The Game with Alex Hormozi - "I Forgot My Wallet" - Overcome | Ep 179

Episode Date: February 11, 2020

"Ask for the ID first. That's what gets them to take their wallet out. That way they can't say they forgot their wallet." Today, Alex (@AlexHormozi) shares with us sales tips for overcoming the common objection of not having a credit card, including asking for ID to get the customer to take out their wallet and swapping their ID for their card.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(0:43) - No one leaves home without credit card.(1:39) - Ask for ID to verify info accuracy.(2:39) - Suggest using different card if needed.(3:52) - Walk out together if you have rapport.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

And I've had this happen before. It's like, I don't have my wallet with me. And I can't tell you the amount of times where people are like, all right, I'll go and get it. Welcome to the Jim Secrets podcast where you talk about how to get more customers, how to make more per customer, and how to keep them longer, and the many failures and lessons that we have learned along the way. I hope you enjoy and subscribe.

Good morning, everyone. We guys are having a great start to your week. I wanted to give you something super tactical today. This will probably be only a couple minutes. But I just got off the phone training. sales team for in-person sales and they were closing trials and so they were like what if someone you know says that they didn't bring their wallet or they left their card at home how do I how to overcome that and so the big one is virtually no human actually leaves their card at home

so that's the first thing is you have to say like no one actually leaves their home without the credit like they don't and not like 10% or 20% like how many times have you left your house without your wallet like one in I mean probably like twice a year you know I mean it doesn't make sense, right? So you have to have that conviction first that that's not true at all, right? And so there's some easy things that you can do to overcome that. The first one is, whenever you are transitioning to the clothes, right, where you're like, hey, so you want to do it, they're like, awesome. That's where you can just say, great. So it's need your ID, right? Just to your hand, you're like, I need your ID. And so at that point, you're not asking for their credit card.

And so most people will take out their wallet or take their purse out and they'll put it on the bench and then they'll usually take the wallet out of the purse or if it's a girl if it's a guy I'll take his wallet out right when that happens they can't say they forgot their wallet but you ask for something that was in their credit card and so you do this for a couple reasons one you should ask for their ID so that you can make sure that the info is correct right and you can also have some bench oh you're from you know you're from Pomona no way you know me too too I just live around there blah blah blah right and so as you're making small talk and then after that it's like awesome just need to know whatever card you want to use and so you

take the card and you hand it back to them and you can gesture towards the wall it's like awesome and it's kind of like you're like I'll trade you right and so when you do that it makes it seem super low key and you should be keeping the conversation going during this happening and it should feel really low key now at this point if you're doing like a trial for example um this is where someone's like they might say like oh I thought it was free but like why don't I need my card down um and that's where I'm telling you and I've said this before but I'll say it again because we need be reminded more than we need to be taught you just say it's how we've always done it and you just just always how we've done it um great and you just keep going to be like

do you have the card you want to use? Or which card you want to use? It doesn't matter, right? And just like that, you can gesture back to them. So ask them for the ID first. That's what gets them to take their wallet out. That way they can't say they forgot their wallet. And then right there, you can gesture towards it because then it would be ridiculous

to them to say that they don't have the wallet. Now, if they say, I don't have the card that I want to use, it's like, no worries. Well, I just put a different card down. And then between now and the next time you come in on Monday or whatever, you can swap out the card. Fair enough? That way you can start at least and we can get you going. Okay, so just little easy things that you can do to help overcome the whole like, I forgot

my wallet, you know, whatever. The other thing that sometimes happens is real quick, guys, if you can think about how you found this podcast, somebody probably tweeted it, told you about it, shared it on Instagram or something like that. The only way this grows is through word of mouth. And so I don't run ads. I don't do sponsorships. I don't sell anything.

My only ask is that you continue to pay it forward to whoever showed you or however you found out about this podcast that you do the exact same thing. So if it was a review, if it was a post, if you do that, it would mean the world to me, and you'll throw some good karma out there for another entrepreneur. And I've had this happen before. It's like, I don't have my wallet with me, right? Now, that's if I asked for the ID. All right.

Now, if that happens, then I'm like, where's your wallet? They're like, and I can't tell you the amount of time someone's like, oh, I left it in the car. I'd be like, girl, go get it. I was like, your workout starts now, right? Now, I have found it to be kind of sketchy. I've done it before where I actually walk out with them. But you know, it's, you got to feel it if you have good rapport.

Like this is where you can be like, man, I'll work out with you. Let's go do it together. I've been sitting all day anyways. Let's go get it. Right. And so that way you can do that if you have the rapport. But the worst case is just be like, girl, go get it. Right?

I'm like, workout stars now. And you can make a little bit of a joke. And I can't tell you the amount of times where people are like, all right, I'll go and get it. Right. And or some people are like, I left my wallet in my car on purpose. so I wouldn't sign up for something, or whatever bullshit, right? And so just a couple little tricks that you can use to overcome the, I forgot my wallet, I left it at home, et cetera,

that you can use with your sales team today. So easy things, ask for the ID first, get them to take their wallet out, then swapulate their ID for the wallet, gesture towards the wallet, get their info down first, always shrug and say, just how we've always done it. And you'd be amazing, and people like, oh, that's how they've always done it. And that way it also makes it seem like it's not under your control. You're like, just, you don't want to say policy because that'd be stupid, right? Just be like, just how we've always done it.

And it means it shows precedence and social proof that other people have done the same thing.