#79: Closing The Deal At Every Stage

Read Time: 3 min

In today’s issue, I will discuss why closing does not happen at the end of a call, demo, or whatever else. Closing is a byproduct of all the steps that precede the close being executed correctly.

Founders often share with me on our intro call that their “so-called” good deals frequently ghost once they reach the bottom of the funnel (BOFU). This tells me they were not qualified correctly. Let me illustrate.

Let’s say I own a car dealership, and a young couple walks in ready to buy their first family car. They've done their homework and know what they need—something practical and economical. They’re thinking Honda or Toyota.

Instead of asking more about their needs, I take them straight to the Porsche section. I start selling them on the incredible performance, design, and how amazing it feels to drive a luxury sports SUV like a Porsche Cayenne.

The couple didn’t come in for a dream car. They came in for a family car. Maybe they love the Porsche, but it’s not economically feasible and doesn’t fit their needs. This is where I lose them, and this is why deals ghost.

Where did I go wrong? I tried to sell them without understanding them. I sold features instead of a solution, and because of that, the deal ghosts. I see this constantly in founder-led sales. Don’t do this. In this issue, I’ll teach how not to.

To sell well is to convince someone else to depart with resources—not to deprive that person but to leave them better off in the end.

~Daniel Pink

Let’s look at each step of the process, understand the goal, and close at each step.

Discovery

GOAL: To identify whether or not they have real needs/use cases they are trying to solve and how painful those use cases are. We’re looking for broken legs, not bum knees. In other words, if I have a bum knee, it sucks, but I can get around, but if I have a broken femur, I’m incapacitated. I need help immediately. We’re looking for broken legs. Pain infers intent. Intent is motivation to take action. If a prospect is not motivated, they’re more or less a casual browser, a window shopper— they’re not going to buy. They have to be in pain, which has to be high to pull deals across the finish line.

CLOSE: If they’re qualified, book the demo with a scheduled calendar invite. This is the close on the discovery.

Demo 

GOAL: Reiterate all the pain they shared with you on the discovery and then showcase how your product will get them to their desired goal and completely eradicate their problem(s). People are looking for a complete solution. If your product does not deliver a complete solution, often, this is enough to kill the deal. People want a solution, not relief.

CLOSE: If they’re qualified, book the scoping call with a scheduled calendar invite. This is the close on the demo.

Scoping Call

GOAL: Most founders are confused about this one. If you’re selling a piece of tech that is complex or requires a technical buyer and other stakeholders, they will never buy on a demo. Ever. The tech has to be validated, and it has to fit in with their existing tech stack. Before the tech can be validated, you need to understand what boxes need to be checked before they are a green light to move forward and buy it. This is what a scoping call is designed to accomplish. The success criteria they need to see, what their expectations are, and to have agreed upon benchmarks to gauge the success of the POC.

CLOSE: Book the POC go-live date. This is the close on the scoping call.

Proof of Concept (POC)

GOAL: Validate that your product can deliver on the benchmarks you both agreed upon on the scoping call.

CLOSE: To schedule the POC recap call to verify everything has been validated, benchmarks have been met, and the customer is prepared to move forward.

Recap / Pricing Call

GOAL: Review all the agreed-upon validation benchmarks, address any unforeseen issues not discussed during the POC, review pricing and contract terms, and close the deal.

CLOSE: Ask for the order. The close should be natural here. If all the preceding steps are executed correctly, they will almost close themselves.

You’ll notice I closed five times throughout this buying journey. Closing does not happen at the end of a call or a demo. It occurs throughout the process. It is a well-orchestrated illustration of how your product can deliver value, speed, and efficiency with little effort packaged at a price where the ROI over time is a no-brainer.

That’s it for today!

See you all next week.

Darren

P.S. If you’re interested in coaching, you can book a call with me here

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