Terry Kim, Founder and CEO of NGT Academy, is a prime example of how resilience and the mastery of sales can transform a career and a life. At the age of 36, Terry Kim faced one of the most devastating setbacks any entrepreneur can experience: the loss of his entire life savings after his first startup failed. With just $11 left in his bank account, many might have given up. However, Terry Kim’s journey didn’t end there. By 45, he had discovered the art of selling, closing $25 million in high-ticket deals and turning his passion for IT training into a thriving business.
Terry Kim’s story is more than one of financial recovery; it’s a testament to the power of persistence, adaptability, and the ability to learn from failure. His evolution from a struggling entrepreneur to a highly successful CEO didn’t just happen overnight. It was rooted in a profound understanding that sales skills are the cornerstone of any business’s success. “If you don’t know how to sell, you’ll never be rich,” says Terry Kim, distilling the hard-earned wisdom from his years of experience.
In a candid reflection on LinkedIn, Terry Kim shared his formula for success, offering 10 powerful questions that transformed his sales approach and helped him close millions of dollars in deals. These questions provide a roadmap for anyone looking to master the art of selling. But, as Terry Kim emphasizes, the key isn’t just in asking the right questions—it’s in listening intently to the answers.
The first question Terry Kim poses is simple but profound: “Why?” This question digs deep into the motivations of a prospect. According to Terry Kim, stories win over hard selling. Understanding why a customer needs a solution helps build an emotional connection that goes beyond logic. Terry Kim applied this approach at NGT Academy by asking, “Why did you start your journey into IT?” and “Why is investing in training crucial for your future?” By uncovering the why behind his students’ needs, Terry Kim could craft a narrative that resonated on a personal level, making his pitch far more compelling.
Another essential question Terry Kim asks is, “What’s keeping you up at night?” This question uncovers the deepest fears and challenges of a prospect. In the world of IT training, where Terry Kim’s NGT Academy thrives, this often involves the fear of falling behind in a rapidly changing industry. By understanding this fear, Terry Kim can position NGT Academy as the solution that helps students stay competitive and relevant, easing their anxieties about the future.
Terry Kim’s third question—”What have you tried before?”—shows genuine interest in the journey of the prospect. It also helps avoid pitching solutions that have already been tested and failed. For NGT Academy, this question is invaluable. Many students come to the academy after trying other methods of IT training that didn’t work for them. By understanding these past efforts, Terry Kim ensures that NGT Academy offers a unique, effective solution that meets the specific needs of each student.
Success, as Terry Kim highlights, is not just about closing a sale—it’s about helping the customer achieve their desired future state. The question, “What would success look like for you?” helps paint a picture of that future. For NGT Academy students, success often means landing a high-paying IT job in a matter of months rather than years. By focusing on this vision of success, Terry Kim is able to align his offerings with the goals of his students, ensuring that NGT Academy provides the tools and training needed to make that vision a reality.
Urgency plays a key role in the sales process, and Terry Kim knows how to create it without being pushy. His questions, “What happens if you do nothing?” and “What’s the cost of waiting?” are designed to show the consequences of inaction. In the fast-paced world of IT, waiting can mean missing out on lucrative job opportunities. By framing the decision to enroll at NGT Academy as a time-sensitive choice, Terry Kim motivates prospective students to take action before it’s too late.
A crucial aspect of any sales process is understanding who makes the final decision. Terry Kim’s question, “Who else needs to be involved in this decision?” reveals the true decision-makers and helps prevent the common objection of “I need to check with someone else.” This direct approach saves time and ensures that all stakeholders are engaged early in the conversation, increasing the likelihood of a successful close.
Terry Kim also emphasizes the importance of asking the prospect what they need to see in order to move forward. His question, “What would you need to see from us to move forward?” not only defines the next steps but also brings to the surface any final objections. By addressing these concerns directly, Terry Kim eliminates potential roadblocks and guides the conversation towards a successful close.
The final question in Terry Kim’s arsenal—”How can we make this a no-brainer for you?”—demonstrates his commitment to creating a win-win situation for both sides. For Terry Kim, selling is not about pressuring a prospect into making a decision. It’s about finding a solution that makes the decision easy, clear, and beneficial for the customer. This question shows a genuine desire to serve, which in turn builds trust and reinforces the relationship between NGT Academy and its students.
Terry Kim’s approach to sales, honed through years of experience and failure, has not only helped him close millions of dollars in deals but also build a successful, purpose-driven company. NGT Academy now stands as a beacon of hope for aspiring IT professionals, providing them with the training and resources they need to succeed in a competitive market. Terry Kim’s story serves as a powerful reminder that failure is not the end—it’s simply the beginning of a new chapter in the journey toward success. Through resilience, a commitment to learning, and a mastery of sales, Terry Kim has turned his setbacks into stepping stones for a brighter future.
