Last Friday, I was asked this very question and how would I handle that response.
Simple, I don’t believe it at all!
Your new prospect may not buy from you, but there are other reasons and saying “I don’t have the money is just a nice way to tell you no.”

So you may imagine that many didn’t agree with me so I proved it to them.

1.    Did you listen to the prospect for their wants?
       a.    Most people just keep taking about everything they do, they just lost the sale.

2.    Did you present benefits only based on their wants?
       a.    How their new product works, and what is cool about does not address the wants as to why a client will purchase, so if you use a flip chart, edit what you will say.

3.    Did you tell them the price broken down by months as an investment?
       a.    By breaking down the price as an investment over many months, demonstrates a realistic monthly price of commitment.

4.    Did you ask them how they wanted to pay for their purchase today?
       a.    Check, Credit Card, Cash

This is just the basics to a sale and as I observe people, they fail terribly at the basics. However the basics can be fixed with training.

Let’s go to the advance stuff that is really interesting.

Wrap your mind around this:

You show value, but value is only demonstrated and proven when they buy from you.

Yes I know, you are valuable, I’m a human being. How dare you say I’m worthless? I get all these responses. When this comes to profit the above statement is true, so get over it.
This is a difference of feeling that you are right vs. knowing that you are right. I speak to hundreds of people a month about my coaching program, and only the superstars connect with what I say and hire me to resolve some of their issues. Yes that’s right, my clients are my superstars.

They prove my value every time they hire me; hence I know I’m valuable because of my clients.

This is a big step; drawing the line in the sand and having your clients prove your value.
Still not convinced? Think of someone successful in your field, now why do they have all the paying clients?
The money is out there, its your approach and value proposition that is the problem.

There are 3 reasons when I don't close a sale.
1. Client doesn't want to change
2. I failed at demonstrating the value
3. I didn't clearly hear the wants

Michael Hofmann
Stand Out In Your Business