A deal typically has three parts: the creation of an idea by one side, its conceptual embrace and the closing. The closing of a sale deal is usually easier than the closing phase.
Small business owners can feel overwhelmed by the thought of sealing a deal that could fall apart.
There are still ways to be a better “closer”, even if your not the most sexy person or aren’t fluent in the latest sales techniques. It doesn’t matter if you have ice water in your veins.
Ideas for closing sales deals
You must get beyond “yes”: Time is your enemy. Once your target has agreed in principle that they will make the deal, you need to move them quickly to get it written. Because common sales issues like competition, second thoughts and unexpected events can get in the way of your target signing the contract. Once you have received a verbal expression, work quickly to get a verbal commitment and then a written agreement. This will hopefully close the sales cycle.
Make it urgent: Sometimes, the person at the other end will be more than happy to close the deal if they have the time. Timing is important for you. You may need to make concessions in order to get their attention. You might offer a net-30 discount of 2 percent or a 2-year service agreement. It’s not hard to understand what it takes.
You can use the threat of competition. Sometimes, this means bluffing or enhancing the value of what you offer. If you convince your target that you are doing something powerful, everyone will want a piece.
Generate late-breaking news: Throughout the relationship-building and negotiating process and beyond, always funnel helpful, new information to the other party. You might use this to announce a new product or to publish a story about the business in the local paper. Or, you could also include the results of an independent test or testimonial from a customer.
Don’t be surprised if deals don’t go through. This is based on the potential relationships and transactions your company pursues. Sometimes it happens. It is important to not lose any deal and work hard to get every one. You must also be realistic about percentages in order to raise them.
