Business deals can be done in any environment or location. However, it takes those who know the do’s to seal up a business deal successfully.
Here are 10 things to equip readers for ensuring every deal that comes their way is sealed and to have even more deals via the same customer.
1. Understand the Deal
The advice to ‘know what you’re getting yourself into’ holds true in business deals, much more than many take it. Before you finally agree to a deal, first understand the terms and what your role actually is. Be open and honest from the first instance, understand what your customer expects of you and establish if you can deliver it or not.
You save the two of you heartaches when you ask the right questions and get your facts straight!
2. Know Your Customer Well
The dealer is as important as the deal. Know who your customer is; their need, problem, the point they currently are and where they desire to get to. Research them on social media, search engines or read their company literature.
3. Identify the Problem
With your knowledge of your customer, you can identify their problems or the results they are not getting and then, propose an offer that can deliver their desired results.
4. Be the Problem-solver
Present your offer as the right solution to your customer. For instance, a man whose car battery died does not need to buy a new car, what he needs is to have his battery fixed. So, present your offer as a solution not a suggestion of a new option which may not actually solve the problem.
5. Ask for the Deal
Don’t assume that your offer is accepted, ask for the deal. Call your customer to take action; include it in your written proposal or your conversation. Say if you want them to call you, reply your mail or set up a meeting. Never let your customer go with the prospect of a solution alone, you proffered the solution and you are the best man to deliver, so, take it.
6. Negotiate the Scope of Your Offer, Not Your Rates
When it comes to pricing your services, always hold fast to your prices. It is a sure way to establish your professionalism. Rather than reduce the price, offer your customer a narrower scope of the project. Almost everyone who asks for a lower rate will pay what you originally quoted, so, always stand your ground.
7. Speak and Write Agreements
Sure, deals can be sealed with a handshake and “thank you”, but keep written records too. Match your verbal agreements with written and share with your customer.
It is not only to help clear out the misunderstanding in the future but also for records and reference sake.
8. Put Your Charm On
At physical meetings with your customer, be remarkable in your verbal and non-verbal communication. Dress the part and be punctual. Put your smile on and show empathy in understanding your customer’s needs and how you can help them get to where they desire. Show them what the benefits of your offer are, and not some new features that you are forcing down their throat.
9. Deliver Promised Value
If you fail on lessons #1 and #2, it may be difficult to deliver on your end of the deal because there may be different expectations to what you have promised. After you settle the terms of the deal, make sure to come through on what you promise.
You may want to over deliver on what you promise as a token of good measure but be careful not to end up devaluing your offer and have the opposite impact. Whatever you do, don’t under deliver, always deliver.
10. Do it Again
Successfully closing deals is a skill that you can develop. Keep notes of each deal you seal and recreate the process for new deals, making few adjustments as need be. Keep this up and soon, you’ll master the art.
So, there you have it. As you know, deal-making is central to business; mastering these tips will help you to seal up better deals.