#1013 The Power of Regret
That's the title of an excellent book by Dan Pink. I just read it and highly recommend it and everything else Mr. Pink has written. His books are steeped in sound science and written in a lovely conversational tone that is inimitably Pink.
I've often said that fear of loss is a significantly stronger motivator than the promise of gain. I am more likely to run into my burning home to save the $10,000 I stuffed under the mattress than I am to have saved the ten grand in the first place.
“Fear of loss and regret are “Kissin’ Cuzins.””
The ability to imbue legitimate fear of loss into an offer takes a deft hand. I'm not talking about built-in timers like a one-day sale at Macy's. I'm talking about the top of the heap sales professionals who know how to weave future regret into the conversation. Again, the big yellow flag here is LEGITIMATE. Don't tell someone the price is going up next month unless it is.
Great communicators know how to subtly insinuate that unless you accept their offer, you will experience regret.
"John, I know your schedule is tight. Unfortunately, mine is as well. If we don't schedule these training sessions today for the open week I have in April; I'm afraid we'll have to push out to next fall. Would you prefer to leave the team untrained until then?"
"Maria, I have one open spot in the upcoming mastermind group, and three of you are interested. I understand that you need time to decide. Perhaps I should give this slot to someone else and come back to you next year when a new group is forming."
Both examples exemplify an offer that is made with confidence. Confidence that the offer is strong, and that the buyer has real desire.
This works well with self-talk as well. If I’m deciding whether to visit my grandmother this Sunday, imagining how I will feel at the end of the day Sunday, having visited or not visited usually cures my inertia. Anticipated regret is a great motivator and is exemplified in one of my favorite quotes of all time.
““You can never do a kindness too soon because you will never know how soon it will be too late.” ”
Own Your Sales Gene…