Analyzing risk is an important element of assessing the prospects compelling reason to buy. It is often a negative factor meaning that the more risk there is from the client’s perspective the lower the possibility that they will buy from you. Risk is often a personal pain. Prospects may think “I can’t afford to make a mistake.” Or they may think that it “is wise to take the safe choice”. Many times, they will not know how to articulate the risk and they may not even be aware of their own fear. But the risk is there none the less. The job of the salesperson is to ask about it and force the discussion even if the prospect does not want to discuss it. So, the lesson is to analyze the risk yourself and get the prospect to discuss it even if the prospect tries to avoid it. And it goes without saying that sometimes the risk factor works in your favor, especially if you are the name brand or the incumbent. If that is the case you should be able to command a higher price … but that is the topic for another video.
