BUSINESS DEVELOPMENT EXPERT » closing

No. 18 – Year end closing plan

Ian Farmer — Thu, 08 Oct 2009 14:16:13 +0000

HOW SAFE IS YOUR YEAR END QUOTA?

Many sales and business development people are looking at how they are going to finish the year and bring in their outstanding deals to hit quota so here is a closing checklist to help you. 1) Are you really dealing with ALL the decision makers? 2) Is your proposition a “nice to have” or a “necessity” what urgency to buy have you created? 3) Have you submitted a quote or proposal? 4) Does your proposal show hard cash savings or revenue gains with a real ROI agreed with the prospect? 5) What risks do you have to minimize to avoid a no go decision? 5)What else could “your” budget be spent on instead of your solution or service – how will you counter this?

Don’t fool yourself, if there is the slightest doubt – go back get this information. Make a list of what you need to do to close the deal, with dates, and have a formal closing plan.

No. 11 – WIN MORE ORDERS AND ASSIGNMENTS BY OFFERING YOUR PROSPECT A CHOICE

Ian Farmer — Mon, 06 Apr 2009 17:59:00 +0000

Too often we submit proposals that unintentionally offer the prospect, client or customer a simple choice – go ahead or don’t. Whenever you are uncovering your prospect’s needs and presenting your solution always look for two options they could go for – don’t invent something and make sure you have raised the options in the discussions. For example you could offer pricing options, product configuration options, delivery and installation options. Then when you present the proposal you are asking “do you want to go ahead with Option A or would you prefer Option B?”. The prospect is then deciding which option to take rather than deciding on the choice we usually give which is “do you want it or not”.

No. 10 – IS YOUR RELATIONSHIP WITH YOUR PROSPECT TOO GOOD?

Ian Farmer — Mon, 23 Mar 2009 13:37:00 +0000

The danger in “relationship selling” is that sometimes YOU do too good a job. If you have some deals stalling at the moment look out for this – you build such a good relationship with the prospect or client that they don’t “have the heart” to tell you they are not going ahead. The sale just seems to drag on, with them putting up seemingly good reasons to stall, and you ending up in “continuation” mode. If you are feeling this is the case then politely tell them (don’t ask them) that YOU are withdrawing your proposal as the time does not seem right for them to make a decision. A real prospect will say “hold on not so fast” and give you the real situation. A real prospect but where the timing genuinely is wrong will say “phew! would you, thanks I appreciate that” BUT they DO come back to you. The people you don’t ask at all but you end up pestering – they are the ones where that good relationship eventually falters, even if they were going to buy they often don’t. Never be afraid to offer to walk away!

No. 9 – ARE YOU QUALIFYING THE PROSPECT OR SPINNING YOUR WHEELS?

Ian Farmer — Tue, 10 Mar 2009 10:41:00 +0000

When sales are slow the temptation is to try and sell to everyone. Sometimes we forget about “prospect qualification” and we end up wasting time. The prospect has to have a Need for what you are selling, they have to have the desire to do something about the need and a desire to do something about the need with you. The prospect must have the Money and the willingness to spend it. Finally you must be dealing with someone who has the Authority to say yes.

Who’s the MAN? The person with the Money Authority and the Need of course! Or as one my lady colleagues says “actually its the WOMAN – Who Own the MAN!”

No. 6 – ARE YOU NEGOTIATING TOO EARLY AND EATING INTO YOUR MARGINS?

Ian Farmer — Mon, 16 Feb 2009 11:43:00 +0000

The negotiation starts and the selling stops when the customer’s need for the product or service is equal to the seller’s need to sell it. In other words, figuratively or literally, the customer is saying “I am buying, from you, subject to terms”. Frequently, however, the sales person offers discounts or incentives before the customer is really ready to buy. This tells the customer you will drop the price and may even leave the customer thinking you are over priced. Make sure before you start negotiating that you have asked your prospect “are you ready to buy?” – you may have more selling to do. Don’t offer any incentive too early, you may end up having to offer even more later to close the deal.

No. 1 – IF A PROPOSAL IS WORTH WRITING THEN IT’S WORTH PRESENTING!

Ian Farmer — Mon, 19 Jan 2009 20:52:00 +0000

Does your sales process mean giving your prospect a written proposal? Then present it in person, don’t send it. You should use a proposal to close the order not open the sale, this means you need to be there. If a visit is not practical, arrange a set time to telephone and with the prospect on the line email your proposal, present it and then ask for the order. More info on proposal writing.