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FundingStrategist
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Last Activity: 03-20-2019, 10:59 AM
Joined: 08-01-2018
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  • FundingStrategist
    started a topic "What's The Rate?!"

    "What's The Rate?!"

    Todd over at deBanked has written another great article. Among other great nuggets was a video of a couple executives doing some sales role playing.


    https://debanked.com/2019/03/linkedi...deals-dollars/


    Great video, watch the whole thing when you get a chance. One of the executives, Josh, shrewdly tests the other with the “what’s the rate?” question to try to stump him.


    https://www.youtube.com/watch?v=KheF...ature=youtu.be


    Merchants love to bottom line callers with this question to save time and weed out who they will and won’t speak to.



    We all know we can’t give someone their rates before the file is underwritten, but the question gets asked nonetheless - and we must answer it effectively to win business consistently.





    Josh asks the other executive, Chiren, who does a pretty good job in response: “I hang up...
    See more | Go to post

  • FundingStrategist
    started a topic Objection!! "We're Happy"

    Objection!! "We're Happy"

    https://fundingstrat.com/objection-were-happy/


    What does it sound like?



    “We are happy with who we’re with now.”



    Where does it typically tend to show up?



    Prospecting Call, making contact with a lead for the first time.



    What do we do with it?



    Turn around. Key Objective: to turn around the objection, engage the lead further, and continue to guide the lead through the sales process to ultimately close and fund!



    How do we turn around?



    “Great! What do they do really well?”



    Why do we say it?



    “Great!” disrupts the merchant’s pattern. Most people expect the sales rep to either immediately get defensive, try to shove their way into the communication and hard-close the person on why they should listen to them and buy from them – OR – more...
      What does it sound like?   “We are happy with who we’re with now.”   Where does it typically tend to show up?   Prospecting Call, making contact with a lead for the first time…
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  • FundingStrategist
    started a topic Sales Phase 10 - Key Step #3

    Sales Phase 10 - Key Step #3

    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 toget...
    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 P…
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  • FundingStrategist
    started a topic Optimizing Todd's Call

    Optimizing Todd's Call

    https://fundingstrat.com/optimizing-todds-call/


    This is a great article by Todd Stone at deBanked. In it, he describes trying his hand at his very first cold call.



    Todd is very good at what he does, journalism, which has many overlaps with sales. He demonstrates great effort on this first call, and makes it very clear in the article that this was an amateur attempt. There is no doubt that with more practice he can become a Funding Pro.



    We’re going to hone in on a few points of the call and highlight and optimize them for the benefit of everyone.



    Point 1: "And from my understanding, a sales call should sound urgent, without being too aggressive either. I knew I had to strike the right balance"



    Highlight: Todd is dead on here. A cold call must be urgent but not too aggressive, but what does this really mean?



    A healthy cold...
    While visiting the office of Excel Capital in Manhattan on a reporting assignment, I saw a few open desks. They weren’t exactly empty, just available. There were phones, headsets, and computers all set up, just waiting for a salesperson to sit down and plug in. I pictured the salespeople I’ve previously profiled, smiling & dialing, […]
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