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How to Shorten Your Sales Cycle and Close More Clients Faster · Profit Points Podcast

• 0:15
  SPEAKER_00: Not just survive it, but genuinely get it.
• 0:18
  SPEAKER_00: You're in the right place.
• 0:20
  SPEAKER_00: Every episode covers one concept, uses real numbers, and ends with something you can actually do.
• 0:26
  SPEAKER_00: That's the deal.
• 0:27
  SPEAKER_00: Let's talk about today's topic.
• 0:31
  SPEAKER_00: Most CEOs think they have a lead problem, but they really have is a sales cycle problem.
• 0:38
  SPEAKER_00: The longer your sales cycle, the more leads fall off, and the more profit you leave on the table.
• 0:45
  SPEAKER_00: Today we're talking about the small tweaks that help you shorten your sales cycle, increase conversions, and get to yes faster without feeling pushy.
• 0:56
  SPEAKER_00: Hi, I'm Megan, CEO and founder of Sidekick Accounting, your accounting sidekick, and welcome back to the Profit Points podcast, where we break down the areas in your business that directly affect your profit.
• 1:10
  SPEAKER_00: I feel like this has been a big pain point for this year.
• 1:15
  SPEAKER_00: For myself and many of my colleagues, we have observed that the sales cycle is just longer than it has been in the past.
• 1:23
  SPEAKER_00: So I thought this would be the perfect conversation to address that and maybe help bridge the gap you may be experiencing a little bit quicker.
• 1:32
  SPEAKER_00: So if you find yourself doing endless follow-ups or waiting weeks for someone to make a decision, your sales cycle is probably too long.
• 1:42
  SPEAKER_00: And it's not because your prospects are flaky, but it's because generally they don't have enough clarity or momentum to move forward.
• 1:53
  SPEAKER_00: A longer sales cycle costs you time, it costs you energy.
• 1:58
  SPEAKER_00: I know those follow-ups can be so exhausting.
• 2:01
  SPEAKER_00: It can dig into your confidence, right?
• 2:03
  SPEAKER_00: If you're constantly having conversations and you're not hearing a yes, it wears on you, right?
• 2:10
  SPEAKER_00: And it also costs you a lot of profit because time is money, right?
• 2:15
  SPEAKER_00: So I want to share with you three secrets to shortening the sales cycle and getting to yes quicker.
• 2:22
  SPEAKER_00: So, secret number one is to pre-qualify before you pitch.
• 2:27
  SPEAKER_00: If you have a calendar link that people can go on or a form that they can go on and schedule, you can add questions into that process.
• 2:38
  SPEAKER_00: Most long sales cycles start because you're talking to the wrong people.
• 2:43
  SPEAKER_00: Pre-qualifying isn't about cutting people out, it's about getting the right people into a meaningful conversation quicker.
• 2:51
  SPEAKER_00: So, some examples of some things you can add to your booking form.
• 2:56
  SPEAKER_00: Um, their quick qualifiers, things like budget range.
• 3:00
  SPEAKER_00: What is what is their budget, you know, for this?
• 3:03
  SPEAKER_00: Have they ever worked with a professional like you before?
• 3:07
  SPEAKER_00: Timeline.
• 3:08
  SPEAKER_00: How quickly do they want to move and have this resolution?
• 3:12
  SPEAKER_00: You can also ask questions related to figuring out what their existing problems are, pain points that they may be experiencing.
• 3:20
  SPEAKER_00: Ask about desired outcomes.
• 3:23
  SPEAKER_00: What are they hoping to uh achieve?
• 3:25
  SPEAKER_00: And you can have some of those frequent questions or frequent answers, right?
• 3:29
  SPEAKER_00: Make these multiple choice so that people can just pick one that resonates with them.
• 3:33
  SPEAKER_00: And then finally, revenue size.
• 3:36
  SPEAKER_00: What kind of business are you trying to work with?
• 3:38
  SPEAKER_00: I know for us, most of our clients fall between 100,000 and 3 million when it comes to our bookkeeping and coaching services.
• 3:45
  SPEAKER_00: So those are the ranges that you want to explore and put out there so that you can get an idea where they are and make sure that it's in alignment with who you're actually wanting to talk to.
• 3:56
  SPEAKER_00: So think about that.
• 3:58
  SPEAKER_00: Think about three qualifying questions to add to your booking form this week.
• 4:04
  SPEAKER_00: All right, secret number two: start strong with a clear first conversation.
• 4:13
  SPEAKER_00: Confusion kills conversion.
• 4:16
  SPEAKER_00: If a buyer is confused, they're not going to buy.
• 4:21
  SPEAKER_00: Your first call should answer their biggest questions before they even ask it.
• 4:27
  SPEAKER_00: Common things prospects generally want to hear or are thinking about are to have you answer here's what we solve, here's how we work, here's what outcomes you can expect.
• 4:41
  SPEAKER_00: Having those things gives them clarity to all of the big pieces that are needed for them to move forward.
• 4:48
  SPEAKER_00: And if you haven't sat down and put together a sales script, now just might be that time.
• 4:55
  SPEAKER_00: Take a look at experts who focus on sales coaching or consulting.
• 4:59
  SPEAKER_00: A lot of them have really great free resources that you can use to learn more about your sales style and have a base script or outline that can help you cover all the areas that you need to address, ask the right questions, and then wrap the conversation up so that more effectively to set it up for the sale.
• 5:20
  SPEAKER_00: Having a script isn't doesn't have to feel cookie cutter.
• 5:24
  SPEAKER_00: You can really customize it in the conversation, but having like an outline or bullet points of these are the things that I need to cover every time, not only helps you not have to think as hard, right?
• 5:36
  SPEAKER_00: Like we want to take away some of that decision fatigue as CEOs, having that is helpful.
• 5:42
  SPEAKER_00: And then also, too, in the future, then you'll be able to delegate.
• 5:55
  SPEAKER_00: So this is something that honestly I've had I've had a hard time with myself, uh, even being in business as long as I have been.
• 6:04
  SPEAKER_00: It's been almost 12 years, and I'm still working on refining this process, especially this year, because it just has changed so much.
• 6:12
  SPEAKER_00: And people are looking for more of the relationship and more of transparency and clarity before they say yes to something that they're gonna invest in.
• 6:22
  SPEAKER_00: So say, take some time, think about the conversations that you have.
• 6:25
  SPEAKER_00: What are the frequently asked questions, what are the frequent things that come up, and maybe start putting a little bit more time and effort into this piece of it, especially if you've been the only one doing sales.
• 6:38
  SPEAKER_00: All right, secret number three follow-up is a system, not a personality trait.
• 6:44
  SPEAKER_00: So the number one reason prospects don't convert is often because they forget.
• 6:51
  SPEAKER_00: The I was trying to think of what the saying was, but it's eluding me.
• 6:54
  SPEAKER_00: But basically, the the the sale is in the follow-up, like you have your more even like having some kind of follow-up process in the long haul is gonna help you get more sales in general, and it's where a lot of people miss it.
• 7:11
  SPEAKER_00: So if you can get this part set up properly, most likely your conversions are gonna increase, anyways, because you're having a better follow-up system.
• 7:20
  SPEAKER_00: How many of you can say that you've really not done a great job in following up in the past?
• 7:25
  SPEAKER_00: I know I definitely can say that myself.
• 7:29
  SPEAKER_00: And you have to kind of shift a little bit.
• 7:31
  SPEAKER_00: Following up isn't nagging, it's leadership.
• 7:34
  SPEAKER_00: You're guiding them toward the decision they told you they wanted to make, right?
• 7:40
  SPEAKER_00: Because if they booked a call, that means there was something that drew them there.
• 7:43
  SPEAKER_00: And that can even be one of the questions you ask in your sales process, like what led you to having this conversation today?
• 7:50
  SPEAKER_00: Because then you can kind of gauge urgency if they're actually there to buy or if they're just kind of exploring as well.
• 7:57
  SPEAKER_00: Okay, so some tips to help with the follow-up process.
• 8:01
  SPEAKER_00: Send a recap within 24 hours.
• 8:05
  SPEAKER_00: And by the way, you can like automate that to some extent.
• 8:08
  SPEAKER_00: So definitely take a look at what your CRM offers in terms of that.
• 8:12
  SPEAKER_00: Um, give them two to three clear next steps, and then follow up at least three times minimum.
• 8:19
  SPEAKER_00: You want to make the process easy.
• 8:22
  SPEAKER_00: So do you have a link to a schedule, a link to an invoice, a link to a landing page, a link to the next step, whatever it might be.
• 8:29
  SPEAKER_00: What is that next step after that conversation?
• 8:31
  SPEAKER_00: Is it another call?
• 8:33
  SPEAKER_00: Is it, you know, getting started, whatever it might be?
• 8:36
  SPEAKER_00: Like, think about what that next step is and shorten that process too.
• 8:40
  SPEAKER_00: I know that's one thing that we're kind of doing a little bit differently now is like when we have a sales call and people say yes, we're gonna have them pay the first month right away on the call, because it just kind of helps put that urgency in place and there's no delay because sometimes that's what it is, and people talk themselves out of it, even though they know they need it.
• 9:00
  SPEAKER_00: So think about how you can maybe shorten that process of the follow-up in the next step as well.
• 9:06
  SPEAKER_00: Um, okay, so one quick win that you can take is create one follow-up template and send it today to a prospect who's gone quiet.
• 9:15
  SPEAKER_00: So think about somebody you've talked to really recently, hasn't responded back.
• 9:19
  SPEAKER_00: What follow-up message can you send to them that you can template for other follow-ups as well?
• 9:26
  SPEAKER_00: All right, so thing to keep in mind is that speed equals safety.
• 9:31
  SPEAKER_00: So people buy when they feel safe and supported.
• 9:35
  SPEAKER_00: When your process is smooth, predictable, and clear, people trust you faster.
• 9:43
  SPEAKER_00: I had a client who was getting great at getting leads, but was terrible at converting them because the process that she had in place dragged on for weeks.
• 9:54
  SPEAKER_00: She would send the proposals and then wait and wait and wait.
• 9:58
  SPEAKER_00: She didn't want to feel like she was a bother, she didn't want to push.
• 10:02
  SPEAKER_00: Um, but she was able to tighten her sales cycle.
• 10:06
  SPEAKER_00: She did so, she did the pre-qualifying leads that we talked about.
• 10:10
  SPEAKER_00: She set up very clear next steps in the process, and then she started sending same-day recap emails.
• 10:18
  SPEAKER_00: So after her call, she would send a recap email.
• 10:21
  SPEAKER_00: And within 60 days, her close rate jumped from 20% to 45%.
• 10:26
  SPEAKER_00: And her average sales cycle went from 21 days to just six days.
• 10:31
  SPEAKER_00: So from the time she had a conversation to the time they said yes, got shortened extensively.
• 10:37
  SPEAKER_00: She didn't get better leads, but she did build a better process.
• 10:41
  SPEAKER_00: And like we've talked about a lot of times on this podcast so far, is that your processes in your business really, really matter to your success and sustainability.
• 10:50
  SPEAKER_00: So follow-up process, sales process, prospecting process, those are all the different processes that you can build within your business to create those processes and systems to lead you forward more efficiently, quicker, faster.
• 11:06
  SPEAKER_00: All right.
• 11:07
  SPEAKER_00: So recap three secrets, pre-qualify leads.
• 11:13
  SPEAKER_00: You want to make sure that you are having a clear conversation.
• 11:19
  SPEAKER_00: So, whoops, okay, let me start over with my fingers.
• 11:23
  SPEAKER_00: Pre-qualify before you talk to somebody.
• 11:26
  SPEAKER_00: Start with a clear conversation, use a script if you need to, and then make sure you have a good follow-up system in place.
• 11:34
  SPEAKER_00: Right?
• 11:36
  SPEAKER_00: Uh, a long sales cycle drains your profit.
• 11:39
  SPEAKER_00: Shortening it doesn't mean you're pushing harder, but it does mean you're guiding better.
• 11:44
  SPEAKER_00: So think about that.
• 11:45
  SPEAKER_00: How can I guide the sales conversation from initial to yes?
• 11:50
  SPEAKER_00: Right?
• 11:52
  SPEAKER_00: All right.
• 11:52
  SPEAKER_00: This week I would challenge you to review your sales process and ask where are my prospects getting stuck, confused, or quiet?
• 12:01
  SPEAKER_00: Fix just one of those bottlenecks.
• 12:04
  SPEAKER_00: One thing.
• 12:04
  SPEAKER_00: Remember, one thing at a time, we make little steps moving forward.
• 12:07
  SPEAKER_00: We don't have to attend everything.
• 12:09
  SPEAKER_00: We don't need to get all these systems and processes in place now, but you do want to make one forward-moving step.
• 12:15
  SPEAKER_00: So figure out what that step is.
• 12:17
  SPEAKER_00: This is also a great opportunity to start tracking your metrics.
• 12:22
  SPEAKER_00: So if you're like, I don't even know what my conversion rate is, start documenting that.
• 12:28
  SPEAKER_00: What sales conversations do you have?
• 12:30
  SPEAKER_00: How many of those conversations turned into sales?
• 12:33
  SPEAKER_00: Um, you can also look at um how many calls are being booked, you know, on your website, how many, how long the period of time is between the initial conversation and the and the contract signing or the purchase, whatever it might be.
• 12:48
  SPEAKER_00: Those are different metrics.
• 12:49
  SPEAKER_00: Again, only pick one if you haven't been doing this.
• 12:54
  SPEAKER_00: Just do one thing at a time.
• 12:55
  SPEAKER_00: One bottleneck, one metric.
• 12:58
  SPEAKER_00: You don't need more leads, you need a smoother path from interest to yes, generally speaking.
• 13:04
  SPEAKER_00: So, call to action.
• 13:07
  SPEAKER_00: You can join my Facebook group to get more insights and um education pieces.
• 13:15
  SPEAKER_00: Uh, your accounting sidekick.com will take you directly to my um Facebook page.
• 13:21
  SPEAKER_00: You can also comment points for our free profit points mini evaluation, which is going to help you identify what are some of those areas that you do need to work on to have one single step forward.
• 13:36
  SPEAKER_00: So if you're like, this has been a great conversation.
• 13:38
  SPEAKER_00: I don't know if that's really my top priority.
• 13:41
  SPEAKER_00: Take a look at the profit points evaluation and you can identify what is your priority now, what are some of those things that you need to start working on to move things forward.
• 13:49
  SPEAKER_00: And then finally, if you would like to talk with me, chatwithmeg.com will take you to my website where you can book a free consultation so we can talk more about profitability and your numbers and what's going on in your business so that you can have a clear path forward.
• 14:04
  SPEAKER_00: All right, so that was it for today.
• 14:08
  SPEAKER_00: I am Megan from Psychic Accounting.
• 14:12
  SPEAKER_00: Thank you for uh watching the Profit Points podcast.
• 14:16
  SPEAKER_00: We help you build a business that actually works for your life.
• 14:20
  SPEAKER_00: And I will see you next week.
• 14:23
  SPEAKER_00: Bye.
• 14:24
  SPEAKER_00: All right, that's your episode this time.
• 14:26
  SPEAKER_00: Don't forget your action step.
• 14:28
  SPEAKER_00: I want you to actually do it, not just add it to the list.
• 14:31
  SPEAKER_00: If this episode was helpful, share it with a fellow business owner who needs to hear it.
• 14:36
  SPEAKER_00: And if you're ready to go deeper on your specific numbers, you call the sidekick accounting.
• 14:41
  SPEAKER_00: Go to chatwithside.com and I'll see you next time on Profit Place.