Have The Money Conversation Before You Present

Determine potential clients' budget early on in the process.
Dec 1, 2015
Jim Wilcox
Have The Money Conversation Before You Present

Has this ever happened to you? You’ve had a series of great discussions with a prospect, taken lots of notes and developed a killer presentation. You start delivering that presentation and get positive signals from the prospect indicating you are going to gain their business. Then you get to the final slide, the slide that everything else was supposed to justify—the price. And all at once the positive signals stop cold.

The meeting ends without a commitment and you are left without any timeline and the deal eventually dies.

What happened? You made a classic mistake. You saved the money discussion for last and it derailed you. Consider HAVING THE MONEY CONVERSATION BEFORE YOU PRESENT.

You need to determine if they are willing and able to exchange their dollars for your product or service. It just doesn’t make sense to save that for the final slide of your presentation. Doing so only produces the perfect opportunity for a “let me think it over” moment.

Many salespeople feel uncomfortable discussing money issues with prospects and clients. They get this by and large from early childhood messages suggesting that it is not appropriate to talk about money. Can you remember your parents telling you that it is not polite to ask someone how much money he or she earns or how much something costs? Were you taught that money was the root of all evil or that it was dirty? It’s these messages in our head that hold us back from having a good money/budget conversation.

Consider asking permission to talk budget well ahead of the presentation meeting. For example: “Before I come back to present, would it make sense to take a minute and talk about budget?” You’ll be amazed at what this unassuming question will do for your ability to uncover what a prospect is really willing and able to spend.

About The Author

Jim Wilcox, Wilcox & Associates, Sandler Training

(574) 320-7360, wilcox.sandler.com

Lake City Bank - Automated

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