How I Raised Myself from Failure to Success in Selling Ch 17

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Questions and Answers

What did the competitor lose in addition to the sale?

The respect of his employees

A business partner

His own self-respect (correct)

A potential future customer

What experience did the narrator have several years prior?

Exaggerating the potential of his product (correct)

Winning a major contract by being honest

Taking over his competitor's business

Collaborating with his friend to win a bid

What lesson did the narrator learn from his past experience?

It's better to be entitled than to exaggerate. (correct)

Misrepresentation can lead to success.

Always trust your competitors.

Honesty is not always the best policy.

According to the narrator, how did the competitor's lie impact their future business opportunities?

It caused a permanent loss of trust. Signup and view all the answers

What was the response of the narrator upon realizing the error in his previous approach?

He thought about it all night and felt humiliated. Signup and view all the answers

What did Karl Collings' philosophy represent for the narrator?

A belief in the value of entitlement and honesty. Signup and view all the answers

What was the ultimate outcome of the narrator's earlier misrepresentation?

He faced humiliation and a loss of trust. Signup and view all the answers

What was the primary reason given by Mr. Emlen for not proceeding with Frank Bettger's proposal?

The other broker's cost was lower. Signup and view all the answers

How did Frank Bettger react when he reviewed the proposal from the other broker?

He suspected exaggeration and misrepresentation. Signup and view all the answers

What action did Frank Bettger take after suspecting misrepresentation in the proposal?

He contacted the local manager for verification. Signup and view all the answers

According to the conversation with the local manager, what limitation did the company place on estimating future dividends?

The law prohibits estimates of future dividends. Signup and view all the answers

What specific information did Frank ask the local manager to provide during the call?

The first dividend and the twenty-year dividend scale. Signup and view all the answers

How did Mr. Emlen respond when Frank Bettger requested the same privilege as given to the other broker?

He called for a discussion among his associates. Signup and view all the answers

What did Frank Bettger identify as Mr. Emlen's age during the call to the local manager?

Forty-six. Signup and view all the answers

What was Frank Bettger's main tactic during the conversation with the local manager?

To confirm the proposal was accurate. Signup and view all the answers

Study Notes

Interview & Business Deal

Interviewer (Emlen) informed candidate (Bettger) the business was awarded to another broker with a lower cost.
Bettger questioned why and was told the other broker presented the same proposal but at a lower cost.
Bettger questioned if the other broker saw his proposal.
Emlen's response suggested a possible misrepresentation of the other broker's proposal.

Critical Thinking & Verification

Bettger requested the opportunity to speak with the source of the competing broker's figures.
Bettger confirmed the figures presented by the other broker were inaccurate.
Bettger's verification proved the accuracy of own proposal (and the inaccurate nature of the competitor's).
The company's proposal had a misleadingly high estimate of dividends.
The other broker lost the business due to providing inaccurate information.

Lessons Learned & Personal Experiences

Bettger experienced a similar situation where he lost the business due to exaggeration.
The experience reinforced the importance of honesty and ethical conduct in business.
Bettger learned the value of accurately presenting facts and avoiding misrepresentation.
Bettger's key takeaway was a rejection of "I'll know it" (exaggeration) in favor of ethical conduct.

Negative Consequences of Dishonesty

Loss of the business deal
Loss of the competitor's respect.
Loss of one's own self-respect
Potential loss of beneficial relationships (such as with a friend).

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Description

Explore the critical thinking and verification process involved in business negotiations. This quiz delves into a situation where accurate proposals and ethical considerations play a vital role in securing business deals. Learn from the experiences that highlight the importance of thorough verification and clarity in communications.