Results 1 to 11 of 11
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03-06-2019, 06:39 AM #1
- Join Date
- Aug 2018
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- 286
Sales Phase 10 - Key Step #3
https://fundingstrat.com/sales-phase-10-key-step-3/
Recap:
On our Sales Process map, if each Stage is a mile marker on the highway to Funding, the roadways in between the markers are the Phases.
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Here are all the Phases:
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Phase 1 The Prospecting Phase
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Phase 2 The Consulting Phase
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Phase 3 The Application Sending Phase
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Phase 4 The Application Reeling-in Phase
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Phase 5 The Submitting Phase
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Phase 6 The Closing Phase
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Phase 7 The Contracting Phase
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Phase 8 The Contract Reeling-in Phase
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Phase 9 The Closing Stip Reeling-in Phase
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Phase 10 The Funding Phase
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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.
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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
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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
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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
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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*
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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
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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
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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
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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
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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
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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
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Stage 10 The Funded Stage End:
How do I know for sure I am at this Stage?
The deal has funded, great work!
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*Phase 10 The Funding Phase*
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This Phase is the set of steps between Stage 9 and Stage 10.* It is the last phase in the Sales Process.
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*Key Step #3: Let the merchant know they have been funded, record it in your database and set your sights on the next one!* Fund On!!*
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Why is this important?
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We have now ended the Funding Phase, Phase10, and are squarely at Stage 10 The Funded Stage.* We have gone through the entire sales process and gotten to paydirt.
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After we have followed up with everyone till we get the funding notice, celebrate a job well done, we must check in with the merchant to notify them they have been funded.* This helps close the current loop with the customer and also sets up the next sales (renewals and referrals for the future).
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We have put the merchant at ease and helped him/her greatly in achieving their goals/solving their problem/meeting their needs. *With close contact, there will very likely be more sales generated from this one funding.
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We must record the details of this funding and closed deal in our databse, whether this is a CRM or what have you.* This is crucial what gets measured gets managed.* Keeping track of what you are funding on a daily, weekly, monthly basis will motivate you, focus you and keep you hungry for what is possible. *It is also a reality check for gap analysis towards specific targets.
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The aim is to always improve life continuously expands and evolves.
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Time to tee up the next one.* Fund On!!
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-FundingStrategist
https://fundingstrat.com
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03-06-2019, 10:25 AM #2
- Join Date
- Dec 2013
- Posts
- 4,713
good stuff!
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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03-06-2019, 10:44 AM #3
- Join Date
- Mar 2017
- Location
- Nunya
- Posts
- 830
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03-06-2019, 10:45 AM #4
- Join Date
- Oct 2016
- Posts
- 4,318
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03-06-2019, 11:28 AM #5
- Join Date
- Dec 2013
- Posts
- 4,713
All good guys funding like crazy!! its beeen so busy march how about you guys ? ... with our adobesign we are knocking out final fundings at times hours after submission
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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03-06-2019, 11:30 AM #6
- Join Date
- Aug 2016
- Posts
- 830
Thats nice. Now can you answer this thread https://dailyfunder.com/showthread.p...-solutions-llc
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03-06-2019, 12:06 PM #7
- Join Date
- Oct 2013
- Location
- Designer
- Posts
- 591
That is absolutely hilarious.
As far as the original post, the steps are all correct but they need to be consolidated. In this microwave age, when you get a merchant on the phone you have to get as much of that work done as possible on the first and second call.
Your sales cycle and merchant conversion ratio takes so long because 89% of the time is spent chasing the merchant for trivial but necessary paperwork.
Plus it limits distractions and reduces competition when your first to the finish line, and it shows a higher level of seriousness to the merchant, like this is definitely the guy who is going to get it done now.
Www.UccRadar.com - Looking for unique industries, specific area codes, or missing biz dev guys, we got em.
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03-07-2019, 11:59 AM #8
- Join Date
- Aug 2018
- Posts
- 286
Thank you! You are exactly right, multiple Stages of the Sales Process can be arrived in one call.
The faster you can move through the stages of the Sales Process, the higher the probability you will make it to Stage 10 (Endzone/Funding) on each deal.
Higher effectiveness on each call to prompt the merchant to desired responses will reduce quantity of calls (thus speeding up the sales cycle) needed to get a deal funded.
Awesome stuff.
-FundingStrategist
https://fundingstrat.com
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03-07-2019, 09:33 PM #9
- Join Date
- May 2014
- Location
- California
- Posts
- 343
Good stuff by Franklin and FS!
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03-11-2019, 12:32 PM #10
- Join Date
- Aug 2018
- Posts
- 286
Thank you!
-FundingStrategist
https://fundingstrat.com
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03-12-2019, 04:54 PM #11
- Join Date
- Aug 2018
- Posts
- 286
Great stuff all around, thank you!
-FundingStrategist
https://fundingstrat.com
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