Episode 294： How To Handle Rejection As An Entrepreneur
Episode Stats
Words per Minute
213.93526
Summary
In this episode, Pat talks about how to deal with rejection as an entrepreneur and why it s okay for others to reject you because you do it 30 to 100 times every single day. How do you deal with it? 1. Perspective 2. Two types of rejection 3. Lifelong of feelings 4. Anticipation
Transcript
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I'm Patrick Bedeby, host of iTunes, and today we're going to talk about how to handle rejection
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Number one, look, everything I talk to you right now about rejection has to do with perspective.
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Some people have a hard time dealing with rejection, yet at the same time, they do it all the time.
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Matter of fact, today, odds are you have already rejected 30 people today.
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If you block somebody, if you press and call to somebody, if somebody sends you a text
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and you know you got the text, you read the text, they see you read the text, you don't
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respond to it, in the email you move to junk, that's all a form of rejection.
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So, when people start kind of looking at it and say, well, I'm so afraid of rejection, what
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You don't want to do business, but you don't want to be connected with some people.
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So, when you think about it from that perspective, it becomes okay for others to reject you because
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One could hurt your feelings, and I understand that.
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The other one that hurts your feelings, I don't understand that.
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If your kid rejects you, and your mother rejects you, your father, your husband, your wife,
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if they reject you, of course it ought to hurt a little bit because it's people you love.
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But if somebody you're trying to do business with who doesn't know you, who doesn't really
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care for you, who doesn't love you, who doesn't know how you are as a human being, and they
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don't yet see you being able to feel a need for them, yet is the key word, why are you
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You're somebody that's just a stranger they met, right?
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Now, the more that relationship gets deeper, they then feel more committed to wanting
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But if they do reject you, you have to have perspective and say, this wasn't my mom, wasn't
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my dad, wasn't my sister, wasn't my kids, wasn't, this is, I've never, I'm probably
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In that split second, if you tell your mindset that thing, you're out of it.
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There's not a single person that doesn't like being rejected.
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But the difference between the high achievers and the rest is their lifespan of how long
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The average person who gets rejected, they think about it for days.
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Now, and eventually the goal for you is to go from three days to one day to six hours
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to, you know, one hour to ten minutes to three seconds.
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So your goal is to constantly shorten the lifespan of the feeling you get from being rejected.
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It is never going to go to zero seconds because when that happens, you're a robot.
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And you ain't going to be a robot anytime soon.
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But you want to bring it and make it as short as you can as possible so you can move on
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I think 20 years ago I got this from Tom Hopkins.
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It's four reasons why people buy and four reasons why people don't buy.
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So when you know this, why people buy, and you notice why people don't buy, you know how
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to tailor your presentation or the way you speak to the client.
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So you're already addressing it before things come up.
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I went to a store the other day to look at a Patek Filippi watch, right?
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The guy starts explaining to me the history of Patek Filippi watch.
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It takes a thousand people to build one Patek Filippi watch.
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Some of you guys are going to say, Pat, that's insane.
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Now that's the reason why it costs a couple hundred thousand dollars to buy their watch.
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Upwards of one of their watches sold for 25 million bucks.
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He started telling me the scarcity of owning this watch.
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The way he sold security is these things always keep their value and they go higher.
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It was security, status, and scarcity the way he sold it.
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So now whatever your product is, you've got to look at your product and say, why would
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Because you're approaching with neat and your product is not a neat.
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You've got to change that adjustment so you don't get rejected that often.
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You say, look, John, Mary, the clients that I deal with, they take their investments
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And because of that, they want to make sure they make the right decisions because they want
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Say your product has to do with real estate, courier, and so they want to be around the
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They want to have a peace of mind that if they buy this property, long term, at least they're
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So when you buy real estate, you have something tangible.
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Because if you're planning on living in this house, like you said, for 20 years, you don't
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Here's how real estate's done the last 20 years.
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Need to live in a place to raise your kids with the school program that we have in this
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You're addressing it in your presentation or you're going through this and you address
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Then the rejection level goes lower because you're getting better at sales.
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Again, I can go deeper in this, but I'm just giving you a glimpse of this year.
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That's going to be three hours of me teaching A through.
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I'll be teaching a sales course, online sales course that you can go out there and buy.
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It'll teach everything that I look at when I'm developing a salesperson, but it's not
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You know, I remember when I was coming up and I was selling, I was testing so many different
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They didn't buy, but at least I went into their house and they were willing to listen to me,
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but I didn't do well because I wasn't good here, but at least I got in.
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So, man, I'm getting better at getting into the house and getting my foot in the door.
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This is pretty exciting because that's one skill to get a foot in the door, right?
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I mean, there were so many, one of the ones I would do is the following.
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I would say, listen, John, can I ask a serious question for you?
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And they would say, I'm sorry, what do you mean?
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In the next five years, you are going to do business with me because I'm not going to
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stop following up because I know my product is good.
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I'm just trying to save you five years by doing business today and not waiting five years
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But I had so many different approaches that I tested or there's probably a couple hundred
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And then when it worked, I taught it to my sales team.
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When it worked, I taught it to our sales organization and it kept going over and over
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Don't be afraid to test around and say, wow, this worked.
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Listen, this, to me, hands down, I saw so many people in sales that I would compete with.
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They would say, some will, some won, so what next?
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And that may be a good philosophy for motivational speakers to sell.
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You know, if somebody doesn't want to buy, move on.
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Sounds maybe good to trying to get rookie people to feel good about being rejected.
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But maybe you got rejected because you're actually not good.
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Maybe you got rejected because your approach isn't good.
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Maybe you got rejected because you're not paying attention to detail.
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So you want me to keep telling you you're doing a great job and keep failing because your approach
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For me, coming up, I took that philosophy for the first two, three years of sales.
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92% of salespeople quit before the fifth magical contact they make on follow-up.
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The fifth time, they're going to say yes, but you stop following up.
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Follow up has to do with nurturing a relationship, right?
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If you want to go and have a one-night stand sale, that's fine, but it's not going to
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But if you want to have a nurturing relationship to make the sale bigger, that's the follow-up
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You save their number in store and put their date of birth, anniversary, favorite sports
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team, so you remember stuff about them because you're nurturing the relationship.
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A person who nurtures a sales relationship versus one who doesn't nurture a relationship.
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The one that doesn't nurture the relationship and goes deeper makes a 47% bigger sale than
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I sell for $14,400, but your sale is only $10,000 because I nurtured the relationship.
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Your sale is $100,000 commission because I took that additional step to nurture the relationship.
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And because somebody follows up the fifth time, 92% don't.
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You're in a whole different league, so you look at this.
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Can you imagine if somebody says, oh, someone, someone, so what next?
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You just cost them tens of millions of dollars of possible commission.
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If you want to go deeper in the follow-up kink, I did a video a couple years ago called
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Customer Experience versus Customer Service, something like that.
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Let's put a link up here so they know what it looks like.
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That'll give you a little bit more deeper on what's the difference between customer service
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Number seven, role-play your approach with your mentor.
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Instead of going in your car, harping on what took place, and on that 30-minute drive to
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your next appointment, actually call your sales manager.
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Call your sales, whoever it is that you can call that you're reporting to and say, here's
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And then you explain whatever areas that you felt was a leak.
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Next time, this goes lower because you got better.
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She would always come and say, hey, I watch your content.
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And I asked her to go to her sales manager to get the top 20 FAQs.
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How is it possible for a sales company to not have top 10 objections and how to overcome
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Half the time is sales leaders and sales managers running a team don't have a duplicatable model
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on how to overcome every single objection that comes up, which is typically about 20 of them.
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And once you know the FAQs, you increase the ratio of closing.
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They don't feel worried about being rejected because they're going to close and they're going
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And if no one has it in the office yet, go ask everybody.
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Anytime some rejection would happen, you've got to figure out a way to distract yourself immediately.
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Whatever way you can figure out a way to distract yourself.
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If it's getting up, walking around, make the call back.
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If it's changing the music, putting something like a rocky music that fires you up.
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But you've got to figure out a way to create an immediate positive distraction so you're
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not getting too much into it so you can make that next call, next appointment.
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Number ten, last but not least, make it past fight or flight.
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So, say you don't know me and I don't know you, okay?
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Your immediate reaction not knowing who I am is one of two things.
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Our brain is wired in a way for it to guard and protect us.
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The first immediate reaction is the following, I don't know who this is, I'm either fighting
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Your goal is to try to keep me through flight or fight.
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If you can keep me past fight or flight, then what comes in place is your ability to sell
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So, the way you get past fight or flight is to make me feel comfortable knowing I'm in
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Maybe likability, maybe commonality, maybe an area of interest that you have in me.
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Then I'll actually say the truth, which is, what do you have to offer?
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If you can make it past fight or flight, you actually now become in a territory where you're
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going to be judged based on your ability to be able to sell.
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And I'd much rather make it there and get to the point of knowing if I can sell or not.
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But it's so amazing how many salespeople are great at selling, but they don't know
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If you get past fight or flight, the rest of it's going to be typically a lot easier
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And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.
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And if you have any questions for me that you may have, you can always find me on Snapchat,
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And I actually do respond back when you snap me or send me a message on Instagram.