Don’t Get Hustled
The other day, I told you about my experience selling electricity door to door. I learned a lot from that experience – a lot about how people operate and a lot about how hustlers operate. Here are some tips and rules of thumb that I picked up. They are applicable in any situation where someone approaches you unsolicited and tries to sell you something or sign you up for something. These are in no particular order.
- Do not buy/join on the spot. If someone approaches you about buying or joining something, ask them for a brochure and tell them you’ll read it over and make a decision later. If they tell you that they don’t have any literature and they try to push you to make a decision on the spot, that’s usually because they are worried that if you take time to think about it, you will refuse what they are offering. That’s a sure sign that you should investigate what they’re offering further and take time to consider it. If it’s worth buying or signing up for, it will be just as worth it tomorrow as it is today, so do it on your own time.
- Be protective of information and answers. If someone is trying to sell you something, they should be the ones giving you information, not the other way around. Do not give them your name or any personal info unless you specifically want them to use that information to sign you up or contact you. If you do give them information, make sure they explicitly tell you what they are going to do with that info. Do not give or show them bills or any other documents just because they asked.
- Control your eyes. Do not give the salesman control of your eyes and attention. If he’s showing you something, look at the whole paper, not just the part he points to. If he tries to move on, ask him to give you some time to look at what’s in front of you. The idea is that if he is pointing at something, you need to figure what he is pointing away from.
- Understand the implications. Understand the implications of signing/buying. Thoroughly question the salesman and read whatever documentation is available. You don’t want to sign up for a lower rate only to find out that you unknowingly changed electric companies.
- Don’t let things slip by. If the salesman quickly mentions an extra cost, condition or disadvantage, don’t let it slip by. Stop him and ask about it. Remember that this changes things. What seemed like a great deal, might be a rip-off now that the extra cost is part of the picture. Any new information of this sort should make you completely reevaluate the proposal.
- Understand the objective. An understanding of what the salesman’s role is can really help you maintain perspective of the situation. The salesman is trying to earn a commision. He is not worried about your best interests. He is not trying to show you his product’s bad side. It is up to you to watch out for your interests and uncover the disadvantages. Those should be your primary obectives. He’ll be sure to let you know all the good things, so you should be playing devil’s advocate.
- Read what you are signing. I know you’re supposed to do that all the time, but no one does. For example when buying a new cell phone, most people don’t read the entire contract, terms, and conditions before you sign. It’s not always practical, but in many cases, you already know the major points and the finer points aren’t that important at the moment. I stress reading what you sign here because this is not the normal situation. You don’t know any of the points unless you really want to trust the word of some random guy who sees you a s apossible commission. Really read it. Pay close attention to any fees, costs, and especially to terms of withdrawal. If you change your mind later, how much is it going to cost you? Also, look out for anything vague like unspecified “variable rates.”
- Set the pace. If at any point you feel rushed to make a decision, or even worse, if you feel like you’re being moved along with no chance to make decisions, stop!
- Know the bottom line. In the end if you decide to buy/sign on the spot (which you shouldnt – see the first tip) you should be able to answer two questions in a simple and clear way. What am I gaining? What am I losing. If you can’t answer these questions, if you’re answers seem like they are missing something, or if your answers seem too good to be true, then you are not ready to buy/sign.
