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Your checklist for closing opportunities this quarter

Another quarter, and for most, another year comes to an end. We all have one thing on our minds: closing sales. As we apply best practices to get these deals in the door, there are often obstacles preventing us from getting a firm YES from our prospects. The sales cycle is rife with challenges, and we could all use a checklist to help us turn those challenges into closing opportunities. Asking ourselves about our prospects’ sales process and understanding their needs on a deeper level will help us get a YES with time to spare in the quarter.

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Your checklist for closing opportunities this quarter

  1. 1. Your checklist for closing opportunities this quarter COMPLIMENTARY WEBINAR This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden. October 15, 2015 | JB Bush
  2. 2. Agenda © 2015 ValueSelling Associates, Inc. All rights reserved. Closing the sale - Skill or process? Top 10 questions we must ask to be certain opportunities will close Tactics and strategies for successful closings
  3. 3. Think of a key opportunity… © 2015 ValueSelling Associates, Inc. All rights reserved.
  4. 4. The Value Buying Process Business Issue Problem Solution Value Power Plan Differentiated VisionMatch™ Confirm Confirm Qualified Prospect = Differentiated VisionMatch x Value x Power x Plan® © 2015 ValueSelling Associates, Inc. All rights reserved.
  5. 5. Are we at Power? Authority and access to funds Procurement process Are we at risk? Do we need to partner to get to Power? © 2015 ValueSelling Associates, Inc. All rights reserved. 10
  6. 6. What is our prospect’s reason to change? Is our solution connected to resolving our prospect’s business issue? Individual objectives, imperatives, drivers, KPIs may be incomplete Wrestling with identifying the value/impact of our solution? Good chance we don’t have business issue confirmed Remember -- VALUE accrues to the business issue -- not just to problem-solving © 2015 ValueSelling Associates, Inc. All rights reserved. 9
  7. 7. Is our solution differentiated? What is unique or better about our solution? All that matters is the prospect’s perception Why would a prospect require that uniqueness? Prospect must articulate in some way that we’re their best solution No Differentiated VisionMatch? Let’s be deliberate and make visible unrecognized business issues and problems that only our solution can address! © 2015 ValueSelling Associates, Inc. All rights reserved. 8
  8. 8. What’s the personal motivation? People are motivated for their own reasons…not ours Uncover and connect to WII-FM Helping our prospect achieve his/her individual goals is critical to creating urgency © 2015 ValueSelling Associates, Inc. All rights reserved. 7
  9. 9. What criteria will our prospect use to justify their decision? Can the impact on their business be measured and quantified? Do they believe the ROI or value? Are there any other initiatives that have a bigger impact? Value is customer-specific! Is it worth it? © 2015 ValueSelling Associates, Inc. All rights reserved. 6
  10. 10. Half way – let’s recap: © 2015 ValueSelling Associates, Inc. All rights reserved. 10 Are we at Power? 9 What is our prospect’s reason to change? 8 Is our solution differentiated? 7 What’s the personal motivation? 6 Is it worth it?
  11. 11. Do we understand our prospect’s process? Evaluation, decision and procurement What happens after they select a vendor? – Who is able to sign? – Are there phases, steps? – How long does it take for a purchase order to be issued? Can various processes be conducted simultaneously, i.e., legal review? © 2015 ValueSelling Associates, Inc. All rights reserved. 5
  12. 12. Does our prospect know and own the Plan? Is it mutually-agreed upon? – Joint ownership – Based on customer requirements – Shaped to include the items we know will lead to success Is it in writing? The end date….when the customer’s business issue is resolved, Value is realized One key aspect: have they agreed to the Plan? © 2015 ValueSelling Associates, Inc. All rights reserved. 4
  13. 13. Is timing critical to our prospect? Is the timing of the expense for our services an issue for our client? o Year-end budget dollars may need to be used o Expenses may be postponed to make quarter or year earnings goal Critical for each of us to understand and manage…get creative, if possible © 2015 ValueSelling Associates, Inc. All rights reserved. 3
  14. 14. Are there unaddressed objections? Unaddressed objections will stall a sale every time Objections are usually requests for more information Use a 5-step approach to determine what information is missing or has changed – Embrace the objection – Clarify – Diagnose using the QP Formula • QP = VMd x V x P x P – Isolate – anything else? – Address the objection © 2015 ValueSelling Associates, Inc. All rights reserved. 2
  15. 15. Could we be blindsided? What are the individual schedules of our prospects? – Vacations – Holiday shut downs Does prospect’s organization have a purchasing “cut off” date to prepare for year-end or quarter close? Find out TODAY, not December 31, and make adjustments to the written plan © 2015 ValueSelling Associates, Inc. All rights reserved. 1
  16. 16. To recap: © 2015 ValueSelling Associates, Inc. All rights reserved. 10 Are we at Power? 9 What is our prospect’s reason to change? 8 Is our solution differentiated? 7 What’s the personal motivation? 6 Is it worth it? 5 Do we understand our prospect’s process? 4 Does our prospect know and own the plan? 3 Is timing critical to our prospect? 2 Are there unaddressed objections? Could we be blindsided?1
  17. 17. What can we do today? What are the top deals you need to get in the door? Ask the questions – be honest with yourself. Rejoice over discovered holes or missing components Go to work, fill the gaps! Better to identify the gaps now, not on December 31st! © 2015 ValueSelling Associates, Inc. All rights reserved.
  18. 18. Questions? © 2015 ValueSelling Associates, Inc. All rights reserved.
  19. 19. At the end of today’s webinar Go to valueselling.com > resources > webinars to download today’s slides © 2015 ValueSelling Associates, Inc. All rights reserved.
  20. 20. Visit the eStore at valueselling.com Books ValueSelling tools On-demand courses Complimentary library of webinars and newsletters © 2015 ValueSelling Associates, Inc. All rights reserved.
  21. 21. © 2015 ValueSelling Associates, Inc. All rights reserved. Save the date! Our next webinar will be on: Why sales training typically fails November 19, 2015 | 10:00AM PDT
  22. 22. Reach out and connect… JB Bush | Managing Partner jb@valueselling.com + 1 949 307 1870 www.linkedin.com/ jbbush jbbush1

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