The tragic life of a dishonest TV salesman

Published: Wed, 05/08/24

Updated: Sun, 05/12/24

May 8, 2024

TOGETHER WITH

Welcome back to The Quota, the sales newsletter that (just like your quota) keeps coming, week after week, year after year, until the Sun explodes, destroying the galaxy forever. In this week’s issue, we’ll tell you the tragic story of Don Lapre, share a Sales Fail about an angry phone call, and give some advice to a rep who thinks they’re overpaid. Let’s go!

NUMBER OF THE WEEK

Only 11% of sales professionals feel very confident on customer calls,

with 70% citing objection handling as their top challenge

Source: Salesroom

SALES ROUNDUP

Here’s what’s happening in the sales world this week:

The top salesman of a family-owned business in Texas embezzled at least $1.5 million as part of a yearslong scheme, according to federal authorities. From about 2018 through spring 2021, the Missouri City man stole from a North Houston trucking company by submitting fake and fraudulent invoices. The 35-year-old has been sentenced to a year and nine months in prison. You can read more about the scheme here.
Google is slashing more jobs in its ad sales unit, announcing that “several hundred” employees from the advertising sales team would be let go. Philipp Schindler, Google’s chief business officer, reportedly told staffers the shakeup was part of a restructuring effort that will affect the unit that sells ads to large businesses. Days earlier, Google announced it would slash at least 1,000 jobs. You can read the full story here.

FEATURE

Don Lapre, Image Source: Cnet

The Story of Don Lapre: Infamous Salesman, Pitchman and Con Artist

In the world of sales and entrepreneurial dreams, few names were as synonymous with success as Don Lapre. With his infectious energy and promises of financial freedom, Lapre captured the attention of aspiring business people across the nation. But behind the facade of prosperity was a story of ambition, deception, and ultimately, tragedy.

Lapre's journey from a humble upbringing to becoming the "King of Infomercials" seemed like the ultimate rags-to-riches story. Born in Rhode Island, Lapre relocated to Phoenix, Arizona with his family during childhood. In 1988, he embarked on his entrepreneurial path by founding a credit repair business with his wife, Sally Redondo, called Unknown Concepts.

His breakthrough, however, came in 1992, with the introduction of his infamous infomercials. His show "The Making Money Show with Don Lapre," became a staple of cable television, inspiring many to pursue their entrepreneurial dreams. He touted his "Money Making Secrets", a series of booklets, tapes, and tips that he sold as a playbook to financial success. He claimed to have generated $50,000 a week from his one-bedroom apartment by placing “tiny classified ads” in newspapers, and you could too by purchasing his Money Making Secrets package. His charismatic pitch resonated with countless individuals eager to achieve financial independence, and Lapre grew wealthy.

Despite the success of his informational products, his next venture, "The Greatest Vitamin in the World," drew scrutiny from The Federal Drug Administration (FDA). In true snake oil salesman fashion, Lapre used his signature over-the-top energy and the trust he’d built with television audiences to promote unsubstantiated health claims associated with his vitamin supplements, like their supposed ability to cure diabetes and cancer. The FDA issued him formal warnings about his claims in both 2005 and 2006.

Lapre pivoted back to his old ways, and started selling informational products again. This time he sold a 60-day course for $295 that promised to teach anyone how to reach financial freedom through direct marketing on the internet. The course was essentially a multi-level marketing scheme. It sold quickly, but it didn’t last long. In 2011, Lapre faced a grand jury indictment on charges of conspiracy, mail fraud, wire fraud, and promotional money laundering. His alleged scam totalled over $50 million defrauded from hundreds of thousands of individuals.

As Lapre's legal troubles mounted, so did the weight of his personal struggles. While awaiting trial in Arizona, he committed suicide in his jail cell. It was a tragic end to a life that had once seemed brimming with promise and opportunity.

Lapre's story underscores the dangers of unchecked ambition and the perils of chasing success at any cost. Despite his outward bravado and confidence, Lapre grappled with inner turmoil and despair, which ultimately led to his demise.

So the next time you’re getting pitched a course that promises you the world from one of those overly energetic influencers on the internet, remember Don Lapre. Often, the loudest voices in the room have the least to offer.

CAN MY SALES TEAM IMPROVE ITS FORECASTING ACCURACY?

Are your pipeline forecasts accurate?

Objective Management Group analyzed 55 organizations and over 1,000 individual sellers to find out. Unsurprisingly, the data revealed two main problems with organizations’ sales pipelines:

More than half of salespeople are not meeting the minimum threshold for pipeline quantity.
Only 4% of companies have more than 80% of their sales team hitting the minimum threshold for pipeline quantity

Fear not. Based on their findings, the Objective Management Group identified 5 actionable steps you can take today to get your pipeline back on track in this free guide.

Download the FREE guide now.

Download for free!

MEME OF THE WEEK

Source: Instagram -- Sales Humor

QUIZ

Which sales tech company is rumored to be in talks to be acquired by Google?

A. HubSpot
B. Monday.com
C. Salesforce
D. ZoomInfo

SALES FAILS

Each week, we bring you the most cringe-worthy sales moments from across the web. To submit your sales fail story for consideration, click here. (Don't worry, you'll remain completely anonymous).

My best sales story is the time I went to a prospect’s office to give a sales presentation. The prospect was actually a sales manager himself, and we were looking to sell him some industry-specific software which he would use for his team, then, if they liked it, roll it out to the whole company.

I showed up early and they put me in a conference room while the manager and another employee got ready. While I was waiting in the conference room with the door open, the manager who I was supposed to meet with came into the office directly across the hall while on his cell phone.

He closed the door behind him, but he started screaming so loud that I could hear everything he was saying. He was screaming at someone from his condo association (or homeowner association), telling them that there was no way he was going to pay something because he had already paid for it once. He was screaming at the top of his lungs and swearing. He told them to go ahead and sue him, because he would spend “literally every penny I have” defending himself in court.

This went on for close to half an hour. When he finally got off the phone, he walked past my conference room without even noticing me. A few minutes later, his coworker came in and I gave him my presentation without the manager present. Apparently he was too upset to meet with anyone. Long story short, the deal did not close. I wonder if he ever went to court over that call.

Anonymous Location withheld

GRAPH OF THE WEEK

Source: LinkedIn Poll -- May 2024

WORTH A PEEK

Do you negotiate your salary when considering a job offer? Did you even know you could? RepVue put together a nice article on how to negotiate a sales salary, with a step-by-step guide and some additional tips. Check it out here.

ASK THE QUOTA

Want to submit a question and be featured in our advice column? Click here. (Don't worry, you'll remain completely anonymous).

Dear Quota Team

I'm an AE for a healthcare company, and I think I earn too much for what I actually do. I make the bare minimum amount of calls each day (20-25) but I'm always at or above quota. I 'actually' work for like 3 or 4 hours a day. I know I'm privileged, and I constantly feel like I'm undeserving of what I earn because I don't do what most other salespeople do. Do you think that's okay? And what's your advice?

Conflicted in Location withheld

Dear Conflicted,

If you polled 10,000 salespeople, nearly every single one would say they’d rather be in your position than the reverse: not making what they feel they deserve. Even the word “deserve” is a bit questionable. What does anybody actually deserve? Some people get sick, others stay healthy. Does either person actually deserve what happens to them?

Our advice is twofold. First, enjoy it while it lasts. Just because you’re coasting right now doesn’t mean things will always be that way. The one constant in the business world is change, and there’s no guarantee your company won’t change your comp plan, or will eventually become obsolete.

Second, what would happen if you worked harder? What if you put in 6-8 hours a day? Would you make twice as much? If so, then that’s exactly what you should do. Maximize your income while things are good, because when they’re not, you’re going to wish you had. And if you feel guilty about making too much money, then take whatever you don’t need and give it to charity. But sitting around feeling bad about making too much for doing too little is a waste of time. Business is business. Good luck!

Quiz Answer: A. HubSpot is rumored to be in talks to be acquired by Google (you can read the source article here)

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How did you like today's story?

Today's email was written by Ken Kupchik, Erica Furgiuele, Steve Rado, and Emily Hill.

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