Results 1 to 1 of 1
-
11-28-2018, 06:54 AM #1
Reputation points: 25526
- Join Date
- Aug 2018
- Posts
- 286
Field Of Play - The Sales Process Part III
In Part I and Part II *we went over what the Sales Process*was and why it was important.
Simply, it is the framework we follow to take every deal from Lead to closed and Funded Customer.
We use it to produce systematic and consistent results, AND to maximize Time.
Time kills deals!!
Always, we maximize our time our most precious resource.
Heres the recap of the Sales Stages of the Sales Process:
Stage 0 Start:
We have prepared and are ready to engage our Lead, pick up the phone and make contact.
Stage 1 The Prospected Stage:
The Lead has been pre-qualified and confirmed to be a Prospect worth pursuing.
Stage 2 The Consulted Stage:
The Prospect has been consulted about their goals/needs/obstacles, how our solutions can help them achieve their outcome, and has confirmed they want a quote.
Stage 3 The Application Out Stage:*
The Application has been sent to the Prospect, and it has been confirmed it was received.
Stage 4 The Application In Stage:
The Application is in with all supporting paperwork.
Stage 5 The Submission Stage:
The Funding Package/Application has been submitted to Underwriting.
Stage 6 The Pitched Approval Stage:
*The Approval(s) have been pitched and sold to the Prospect.
Stage 7 The Contract Out Stage:*
The Prospect has demonstrated intent to fund, requested contracts and we have sent them out.
Stage 8 The Contract In Stage:
The signed Contract is in.
Stage 9 The Closing Stips In Stage:
All closing stips UW need to fund are in.
Stage 10 The Funded Stage End:
The deal has funded, great work!
To add to our process map, if each Stage is a mile marker on the highway to Funding, the roadways in between the markers are the Phases.
Here are all the Phases:
Phase 1 The Prospecting Phase
*
Phase 2 The Consulting Phase
*
Phase 3 The Application Sending Phase
*
Phase 4 The Application Reeling-in Phase
*
Phase 5 The Submitting Phase
*
Phase 6 The Closing Phase
*
Phase 7 The Contracting Phase
*
Phase 8 The Contract Reeling-in Phase
*
Phase 9 The Closing Stip Reeling-in Phase
*
Phase 10 The Funding Phase
Each one of these Phases has specific steps to complete to get to the next Stage, and there are Key Steps to take in each Stage to accelerate your sales cycles and closings (more on this later).
This is what it looks like when we put it all together:
Stage 0 Start:
How do I know for sure I am at this Stage?
We have prepared and are ready to engage our Lead, pick up the phone and make contact.
Next:* Phase 1 The Prospecting Phase
Stage 1 The Prospected Stage:
*********** How do I know for sure I am at this Stage?
The Lead has been pre-qualified and confirmed to be a Prospect worth pursuing.
Next:* Phase 2 The Consulting Phase
Stage 2 The Consulted Stage:
How do I know for sure I am at this Stage?
The Prospect has been consulted about their goals/needs/obstacles, how our solutions can help them achieve their outcome, and has confirmed they want a quote.
Next: Phase 3 The Application Sending Phase
Stage 3 The Application Out Stage:
How do I know for sure I am at this Stage?
The Application has been sent to the Prospect, and it has been confirmed it was received.
Next: Phase 4 The Application Reeling-in Phase*
Stage 4 The Application In Stage:
How do I know for sure I am at this Stage?
The Application is in with all supporting paperwork.
Next: Phase 5 The Submitting Phase
Stage 5 The Submission Stage:
How do I know for sure I am at this Stage?
The Funding Package/Application has been submitted to Underwriting.
Next: Phase 6 The Closing Phase
Stage 6 The Pitched Approval Stage:
How do I know for sure I am at this Stage?
The Approval(s) have been pitched and sold to the Prospect.
Next: Phase 7 The Contracting Phase
Stage 7 The Contract Out Stage:
How do I know for sure I am at this Stage?
The Prospect has demonstrated intent to fund, requested contracts and we have sent them out.
Next: Phase 8 The Contract Reeling-in Phase
Stage 8 The Contract In Stage:
How do I know for sure I am at this Stage?
The signed Contract is in.
Next: Phase 9 The Closing Stip Reeling-in Phase
Stage 9 The Closing Stips In Stage:
How do I know for sure I am at this Stage?
All closing stips UW need to fund are in.
Next: Phase 10 The Funding Phase
Stage 10 The Funded Stage End:
How do I know for sure I am at this Stage?
The deal has funded, great work!
*
We now have a more detailed Sales Process map that allows us to better gauge where we specifically are with any given deal in our pipeline.
Knowing our end-destination is key to getting there consistently, but we cannot effectively Accelerate the process of getting there if we do not know where we are Now in comparison to that end-coordinate.
Fund on!
-FundingStrategist
https://fundingstrat.com
Similar Threads
-
Field of Play - The Sales Process Part II
By FundingStrategist in forum Everything elseReplies: 0Last Post: 10-31-2018, 07:08 AM -
Field Of Play - The Sales Process
By FundingStrategist in forum Everything elseReplies: 3Last Post: 10-30-2018, 02:49 PM -
Streamline Your Sales Process with Salesforce Workflows
By HenryA in forum PromotionsReplies: 0Last Post: 01-31-2017, 12:01 PM -
Looking for a banking institution to process LC for international car sales
By Peak Source in forum Merchant Cash AdvanceReplies: 1Last Post: 08-05-2015, 12:45 AM -
Looking for a banking institution to process LC for international car sales
By Peak Source in forum Deal BinReplies: 0Last Post: 08-04-2015, 05:51 PM