Keep it simple, stupid.
Have you ever heard the phrase? I know I have. Read on to learn how I figured out how to close 2x the deals with 2x less paper work.
Background: Back in college, I started my own local drone photography business. I sold custom photo and video packages to apartment complexes. My clients would pay 50% up front and then the rest upon delivery. I would also make my clients sign an agreement with a few conditions.
Filled with energy and excitement, I had 4 leads. Each one of the deals would have been around $300 dollars and I was pumped. Best part? I had already collected 2 down payments so I only needed to close the other two.
I was anxiously waiting for my other two clients to sign the agreement, cut a $150 check, and send it all back to me. Days rolled by and I began to feel awkward following up with my clients. You can only say “send me the freaking documents” politely so many times. After much nagging on my end, one of the clients finally sends me the agreement and the check for the down payment. To my dismay, this check was addressed to “G&M Multimedia” instead of “Michael Diaz.” Since I had just begun, I hadn’t set up a proper LLC yet, so I couldn’t cash this check. As you can imagine, having a business reissue you a check after the first one took nearly a week, was a painful process. This was the hardest $150 I had ever worked for.
Once I finally closed all the deals and collected my earnings, I had an “AHA” moment. I realized that I needed to change the way I was operating business if I wanted to close deals quicker.
First, I got a square reader. No more paper checks. I no longer had to physically go anywhere, I could just accept payments over the phone. Next, I completely nixed my agreement. For my smaller deals, I started trusting my clients more and just proceeded without one. (I am not saying you should do this, but perhaps you could introduce an e-signature option.) Those two small steps, saved me an incredible amount of time. I was previously closing deals in about 7-10 days. After the change, I closed a deal in 2 days. As a result, I began earning more and had fewer headaches.
Modify anything in your business process that is making it harder for you to close the deal. This will save you time and allow you to focus on what really matters. Closing more deals! Thank you for reading!