Putting it all together (the drive) - part ii

~CROSSING MIDFIELD~

Before getting that Contract Out, we must have an Application In --> Submission --> Approval.


This is the process of Pre-Closing.


We all want to make the big CLOSE, get that Contract Out and In and race to Funding! But there is not one big close in this game – hear me – there is Not one big close.


Funding a deal is a series of a lot of small closes strategically stacking on one another.


This is how human psychology and Influence works. Every Big Decision you’ve made in your life came down to many smaller evaluations and decisions that lead up to it.


If you feel like you have to drop the hammer over the merchant’s (Business Pro’s) head as soon as you get the Approval, there hasn’t been enough Pre-Closing done.


When you get the Application In, along with the rest of the docs you need for a proper Submission --> Pre-Close.


Ask the Business Pro (merchant) to reiterate what they are looking for (from earlier conversations). Ask them to verify the amount, their timetable for funding, and the project the capital will be funding/use of funds.


It is crucial to ask and get them talking about the project/use of funds. The more the BP (merchant) talks about the use of funds/the benefits the money will provide, and less about the actual money – the more frictionless the transaction becomes.


At the end of the day, every BP (merchant), does NOT want the Funding – THEY WANT WHAT THE FUNDING WILL PROVIDE THEM AND THEIR BUSINESS.


After submitting and getting the Approval/multiple offers, you cannot go straight into pitching. C’mon, you’re a Funding Pro. Pre-Close.


After you get the numbers from Underwriting, reach out the BP (merchant) – let them know you will have options for them shortly. Just because you are not an Underwriter, does not mean you cannot ask them questions as if you were. Ask them again about their timetable for funding, and more importantly, ask them to explain their use of funds again.


Have them elaborate on their project, and what kind of positive impact they believe it will have on revenue. Before you pitch the Approval, the BP (merchant) will be in the process of closing themselves on the importance and urgency of the funding in between conversations with you.


Wait about 30-60 minutes for proper marinating time, and now you are both ready.


Get in there and Close!


~30-YARD LINE – Get Those Docs Out~


Before we get that signed Contract In, we must get the Contract Out!


In order to do this effectively, we need to close the merchant (Business Pro) on the terms of the Approval. You are the Funding Pro, you’ve got this.


Sending the contract prematurely only wastes time and creates frustration. Like trying to feed your child before he or she is hungry, you will find your kid is distracted – and not hungry enough to focus on You and desire what you can provide.


You must lead the close so that your Business Pro (BP) states: “Send me the Contract.”


“What do I need to do to get this going?”


These are some of your explicit Buy Signals – cut and dry.


Explain the terms of the Approval professionally and answer any questions the BP (merchant) has. But you cannot stop here – that is just describing the Features of the product.


Selling Features does not close.


You must describe the Features effectively AND associate them to the BENEFITS the BP will gain through Funding with You. The best way to associate them with the Benefits is to link this Funding Approval to their Use of Funds/Project this capital will be allocated to – this you should have already elicited from them earlier in the Sales Process.


Always continue to ask about their timetable to keep them tight and prevent them from going dark.


After presenting terms, always make the ASK.


MAKE THE ASK!


“Can you put this (insert Funding Product) to work?”


A question like this is framed from an angle BP’s (merchants) will feel difficult to say “no” to. The Psychology of the Entrepreneur is rooted in “YES. I CAN. I can put this to work.”


More on this in future posts. Present, make the Ask, get the Yes, get the Docs, send the Docs.
And do it quickly.


Time kills deals!!


But, you are the Funding Pro – so, you’ve got this.


~REDZONE~

Before we start chasing down closing stips, we need to get that signed Contract In!


If you sell the approval the right way, getting docs out and back in should be a seamless process. The merchant (Business Pro) should want to already get the docs back in because they have their sights set on Funding and utilizing the capital for their project.


If you’ve used your FASS (Funding Accelerator Sales System) Mastery to sell the deal effectively – docs are out, and now the merchant (BP) is just going to look over everything on the contract to make sure it all checks out to get everything back to you asap. They’re with you, you’re with them. Let’s rush to the goal-line together.


It is important that once docs are out, you are communicating a time target with the BP on when they are expected to get docs back in to YOU. Please do not willy nilly now – keep your cadence, keep your structure, keep your professionalism all the way to Funding.


Time Kills Deals!!


Remember, you can sell a Yes, you can sell a No. You can’t sell Silence. Keep them tight to the hip, and you will get those docs in.


~10-YARD LINE~

Before crossing the goal-line, we need to get all the Closing Stips in.


A this point the signed contracts are in and now you must reel in all the closing items before the merchant (Business Pro) gets cold.


Time Kills Deals!!


Make sure to drive urgency and get everything in as soon as possible. There will be pushback on certain stips. Maybe it’s a tax return, maybe its other financials – whatever it is, assure the merchant (BP) this is part of the process, they’ve made it this far, and you are in their corner to get the deal done and their business Funded.


Whenever fielding frustration or anger from BP’s, always remember they are not angry with you – they are angry at the situation, and their perceptions about the situation. Don’t take it personal. Remain professional and helpful, their frustration will subside.


If there is enough serious pushback for whatever reason, see what you can do about getting an exception from Underwriting. Whether you get it or not, the BP will appreciate you for the effort, and their affinity for doing business with You over anybody else will rise.


You are knocking on the doorstep, keep the urgency and the energy up and you will get this deal Funded!


~PAYDIRT~


“Funded”


You know that rush you feel when you read it on the email or hear the voice of the Underwriter say it. It takes hard work, commitment, creativity and perseverance to get deals funded.


Great work, on to the next one – there’s always time on the clock to score more points. ;-)



-FundingStrategist
https://fundingstrat.com