How Can I Overcome The Objection “I have no money!”

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November 21, 2019

How Can I Overcome The Objection “I have no money!”

We’ve all heard the age-old adage, “Money can’t buy you happiness.” After all, there’s a reason why we all like to cling to our dollars for dear life! The thought of spending on something that won’t bring you happiness is ingrained in our minds as BAD. 

That’s why, for businesspeople, it’s typical to hear the objection “I have no money!” We get it, you don’t want to spend on something that won’t do much for you. I’ve dealt with “I have no money!” in all its forms, and I’ve learned to respect it. I’m not going to push you or pry money out of your wallet; instead, I’m going to make sure I clarify, ask questions, and turn it around for the client. The next time you hear this objection, try out some of these ways to overcome it.

Clarify What They Mean

Some people take “I have no money!” as a no with a capital N, and they leave it at that. Rejection scares some people away, and the focus shifts from persevering to backing off altogether. Don’t do this! Instead, ask questions. Dive deeper. Figure out exactly what they mean when they say they have no money. 

That doesn’t mean you should intrude. This is a chance for you to say, “When you say you don’t have money, what exactly do you mean by that?” By saying something like this, you’re making a connection with your client. You’re trying to find out where they’re coming from. 

Ask Questions

I’ll say this through and through: Sales is a two-way street. In order to get to know your clients, you need to ask questions. I like to go beyond the surface level. I’ll ask something like, “”Let me ask you something. If you did have the money right now, is this something you’d do right now?”

Not only does this make clients really think about their wants and needs, but it tells me what I’m working with. When you hear “I have no money!” it’s time to get real and check in. Check in with yourself, and check in with your client. 

Believe in Your Product

Whatever it is that you’re selling—whether that be a product, service, or tool—believe in it. First, the product or service should be good. You should make sure you’re selling something that adds value to people’s lives. Once you’re sure of that, believe in it wholeheartedly. 

Your product should add more value than its price, and if that’s the case, the sale is a no-brainer. When someone tells you they have no money, your response will revolve around the fact that you can offer more value than the cost of the product, which is a smart business decision for anyone. 

It may sound impossible to overcome a statement like “I have no money!” In fact, you deserve a pat on the back for getting this far. It’s easy to see it as an immediate roadblock, or worse, to not recognize it at all. Props to you—you recognized it, and you’re ready to overcome it. Get out there and show them what you’ve got!

This article you just read now is an important part of my Get Clients. Not Leads.™ philosophy. It’s about how to deal with a common objection, but you can use this format to deal with many different types of objections! I recommend you read the article “How To Get Your Strategy Calls To Turn Into Paying Clients!” next so you can see how to get more paying clients consistently in your business!

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