A high income skill that gets you results for job applications, presentations, and especially any career is closing. In fact, it will even give you success in your personal life! So what is closing and how can you apply this highly versatile tool to increase your income and accelerate your career accomplishments?
Let’s start with a definition of closing.
What Is Closing?
It’s the most important skill that salespeople, closers have in their talent arsenal. For them, if they can’t close a prospect, they don’t make a sale, and if they can’t make sales, they starve. And the importance of closing reaches even further than sales.
In our everyday lives, if you can’t close family, friends, or people at work, you won’t have much success in life. Everyday, the most successful people are closing. You’re closing when you convince a potential employer that you’re the best candidate for the job. You’re closing when a guy or gal agrees to go on a date with you.
Persuading your family to go on a camping vacation with you is a form of closing. Convincing your friends to see an action movie instead of their first choice is also closing. This is a skill that you can use every single day, even if you aren’t in sales.
So if you use this skill all the time, haven’t you mastered it already? You must have been closing at an early age, from the moment you convinced your parents to let you try skateboarding, or extend your curfew.
But the truth is, closing is a skill that takes a short time to learn and a long time to master. Closing million dollar deals is something I can do with confidence, yet I’m still learning more about closing every day.
I’ve been teaching mentees around the world, in more than 150 countries about how to close deals on high ticket offers in my High Ticket Closer ™ Certification Program. They learn how to close deals for inbound sales, and the income from this skill can easily generate you an income of $10,000 or more a month if you have the talent.
Making six figures or more a year in income from being able to close is why closing is a high income skill. Now how can you apply closing to your life?
Acing Interviews And The Hiring Process
One of the biggest hurdles in our lives is getting hired for a job. From our first days in school, they prepare us for that very moment. You see, the school system is designed to create employees.
We are told to study hard, get good grades, and then go to college. Many fall into debt while in college, so getting their first job is their first step to get out of debt. Many perks come with having a job, such as vacation pay, health and dental benefits, pension, and maybe overtime pay, depending on the job.
In return for giving employers your time, from say 9 to 5 every Monday to Friday, you get a steady income until you retire when you’re 65. That’s the path we’re taught to take from kindergarten onwards.
They don’t teach you about high income skills that can apply to many professions, such as copywriting or closing on the phone or in person. When they teach you about acing a job interview, they train you to answer questions such as, “Can you tell me a little about yourself? What do you know about this company? Why should we hire you? What do you consider to be your weaknesses?”
You’re taught to react to questions and answer them well. But what about closing a company to hire you? What can you do increase your chances? If you know what the company’s pain points are, how can you help them to get the results they are looking for?
The hiring team of the company doesn’t actually want to interview hundreds of people, or even twenty people, just to find the person that is the right fit for the job. It takes time and resources, and after interviewing ten people, they all start to sound the same.
If you can close them that you are the person that has the skills they are looking for, and you show that you understand what they need, you’ll have a higher chance of closing them. Take a more proactive role, not reactive.
Even after you are hired, being able to close is a benefit to your career, even if you aren’t in a sales role. Here are some examples.
Closing Customers On Their First Or Only Visit
Whether you are in customer service or sales, being able to close a customer within minutes is a powerful skill. You might not have had the time to build rapport or trust with the customer but you still need to make a close.
The Routine Upsell
In retail, they use a technique called the upsell. Servers don’t just serve food – they sell.
When the customer is ready to order, they might be prepared to just order the pasta dish. But the server comes to the table and asks if the customer would like an appetizer, such as the soup that is a house favorite, and only available in the summer.
The customer may say, yes, why not add a soup. It sounds like a great idea.
Servers also close customers using emotions. Facts do a poor job of selling food. Compare these two examples.
“Would you like dessert tonight? We have two types of cake.”
“Would you care for some dessert? We have a chocolate crème cake with cherries, chocolate mousse and triple sec, whip cream frosting and chocolate crumbles on the sides.”
As the customer, you can paint a picture of the chocolate cake in your mind, and you can almost taste the cherries and whip cream on your tongue, so why not order it?
The Customized Upsell
A successful sale begins with understanding the customer’s needs. It may be harder to understand the customer’s needs if you have just met.
For example, if you are the fast food cashier and you won’t know what to upsell until the customer starts to order. You won’t be able to ask if the customer would like fries with their order until they order the burger. This type of upsell is routine – hamburger upsell to a combo, drink upsell from a small to a medium.
However, as a hotel concierge, you have more time to sell the customer on a more personalized, enjoyable experience. For newlyweds, the concierge may suggest a room upgrade because it’s worth it for a once in a lifetime experience. If the guest is tired and is complaining about a long flight and sore back, then they might recommend the hotel spa packages.
A travel agent closes clients on the ideal vacation package for their client by asking questions about the client’s goals and needs. For example, is the client traveling to a foreign country for their first visit, or are they visiting family in a country they’ve been to many times before? Would they like to stay in a luxury hotel, or would a three star hotel suffice because they plan to be out most of the time?
The ability to sell is an important skill, whether your meeting with the customer is very brief, or for a few hours. When you have more time to close the prospect, such as when you have an established relationship with the prospect, then the approach is slightly different.
Closing Long-Term Customers
When it comes to closing long term customers, the concept is the same, although it may take more than one phone call or meeting to get to the close.
For example, a home buyer is not likely to meet with a realtor to buy a home immediately after viewing it. It’s not the same as picking up some groceries after work. Buying a home is a major decision because it’s a long term investment. A realtor has a higher chance of closing if they involve the buyer’s emotions.
They will paint a picture for the future homeowner. They want them to imagine their children growing up in the new neighborhood, going for walks in the nearby park. If the buyer likes to cook, the realtor will highlight the features of the high tech kitchen appliances and how they will help the owner bake delicious cookies that they can enjoy next to the fireplace at Christmas.
The realtor will close the buyer on their emotions, not on the features of the house, such as the number of bedrooms or the square footage of the garden.
It is the same for insurance sales. The agent can push features and benefits, such as the cost of the various insurance plans. The agent can also talk about the differences between the plans so the client can decide what type of coverage they want. But emotion and understanding the pain points of the prospect are what will sell the product.
However, selling life insurance is challenging when prospects are young. They think death and terminal illness is far away and would rather not think about it when they have other priorities, such as paying for a vacation, reducing college debt, or buying a home.
Successful insurance agents will ask a lot of questions when they meet with these prospects to find out health and family information. Is there a history of cancer in the family? Does the prospect have children? Is it a single or dual income household?
When they have this information, they have an easier time closing the prospect because they will know the prospect’s fears. Perhaps the prospect had an aunt who died from cancer and the long term care was extremely costly without insurance. Perhaps the prospect is the main breadwinner of the family and they work at a dangerous job. These details are the pain points of the prospect and a motivator for the prospect to buy insurance.
A Skill For Many Careers
Many people might not be aware that they are closing because they aren’t in sales. Real estate and insurance sales are two examples of high income careers where you must be able to sell, or close a deal, to make an income.
But closing is a valuable skill for other occupations. Doctors close patients on why a specific type of treatment is necessary for their care. Maybe the patient doesn’t want the treatment because of the hassle or the risk, so the doctor may need to paint a picture for them about how they will feel when they have recovered.
A teacher may close a student on why they need to improve their grades. A soccer coach could close a soccer player on showing up for practice early in the pouring rain. A financial advisor may close a client about one investment option over another. Having an established relationship with the prospect or client is an advantage because the trust is already there.
However, the skill of closing is still the same. They need to understand the other person’s pain point to be able to close them.
Closing As A High Income Skill
No matter which career you choose, the ability to close will get you to your goals faster. If you’re applying for a job, you’re closing the potential employer to hire you. If you’re making a sale, you need to be able to close. Even if you aren’t selling, if you can close the customer on agreeing to a certain option. For example, convincing them to come back for the later show.
You can close a customer, whether you’re working at a fast food restaurant, or at a five star hotel. Now, if you’re closing customers on buying car insurance or purchasing a new cellphone, you won’t be selling high ticket items.
How can closing be a high income skill if your salary is just $50,000, whether you sell one phone a day or a hundred phones a day?
A high income skill is a skill that can earn you a six figure or more income. For example, $10,000 a month or $120,000 a year. So how can you make that income from closing?
How To Make A High Income
It depends on what you are selling and how you are paid. Some of the highest paid closers make commissions on inbound sales for premium products. For example, realtors who make commissions on property sales. Or closers who make a commission for closing a million dollar joint venture deal.
I have a team of closers who work from home answering calls from inbound leads. These prospects are interested in a course, program, or service, after watching a webinar or reading a lot of information about the company or business. They are considered warm leads because they have shown interest in the product or service and they’ve booked a call to talk about making the offer.
These closers can make 10% commission if they close the deal. For example, the prospect decides they want to invest in a business program for $2500. The commission to the closer would be $250.
If the closer makes two sales a day, working five days a week, then they can potentially make $10,000. Or, if they close million dollar deals a few times a year, they would also make a high income from commissions.
Final Thoughts On Closing: The High Income Skill For All Careers
Always be closing, whether it’s in your personal or professional life. It’s a necessary skill. If you can’t go on a date, you can’t close someone to go out with you. If you can’t get a job, you can’t get an employer to hire you.
It doesn’t matter which career you choose, if you can’t close, then you can’t persuade, or you can’t make a sale. Customer service people use upselling as a technique for making more sales. Realtors and insurance agents use painting the picture and finding the needs techniques to close a deal.
Closing is a skill that can give you an advantage in any career. You can close employers to increase your salary. And you can close clients to invest more on your services.
You can make a high income from closing if you sell high ticket products or services. I’ve trained closers from around the world to close inbound leads on high ticket offers. It’s possible to make a six figure income from closing deals.