Glossary

David Mamet, the American playwright and author, is fantastic at writing dialogue for characters in his books, plays, and movies. The characters are speaking English, but they seem to bend the language to their will.

This is also true in sales.

While I fall far short of Mamet's literary brilliance, I have “bent” a word or two in the 60 Second Sale system. For that reason, I have included a glossary here. If you want to know what these words and phrases mean in real life, use a dictionary. When you're working with me, I want us to speak the same language.

ACTIONTM advertising
This is an acronym that stands for:
  • Attract attention.
  • Captivate the audience.
  • Tempt the audience to make a decision.
  • Inform the audience what will happen if they don't act now.
  • Offer them something.
  • Nurture them after they've taken action.
Ad hoc income
This is transactional revenue. Sell and move on.
Belly‐to‐belly
One‐on‐one sales, face‐to‐face.
Business meeting
This is when you get together with a prospective client and discuss their needs, problems, and goals. This is also where you share your ideas for helping the client. The goal of a business meeting is to come to an agreement on an exchange of value. It's where you have the closing conversation.
Charitable organizations
These groups exist to fulfill a mission. The focus is to raise funds and help a specific group or cause.
Civic groups
These are organizations designed to help the community. Their primary purpose is to enrich the geographic area they serve.
Clarity of purpose
When you know exactly why you are doing something. You have the outcome in mind the entire time. For example: When you give a speech, your clarity of purpose is to get the contact information from everyone in the room so you can send them a honeypot.
Client trade associations
Groups of people, some of whom are your clients, who work in the same profession.
Client vs. customer
A client is someone who buys from an individual. A customer is someone who buys from a business. Calling someone a client indicates a relationship and calling someone a customer is indicative of a transactional approach. In our work together, you and I focus on relationships. That's why we have clients.
CRM
Acronym for client relationship management system. This is software to help you manage your contact database.
Database
This is your list of contacts and all the information and notes it contains about each of your relationships.
Dumb money ad
An advertisement run for product‐recognition purposes.
Educational groups
These are organizations designed for individual intellectual enrichment and continuing personal growth.
Evangelist
Someone who refers business to you even though he or she has never used your product or service.
Exchange of value
You agree to help a client solve a problem or achieve a goal in return for financial compensation. This could mean selling the client a product or service for a fee, or it could also mean providing a unique experience in return for financial compensation.
External orientation
Placing the benefit of others as the primary objective in your interaction.
FOMO
An acronym that stands for fear of missing out. Motivating factor used to get people to take action.
Frat boy approach
Asking people to do business with you having never met them or even had a conversation with them.
General business groups
These are community‐based business organizations and chambers of commerce.
Ground rules
The rules under which you and the prospect will have a business meeting. The phrase comes from baseball. Each park where teams play is different and has special nuances. When a new team comes into town, the umpire reviews the ground rules with both teams. He does this so things are transparent and fair. The ground rules in the business meeting exist for the same reason.
Hit‐and‐run sales
This is old‐school selling. You cold call, stick your foot in the door, sell the product or service any way you can, and then move on without regard for relationships.
Honeypot
This is an engagement device you use to attract the interest of suspects and convert them into prospects. Free reports make excellent honeypots because they can be tailored to the specific audience and delivery system.
IRT 21
Ideal Relationship Targeting 21. The 21 questions you can use to uncover how to target your ideal client, develop the appropriate message for them, and select the correct delivery systems to use to reach them.
MAD
Three‐letter acronym to help in developing relationships: Message, Audience, Delivery system.
Natural network
Everyone you know. The people you come into contact with as you go about your daily life. People you've met in the various roles you've held in your career.
Old‐school sales
Cold calling, product/service focused sales. Pitching vs. listening.
Orientation packet
This is a folder full or information designed to help prepare your client for a meeting with you. It contains five things: a cover letter, bio, your honeypot, reprints of articles you've written, and an agenda for the meeting with you.
Primary internet presence
A website with great content to help people get to know you. Everyone needs one. Even if your company has a website, you must have your own personal website.
Prospect
(short for prospective client) Someone who has reached out in some way and shown an interest in you, your business, and the value you provide.
RaporMax® System
This is your primary sales operating system. Everyone you've ever met and everyone you will meet is immediately entered into it. You start it up with people in your natural network and it grows over time. This system is the key to closing deals, deepening relationships, and skyrocketing lifetime value.
Recurring income
This is revenue from the same activity done over and over again.
Relationship income
Unsolicited, passive income from people in your network.
Relationship Report Card™ score
A leading indicator of the strength of a relationship between you and a client. A higher score is indicative of a stronger relationship.
Repeat income
This is revenue developed from contact you initiate. The revenue is generated from sale of a product or service the client has not previously purchased from you.
Structured networking groups
Business groups with a process for generating and passing referrals among members.
Suspect
A person you believe has the qualities of your best clients.
Testimonial
An endorsement of your work by someone who has no financial interest in your success.