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 drive 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.
This is a relatively fixed grouping of compelling events that happen like clockwork every year.
Tax liabilities are one of the top compelling buying reasons for funding.
Like farmers keeping track of the sun and the moon in the sky for their harvests, Funding Pros keep important tax dates top of focus to better execute the best timing for followups, engage effective talk-tracks and get deals across the finish line.
Here are some important tax date facts:
Many of our merchants must pay their estimated taxes quarterly throughout the year.
Here are the usual estimated tax payments dates:
- 1st Quarterly Estimated Tax Payment – April 15th
- 2nd Quarterly Estimated Tax Payment – June 15th
- 3rd Quarterly Estimated Tax Payment – September 15th
- 4th Quarterly Estimated Tax Payment – January 15th
Then the usual income tax filing date is April 15th, unless you file an extension.
The extension filing date is October 15th.
Due to Covid’s impact on 2020 so far, this is what you need to know for this year:
Taxpayers had until July 15th, 2020 to file 2019 income tax returns and make income tax payments that otherwise would have been due on April 15th, 2020.
Taxpayers had until July 15th, 2020 to make estimated income tax payments for 2020 that otherwise would have been due on April 15th, 2020.
An individual taxpayer who properly estimated their 2019 tax liability and filed an extension by July 15th, 2020 has until October 15th, 2020 to file their 2019 income tax return.
To avoid the imposition of interest and penalties, an individual taxpayer filing their tax return after July 15th (on extension) must pay their properly estimated 2019 tax liability with their extension request.
The estimated tax payment dates this year are as follows:
- 1st Quarterly Estimated Tax Payment – July 15, 2020 (Was April 15, 2020)
- 2nd Quarterly Estimated Tax Payment – July 15, 2020 (Was June 15, 2020)
- 3rd Quarterly Estimated Tax Payment – September 15, 2020
- 4th Quarterly Estimated Tax Payment – January 15, 2021
How will these dates improve your game?