The Master Sales Strategies for Business Funding Pros
What does it sound like?
“I already got my PPP (EIDL) funding.”
Where does it typically show up?
Prospecting Call: making contact with a lead for the first time.
What do we do with it?
Turn around. Key Objective: to turn around the objection, engage the lead further, and continue to guide the lead through the sales process to ultimately close and fund!
How do we turn it around?
“That’s great, congratulations. What other projects are you working on this quarter?”
Why do we say it?
The late Dr. Stephen Covey synthesized the common patterns in the leaders he studied and worked with in his 1989 best-seller, 7 Habits of Highly Effective People.
At the core of his message is the belief that the way we see the world is entirely based on our own perceptions. In order to change any given situation, we must change ourselves. And, in order to change ourselves, we must be able to change our perceptions.
Put simply, in the context of this crisis:
In order to change/improve the state of things during this crisis, we must change/improve ourselves first.
In order to change/improve ourselves, we must change/improve our perceptions.
“The way we see the problem is the problem.”
-Covey
To undergo a paradigm shift and upgrade ourselves fundamentally, we must go beyond the surface level and alter our behavior for the long-term.
This is where the habits (7) come in:
Quick Hits:
What is a Compelling Event?
A Sales Compelling Event is a customer’s business pain that needs to be solved/opportunity that must be captured by a certain date, or else.
In other words, a compelling event has an economic owner, a defined date and is a direct response to a business pressure. The action to deliver a significant business result, either to capture opportunity or to reduce pain. The event itself defines the reason for the economic owner to act now.
Why are Compelling Events important?
Merchants have many compelling events (business pressures and opportunities) that are routinely spread across every calendar year. Some are variable (showing up almost unexpectedly) and some are fixed (consistently and predictably occurring at various date-points).
Compelling events trigger buying decisions – drive funding decisions.
Knowing your way through the compelling events that are driving the funding decisions on the specific deal you are working on, as well as those that affect all of your prospects and customers routinely, allows you to consult them that much more effectively as their Trusted Advisor.
This in turn drives your efficiency on shortening sales cycles and helping more customers get funded.
Tax Extension Deadline
Recap:
On our Sales Process map, if each Stage is a mile marker on the highway to Funding, the roadways in between the markers are the Phases.
Here are all the Phases:
Each one of these Phases has specific steps to complete to get to the next Stage, and there are Key Steps to take in each Stage to accelerate your sales cycles and closings.
This is what it looks like when we put it all together:
How do I know for sure I am at this Stage?
Next: Phase 1 – The Prospecting Phase
How do I know for sure I am at this Stage?
Next: Phase 2 – The Consulting Phase
How do I know for sure I am at this Stage?
Next: Phase 3 – The Application Sending Phase
How do I know for sure I am at this Stage?
Next: Phase 4 – The Application Reeling-in Phase
How do I know for sure I am at this Stage?
Next: Phase 5 – The Submitting Phase
How do I know for sure I am at this Stage?
Next: Phase 6 – The Closing Phase
How do I know for sure I am at this Stage?
Next: Phase 7 – The Contracting Phase
How do I know for sure I am at this Stage?
Next: Phase 8 – The Contract Reeling-in Phase
How do I know for sure I am at this Stage?
Next: Phase 9 – The Closing Stip Reeling-in Phase
How do I know for sure I am at this Stage?
Next: Phase 10 – The Funding Phase
How do I know for sure I am at this Stage?
*Phase 6 – The Closing Phase*
What is a Compelling Event?
A Sales Compelling Event is a customer’s business pain that needs to be solved/opportunity that must be captured by a certain date, or else.
In other words, a compelling event has an economic owner, a defined date and is a direct response to a business pressure. The action to deliver a significant business result, either to capture opportunity or to reduce pain. The event itself defines the reason for the economic owner to act now.
Why are Compelling Events important?
Merchants have many compelling events (business pressures and opportunities) that are routinely spread across every calendar year. Some are variable (showing up almost unexpectedly) and some are fixed (consistently and predictably occurring at various date-points).
Compelling events trigger buying decisions – drive funding decisions.
Knowing your way through the compelling events that are driving the funding decisions on the specific deal you are working on, as well as those that affect all of your prospects and customers routinely, allows you to consult them that much more effectively as their Trusted Advisor.
This in turn drives your efficiency on shortening sales cycles and helping more customers get funded.
Fiscal Year-End