How to Get the Money You need when I Close?

I’ve been on countless stages and one question I hear a lot is:

Blair, how do I get the money I need when I close?

The answer is simple if you’ve followed my techniques so far.

You got through the basic elements to close a deal. Now it’s time to deliver.

If you asked trial close questions throughout your conversations, your client may already be on board. But, now you need to arrange the delivery and payment part.

First, you’re going to talk about pricing. Especially if you haven’t worked out a deal beforehand.

Your business or product costs money. And, this is where a lot of salespeople get hung up.

I always bring up two prices when closing a deal. The first price is your competitor’s pricing or pricing that’s not yours. Choose a price that’s more expensive than yours and bring it up first.

For example, I did a deal with an airline company a few years back for some team development training and a little bit of sales training. I knew that they used a very big global consulting firm at the time. 

The firm was very good and very professional. And they were also very expensive.

So, when I got around to pricing, I broached the $100,000 per month they were paying for the firm’s consulting service. I also brought up the value of my training, but I wasn’t charging $100,000 per month.

When I mentioned my pricing, it looked cheaper in comparison.

What happens if you just throw a number out there without the comparison?

Many people don’t understand the value of what you have in a monetary sense. So, it’s a good idea to offer a comparison price before you tell them what your prices are. Otherwise, your pricing looks expensive without the comparison. 

Sometimes you may have a third price or discounted price. If you have the ability to give a discounted price, offer it last. Don’t say it upfront, though.

Talk about the discounted price at the very end once they’re already sold on the whole deal.

Also, give a limitation on the deal by quantity or by time. If you don’t put limitations on it, the deal has no validity. Plus, it sounds like you’re just trying to schmooze people.

Remember, it’s all about how you frame it. 

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Ask Questions to Close

I used to be in your shoes. A long time ago, I struggled with closing. I had a little voice telling me all the reasons why I couldn’t do it.

But you know what?

I found that if you lay down the proper foundation, closing is a natural end to a conversation.

Let me tell you what I mean by that…

There are certain basic elements that must be in place in order to close a deal. If you have these basics down, closing is more like arranging to deliver goods than closing.

Why is that?

Because if you’re laying down the basics correctly, you’re priming your customer for closing.

Here’s a breakdown of what it should look like:

Assess Needs Accurately

First, you need to show an understanding of where they’re at in their world. You do this by restating their problem. 

Why is this step necessary if the client told you their problems?

Restating the problem helps both you and the client to focus.

The person you’re talking to has a million other things going on in their life. But when you articulate the problem you bring the focus back to you. It also helps you focus as well.

Ask Question to Close

All of your conversations with the prospect should set you up for closing. And that includes the questions you ask.

So, it’s not enough to state a problem. Follow it up with a question like, “Do you recognize this as being a problem in your business?”

The prospect’s response may be something along the lines of, “Yeah, Of course.”

You can also ask questions like:

Is there anything you’d like to say about that?

Does this make sense to you?

These are trial close questions. They get the person to start saying yes and agreeing with you. But, that’s not all.

The questions also allow you to see if you’re on track.

Solution or WIIFM (What Is In If For Me)

After all that, it’s time for the solution you have configured for them. But don’t stop there.

Try framing the solution in two parts: feature and benefit.

The feature may include creating metrics and understanding where the numbers come from. But the value or benefit comes from maximizing the areas they’re already good at and coaching them in the weak areas.

Take these basic, but necessary steps and closing is just a matter of delivering the goods. With your trial close questions, they’re already saying yes.

#blairsinger #salesdogs #TeamCodeofHonor #RichDadAdvisors #Entrepreneurship #Leadership #Sales #PersonalDevelopment #Management