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When to use it?
In response to an objection the merchant has about a specific feature of the Approval terms.
What does it sound like?
Merchant:“Can we get this (insert terms feature) changed?”
Funding Pro:“If I can get this (terms feature) item handled, are you ready to move forward today?”
Ex.
“Can we get this origination fee reduced?”
“If I can get this origination fee item handled, are you ready to move forward today?”
How it works?
After describing terms and using the Utility Close, the merchant will often start nitpicking at certain features of the product terms.
Maybe they want a longer term, a lower rate, a higher amount, a lower payment, prepay discounts, a different payment schedule, no origination fee, the list goes on…
These objections (preferences/needs) must be isolated and handled to get the merchant the best fit for their Key Business Outcome, and move them forward through the Sales Process and Fund.
Once you’ve done a great job isolating what really matters to the merchant, what is truly a need (and not just a preference), expect the merchant to make the ask.
They are going to make the ask!
They will want you/Underwriting to make the concession.
Before you agree you do it, or go to bat for them – you must pull them in tighter with your own ask. This is a great opportunity.
Make the ask!!
“If I can get this origination fee item handled, are you ready to move forward today?”
Why it works?
Everything you say and do within the Sales Processis to purposefully shorten the sales cycle and lead the merchant to Funding in the most efficient way possible.
Expect there will be objections and requests for concessions and exceptions on the path to that FUNDED notice.
If you sit back and field these requests without a mechanism to pull the merchant in tighter, you could lose precious time being shopped and haggled bare, AND lose the deal!
The Sharp Angle Closeallows you to ask for a tradeoff in response to the merchant’s request.
This strategic question gives you the opportunity to hear the verbal and nonverbal cues in the merchant’s response.
If you get a yes without hesitation, more often than not, you are close to sealing the deal (although you will have practiced negotiators who can head fake you as well).
If you get hesitation or a flat out no, there are more concerns to flesh out before moving to get this concession done for them.
This close will give a great indication on whether the merchant is serious at this present time or not – where you both really are in the Sales Process.
To get to where you ultimately want to go, you constantly need to know where you really are against that destination.
Put the Sharp Angle Close to work and Fund On!
-FundingStrategist
https://fundingstrat.com
https://fundingstrat.com/the-sharp-a...-why-it-works/
In response to an objection the merchant has about a specific feature of the Approval terms.
What does it sound like?
Merchant:“Can we get this (insert terms feature) changed?”
Funding Pro:“If I can get this (terms feature) item handled, are you ready to move forward today?”
Ex.
“Can we get this origination fee reduced?”
“If I can get this origination fee item handled, are you ready to move forward today?”
How it works?
After describing terms and using the Utility Close, the merchant will often start nitpicking at certain features of the product terms.
Maybe they want a longer term, a lower rate, a higher amount, a lower payment, prepay discounts, a different payment schedule, no origination fee, the list goes on…
These objections (preferences/needs) must be isolated and handled to get the merchant the best fit for their Key Business Outcome, and move them forward through the Sales Process and Fund.
Once you’ve done a great job isolating what really matters to the merchant, what is truly a need (and not just a preference), expect the merchant to make the ask.
They are going to make the ask!
They will want you/Underwriting to make the concession.
Before you agree you do it, or go to bat for them – you must pull them in tighter with your own ask. This is a great opportunity.
Make the ask!!
“If I can get this origination fee item handled, are you ready to move forward today?”
Why it works?
Everything you say and do within the Sales Processis to purposefully shorten the sales cycle and lead the merchant to Funding in the most efficient way possible.
Expect there will be objections and requests for concessions and exceptions on the path to that FUNDED notice.
If you sit back and field these requests without a mechanism to pull the merchant in tighter, you could lose precious time being shopped and haggled bare, AND lose the deal!
The Sharp Angle Closeallows you to ask for a tradeoff in response to the merchant’s request.
This strategic question gives you the opportunity to hear the verbal and nonverbal cues in the merchant’s response.
If you get a yes without hesitation, more often than not, you are close to sealing the deal (although you will have practiced negotiators who can head fake you as well).
If you get hesitation or a flat out no, there are more concerns to flesh out before moving to get this concession done for them.
This close will give a great indication on whether the merchant is serious at this present time or not – where you both really are in the Sales Process.
To get to where you ultimately want to go, you constantly need to know where you really are against that destination.
Put the Sharp Angle Close to work and Fund On!
-FundingStrategist
https://fundingstrat.com
https://fundingstrat.com/the-sharp-a...-why-it-works/
