Words of Wisdom and Inspiration for the aspiring entrepreneur from Frank Covich, Founder of the National Association of Independent Business Brokers (NAIBB)…
by Frank Covich
The Value of a Formal Presentation
In any new business venture, even if you are an experienced sales person, I believe that the best way to make a lasting impression with a potential client or buyer about your product or service is to develop and use a formal presentation.
Most business startup programs will have some type of sales approach, which is wonderful. This is your opportunity to take that approach and expand upon it in order to develop a dynamic presentation, one that you can build upon as you learn the science and art of presenting.
This is why you need a presentation and how to make it a good one…
When you get the opportunity to present your service or product, it’s likely because you’ve put in lots of effort, expense and time beforehand. So my message today is to remind you how important it is to do a good job. You’ve got to make the most of it.
Take some time to develop your presentation. Focus on following your sales presentation outline, which can be in a binder or some people like to use a tablet. I like using a binder because people get tired of looking at monitors, and it’s easy to update as necessary. Always have your presentation with you.
You energize people and capture their attention when you ask them to look at your binder presentation, as opposed to focusing solely on you. Control the flow information by showing pages in a formal and organized way. Formality sets the tone and creates an environment of professionalism. If you present the right images of your products and/or services, with a clear understanding of the sales process, you will have offered everyone involved a great service. My message is that if you skip a step, you will usually lose your potential deal.
In all my years in business, I’ve learned that all deals/sales decisions follow an “incremental decision-making process.” It is up to you to know what that is for your business and to guide a potential client through the process in such a way that it yields a positive outcome. More specifically, we have learned that a busy professional business brokerage consultant will do much better with an outline that provides a road map for funneling a lead into a sale and ultimately a closing document.
When you lead into signing that final order, contract or letter of understanding, never say “SIGN THIS!” Most people have been told to never sign anything! It’s a false negative. What you can say as you get to a closing place is “Let me show you what our agreement is.” Then read it to and with your customer, finishing with “Please approve if you agree.”
To explore the opportunity to create your own business brokerage practice, visit www.bebizbroker.com, and to look at other dynamic business opportunities, you can visit here. When you get an opportunity to present your service or product, jump at it…and do it with style and wisdom. Present well and you will do well!
All the best,
October 23, 2018