FundingStrat

 

This is a great article by Todd Stone at deBanked.  In it, he describes trying his hand at his very first cold call.

 

Todd is very good at what he does, journalism, which has many overlaps with sales.  He demonstrates great effort on this first call, and makes it very clear in the article that this was an amateur attempt.  There is no doubt that with more practice he can become a Funding Pro.

 

We’re going to hone in on a few points of the call and highlight and optimize them for the benefit of everyone.

Keep on Reading!

 

When to use it?

 

After describing the terms of the two different Approvals you have for the merchant, you have used the Alternative Close, and now the merchant is having a challenging time deciding which option to move forward with.

 

What does it sound like?

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“How do I sell?”

 

“How do I sell more?”

 

“How do I sell more often?”

 

These are questions the routinely play out in the minds of reps on a daily basis.  Quality questions get us to quality answers.

 

Oftentimes we can get to the answers we really want by taking another angle, and asking a better question.  The answers to the questions above can be more effectively arrived at by asking why merchants buy.

 

 Why do merchants buy?

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What does it sound like?

 

“We are happy with who we’re with now.”

 

Where does it typically tend to show up?

 

Prospecting Call, making contact with a lead for the first time.

 

What do we do with it?

Keep on Reading!

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:

 

• Phase 1 – The Prospecting Phase

 

• Phase 2 – The Consulting Phase

 

• Phase 3 – The Application Sending Phase

 

• Phase 4 – The Application Reeling-in Phase

 

• Phase 5 – The Submitting Phase

 

• Phase 6 – The Closing Phase

 

• Phase 7 – The Contracting Phase

 

• Phase 8 – The Contract Reeling-in Phase

 

• Phase 9 – The Closing Stip Reeling-in Phase

 

• Phase 10 – The Funding Phase

 

Keep on Reading!