There’s a reason why you bring out the
big guns when you’re trying to close a big deal. While all your business
deals will ultimately bring value to your company, it’s those big deals
that can cause an explosive surge in your organization’s value and
enrich your portfolio.
Big business
deals involve far more people than your typical sale, and you’ll need to
pull out more resources to support the various people and processes
involved. And now that you’ve shifted your mindset to think big, ask
yourself: What do I have to do to close this deal?
Meet Them At Their Level
Big
business deals mean that you’re not the only one bringing out the crème
de la crème of your organization. They are too. So beyond having
all-hands-on-deck as you scramble to prepare to present to big clients,
you need to also think about who will be in the room during the
presentation.
Because big deals mean a
substantial amount of money is involved, you’ll most likely be dealing
with senior leaders from their organization who will be complemented by
trusted support such as advisors and maybe even lawyers. In turn, you
should also be prepared to match their senior people with your own.
Having
your own senior sales team, senior officers, and experts mean that you
want to ensure that the most productive conversation takes place that
can easily transition because all the decision-makers are already
present.
Speak Their Language
It
really pays to do your homework. And it pays even more to know your
audience. It’s been said that a good salesman can sell anything, even
ice to an eskimo. What’s not mentioned in that idiomatic expression is
how the salesman most likely went to the eskimo’s turf, talked to him in
terms he could understand, and related to him on a level that made him
feel as though his needs were being looked after.
And
this is why it’s important to do some investigative work on the people
with the decision-making power. When it comes to that moment when you’re
given your moment to shine, get straight to the point and give your
prospects what they need. They want to know how they benefit from this
deal. They want to hear that you’ve done your research, know their pain
points, and can offer them solutions.
Create a Sense of Urgency
Your
pitch should always end with a mild threat that there’s an expiration
date on your offer. While this isn’t always exactly true, encouraging a
verdict to happen sooner rather than later is better for everyone
involved. Quantify what a delay in decision could potentially cost them.
When
it comes to closing big deals, perhaps the most important thing to
remember is that your prospects are motivated by self-interest but on a
much larger scale. Unlike your typical sales, big deals involve a
substantial amount and high-profile stakeholders which also means a
considerable risk.
Besides, and in a
lot of ways it is easier to do things on a large scale. For one thing,
it takes just as much time to close a big deal as it does to close a
small one. You will endure as much stress and aggravation; you will have
all the same headaches and problems. It is easier though to finance a
big deal. Bankers would much rather lend money for a big project than
for a small insignificant one. If you succeed with the big project, you
stand to gain a lot more money and at the same time accelerate the
building of your brand in a much more significant way.
Now go and make a killing.
