Qualifying Customers in Sales

The key elements of teaching about sales involved assessing customer needs immediately and focusing on urgency. The main criteria were understanding what the customer is looking for, when they need it, and rating customers based on their urgency and need. The golden question taught was 'When do you need it for?', with the best customers being those with immediate needs and clear timelines for purchase.

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Barbara Corcoran has been an investor/Shark for the past 15 seasons on ABC’s four-time Emmy-award-winning show, Shark Tank. She is also the founder of an eponymous real-estate company, which she started with a $1,000 loan after leaving her job as a waitress in New York City. Over the next 25 years, she would parlay that $1,000 into a $5 billion real-estate business. Barbara is the host of the top business channel on Patreon, Barbara in Your Pocket, which provides exclusive content created for entrepreneurs at every level.

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Timestamps for this episode are available below. Resources from this episode: https://tim.blog/2024/03/06/barbara-corcoran/

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Timestamps:

[00:00] Start

[05:56] Barbara’s fake funeral.

[08:23] Where Barbara’s knack for PR originated.

[10:02] Storytelling.

[11:25] Early business wins.

[14:29] What Barbara learned about competition as one of 10 kids.

[17:27] Early jobs: Barbara’s real education.

[20:04] Dyslexia and dodging the victim mindset.

[22:50] Barbara’s first company.

[26:47] Why Barbara didn’t begrudge her first business partner’s romantic betrayal.

[28:41] The value of enthusiasm.