An Insight a Day

No Often Means They Don’t Know

This is something I've learned a while ago from Zig Ziglar's Secrets of Closing the Sale. Most people will instinctively say 'no,' especially when you're trying to sell them something. And once they've said 'no,' it can be very difficult for them to voluntarily change their mind, even if they want to, because doing so would mean admitting they were wrong. So what can you do? Give them an excuse to change their mind, they will be delighted to make a new decision based on new information.

No, the prospect won’t change his mind, but he will be delighted to make a new decision, based on new information. Example: “Why didn’t you tell me the property was outside the city limits and I won’t have to pay city taxes?” He’s in the process of making a new decision based on new information. “Why didn’t you tell me we could print on both sides of the paper? Even though it’s a little more expensive per sheet, it saves us money because we double the usage.” He’s making a new decision based on new information. “You should have explained that this model comes with ‘four on the floor.’ My teenager would not want any other model.” He’s making that new decision based on new information. Since prospects will make new decisions based on new information, the sales process demands that you try for the close as soon as you have established value or aroused desire for ownership, but before you give all the information.

If you wait until you’ve given all the information before you try to close, that would be an even more serious mistake. Some prospects automatically say no on the first attempt to close so that they won’t feel they were “easy”—and that they didn’t carefully investigate before they bought. More importantly, they fear they will look foolish if they make a fast decision which turns out to be wrong. Many times these prospects who initially say no are actually saying, “Tell me more. Give me more information. Make me feel secure that a yes decision is the right decision. In short, make it easier for me to buy.” Your job as a salesperson is to do exactly that—make it easier for the prospect to buy.

Zig Ziglar

Your Online Privacy

I value my online privacy, I don't like it when websites track my behavior or browsing pattern, which is why I use a privacy-focused browser that blocks ads and trackers by default. So now that I'm building my own blog, I'm faced with a decision. Do I install google analytics and track my visitors? Or do I stick with my values and create the most privacy-friendly blog ever?

To be honest, it wasn't a particularly difficult decision. Since I'm using WordPress, the hard part is in understanding what WordPress and all its plugins are doing. For example, I don't actually know whether this blog uses cookies or not, or how it's being used. Fortunately, a quick search online tells me that yes, WordPress does use cookies, but it's mainly for logged in users and commenters.

Other than that, I've made sure that there are no ads, no trackers, and no visitor statistics on this blog! The only thing WordPress tracks are the IP address of anyone who leaves a comment, uses the contact form, or tries to log into the admin account, which is reasonable since it's mostly to fight against spam and prevent illicit login attempts. But don't take my word for it, verify it yourself with this cool privacy inspector tool called Blacklight. It lets you scan websites and tells you just how privacy-friendly/hostile they are.

Some of the plugins I have installed may or may not collect additional data as well, like my Email Subscribers plugin. By the way, if you want to subscribe to this blog via email, just enter your email in the sidebar (or footer, if you're on mobile) and follow the instructions. I've also written this incredibly short privacy policy for anyone who cares about this type of stuff so do check it out if you're interested.

What Type of People Do You Want to Attract?

Something you might not think about. When deciding what to do next, instead of focusing on what actions to take, think about the type of people who would take or be attracted to those actions. Let me explain.

Suppose you are deciding whether to pursue a degree in computer science or a degree in medicine. Instead of looking at the pros and cons of each field like the possible jobs or potential earnings, have you considered looking into the type of people who would choose computer science over medicine, or vice versa? And yes, I’m talking about stereotypes. What type of people do you think would be attracted to study computer science? What about medicine? Do you see yourself as one of them? Do you like to be around those types of people? Because chances are, you will be around those types of people a lot in the future.

A simpler example, if you decide to work in a fast-food restaurant, what do you think your coworkers are going to be like? What if you work in a non-profit trying to eradicate malaria instead, what type of people do you think that job attracts? And what if you work as a fitness coach at your local gym, what type of people do you think you’ll be interacting with all day?

Yes, it’s not good to generalize and judge people as stereotypes, but stereotypes exist for a reason and they are a good-enough heuristic to help you make better decisions. Life is all about the people you interact with every day, so what type of people do you want to surround yourself with? When making a decision, are you attracting or repelling the type of people you want to interact with?

On Bitcoin and Cryptocurrencies

Something I’ve been thinking about a lot recently, especially with all the recent headlines on bitcoin reaching all new highs. I mean, just head over here to see how crazy it is! Anyway, I’m not here to tell you why you should or should not invest in cryptocurrencies, or how they may or may not revolutionize our current financial system. Instead, let’s talk about the bigger picture.

I recently asked a friend if he still holds any bitcoin and told him that I’m considering buying some. He replied (slightly paraphrased) “I believe the correct term is HODL… and well, I can’t blame you for the FOMO but I’m not in the position to recommend anything.”

I didn’t realize it until then but FOMO just about sums it up. The reason why I suddenly want to buy bitcoins is that I’m afraid I’ll miss out. I’m afraid that cryptocurrencies might change everything we know and love (and hate) about our current financial system. What if bitcoin goes high and stays high? What if bitcoin becomes the next digital gold? What if cryptocurrencies end up replacing fiat money one day? What if I could make millions if I buy now, HODL forever, and watch its value soar? What if…

But the thing is, no one knows. Go do an online search right now and you’ll find tons of arguments for and against bitcoin. You might choose to believe one side over the other, you might think one side has a better argument than the other, but at the end of the day, no one can say for certain how the future will play out. So what if you miss out on this opportunity to be super-rich? So what if this is a historical turning point that ends up revolutionizing our monetary system? Aren’t you just going to carry on with your life anyway?

I know it’s tempting to just buy bitcoins right now without thinking, especially considering all the FOMO right now. But I think the smarter choice is to revisit your financial goals. Go back to the basics, what’s your current financial situation or portfolio like? How much risk are you willing to take and have you done your homework on how to buy bitcoins?

You don’t need to think too deeply about cryptocurrency as a technology or the potential future it may bring. Just think about yourself and what would make sense for you to do. If you want to buy bitcoins, and you have the financial means, and you don’t mind the potential risk of losing your money, then buy it just like you would any other investment. Otherwise, don’t.

An Insight a Day

The title says it all, this blog is all about discovering the many insights life presents to us every day. I hope to be able to write something interesting every day but we shall see.

But be aware that 50% of my posts are going to be below average, not because it’s hard to find unusual insights or generate thought-provoking ideas every day, but because of statistics. See, the definition of average means half of what you do will always be below average while the other half above average. 🙂