Before we can get the Application Out, we need to Consult the Merchant (Business Pro).
You must establish that you are their Trusted Advisor through this process.
Remember, you’re the Funding Pro – act like it.
Rushing to get an App Out here is not going to cut it.
Once you’ve qualified this lead, and it is in fact a prospect (more on the difference between the two later), it’s time to Lead the Business Pro (merchant) to Wanting you to send them the Application.
For the BP (merchant) to Want an App, the BP (merchant) must want YOU to work up Funding Options for them. For the BP (merchant) to Want YOU to work up options for them, the BP (merchant) must Want to do business with YOU.
How do you get the BP (merchant) to want to work with YOU?
Really boils down to 2 Key Points:
-Ask Powerful Strategic Questions (listen twice as much as you speak)
-Make them feel like you HEAR and understand them, their business, and their Outcome.
A novice sales pro will go on and on about them, their company, their products, “we’re the best,” etc.
A Funding Pro, the Trusted Advisor can use this information when it is appropriate, but doesn’t need to blitz the Prospect with all of it at the beginning of the relationship to convince the Prospect to do business with him/her. It’s a shift from me-centric to customer-centric. Focus on them!
The Funding Pro exemplifies the Quality of his/her service at the outset primarily through Powerful Strategic Questions and making the Prospect feel like they are heard, understood, and YOU will help them Achieve their Outcome.
Prospects don’t want to speak with you for fun.
Prospects don’t want to speak with you for money (WAIT, WHAAAT???)
Prospects Want to speak with YOU because they have an Outcome, they have a Goal they want to achieve, they have a challenge they want to overcome, they have a problem they want to SOLVE. They Want to speak to YOU because they want to know if YOU are the person who can help them Achieve that Outcome, overcome that challenge, Solve that problem in the most efficient way possible.
The Funding is the vehicle, their Outcome/Project/Problem’s Solution is the true Destination.
You do these 2 things well, and the Prospect will feel that you have their best interest in mind, and that YOU are the Funding Pro that can help them Achieve their Outcome.
Your Powerful Strategic Questions really boil down to asking about their Outcome/Project/Use of Funds, the kind of impact they perceive it will have on the business as a whole, and their timeline. Asking about their current/past financing products is important as well, to gauge their expectations, and to let them know what Funding Options you can provide may be a fit for them.
Making them feel heard is about listening intently, and when they are done answering your questions, repeat back to them a short-hand of what they said they wanted. Ask if you heard them right. Now they’ve heard themselves say it, they’ve heard you mirror it back to them –> they are now ready for you to go do your magic!
You’ve built rapport at a deep level, you’ve communicated effectively, they are now ready to be lead to the App Out.
You’ve got this, keep Driving!