Subscribe Today!

Your email:



Pawntique Online Pawn Shop Blog

Current Articles | RSS Feed RSS Feed

How to Overcome the Objection “I don’t have the money right now”


Sounds great! Get back to me in three months!Personal Asset loans to fund businesses

How many sales people have tried to close a sale- only to be told at the last minute, “I don't have the money right now.”  I’ll bet anyone who has been selling for any length of time has heard that or something similar. 

Overcoming objections is a big piece of a sales person’s job.  There are long lists of common objections for every industry.  And there should be long lists of answers to each one. Successful sales professionals should have a plan for addressing their prospects’’ concerns and leading them through a sales process that results in a closed sale. To start, follow the thirteen step process on how to overcome sale objection by Rick Roberge. 

If a prospect says that they are ready to buy, but the only thing holding them back is a lack of cash…help them find the cash!  

In big companies, this may involve working with your contacts to find “budget” for whatever type of product you are selling.  Big company operating plans are controlled by capital spending and expense budgets.  To add an item to either of these budgets can be very difficult in the short term unless your product is a direct substitute for something they are already buying or an immediate cost reduction item. 

In smaller companies, especially when you are selling to the owner, it’s much easier to move forward on good ideas at any time in the fiscal year.  But they may be telling you the truth that their current cash situation prevents them from making any incremental investments- not matter how good the return-on-investment may be. 

The sales person may have to make a more proactive role in getting the prospect to consider alternatives for funding your product.


There are many sources of short term cash to fund good investments.  Business credit cards are widely used.  In fact over 80% of all small businesses report using them.  If a business accepts credit card payments from its customers, merchant cash advances may be a source of short term cash.  For this type of loan, the lender analyzes the company’s credit card sales history and makes a projection of future credit card receipts.  Then they will advance cash to the company in anticipation that they will be paid back from future transactions.  The lender collects the credit card payments, keeps a portion and sends the balance on to the company.  The risk involved with this type of financing is that if sales do not happen as forecast, the borrower is still liable to repay the loan from other sources.

A relatively new alternative is personal asset loans

The most popular assets used for this purpose are jewelry, watches, and fine art that belong to the business owner. 

Dr. Sheila Johnson,MD runs a weight loss clinic that depends on word-of-mouth referrals from satisfied clients.  She recently wanted to launch an inbound marketing program to grow her business.  A local internet marketing agency has worked with her to develop a plan to drive traffic to a new website and convert them into paying clients.

The only thing holding her back was the funding. 


The clinic’s cash reserve was not big enough to maintain a comfortable operating account cushion plus fund the monthly retainer fees for the marketing agency.  Although Dr. Johnson was convinced that the ROI was attractive, she was unable find the cash to make the investment. The marketing agency put Dr. Johnson in touch with Pawntique to solve the problem.  We were able to use some fine art as collateral for a personal asset loan.  Because we were local, we met in person and picked up her valuable pieces.  However, our normal process is to receive information through our website and email that helps us determine the liquidation value of the assets, ship the items to us, and wire the money into our client’s account.

In this case, the consultant used a very creative selling solution to “find the money” to close the sale.  Although Dr. Johnson has just started the new marketing program, she is seeing a steady increase of website traffic and leads.  She expects that new business will follow and the loan can be paid back in three months.  It will be good to have her paintings come back home.


Post by Don Battis

Don Battis is the CEO of Pawntique.


Thanks for the mention, Don. I'd like to add one thought. Sometimes we do get objections and we have to learn how to handle them, but salespeople should realize that an objection may be an indication that there's a misalignment in their sales process and that if they align their sales process perfectly with their prospect's buying process, they will no longer get the objection and therefore they won't have to handle it after the fact.
Posted @ Monday, November 19, 2012 4:58 AM by Rick Roberge
Post Comment
Website (optional)

Allowed tags: <a> link, <b> bold, <i> italics