Big deal makers are relationship and time conscious. They always seek to reach a mutually beneficial deal that can strengthen their relationships. Also, they give time the top priority because most clients are sensitive to it. So in any sales process, the big deal makers are always looking to simplify and shorten it.
They close the deal by getting the prospect to take action. There should be a mutually agreeable exchange of values. This is where many deal makers go wrong. They become uncomfortable, freak out, and panic. This indicates that they don’t know what they are doing. And, it blows the big deal.
Highly successful big deal makers use secret steps to close deals quickly and more profitable. They find out who the client is, what they want to purchase, why they need to purchase it, and how to fulfill or meet that need.
If you want to close big deals faster this is how to go about it.
Build a pipeline- Prospecting
Generate a list of the prospects you want to do business with. Then conduct thorough research to find out what their needs are and what troubles them most. Armed with these insights, create a proposal that clearly outlines how you can solve their problems quickly and in a cost effective manner.
Also, create a channel to generate opportunities. In the beginning, you may have to take every meeting and even less paying deals. This will offer you a chance to showcase your product or services and highlight how you add value to the clients.
This will give you contacts and creates relationships, and big deal players will soon notice. And, that is half the work.
Quality communication
To get people to trust you, communicate in a clear and confident manner. Trust is the key to making a deal of whatever size. Learn how to smile with people in any situation. So smile as you meet the prospect, as you make your presentation, negotiate, smooth out objections, and while closing the deal!
Also, always be positive no matter how the prospect responds. Learn to take it easy and keep things light, smile! Giving in to negativity, whether it’s yours or the customer’s may jeopardize the deal. So it is important to have a confident, can do attitude during the negotiations.
Prioritize relationships
Highly successful entrepreneurs know that the process begins before the deal. In fact, negotiating and closing the deal is only a small portion of the entire process. So build relationships and get into deals with people you know. Also, you can create situations to help you to know them first.
This is important because it creates the empathy and trust necessary to start the negotiations. Always be mindful of the relationship during the whole process, no matter how tough the negotiations turn out to be.
Negotiate
Communicate your intentions up front, let the other party know what you want to achieve. Also, it will help to state your price before you make your presentation. This will give you enough time to demonstrate and explain why your product or service has that tag.
However, it is a bad sign if the prospect accepts your initial offer. It may mean you didn’t negotiate well. Also, don’t get upset or discouraged if the prospect turns down your opening offer. It gives you an opportunity to build your case, strengthen the relationship and close the deal.
The art of the deal, learn and practice it
Highly successful deal makers know that big deals come around once in a while. Also, it takes time to work out a mutually beneficial contract. So they are willing to walk away if their core terms and conditions cannot be met.
Remember that the deal will only be good if you achieve your objectives. There is no point closing a deal that will not add to your bottom line. Focus on creating a win-win situation for all parties involved. And this applies across the board.
For instance, you want to secure a short term loan. You will research the market to find out which lender provides the credit loan at the most competitive terms, rates, and charges. Otherwise, you risk getting an expensive loan and fall into debt for the broker to earn his commission! Look for the best deals from trustworthy lenders.
Parting shot
The art of closing the big deal is finding out who the client is, what they want to purchase, why they need to purchase it, and how you can fulfill or meet that need. Your ultimate goal is to complete the transaction and create a long term relationship. That means you want to get the prospect to take action. They should give you something of value in exchange for what they value.