[capaxess]

My pitch is efficient in that it's simple and quick; I call on UCC/MCA leads so I just say "It looks like you were able to get financing in (month), are you looking to renew or do you need additional cash?"



Great work putting the dials in with consistency. Your continuity of effort will continue to get you better over time, flat out.

A lot of great points from everyone here.

This pitch:

"It looks like you were able to get financing in (month), are you looking to renew or do you need additional cash?"

Keeping everything before the comma is ok. After the comma, a more effective question would be, “do you have any projects this month we can assist with?”

They may be not looking to renew because whoever initially worked with them told them they needed to be at 55% paid in, but they’re at 41% and they have a Limiting Assumption of what can and cannot be done at this time. (The numbers may work in your favor to get them funded, but you’re the Funding Pro, they’re not.)

They may not “need” additional cash, or perceive they need additional cash at this moment when they speak to you – but they may be able to use it.

Need is a touchy word, because no one wants to admit to a stranger they’ve been talking to for 6 seconds that they are in need of anything. People can subconsciously shut you out immediately if you hit a pain or discomfort point before building rapport. Here, we want to prevent the “click, dial tone.”

We also don’t know the merchant’s Buying Strategy yet, so we really don’t know what in this Business Owner’s world triggers him to feel: “I need additional funding for X.” We need to elicit this, but in order to do so, we need to continue to drive the conversation.

Using “cash” within the first few seconds of the conversation comes across as a bit vulgar. Notice, banks hardly use this word but have a lot of derivative language to describe the same thing to soften and professionalize it. Even through the ups and downs, banks have still engendered a lot of Trust with people over the centuries, so there's something here.

We want to prevent the merchant from creating an unsavory mental image about you and what you represent at the outset. And although it sounds simplistic, we want to create a great impression right off the bat.

“Fundamentals, Fundamentals, Fundamentals”

-Coach John Wooden

Getting a quick “Yes” here keeps the conversation alive. Ask them a question all business owners have a tough time saying no to: “Any projects this month…?”

This opens them up to what is going on in their world/business, what they’re working on, and elicits Utility Cases for Funding along with Timelines.

“…we can assist with?” This creates curiosity in the merchant as he thinks and expresses, “how so?” You’ve differentiated yourself as the Funding Pro, someone who is willing to consult the merchant, their Trusted Advisor for funding opportunities (as long as they are worth consulting at this time, contingent on pre-qualification), and prevented the merchant from feeling that you are the 11th caller trying to cram cash down their throat. ;-)

Hope this helps!


-FundingStrategist
https://fundingstrat.com

Awesome! Really good stuff! Ok, you are correct on many points, in fact I find that by connecting with the merchant in ways that engender conversations regarding the USE of money rather than the money itself is very productive. Words are important as well as how and when they're used.

All sales follow the same pattern: Attention, Interest, Desire, Sale (AIDS). Every sale checks off on all of these stages and you need to discern where you are in the process in order to proceed successfully. I start with asking for the prospects first name and if they answer "That's me", I always introduce myself like 007: Bond, James Bond!

I introduce myself in a way that would suggest they might even know me which produces a few micro seconds' pause while they're thinking. I then go into 'It looks like you were able to get some financing in (month of UCC filing), I reached out to see if you have new expenses or projects that require cash now?"

Many will respond at this point with "not interested". Any answer that keeps them engaged means I have "interest". If they say "not now" I always ask if they think they'll be looking for funding in the next 3 months.

If the conversation goes further into things like rates or cost related things then I know I have desire.

I'll continue later but this is really good sharing if techniques and methods! I have a pile on my desk so later all! Cheers!