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09-18-2019, 12:03 PM #1
- Join Date
- Aug 2018
- Posts
- 286
Sales Phase 8 - Key Step #1
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.
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.
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!
*Phase 8 The Contract Reeling-in In Phase*
This Phase is the set of steps between Stage 7 and Stage 8.
*Key Step #1: Confirm they received the contract and answer any questions they have*
Why is this important?
As soon as the contract has been sent out, it is time to reach out to the merchant to confirm they received it. Now is not the time for the merchant to go dark on you, especially with all the work in getting them this far in the Sales Process.
Keep them tight to the hip by asking them to make sure all the pages/attachments came through - this will insure they pause and really take a moment to look through everything. This would be the best time for the merchant to sign and get them back to you asap so you can finish everything up for them and fund.
Suggest that if they have any questions or concerns now is a great time to go over the language of the contract with them so that you can address them all and they can continue to move forward smoothly.
You've done a great job consulting them through and selling the terms of the approval you just contracted so at this stage they should just have to sign and continue to take your lead on what needs to be done to fund.
-FundingStrategist
https://fundingstrat.com
https://fundingstrat.com/sales-phase-8-key-step-1/
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09-18-2019, 12:17 PM #2
- Join Date
- May 2014
- Location
- California
- Posts
- 341
Thank you.
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09-19-2019, 11:45 AM #3
- Join Date
- Aug 2018
- Posts
- 286
You are very welcome!
-FundingStrategist
https://fundingstrat.com
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