As the year winds down, we are all focusing on how we can bring in deals to meet quota or to overachieve so we can hit accelerators.
What is the key to achieving these goals? It’s all about qualification!!
Can you answer the following questions?
- Are your deals qualified?
- How can you effectively test your deals to ensure they are qualified?
To ensure your deals are qualified you should try this simple test:
- Is your key contact, coach or sponsor prepared to articulate your solution to the decision maker without you being present?
- Are you confident that they can clearly explain why your solution is the best choice for their organization?
A key component in the ValueSelling framework focuses on analyzing and determining if a deal is qualified. We determine this by asking a series of questions centered around four key components:
1. Do you have a Differentiated VisionMatch
- Does your solution solve problems for the Power Person?
- When resolved, will it help them achieve their Goal or Objective?
- We call the goal or objective a Business Issue.
- Are you unique in some way – not in capabilities – no one cares – but do you solve problems which are important to the prospect that your competitors can’t?
2. Have you uncovered Value
- Can they justify the spend?
- Does the business impact offset the investment?
- Do we know the Personal Value?
3. Have you identified the Power
- Do we have alignment with ALL the key players?
- Meaning for each one – could we articulate their number one objective and how we solve the problems and whose resolution will help them obtain their objectives? (VMD for everyone – NOT the same VMD for all.) We all know what happens if we don’t align.
4. Have you outlined a Plan
- Do we have a Mutual Plan agreed to in writing?
- Is the contract executing in this current quarter?
- Does the plan outline the next steps beyond the contract to value realization?
If you have answered no to any of the components above, your deal is NOT qualified!! You should immediately begin working to get these answers identified and solved. If you are successful in answering and outlining the components of the ValueSelling framework, you not only have a qualified opportunity, you will meet your quota and hit accelerators by the end of the year!