Sales Phase 10 - Key Step #3

[FundingStrategist]

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.



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 10 – The Funding Phase*



This Phase is the set of steps between Stage 9 and Stage 10. It is the last phase in the Sales Process.



*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!!*



Why is this important?



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.



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).



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.



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.



The aim is to always improve – life continuously expands and evolves.



Time to tee up the next one. Fund On!!





-FundingStrategist

https://fundingstrat.com