Will You Get the Deal Closed? Check Out This Checklist
As an entrepreneur or a successful salesperson you sometimes wonder whether you will close a deal or whether you are wasting your time in pursuing a deal. This 5-point checklist will discuss how to know whether a deal will eventually close and help you to only pursue the deals that will benefit your business:
1.Does The Client Have a Genuine Need?
Some clients are just “window shopping” when they agree to a meeting with you, therefore, it is important to evaluate whether the client has a genuine need.
To evaluate the need, you can look at the business as a whole and ask yourself;
- Does the client really need the product?
- Is the business structured to accommodate the need? or
- Will it require a big transformation to accommodate the need?
2.Does Your Product Meet Their Need?
If your client has a genuine need, the next step is to evaluate whether your product effectively meets that need. A client will likely purchase from you if you tick all the boxes of their need.
The boxes that need to be ticked are quality, price, resources and availability. Make an estimate on whether you have ticked all those boxes; if yes, you are likely to close the deal.
3.Does the Client Problem Require Urgent Attention?
A client might have a need, but the need might not require urgent attention. The client might be looking to purchase the product in the distant future, leaving you with an uncertain deal.
It is important to probe the client and elicit the timeframe for the need. If the need is not urgent it would be wise to make a note and focus on other deals.
4.How Many Meetings Have You Had?
If you are attending meeting after meeting with no real progress, chances are that you will not close the deal. A lot of times sales people are given false hope with endless meetings that do not go anywhere. If the client is genuinely buying into you they will close a deal within the first few meetings.
The number of meetings necessary to close a deal can only be determined by you. Factors influencing this are the number of players involved, the size of the business and the costs involved.
Evaluate each meeting that has passed by clearly and cut-off at a certain number.
5.Who Are You Talking to?
Note who you have been meeting with and talking to throughout the process. If you have only been meeting with non-decision makers, chances are that you will not close the deal.
The tell-tale sign that a deal is going to close is if you meet the decision makers quite early in the process. This demonstrates that the client has a genuine interest in doing business with you.
Many times we have false senses that a deal is going to close; we rely on instincts which are not always a true representation of the situation. In the end, we can never be truly certain that a deal will close, however, using the 5-point checklist in the middle of each deal can assist you to avoid disappointment!