Luis Scott is the Managing Partner at Bader Scott Injury Lawyers, where he represents people who have been injured or disabled in severe accidents. He is also the Owner of 8 Figure Firm, which provides consulting services and insider knowledge to national law firms. As Bader Scott’s managing attorney, he handles over 150 employees and contractors and has led the firm to be recognized by the Atlanta Business Chronicle as one of the fastest-growing businesses in Georgia.
Luis has received numerous awards and accolades, including Super Lawyers’ “Rising Star,” The National Trial Lawyers Association’s “Top 40 Lawyers Under 40,” and the American Institute of Legal Counsel’s “10 Best Attorneys in 2017” for workers’ compensation.
Here’s a glimpse of what you’ll learn:
- How Luis Scott mastered the art of selling
- The five confidences of an effective salesperson
In this episode…
Do you want to own a multi-figure business? Sales are the secret to achieving professional growth. So what are the leading sales strategies to increase conversion rates and cultivate a thriving company?
Contrary to popular belief, selling doesn’t require significant coercion to achieve results. According to Luis Scott, all you need is confidence. The five levels of sales confidence are product or service, pricing, value, delivery, and self-confidence. If you want to master the art of selling, you must have adequate knowledge of your product or service, believe in your pricing and the value proposition, deliver your service with conviction, and trust your ability to sell effectively.
Join Luis Scott as he talks about having confidence in your sales strategy on this episode of The Guts and Glory Show. He shares the five confidences you must display to sell successfully and how he mastered the art of selling.
Resources mentioned in this episode:
Sponsor for this episode…
This episode is brought to you by 8 Figure Firm.
After their own law firm scaled from $3.5 million to $30 million in annual revenue in just two years, Luis and Seth started 8 Figure Firm to share their strategies and help other law firms achieve exponential growth.
Visit www.8figurefirm.com to receive a consult call and start scaling your business today.
Welcome to The Guts and Glory Show. You want to take your business to the next level next level. So you need to hear from someone who’s done it all. Get ready to soak up all the useful information. The Guts and Glory Show now your host, Luis Scott.
Luis Scott 0:21
Hey, guys, welcome to The Guts and Glory Show, I am your host Luis, and I’m so excited that you’re here. This is a show dedicated to helping you learn just a little more so that you can be bigger and better than you were before. And everything we do is dedicated to helping you grow as a person, and as a professional. And ultimately, if you’re an entrepreneur, as an entrepreneur, so today, I’m gonna be talking about something that is absolutely critical to your success if you want to be successful in business. Honestly, if you want to have a six figure salary, it’s really easy. It’s called sales. It’s called sales. But don’t leave, don’t leave, don’t leave, don’t leave, don’t leave, don’t leave just yet. We’re going to do sales in a good way. And it’s not about being pushy, it’s not about convincing someone to do something they don’t want to do. It’s about having a certain type of confidence. So I’m gonna take a few minutes here and I want to explain the five confidences that you have to you have to have in order to be a great salesperson, and the five competencies that are going to make you ultimately succeed at a level that you can command, six figure salaries. Now, I’ll tell you that my story is really a story of of sales, whether it was selling myself or selling a product. Part of the reason that I added so much value to my life, personally and professionally, and ultimately, financially was because I had mastered the art of selling now, what I will say is mastering the art of selling is something that’s That’s very odd to say, because selling is a unique skill set. And I don’t actually think that you can ever master selling but to the extent that I could master selling I did. And I’ll tell you my background for those of you guys who have never heard this, but I in the legal industry, I sold over 3500 clients personally 3500 clients to hire our firm for legal services. And I did that personally with one on one, sales tactics. And then for 8 Figure Firm, I have sold millions and millions and millions of dollars of consulting services. And so I have a little bit of experience in selling. And I just want to share the confidences that you have to have if you want to be a great salesperson, if you want to be somebody that can command the room, sell effectively, ultimately get the yes and end up with the prize, which is a financial gain. At the end of it, there are five competencies that you must master. Now these confidences some of them have to do with you. And some of them have to do with the marketing, some of them have to do with the business. But ultimately, you have to master these competences if you want to be bigger and better than you were before. So the first one is product confidence. Now, as a salesperson, you may not have control over the product that you’re selling, especially if you are not the entrepreneur, if you’re just a salesperson for the company, you may not have control of that product, but you have to have confidence in the product. And what I mean by that is you have to have the confidence that the product can actually do what it says that it’s going to do imagine you’re going door to door selling a cleaning solution or a vacuum, I had friends come over to sell us Kirby vacuums back many days ago, if you didn’t believe in the product, it’s very unlikely that you’re going to sell that product with confidence. So it’s critical that when you are selling something that you know the product in and out, there should be no question about any feature of the product. And the product could be a service. So if you’re selling a service, whether it’s a legal service, or financial service, or even maybe tax services, you need to know the product in inside and out every aspect of the product, every feature of the product, every benefit of the product, you need to have the full confidence in the product. That means you have to study the product. And you have to be willing to spend time with that product. And again, when I say product, I mean service to because a service could be a product so that the first competence that you have to have is the product confidence. The second product you have to have is the price confidence. Now this one is gets a little tricky. The other day, I was talking to a client of mine and they were telling me that they hired a salesperson who was a phenomenal salesperson at Starbucks. And I said well, there’s a big difference between selling a Starbucks coffee and asking to upsize the coffee with caramel and selling a $10,000 legal service. I mean, the price disparity is very, very different. And what I learned in sales and working with many salespeople is that people have a threshold for their price confidence. A person who is making 15 $20 An hour may have a hard time convincing someone to pay $800 an hour for a service or convincing someone to pay $20,000 for a vacation or some, you know, 2000 $3,000 for a vacuum, you have to have price confidence. And by that I mean that you have to believe that the product that you now have the confidence in is worth the price that you’re asking people to pay for. Because what’ll happen is that we generally fall into the lowest price that we have the confidence for. So assuming you have this product or service, let’s call it a legal service, and you’re selling the legal service for 10,000. But you’re willing to accept 7500, and you have a salesperson who only has the price confidence of 7500, they are always going to sell it for 7500, they’re never going to find a reason to sell it for $10,000 because they don’t have the confidence in that price. And so I’ve had salespeople here at the at the business that only have the price competence for two or $3,000. They do that all day all day long. They’re selling things for two to $3,000 Ask them to charge the client 10,000 They’re gonna go Oh, for a million, they’re never going to get a single sale, because they don’t have the price confidence.
This show has been brought to you by 8 Figure Firm Consulting at 8 Figure Firm, we help law firms turn into law businesses. Stop wasting your time with gurus who’ve never built a successful business at 8 Figure Firm will show you how to unleash the power of your law firm for personal and financial freedom. For more information, go to 8figurefirm.com. Welcome back to The Guts and Glory Show with your host, Luis Scott.
Luis Scott 6:39
And your price confidence has increased by your belief in the the ability for you to deliver on the product that you have. And so price confidence is something that has to be developed over time. And you want to make sure that you have price confidence. So now you have product confidence, you believe in the product, you know everything about the product, you’re 100% bought into the product, you have price, calm confidence, you know that the price is a price that you’re willing to charge people for, and you’re willing to, to get a reasonable person to buy. And now you need to have what’s called product value confidence. Now, this is kind of like the combination of product confidence and price confidence. But product value confidence is where you believe that there is enough value in the product for it to be purchased. So I’m gonna go back to the vacuum one more time, let’s just assume that you have a product like a vacuum and you are 100% Confident in this vacuum, you know everything about the vacuum, you know everything about the product, the ins and outs, the bags, the the wheels, the brushes, everything about it, you have confidence in the price, you you feel comfortable selling a vacuum at $2,500. But you don’t believe that the value is there for 2500, you have sold vacuum for 2500, it’s just the vacuum that you’re selling is not worth 2500. That means that you don’t have the confidence in the value of the product. How does this show up in a service business? Well, you may have confidence in the product, because you know that the product is a good product. So you say you have a good legal product, you may have confidence in the price, it’s $10,000 is the right price have competence in selling that. But you may not believe that the value of the product or the service that the person is is giving is enough. And how is that showing up? Well, maybe you have bad lawyers. And maybe you have bad staff that don’t deliver the value the way that you you say I’m willing to I’m willing to charge for this product, I have the confidence in it. And I’m willing to charge the price. But I don’t I don’t have the confidence in the value. And that’s a different thing. So people confuse having product confidence and product value confidence has been the same thing. It’s not, you can have confidence in the product that you know and understand the product, you can have full confidence that you know and understand the product, you can have full confidence that you know and believe in the price of the product. But you may have no confidence that the value of the product that you’re selling is there maybe at another law firm, maybe at another service based business, maybe at another plumbers company, maybe a different product is there but not the where you’re working. So if you’re a salesperson, you have to have value, confidence. And that’s what their confidence. The fourth confidence is that the confidence in the delivery of the service. And so if you’re selling a deliverable service, or if you have a product that is supposed to do something, you buy a product that is supposed to change your life for whatever reason or you buy a service that is supposed to be delivered in a certain way. You have to have confidence in the delivery of service and I’ll give you an example of this. I hired a handyman to come to the house and he sold us on on the product conference he told me all about the the his ability to do cabinets like he was like I can do cabinets. I can do this. I can do that. He told me the price. He was confident The price who’s going to charge $300 to do it, he was confident sold me on that. He said, the value is there, man, I’m going to take care of this, it’s gonna be awesome, you gotta be able to open up, the cabinets are gonna be great. Now there were actually drawers, excuse me, the drawers, he was gonna be opened up. But then I didn’t have confidence in the delivery of the service. i By the way, the funny thing about this, I actually ended up hiring the guy anyway. And I was right. When he started telling me things like he hadn’t done a lot of these, these weren’t his specialty, but he could do it. So he had sold me that he understood drawers, he had sold me on the price, he had sold me that the value was there, because if he could do it, it was actually valuable. But he was not selling me on the delivery of service. And I hired him because I couldn’t find anybody else honestly. And he was right, the delivery of service was terrible. But you have to be able to have confidence in the delivery of service at the service that you’re going to deliver is on par with the value and the price and the product. And then the last thing is where you have to have confidence is you have to have self confidence. A person who a salesperson who doubts their ability will not sell a salesperson who is not willing to believe in their ability to sell, if you have this mindset of nobody’s gonna buy from me, nobody finds value in me, nobody thinks that I’m worth it. Nobody that is you’re never going to be able to sell you have to have a tremendous amount of confidence in yourself. And so the five confidence is that you have to have you have to have product confidence believe understand the product. At that price confidence, you believe that the product is worth the price, you have to value confidence, which means that you believe that the product or service value is there for the price, you have to have confidence in the delivery of service that the service is going to be delivered in a way that that that justifies you charging a client and then you have to have self confidence. And if you put those five confidences together, what you’ll find is you’ll find a conversion rate that is 80 plus percent. And I say this not to toot my own horn, I don’t say this in any way to be boastful, but both in my contingency based practice. And in my cash based practice, which is where you’re asking for cash upfront, I’ve had an 80% conversion rate over the last 20 years in sales. And it’s because I put these competences together, and I have proper follow up. And I’m willing to show the value proposition and do it in a confident way. And when you do that, you’re going to be a great salesperson, you’re going to you’re going to increase your income, you’re going to increase your revenue, you’re gonna be able to sell anything and that sales that sales is a superpower in your life personally, professionally, and financially. For more.
And to learn more about Luis hit the website at LuisScottjr.com for consulting opportunities 8figurefirm.com. That’s the number 8figurefirm.com We hope you’ve enjoyed this show. Make sure to like rate and review and we’ll see you next time on The Guts and Glory Show.