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Techniques That Helped Jeremy Miner Jump From $0 to $2.4 Million

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When Jeremy Miner, the CEO of 7th Level Communications, first started out in sales, he noticed something: nothing he was doing was working (similar to many salespeople’s first experiences). He, like us, had been taught many techniques from the old sales model and from so-called ‘sales gurus,’ but he wasn’t achieving the six figures a year that they said he could make following their techniques. At the same time, he was in college studying Behavioral Science and Human Psychology, and he was struck by how what he was learning about the human brain contrasted from what he had been taught in sales. He was studying how the brain makes decisions and how people are persuaded to do something. It was the complete opposite of the traditional selling techniques.

“I knew I wanted to succeed in sales. To do so, I knew I needed to take a giant leap outside my comfort zone. Following the status quo wasn’t going to work,” Miner said. “So, rather than just listening to the methods I had been taught, I decided I’d go in search of another sales training program with the behavioral science elements of sales. I searched… invested in many training courses… attended many events… and read many books. But none of them had the questions that I needed to ask to get my prospects to persuade themselves in a step by step sequence rooted in human psychology.”

So… he created it himself. “You may think that would’ve been easy, since I was studying behavioral science in school. Far from it! But as I continued my trial and error process, I eventually got to a place where I mastered the series of questions that I now call ‘Neuro-Emotional Persuasion Questions’ (more on these soon). And, the year I finally felt I had mastered it, I ended up making $2,370,485 dollars in the year in straight commission as a W-2 sales rep.”

Techniques That Took Jeremy Miner to $2.4 Million

 Miner now teaches students around the world how to practice the new mode of selling, which means ditching the traditional model. He goes in depth into each of the neuro-emotional persuasion questions in his course. These questions are intended to help the prospect convince themselves that they need what you’re selling.

  1. Asking questions more than presenting. “I now tell my students that prospects should be the ones talking for about 80 percent of the conversation. To guide this, ask questions. “Engage, don’t tell” is one of the three main forms of communication that I teach in the new model of selling. The “Old Model’ of Selling DOES ask some questions. But, 99 percent of salespeople don’t ask the ‘right’ questions at the right time in the conversation. They just ask ‘surface’ questions which only get you the superficial answers from your potential customers.

Rather, it’s critical to ask specific, skilled questions that bring out emotion from your prospects on what their problems are doing to them. These could be what I call ‘problem awareness’ questions where you ask what problems they have, and how they’re affecting them. These are followed by ‘solution awareness’ questions, where you ask what they have done in the past about solving their problems, what has worked, and what hasn’t, which helps them view you more as a trusted authority who is there to help them, and not just sell to them,” Miner said.

  1. Helping the prospect recognize the consequences of not solving their problem. “Another type of NEPQ question that is particularly effective is what I call ‘consequence questions.’ Once you have established what the problem is and what the solution could be, it’s important that the prospect states out loud the consequences of not resolving their problem. In other words, they hear in their own voice what would happen if they don’t solve the problem (buy your solution) — what they’d be missing out on. Perhaps this would be lost social media exposure if they don’t purchase your social media organic reach service, or they lose a sense of safety if they don’t immediately purchase your security device system,” said Miner.

When they are the ones to say it out loud, they’re more likely to persuade themselves. Contrast this with if you filled in the blanks for them and said, “You’ll lose social media exposure if you don’t purchase this today.” The fact that you were the one to say it totally changes the effectiveness of the statement. Even if that’s completely true and they believe it, too, they don’t want to hear you tell them — they’ll likely get defensive and get off the call.

  1. Engaging and discovering in a helpful conversation. 

So, it shouldn’t just be following a script or giving a pitch, but it shouldn’t just be asking questions, either. Rather, the best sales conversations work in a banter between salesperson and prospect. I call this ‘learning and discovering from each other.’ Imagine this like you’d talk with a friend who you had no intention of selling to. You ask your friend how business is going, and they complain about something related to what your business solves. So, you ask some more questions to understand more, then mention what you do. The equal playing field is your mutual curiosity to hear what the other has to say.

It shouldn’t be any different in a sales conversation. It shouldn’t be you shoving your product pitch down a prospect’s throat. That’s simply not what they want, and a great way to lose a potential sale.

To learn about Miner’s exact NEPQ process, visit his website: 7thlevelhq.com.

Rosario is from New York and has worked with leading companies like Microsoft as a copy-writer in the past. Now he spends his time writing for readers of BigtimeDaily.com

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Business

What Is Debt Consolidation and How Does It Work? 

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Debt consolidation combines all debts of an individual, often high-interest ones like credit card bills, into one payment system. 

Suppose you can secure a reduced interest rate. In that case, debt consolidation may be an ideal option for you, assisting you in reducing your overall debt and restructuring to help you clear it quicker.

This guide will walk you through what debt consolidation is and how it works. 

What Is Debt Consolidation?

Debt consolidation is a debt relief alternative that helps consumers bind multiple financial obligations in to one that can be regularly paid with a consolidation loan or a debt management plan (DMP).

This approach lowers the charges on debts and reduces the monthly payment. Debt consolidation sorts out the challenges faced by consumers, especially those who find it hard to service their numerous bills on time.

How Debt Consolidation Works

To consolidate debts, a borrower may request their bank or other loan providers for a balance transfer credit card, a personal loan, or a similar debt consolidation instrument. 

In the event of a debt consolidation loan, the lender may instantly clear off the borrower’s outstanding bill, or the borrower may collect the money and pay their remaining sums. 

Similarly, most balance transfer credit cards feature a recommended method for combining a cardholder’s current credit cards.

Although debt consolidation frequently reduces the amount a debtor owes monthly, it prolongs the repayment term of the merged debts. 

However, consolidating debts simplifies the payments process, making it simpler to handle finances—this is particularly beneficial for borrowers who have problems managing their money. 

Once the debtor’s old liabilities have been sorted with cash from the new loan, they’ll make just one monthly payment plan on the new loan.

Is Debt Consolidation The Same As Debt Settlement? (50 words)

While these are debt-relief options, they have a distinct difference. 

Debt consolidation transfers the borrower’s loan from multiple creditors to a single creditor but does not reduce the initial amount. 

On the other hand, debt settlement targets to lower the consumer’s debt levels. Settlement firms do not give loans; instead, they negotiate with creditors on behalf of the debtors.

Types of Debt Consolidation 

1. Debt Consolidation Loan

Debt consolidation loans are personal loans used to reduce a debtor’s interest rate, simplify payments, and generally better loan terms. 

While personal loans are often accessible in credit unions and banks, many online loan providers also provide debt consolidation services. 

However, before picking an alternative, you need to seek debt advice to give you an insight into the hidden risks. Reputable FREE debt advice platforms, such as Reform Debt Solutions, could help you. 

2. Credit Card Balance Transfer

A credit balance transfer happens when a debtor applies for another credit card, often one with lower rates, and transfers their entire balance to the new credit card. 

Similar to other debt consolidation methods, this approach leads to a single repayment to manage, may cut on the debtor’s monthly payment, and can lower the general fee of the debt by reducing the interest rate. 

Before deciding to go for a credit card balance transfer option, you should consider the accessibility of interest rates, transfer charges, transfer deadlines, and the implications of defaulting payment. 

3. Student Loan Consolidation

Student loan consolidation refers to binding different student loans into one. 

Besides reducing and streamlining monthly payments, graduates can benefit from borrower protections such as Public Service Loan Forgiveness. 

This concept is frequently used in combination with student loan consolidation, which entails consolidating multiple governments or private student loans into one personal loan.

4. Home Equity Loan

A home equity loan is a debt consolidation approach that includes obtaining a loan guaranteed by the debtor’s home value. The cash is given to the debtor in a single payment, and they can use it for clearing off or consolidating previous obligations. 

After the money is disbursed, the borrower pays interest on the whole loan. Still, since their property secures the loan, they are likely eligible for a considerably lesser interest than a debt consolidation loan.

5. Cash-out Mortgage Refinance

A cash-out mortgage refinance happens when consumers refinance their mortgage for a sum more significant than the outstanding loan balance. The borrower can then withdraw the excess in cash and clear off other debts. 

This approach then allows the borrower to combine their other loan payments with the mortgage payment to make one payment. Additionally, when the loans are folded into a guaranteed mortgage, the rate is likely to be significantly less than the rate on the initial obligations.

Pros and Cons of Debt Consolidation 

Pros

  • Combines multiple loans into one and simplifies payment 
  • Can lower the borrower’s gross interest rate
  • May reduce a borrower’s gross monthly payment 

Cons

  • Providers can charge loan origination, balance transfer, or closing fees
  • Borrowers may lose their houses if they fail to pay off the consolidation loan
  • Some come with high rates

Bottom Line

Using debt consolidation as an option for debt relief comes with many shortcomings. And indeed, it’s not the ultimate solution to the debt issue. Unlike the debt settlement approach, which reduces your loan, debt consolidation only transfers you to another lender. Besides, most of its methods tend to extend the time for settling your debts, attracting more interest rates. 

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