts, you’ve probably heard him talking about closing high ticket sales very frequently. And to Dan, closing is one of the most valuable skills you can acquire.
In fact, closing is more than just a skill. It is a way of life and a way of thinking. If you think about it, you are closing all the time in the daily conversations you have with the people in your life.
When you’re trying to convince your family to eat healthier, you’re closing. When you’re asking someone out to go on a date with you, you’re closing. You’re always closing.
So, if you’re already closing people on a daily basis, why not develop that skill into something you can profit from and impact more people with? In this article, we’ll go over the many benefits you can get from closing high ticket sales that no other profession or career offers.
Closing Gives You the Ability to Get More People to Say Yes, Without Being Pushy
Have you ever had those moments where you’re busy working on something, and you get interrupted with a call from a telemarketer? When you pick up the phone, they say, “Hey, how are you today?” They’re usually very energetic, talk super fast, and they try to sell you on why you should buy one of their products. You probably know what we’re talking about.
For most people, that method of selling turns off any cautious buyer. It sets a bad tone and experience. Why? Because people don’t like to think that anyone is pushing them or forcing them to make a decision. They want to know they’re in charge of making the decision and they want to feel good about it.
When you’re closing high ticket sales, you don’t go into a conversation with the mindset that you have to convince a prospect to buy. You approach them by asking the right questions so that they can make the right decision for themselves.
Imagine sitting down with a doctor because you have severe migraines. What does the doctor usually do? They start off their diagnosis by asking a lot of questions to figure out all the details of your problem. The same applies to closing.
Part of being a closer is being able to find out where your prospects are. What are their frustrations? What are their pain points? Then, you want to know where they want to be by painting a picture of their goal. From there, you present your product, service, or solution as the bridge between where they are and where they want to go. Now, it’s not about being pushy. It’s about diagnosing and bridging the gap.
How to Operate From a Place of Abundance
There’s a great story about how Dan first discovered the art of closing high ticket sales. It was back in his early twenties when he was training under his mentor, Alan Jacques, to learn copywriting.
He was working with some clients here and there charging $1,000 to work on one project. Suddenly one day, Alan tells him to double his prices. At first, he was hesitant. But he practiced saying it in the mirror and quoted $2,000 for his next client. After working with a few more clients, he goes to talk to his mentor again. Alan says, “Dan, double your prices.”
He was hesitant. But he practiced and got the job done for his next client. A few months down the road, Alan tells him to now charge $10,000. That number was incomprehensible to Dan. He said, “Alan you’re crazy. Who would pay me $10k to write a sales letter?” Alan just says, “But this time I want you to really practice.” So Dan practices again and again until he could say it with a straight face.
When he got a new referral client, he quoted $10,000 and they were hesitant at first. But they heard a lot of good things about Dan so they asked to pay $5,000 upfront and another $5,000 when the project was finished. He closed the deal and that was how he made his first $10,000. The lesson he learned from that experience was that it expanded his comfort and he realized it doesn’t take more effort to sell something at $10K versus $1K.
Why Achieving Abundance is Simple But Not Easy
Most entrepreneurs operate from a fear-based, paralyzing mindset where they see premium prices as an obstacle so they miss out on bigger opportunities. Even after they try to set higher prices, they give up for a number of reasons.
- Self-doubt: “It’s been weeks since I’ve gotten a sale.”
- Fear of rejection: “Potential clients couldn’t get off the phone quick enough.”
- Don’t believe in their self-worth: “No one will pay me that price.”
- Fear of failure: “What if it doesn’t work?”
You see, what holds most people back are these stories we tell ourselves. But usually, it’s all in our head. And the more you say them to yourself, the more you’re programming your mind to make sure you don’t charge premium fees for your products or services.
It’s the same way in life. Imagine seeing a well-dressed man and his family arriving in a black Lamborghini to hang out at the park. What is the first thing that comes to your mind? You might think they’re showing off, greedy, or they’re rich because they inherited it. The list of negative beliefs are limitless. But the big question is: How do you know? You don’t.
In fact, what if he was actually an entrepreneur that worked for 20 years of their life to build a great company and serves great clients. He’s a family man. He loves to contribute to the community and he’s just going to the park with his family in a Lamborghini because it’s something he enjoys doing on the weekend.
For most people, that is the last thing that people think of. Now, if you have those negative beliefs about that person, would you want to be that person? Chances are, the answer is no. So if that is your belief and you know if you become that person, then the whole world will view you the same way.
And that’s the problem. You’ll often hear people say they want success. But on the other hand, subconsciously they’ll make sure they don’t achieve it because they’re afraid of how the world will view them.
Unlock The Power of Doing Less and Achieving More
“There are a million ways to make a million dollars.”
Dan’s mentor said this to him once, and it stuck with him. It’s so profound, because every time you’re closing high ticket sales, you’re reminded of how powerful it is. If you’re in business or you’re an entrepreneur, you have a lot of ways to make one million dollars.
For example, you could potentially sell a product for $1 to a million people and make a million dollars. You could also sell something for $100 to ten thousand people and hit a million dollars. Or you could sell something for $10,000 to 100 people and again reach a million dollars.
This is the model of closing high ticket sales. It’s based on closing fewer clients for greater margins. There are other business models that work better for other people but this is a way of doing less and achieving more. Interestingly enough, the more you charge for something, the more your clients value it.
So when you’re closing high ticket sales, what dictates your price is not competition. What dictates your price is perception. One of the things you learn closing high ticket sales is that clients love to use price objections. For example, they might say, “Oh I can’t afford it. Your service is too expensive.”
But very often it’s not the price that they object to. It is the value that they object to. What they’re actually saying is they don’t believe the value of your offer is worth the price you’re asking.
To solve this, you need two things. You need to close people who have the willingness to buy (or a need) and the ability to buy (or financial means). The secret to doing less and achieving more has less to do with what you sell but rather who you sell to.
How to Attract The Best, and Repel The Rest
Have you ever tried to help someone out of the goodness of your heart? Maybe they’re your loved ones. Or maybe they’re people you’ve worked with for a long time. What usually happens when you try to “save” them? Do they actually take your advice and do it? Or do they just complain and make excuses about how awful their life is?
For most people, the outcome is never in their favor because no good deed ever goes unpunished. This is a lesson Dan learned very early in his entrepreneurial career. And as he became more well-known, more and more people would approach him on his social media accounts and ask this question: “Dan, can you mentor me?”
It sounds harmless but there are so many problems with this approach. It tells him that they’re desperate. They have no respect for his time. And chances are, they probably don’t know much about him.
From these encounters with these types of people, he learned a valuable lesson. And it’s this: He is not in the business of turning losers into winners; he’s in the business of helping winners win more. If you study Dan’s work, you’ll see that everything he does is designed to filter out bad apples. From a business point of view, the goal is to attract the best and repel the rest.
But what exactly does that mean? It means he sells to a small segment of the marketplace: Players with money. He works with either the affluent or entrepreneurs who are willing to invest in themselves.
When you’re closing high-ticket sales, you’re selling to players with money. And the reason why this model makes your life easier and helps your clients get great results is simple. It’s because you’re not trying to save them or do the work for them. They already have the foundations in place. All you’re doing is helping them reach the next level.
How to Handle Any Objection Like a Military Genius
If you’ve ever watched Battleship, you’ll remember the scene where they referenced the Battleship game and use the grid. It’s the part where the John Paul Jones ship lost all of their communication systems including their radar. Captain Hopper and the rest of the crew were all stumped because they didn’t have any way of locating the alien ships.
Assuming the alien’s couldn’t see them either, Captain Nagata comes in with a plan and says, “There is a way. A way of seeing them without seeing them.” Everyone looks at him confused. He explains how they can track water displacement through tsunami buoys. This means if any of the enemy ships move, they’ll be able to track it and shoot them down.
There’s an important lesson here. Closing high ticket sales is just like playing Battleship. When you’re closing, you’re entering the battlefield knowing that your prospects don’t trust you. And when they don’t trust you, they’ll lie and attempt to shoot you down with objections. If you go in without a game plan and they shoot you with an objection, you’ve lost the sale.
So how do you position yourself on the high ground? What strategy do you need to use against objections? The solution is simple. It’s about knowing it without knowing it. Now, what exactly does that mean? It means you should expect your prospects to throw objections at you without knowing what kind of objection it is.
Prospects lie all the time so when you’re closing high ticket sales, you’re always aiming to be ahead of the game. You never want to go into a closing call unprepared. So as a closer, you learn how to over-prepare so you’re ready for anything that comes your way.
Develop the Power to Influence Any Personality Type
In closing high ticket sales, you end up meeting and talking to a lot of different types of people. And each person has a different personality type.
In order to close effectively, it’s important to be mindful of each person’s personality type. Some people are more fun-oriented. Some are more people-oriented. Others are more goal-oriented. And some are more detail-oriented.
Traditional salespeople make the mistake of not understanding what personality type they’re talking to. They’re not asking the right questions. They’re not building any rapport with their prospect. In most cases, 80% of the time they are the ones doing most of the talking. And that is the complete opposite to the way you would close high ticket sales.
Usually the higher the price point, the greater the barrier of entry and the less they trust you. When you’re closing high ticket sales, a lot of the burden and the risk is on the prospect’s shoulder because the price is so high.
So to be an effective closer, you want to put a lot of the risk on your own shoulders, build rapport, and trust. But to do that, you have to understand how to effectively communicate based on their personality type.
How to Think and Grow Rich in All Areas Of Life
When you’re closing high ticket sales, the foundation of the skill is established in two major areas. You need to first have the right mindset and you need to learn how to think.
You might be wondering, “Well, what does thinking have to do with closing high ticket sales?” A lot. Because without this, it’s very difficult to succeed in closing high ticket sales.
So what exactly do we mean by think and grow rich? If you’ve read the classic book by Napoleon Hill, Think And Grow Rich, then you might have an idea of what it means.
But most people who have read the book actually haven’t captured the message Napoleon wanted to convey. It’s not within the first few principles. It’s actually in his 11th principle of achievement which is accurate thinking.
Now, accurate thinking is not the same as critical thinking. They’re both very different. Critical thinking is about analyzing thoughts and situations. But accurate thinking is about looking at a situation from a bird’s eye point of view and figuring what is true and relevant.
You do this by asking yourself powerful, high-quality questions in order to get high-quality answers.
The ability to think accurately is very relevant when it comes to closing high ticket Sales. Why? Because when you’re working with clients, your job as a closer is to be able to understand strategies and marketing. You want to be able to see the big overarching picture in order to close effectively.
As you develop this skill, you’ll notice how it applies to all areas of your life. You’ll learn what it really means to think and grow rich.
Discover How You Can Excel at Closing High Ticket Sales
In life and in business, closing is one of the most priceless skills you can leverage to free up more time, and generate more wealth in your life. It’s about adding more value to the marketplace and impacting people’s lives. Because all wealth is, is ultimately nothing more than a byproduct of value creation.
If you’re interested in learning more about how you can learn this skill and gain a competitive advantage in the skills economy we live in today, then click here to join Dan in his exclusive masterclass.