The Psychology of Selling is a book about the psychology of sales. The book argues that the key to successful selling is understanding the buyer’s psychology. Tracy identifies five key psychological principles that all salespeople should understand:

• The need to feel important: People want to feel important, so salespeople should make the buyer feel important.
• The fear of loss: People are more motivated by the fear of loss than the hope of gain, so salespeople should focus on the buyer’s fear of loss.
• The power of suggestion: People are easily influenced by suggestions, so salespeople should use suggestions to their advantage.
• The need for certainty: People want to feel sure about their decisions, so salespeople should give the buyer certainty.
• The power of reciprocity: People are more likely to do something for you if you have done something for them, so salespeople should find ways to give to the buyer before they ask for anything in return.

Here are some of the key takeaways from the book:

• Understand the psychology of the buyer.
• Focus on the buyer’s fear of loss.
• Use suggestions to your advantage.
• Provide the buyer with certainty.
• Find ways to give to the buyer before you ask for anything in return.