When to use it?
What does it sound like?
“Considering (insert initiative) and (insert compelling/trigger event) it looks like this really is the best time to close and fund. That check out with you?”
“Considering you’re gearing up to acquire your competitor due to his recent closing and there is only a limited time to get this deal done, it looks like this is really the best time to close and fund. That check out with you?”
How it works?
This is a nerve-wracking time for most, as Covid and its associated economic impacts has created the most uncertainty we’ve undoubtedly experienced in the 21st century.
But not all businesses are suffering. Some have been thriving and will continue to capitalize on the opportunities the pandemic and its paradigm-shifting business landscape provides.
Some businesses are in a great position because their industry was boosted by shifting demand, and others are flourishing because they prudently prepared, competitors are failing and they are now in a prime position to gain market share.
For many businesses, this is not the right time to fund new projects or new initiatives. But for others, this is exactly the right time. In fact, this is a once in a lifetime moment for some – where the rewards are atypically high to ratio of risk involved.
When a merchant comes to you to take a look at funding options because of these Compelling Events, you must capitalize on the timing just as much are they are.
There is a limited time to capture any opportunity the presents itself, and the stakes have never been higher, due to Covid.
Why it works?
Time kills deals!
Don’t let the merchant get lost in the dizzying stream of endless developments and uncertainty. Keep them on task on what they’ve shared with you when they’ve been the most lucid and focused. The pandemic has created so much uncertainty and so many spinning plates for businesses, that the best space for merchants to think straight is when they’re speaking with you and you’re asking the right questions.
You must feed back the compelling event and its associated timing the merchant has shared with you in order to really drive in what the objective really is here.
You’ve already gone over the kind of financial impact this objective is going to accomplish for the merchant if successfully executed with the Impact Close. As the merchant’s Trusted Advisor you’ve talked through the risks and how to mitigate them.
You’ve shared the limited amount of time associated with the Approval, considering circumstances. With all of these factors summarized, the conclusion is the this truly is the best time to close and fund.
Add this close to your arsenal and capitalize on the Opportunity in the storm!