how to close the deal
A deal usually has several parts: the hatching of the idea by one party, then its conceptual embrace by the other side, and finally – the closing. The first two phases of a transaction or sales cycle are much easier than the last in most cases.
Sealing a deal – because of the prospect that it might fall apart before you get to that point – can put a lump in the throat of any small business owner.
Yet, there are ways to make yourself a better “closer” even if you’re not the natural schmoozing type and aren’t up on the latest sales techniques – you don’t even have to have ice water running through your veins.
Ideas for closing sales deals:
Get beyond “yes”: Time is your enemy. Once you’ve gotten your target to agree in principle that you’re going to make this deal, move them as quickly as possible toward getting it into writing. That’s because into the narrow opening between “yes” and signing on the dotted line can creep things common sales problems like second thoughts, competition or unforeseen events. So if you get a verbal expression of interest, then move resolutely toward a verbal commitment, then as quickly as possible to a written agreement that hopefully closes out the sales cycle.
Create a sense of urgency: Sometimes the person on the other end of the deal will be happy to close it – when they can get around to it. Timing may be much more important to you. So if necessary, you want to create a sense of urgency to get their commitment, and that may require some final concessions to refocus their attention. This may involve offering a 2% greater discount, net-30 terms instead of net-10 requirements, or offering a two-year service agreement instead of one-year coverage. You’ll know what it takes.
Use the threat of competition: Unfortunately, in order to get the other side to close, sometimes an entrepreneur will have to get them to understand that if they don’t do the deal with you, you’ll do the deal with someone else. Sometimes this
Sealing a deal – because of the prospect that it might fall apart before you get to that point – can put a lump in the throat of any small business owner.
Yet, there are ways to make yourself a better “closer” even if you’re not the natural schmoozing type and aren’t up on the latest sales techniques – you don’t even have to have ice water running through your veins.
Ideas for closing sales deals:
Get beyond “yes”: Time is your enemy. Once you’ve gotten your target to agree in principle that you’re going to make this deal, move them as quickly as possible toward getting it into writing. That’s because into the narrow opening between “yes” and signing on the dotted line can creep things common sales problems like second thoughts, competition or unforeseen events. So if you get a verbal expression of interest, then move resolutely toward a verbal commitment, then as quickly as possible to a written agreement that hopefully closes out the sales cycle.
Create a sense of urgency: Sometimes the person on the other end of the deal will be happy to close it – when they can get around to it. Timing may be much more important to you. So if necessary, you want to create a sense of urgency to get their commitment, and that may require some final concessions to refocus their attention. This may involve offering a 2% greater discount, net-30 terms instead of net-10 requirements, or offering a two-year service agreement instead of one-year coverage. You’ll know what it takes.
Use the threat of competition: Unfortunately, in order to get the other side to close, sometimes an entrepreneur will have to get them to understand that if they don’t do the deal with you, you’ll do the deal with someone else. Sometimes this