Explore the phases of sales cycle for Finance

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hey guys what's up matt here uh this is a different episode of uh closers or losers because jeremy's not here he's sick so it's just me today this is going to be a short one but what i wanted to do is i wanted to take you through the any pq process so i know that we talk about it we obviously coach it and if you go to uh sales revolution dot pro says revision dot pro and you can go through we can teach you more about it but we wanted to kind of break down in my terms of someone who's been a student and someone who now runs the company uh what is nepq [Music] so it stands for neuro-emotional persuasion questioning and uh basically it is a sales methodology which can be applied to all industries and that's kind of the unique part about it is it is like it is industry agnostic we have literally testimonials from uh like seven or eight thousand sales reps over like 150 different industries um ranging from everything from selling pools to selling high ticket coaching services to selling solar to selling merchant processing debt relief services cars boats you name it um and so why can it be i guess ubiquitously translated across all of these different industries and the reason is because it's not like a not a trick it's just a method of like getting the answers that you require to make a sale there are a couple of fundamental things that everybody needs in order to make a sale and the first one is going to be you have to understand what it is they're looking for what it is they want and that's what the connection phase is all about what do they want right now because every single product or service or business is there to solve a problem it either solves a problem or fulfills an emotional need that is what businesses do right apple solves a problem fulfills an emotional need tesla solves a problem fulfills an emotional need your business or the business that you work for solves a problem and and or fulfills an emotional need right so essentially there's a problem that needs solving therefore there's an outcome in which they want okay so that's what the connection phase is all about um and then from there it's like well if they have an outcome that they want we need to understand what it is they're currently doing about it which is what the situation faces right so what are you currently doing about the thing in which you want and again there are more questions around that however like fundamentally that is what we're looking for okay um the next thing that we're looking for is like well like if this is what you want and this is what you're doing about it what are the problems that you're currently facing okay which is preventing you from getting the thing in which you want so what are the problems how long has it been a problem what's causing the problem and what kind of impact is that problem having all right so once we understand these things then it's like we can start to put the pieces together right and like you might do uh medical device sales where you have a three-month sales cycle or a six-month sales cycle right so you might the the connection phase might be your first interaction then a month later you might go deep into situation a month later you might go deep into that problem awareness phase right um or you might be doing a high ticket sale where you're selling something for ten thousand dollars you're selling it in an hour right off of one call close and you're doing the entire process at once so once we have an understanding of um once we have an understanding of the problem what's causing the problem how long has it been what impact isn't having then from there it's like well okay well let's say you're able to solve these problems like what would you want to get out of it like what is like what is the payoff for you and and not only is what is the payoff for you but what is the payoff for you in two distinct ways the first being emotional and the other one being tangible and so it's like you know if i want to provide a better if i want to have access to better medication so that i can give my patients if i'm a doctor a better experience and help increase their livelihood and all that kind of good stuff like that is a tangible benefit which gives me an emotional benefit of being able to be a good doctor and have that feeling and being able to like i'm sort of taking care of people right so i get i get i have a fulfillment of both tangible and emotional if i'm buying a car same thing i fulfill the tangible requirement of having a car but there's an emotional thing where it's like i have a car that i'm proud of or i have a car that is safe for my family whatever it may be every single product or service fulfills either and like that that tangible and also emotional need even credit processing like what would you know what would it be like if you were able to save you know 1.2 percent every single month like what would you do with that type of extra cash coming in oh man i could pay bonuses to my staff i could go on holiday et cetera like there are significant benefits to the service in which you provide or the product in which you sell okay so we have to understand those there's a few more around solution awareness but that's the real basic nuts and guts of it then from there we go into consequence right there is no urgency without consequence so what we're looking for is we're looking for the day-to-day ramifications of not solving the problem and no achieving the solution and this is where like a lot of salespeople this is in my opinion where uh the wheat from the chaff is separated because sales people that are uncomfortable asking um that are uncomfortable asking consequence questions are not going to be ultimately that successful um because discomfort is part of sales like asking difficult and uncomfortable questions is one of the things that separates very high level sales people from non-high-level sales people and so consequence is a way in which you build urgency so what we want to do is we don't want to pressure people at all we want to kind of like we want to get the wheels moving forward mentally of what their potential solutions look like for them on both the tangible and emotional level what their how their problems tie in but then we want to on on the other side we want to kind of crank it it's like what happens if those are never achieved what happens if you are not had to provide the highest level medical care for your your patients like what are the day-to-day ramifications of that it's like well i might lose a patient are you willing to settle for that okay no you're not right so you know you're looking for that real tangible like if people are more than happy to kind of explore the good but we also want them to explore the bad and that's how we create tension uh internally and that that drives urgency for somebody to want to make a sale right and again you guys can find out more in-depth training about this at sales revolution.pro you can also go to our website seventhlevelhq.com right um but then once we get it from there then we wanna get commitment so now we're gonna go through commitment questions okay and it's like well like are you sure like you like you want to be doing this because you know are you really ready to start making some changes and putting yourself in a position to where you can provide x or is this really not the right time you know and the reason why i ask it that way is because like i want people to push back on me and go no now is the time i am ready i want to do something about this okay cowboy that's fine right so it's it's it's working with human behavior and not against it then from there we go into our presentation phase now the real difference i think between ndpq and a lot of other methodologies is the presentation is quite short it's no more than about ten percent of the entire length of the sales cycle so if you're doing a large b2b enterprise offering where you have you know five or six calls that go for an hour long each then like you might have a 30 to 40 minute presentation but if you have a 60 minute call your presentation should be about five to seven minutes right it's because it's very difficult to kind of carry that emotional crescendo on moving forward whereas enterprise level like there's like less emotion involved um and there's more stakeholders involved and you probably need there's more legal reasons as to why you need more detail but if you're selling especially b2c short and sharp because like you know nobody wants to watch a powerpoint presentation for 20 minutes like you just you lose all the ground in which you've gained emotionally and all that urgency is gone right which is one of the reasons why we advocate for short and very concise presentation phases which allow us to translate the important parts of the product or service onto the onto the person without kind of like overloading them with information more information is not always better people don't necessarily make better decisions given more information all right so um i wanted to get on here today and you know jeremy's away i know you guys want to hear jeremy spit hot fire but kind of give my interpretation of what any pq is and why i think it's so industry agnostic so um you guys want to check out more of this stuff go to sales revolution.pro make sure you like subscribe if you're watching this on youtube all that kind of good stuff i know this is a nice short short video but i want to get on here and help you guys out let me know if you find that helpful and we will see you guys when jeremy's back on the next episode hey guys if you enjoyed this here's another you can watch right over here right over here join our free sales revolution group click the link below join us and we're going to help you thanks for watching we'll see you real soon