Sun Tzu say, “The supreme art of war is to subdue the enemy without fighting.”
Translation: Fund Szu say, “The supreme art of selling is to close and fund the merchant without arguing.”
Merchants are small business owners. Small business owners are a passionate bunch.
That passion comes across in their communication style all the time.
To be their Trusted Advisor, we must acknowledge this and anticipate it.
Every communication contains information and emotion.
Being adept at recognizing what is not only being said but how it is being said is the key to closing without sliding into an adversarial position.
Often objections come wrapped in what feels like anger, intensity, passion, heat.
The key is to respond and not react.
Sometimes the merchant is genuinely insulted, taking something about the offer personally.
Sometimes it is a negotiation tactic to intensely put down your offer, the work you’ve done, and even you to see what comes out on the other end.
If we take their communication personally, now we have substantially decreased our ability to lead this merchant through the Sales Process, turn around objections, and close/fund.
Getting emotional in negotiations is a place where most people lose control, discretion, and their plan.
When passionate emotion shows up and voice tone gets louder, most reps start to lean out and eventually run away from what they perceive to be a fight.
This is no fight, this is a massive opportunity to strengthen rapport and elicit what is really going on.
We can close the distance by leaning in and do what few do: Point out the emotion and get curious.
“I hear what you are saying, and I’m determined to work it out with you. It sounds like you are angry. What’s really going on?”
The merchant is typically expecting a defensive response – this interrupts the merchant’s pattern and gets him/her to open up even more. The more you know about the prospect’s situation, the more leverage you have in the negotiations.
As they share details and give you greater context, we must listen into what is truly a Want/preference and a Need/dealmaker.
The most resilient and creative Funding Pros win the most business
Cool heads prevail.