What do you think is the most valuable asset that you have? Money? Your product? Your great team? All of these are very important, but in the busy and in times chaotic lives of most entrepreneurs, time is the most valuable asset.
You can always raise more money, always improve your product, and do your best to retain your most valuable employees, but you are unable to get more than 24 hours a day.
Valuing your time should be a priority. The best way to do so is to evaluate the processes you spend your time on. There are so many things that you do when it comes to running a business – from product development through marketing and sales to pitching investors and negotiation terms-, so make sure that you execute them effectively and efficiently.
One of the most important processes in business is making sales. Entrepreneurs spend many hours on identifying sales opportunities, reaching out to new prospects, negotiation and closing deals and so on. Optimizing the sales process is important. But the good news is that you can make it shorter, simpler and ultimately better.
Learning how to close deals faster will give you an advantage over the competition. You will be able to move forward faster. Shortening the sales cycle may seem as mission impossible, but it actually isn’t. It takes time and requires focus. There are ways that can help you get there, like the following four:
Prepare the perfect offer – do your research in order to know exactly what your clients want. By understanding their motivators for making a purchase, you will be able to make them an offer they can’t refuse. You will save a lot of time figuring out the details of the deal if you are not prepared. And always remember, leave some room for negotiation.
Talk to the right people – don’t waste your time to deliver the perfect sales pitch in front of a person, who can’t close the deal. They may love your offer, but if the actual purchase isn’t their call to make, you are just wasting valuable time. Talk to the decision-makers, the people, who actually can say Yes! to your offer.
Create a sense of urgency – put a deadline on your offer, but make sure you do it with style. You don’t want your clients to feel pressured into accepting the offer, do you? The approach of setting a deadline gives the sense of exclusiveness to your offer and the feeling that you are presenting them with one-of-a-kind opportunity.
Sense the close – many entrepreneurs don’t sense the close. They continue pitching long after the client has made their decision. You will be surprised to see how much time you will save if you periodically check for the close. This will help you to never prolong a deal that is already done.