Niraj Kapur is a sales trainer with over 25 years of experience. He has trained large corporations like Barclays and Sainsbury’s and over 300 SMEs on sales strategies, techniques, and selling with integrity.

In this episode of The Salesman Podcast, Niraj gives us multiple strategies to help deal with the “I don’t have the money” objection.

Resources:

EverybodyWorksInSales.com

Niraj on LinkedIn

Book: Everybody Works In Sales: Here’s What You Need To Know To Achieve Success In Your Career

Book: The Easy Guide To Sales For Business Owners

Transcript

Will Barron:

Coming up on today’s episode of The Salesman Podcast.

 

Niraj Kapur:

But a lot of people will say, “Oh, my budget’s limited,” at the very beginning. Now, if that’s the case, it means you simply haven’t provided enough value to that person. Or you haven’t asked the right questions and really found out what their concerns are. As salespeople, by nature, we want to talk. You want to talk as soon as possible. What I see the biggest mistakes I see people make on this level of the process is they’ll talk brief, maybe ask one or two questions and then rush into their product self. It’s I’m asking questions, then I’m recapping their answers so they know I’m listening to them because salespeople are terrible listeners. They know I’m listening. I’ll recap. Then I’ll start talking about the value of I offer. That’s a process most salespeople do not understand.

 

How to Respond to the “I Have a Limited Budget” Objection · [01:34] 

 

Will Barron:

Hello sales nation. My name is Will Barron and I’m the host of The Salesman Podcast, the world’s most downloaded B2B sales show. On today’s episode, we have Niraj Kapur. He is a bestselling sales author and sales consultant as well. You can find out more about Niraj over at everybodyworksinsales.com. On this episode, we’re getting into what you should do, what you should say, what your process should be when a buyer turns around to you and says, “Hey, well, I’m sorry. I’ve got limited budget.” Everything that we talk about in this episode is available in the show note over at salesman.org. With that said, let’s jump right into it. Okay. In today’s episode, we’re getting into what to do when a buyer turns around and says, “Hey, sorry, Will. Sorry, Niraj. I’ve got limited budget. No budget.” What we need to… How we essentially rebuttal that and what the underlying message that’s been shared of us is. To start the conversation, is a buyer saying, “Will, Niraj, I have limited budget” an excuse? Or is this a legitimate kind of objection that can be put in our path as a B2B salesperson?

 

“A lot of people will say, “Oh my budget’s limited,” at the very beginning. If that’s the case, it means you simply haven’t provided enough value to that person or you haven’t asked the right questions and really found out what their concerns are. If they mention it after say, a 20 to 25-minute meeting, either face to face or over Zoom, and all of a sudden budget is limited, then it means there’s a chance the budget is there, but maybe there’s something else you have uncovered.