What does it sound like?
“I’m not doing anything right now, I haven’t reopened yet.”
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?
“Got it, what date do you anticipate reopening?”
Why do we say it?
There is a very good possibility that many of the merchants you prospect at this time are still closed due to the pandemic and its associated shutdowns.
Unfortunately, some of these businesses will not reopen.
For the ones that will, but have not reopened yet, we must keep the conversation going effectively just a little longer. Identify when the merchant is targeting reopening operations so you can follow up then and gauge the continued prospect-ability of timing.
Don’t be short-sighted here and just move on to the next call just because you can’t fund now. This may be a valuable addition to your prospect pipeline, possibly within the next 30-90 days.
The merchant may be targeting reopening next week – you won’t know unless you continue the conversation and ask. Because small business owners are so busy getting everything ready to resume operations, they may have the strong urge to get you off the phone immediately because there are more pressing matters they’re in the middle of.
That’s okay, the priority is for them to get the business off the sidelines and back in operation – but you quickly need to set a follow up call with them before the call ends.
If the merchant was forced to shutdown due to the pandemic and government mandates, and had little to no revenue over the last several months, they’re most likely not going to be the most eligible candidates for funding until at least a couple months of getting back on their feet.
Nonetheless, scheduled follow-up calls are key here to continue checking in, gauge the direction of the business and the timing of when you are best going to be of assistance.
Playing the long game with all of these prospects may not pay off immediately, but will in the near-future, as the American small business engine starts to kick back on into the second half of this year.
Once many of these merchants get through all of the pressing items on their agenda to get their businesses back into operation and into full swing, they will have the bandwidth and the need for their Funding Pro – their Trusted Advisor that has efficiently and professionally stayed in front of them all along the way.
Always Be Building Pipeline!