For those of us who work in private enterprise, we noted with interest how quickly and effectively Henry “Hank” Paulsen sold Congress on the bailout plan of $700 billion. Notwithstanding how it turns out, his sales job was remarkable and I thought you would like it broken down.

He stuck to the basics of sales.

1. There was a problem. Most of the public and 73% of Congress weren’t even aware a problem existed before Secretary Paulsen brought to our attention.

2. He made it important. By asking and answering a series of questions, mostly about what could potentially happen if credit markets froze up and so forth, he made the problems seem awfully important. But did you notice he kept it all conceptual and did not give too many details. Just remember that few can challenge a concept, it is when details emerge that buyers (Congress) get tougher.

3. He made it urgent. Without this key step, Congress would have delayed action. But Paulsen knows salesmanship–he closed the deal.

That’s it.

Another example–let’s suppose you have four bald tires on your car and you only use your car to go get groceries. You have a problem. Only by asking current situation type questions can the sales rep make it both important and urgent. So the questions are not like…”how do you feel about having four bald tires?” The questions are better and more specific. The questions must make the owner uncomfortable with his current situation. “Are you planning any long trips in that car, with the kids?”

The point is…just because there is a problem, a sale will not be made until it can be demonstrated it is both important AND urgent.