Selling More by Talking Less
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MST Selling System

WHO IS CLOSEST TO MONEY?

| April 10, 2015 | 0 Comments

Recently, I started working with a design-build firm.

Design-build is where a company would like to build a new facility and instead of first hiring an architect, then a builder along with all the subcontractors that go along with a building project – many times it makes more sense to work with a company that handles everything from start to finish or design to build.

Needless to say, the sales cycle is rather long and the total price tag is pretty big.

The reason we started working together is that their selling cycle seemed to be getting longer and longer.  Maybe you can relate.

Projects that had gone from prospect to closed sales in the past, took 9 months on average.  These same types of projects were now taking 12 to 18 months.

Now this wasn’t because the process itself was requiring more time, nothing slowed down with getting permits, architects were still churning out blueprints and building materials were still able to be delivered on time.  All that is the stuff that is done once they have been hired and the sale is made.  The process was slowing down early on in the selling process, specifically in the initial communication phase.

Meetings and phone calls were ending without a specific next step to move forward.

When we say it out loud – it sounds crazy, but how often does this happen in your world?

Have you ever left a meeting without a clear “here’s what is going to happen next”?  Sure, we all have.

 

So, here’s an easy low-tech technique you can implement in your business today to close more deals tomorrow…

Grab a piece of paper and write down each of your prospect’s contact or company names.

Next to each name, write down the very next thing that needs to happen.

This could look like:

“McCormick – get signed PO”

Allness – get decision date for quote”

“Smith – schedule site visit”

 

Once you have the list complete – ask yourself which one of these is closest to money.

Meaning, of everyone in your pipeline – which step is the closest to closing the sale?  All of these are important and you will eventually have to do them anyway, but we also have to start someplace, so why not start with the ones closest to money!

 

Because the best ideas are the ones we actually use…

Let’s do some MST:  MINDSET – STRATEGY – TECHNIQUE

Mindset is the “WHY” – The reasons and attitude we bring to what we do.

When our intentions are clear, then our actions become easy.  Sometimes just putting things in order with a clear next step is all the motivation we need to take action.

Strategy is the “HOW” – How can we put this idea into our business today or next week.

Asking ourselves which one is closest to money, brings a sense of urgency and ensures us that we’re spending our time in the areas that have the highest rate of return.  Have you ever spent a day being real busy – only to get to the end, with nothing to show for it?

Technique is the “WHAT” – What we can specifically do to make this idea work for our business.

As you go through your pipeline, look for the deals that have a high and a low probability of closing.  Ask yourself what you can do to either get a “yes” or “no”.  This might be as simple as picking up the phone and saying; “I’m thinking there is a possibility of us doing business together in the near future – am I way off base?”

This one question will save you hours of busy work.  If they agree that you will be working together – great!  What’s the next step?  On the other hand, if you find out that only you and your manager thought they were in your prospect pipeline – then wouldn’t you like to know?

 

Let your competition continue to stretch out their sales cycles, wondering why it’s taking people so long to make a decision.

You… take charge and stop wasting time with the people who shouldn’t be in your pipeline in the first place and start asking yourself who’s closest to money, then get clear on the next step and make it happen.

 

THE COMPETITION – THEY DON’T HAVE THIS MINDSET, STRATEGY AND TECHNIQUE…

YOU’RE SELLING MORE BY TALKING LESS.

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