Why Prospects Should Pay You BEFORE Closing the Business Deal
Most sales professionals act like servants to potential customers before closing the business deal: they work their tails off to please them to get nothing in return.
They often work their tails off only to LOSE the business deal.
Meanwhile, the best sales professionals are getting paid before the sales deal closes!
Getting paid before closing the deal is a natural part of the sales process for great salespeople.
More importantly, getting paid early in the sales process increases the odds of the business deal closing.
I am proving it by sharing why prospects should pay you before closing business deals.
Additionally, I am sharing how sales professionals get prospects happily paying them before closing the B2B sales deal.
Stop playing the role of a servant. Get paid before closing the business deal to close more deals AND get the respect you deserve.
99% of Prospects Steal From Salespeople Before Closing
Most sales reps give away free value before closing the business deal.
By free value, I mean they give away their business strategy via a sales proposal as if it is worthless.
Moreover, they are revealing the secret/plan of attack to solve the prospect’s pain point before the deal even closes!
At that point, the prospect could walk away with the insights they need to solve their problem without paying the sales team.
Doesn’t it sound off?
Here is how most salespeople rob themselves of value and why it is problematic.
How Most People Try to Close Deals & Usually Fail
Here is a summary of how most salespeople try to close deals:
First, the sales team contacts their prospects. After countless phone calls and emails, they eventually get them to agree to an initial discovery call.
During the discovery call, the sales team spends 90% of the time talking about their company and what they do, and the other 10% discussing the prospect’s needs. Then, the potential customer asks for a proposal at the end of the call.
After working countless hours on a fabulous proposal, the sales team sends it off to the prospect, sometimes the decision-maker. Then, the potential customer goes silent for days, weeks, or even months.
After trying to increase the prospect’s sense of urgency, the sales team waits forever to hear back about the proposal.
Following weeks of waiting, the prospect responds and sets up the next meeting. Typically, there are several meetings before the final sales pitch.
Finally, the sales team makes their sales pitch to attempt to seal the deal. They use buzz-worthy sales pitching techniques like the assumptive close, closing questions, and the take-away close to woo the potential customer.
Even though the prospect already got a proposal and a killer pitch, they STILL have objections and want to negotiate.
After several more weeks of waiting on a purchasing decision, the sales team is back in limbo again!
I Bet You Loathe Sales Proposals But Still Give Them Away Like Candy!
Most salespeople shoot themselves in the foot at the very start of the sales process by giving away a value-filled sales proposal.
Again, the proposal reveals the secret/plan of attack to solve their pain point.
The moment a prospect gets a proposal in their hands is when they do not need you anymore- Why should they pay for your help if they already have a detailed plan?
That said, I bet you despise handing out proposals!
Specifically, I guarantee you hate putting countless hours into proposals only for prospects to treat you like crap after getting it in their hands.
Not only do they treat you like crap, but they do not pay you anything in return.
Why Should You Give Your Strategy Away Without a Return?
Would you walk into a grocery store with a pizza in hand and walk out without paying?
Of course not.
Because, that is stealing. AKA, the act of taking something without giving something of equal value in return.
So, why should you give away your strategy in a proposal without getting paid?
Why are prospects entitled to proposals without giving you cash?
The prospect will not respect your expertise if you give away a value-filled proposal without getting paid.
If prospects do not respect your expertise during the sales process, do you think they will treat you well once they convert into paying customers?
Don’t be afraid to call a spade a spade!
Handing out value-packed proposals to prospects without getting paid is like holding the door open for a bank robber to steal from you.
Prospects Ultimately Take Control of the Sales Process
Prospects have the upper hand once they get a proposal in their hands.
Moreover, they have control of the sales process.
However, you should NOT blame prospects for taking control; you are the one who gave away free value as if it was candy!
Why wouldn’t they take the candy from you?
Unfortunately, the moment the prospect takes control of the sales process is when you and your team teeter-totter on the verge of failure for weeks or months.
Because now you are on the prospect’s time. With your proposal in hand, they begin scoping out your competition, searching for other options.
Meanwhile, you are sitting there twiddling your thumbs.
The worst part is there is a chance the prospect will get your proposal and eventually ghost you completely!
Sadly, it happens all the time.
Stop Letting Prospects Steal From You and Start Getting Paid!
From here on out, you will never send another free sales proposal revealing your strategy.
That is if you want to stop getting robbed by prospects, losing control, and ultimately losing the business deal.
From now on, you will get paid before showing your strategy.
After making the pitch, prospects will close the deal, pay you again, and ONLY THEN DO YOU REVEAL THE STRATEGY.
Here Is What Your New Sales Process Will Look Like
Here is what your new sales process will look like sans free proposal.
In addition to not giving away free value, this process will help you close more deals and close deals faster than ever!
From now on, here is what you will do:
- Make cold calls like a boss
- Have a discovery call getting to understand the prospect’s business goals and pain points
- Get paid to dive deep into analyzing the prospect’s needs
- Make the final sales pitch
- Close the deal (get paid again for your strategy)
Closing business deals with this process should take a few weeks at most.
Most importantly, you will not give away your strategy until they have already paid you once and officially signed the dotted line.
Remember, prospects rob you if they take your strategy without paying you for it first.
How to Get Paid by Prospects Before Closing the Business Deal
Here is an in-depth dive into your new sales process to getting paid before closing the business deal.
In addition to helping you get paid for the value you bring to the table, this process will speed up your sales cycle faster than ever.
More deals in less time and getting paid for the value you bring to the table?
Look no further.
Clarify the Value You Bring to the Table
First, you cannot get paid before closing the deal unless you bring serious value to the table.
Unfortunately, many business owners and sales professionals bring value to the table but cannot articulate it.
Specifically, they know what their product or service does but do not know how to articulate the outcome it creates for their customers.
For example, a social media marketer sells marketing services, but the outcome of their services is greater awareness, more leads, and eventually more new customers.
That said, you must be able to articulate the value your business creates for customers!
Unless you thoroughly understand and articulate the value, prospects will not respect you, and your bottom line will stagnate.
Sadly, most entrepreneurs do not know how to articulate the value they bring to the table because they go through run-of-the-mill sales training courses.
Knock the Initial Cold Call Out of the Park
Next, you are ready to take action on your sales strategy.
Begin generating leads with cold sales calls. No, not cold emails! Cold phone calls.
Unlike cold emails, cold calls allow you to talk to prospects in real time.
Prospects have a harder time ignoring you when you are consistently calling them!
Then once you get them on the phone and drop an enticing hook, it is difficult for them to resist you.
If making cold calls freaks you out, remind yourself that you are not selling the product or service during the call.
Instead, you are simply selling the next step of the process! The sole objective is to get the prospect to agree to a formal discovery call.
Unless you generate leads through effective cold calls, you will not even have a chance to sell your product or service.
Use the Discovery Call to Increase Sense of Urgency
Most salespeople use the discovery call to talk about themselves, what they do, and what they sell.
Moreover, they make the call all about themselves instead of the prospect.
By doing so, the salesperson commodifies themself!
Because they commodify themself, they are easily replaceable.
Because they are easily replaceable, the prospect inevitably wants a proposal to weigh their options, as there are always many options for commodities.
That said, avoid commodifying yourself by using the discovery call as a chance to ask the prospect questions about their pain points and goals.
Uncover the destination they want to take their business to and what is holding them back from reaching it.
AKA, uncover the pain points standing in their way.
By making the call about the prospect instead of you, they begin to see you as an expert.
Similarly to a doctor who asks questions and runs analyses before speaking, prospects will see you as an expert who they cannot afford to lose.
By the end of the call, the prospect’s sense of urgency will be extremely high.
Run an Analysis Before Closing the Deal (Get Paid Here!)
Now that you have established yourself as an industry and sales expert, you are ready to get paid.
Before the initial discovery call ends, offer to run an in-depth analysis of your prospect’s key pain points.
Think of yourself like a doctor who wants to run a CT or MRI before suggesting a pathway like surgery forward.
Running an analysis allows you to dive deep into the prospect’s company to get a better understanding of what their needs are.
However, analyses are not free!
CT scans and MRIs are not free, and neither should your analysis.
That said, the prospect must pay you to receive the analysis of their company.
Thankfully, if you made the initial cold call and discovery call like a boss, the prospect will not be troubled paying you a fee for your expert services.
Close With a Final Sales Pitch (& Get Paid Again)
You are ready to close the deal with the final sales pitch!
This presentation is about revealing the problems your paid analysis uncovered.
Specifically, the problems preventing prospects from reaching their desired business outcome AND what it will take to overcome them.
It is as if you are a doctor reading an MRI and proposing solutions to solve the patient’s injury.
So not only did you get paid, but you now have the information you need to help the prospect achieve their ultimate business goals!
This would not have been possible had you not gotten paid for the initial analysis.
The prospect will be ready to sign the deal at the end of the sales presentation.
Also, they will do it without making objections or calls for negotiation.
Final Thoughts on Getting Paid Before Closing the Business Deal
You’re not closing business deals because of incorrect sales closing techniques or sales tactics.
Instead, you are allowing prospects to rob you of your value and still expecting them to respect you enough to close the deal!
From now on, stop acting as if you are a servant and letting prospects rob you; get paid before closing business deals!
Remember, getting paid before closing business deals helps you close more deals faster than ever.
Therefore, getting paid before a deal is not a plus but a must.
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