FundingStrat™

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

 

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.

Keep on Reading!

 

“You want what?  Are you crazy?!!”

 

We’ve all thought it or said it out loud at one point or another.  Maybe mute was on, maybe you said it to the merchant directly.

 

Occasionally (all the time), ridiculous requests are made by merchants on funding terms and features.

 

“I want 25 basis points below prime.”

 

“I want a 50 year term.”

 

“I want to get the funding, but start the payments after 15 months.”

Keep on Reading!

 

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.

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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?

Keep on Reading!

 

“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?

Keep on Reading!