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Closing Deals

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Until you close a deal, you have not sold.

In life, one thing separates winners from losers; it is success. Unfair as it may sound, no one ever gets a trophy for a great effort. What gets you a trophy is a closure.

Closing is different from selling. Some people sell so well they forget to close. Some even continue to sell long after the buyer is sold. The closure is the forte of the most experienced salespeople.

Here are a few principles in professional closure (From my new book Selling Value at Scale)

#1. Principle of Definitive Urgency

The customer will not always be eager to buy. The deal is only urgent when the customer considers it urgent. I have heard people say a few times that you can create urgency. With that in mind, it is precious to heighten the push when the customer is excited the most. When you get to that point, you stop selling and ask for the order.

#2. Deals Never Close, People Close Deals

Have you heard Newton’s First Law of Motion?

“All things continue in their state of rest until an impressed force acts on them”. Nowhere is Newton’s law more accurate than in sales. Deals do not close on their own. If a customer you sold ever calls you back on their own to bring the product something happened. It’s either a vendor blew them, or they raised the price or something. Many sellers believe that you should give the buyer enough information to make a decision and leave them to do so. Nothing can be further from the truth. The closure is your duty!

#3. Tell just enough

Top closers understand that every individual buyer is different and they treat them so. While some buyers require every information to make a decision, some are aware of what exactly they need before they come to you. They know the difference between the product and the competition. They know the price. They are sold. They need your account details. Why should you start selling that kind of a customer? It’s going to be a total waste of time. Professional closers know the value of this question: What exact things would you need to know to be able to make a choice?